Looked upon as the Greater European Union eastern countries’ main gate, the Porto Vecchio urban regeneration project (Trieste old port area) emerges as the single most significant opportunity able to boost Trieste's economic development. In view of new market possibilities, the wharf has the potentials to become a crucial European port. The masterplan concerns an ambitious project that will be protagonist in the upcoming years for the territorial modernization of Northeast Europe; it proposes buildings and idle areas of outstanding architectural and environmental quality, aligned along one of the most extraordinary waterfronts in Europe.
The proposal, intended as a strategic and operational plan, reveals through its development program decisive factors for the successful transformation and revitalization of the Old Port.
Characteristic of Trieste's history is its contrasting and contradictory conditions, "centrally" positioned and "marginally" located within a geographical context whose confines have been in continuous transformation. Therefore, demands coming from a new geopolitical layout need to be understood, renewal of the “unimaginable” cannot be dispatched under conditions of territorial marginality. Furthermore, long distance accessibility parameters and connections with the local infrastructure network, Old Port, city and territory, help identify potential use variations within the previously programed intervention's framework. They indicate short, medium and long-term development periods, compatible with technical, economical and administrative requirements, necessary for the general redevelopment of Trieste's city center. Associated with them are the costs of processing and real estate development, including preservation of the existing architectural heritage.
The masterplan, based upon three development guidelines, highlights first the innovative interpretation of the concept port usage. In its widest terms, the proposal defines new practices for taking advantage of the disused port waterfront. Secondly, questions presented in diverse occasions, municipal and regional, receive concrete answers put aside for quite some time due to the area's urban and administrative paralysis. Finally, preconfigured is the Future Trieste through the invention of new urban services that capitalize on the exceptional site, attracting new catchment flows coming from extensive tourism (Venice–seafront activities–Trieste). These services will diminish the current concentrations by creating new offers that also look east.