It can spill out on to the street

The revitalization of existing neighborhoods has been a frequent topic of public and academic debate in post–industrial times. Yet, little is known about the potential of individual, commercial real estate development projects to revitalize neighborhoods. Adaptive reuse of existing buildings, especially when combined with collaborative spaces, have been linked to positive social impacts beyond cultural heritage, such as aesthetic experience, and social inclusion. This study utilizes a social lifecycle assessment (S-LCA) framework to evaluate the social impact of an adaptive reuse project. The focus is on the revitalization potential on the respective neighborhood. The case neighborhood is Möllevången, located in Malmö, Sweden. The neighborhood and city both suffer from socioeconomic challenges, such as high unemployment rates, drug abuse, and vandalism. A building within the neighborhood has been refurbished for offices and workshops for the creative industries, as well as spaces open to the public and local community. Significant revitalization potential on the neighborhood was identified, predominantly through the categories of community development and engagement, cultural heritage, local employment, and neighborhood characteristics. The findings are useful to real estate owners and developers wanting to increase neighborhood vitality through real estate development projects, as well as researchers interested in ways to assess the social impact in development projects. The study identifies aspects where a real estate project can function as a tool to revitalize existing neighborhoods.