Heritage belongs to everyone. For decades, the quality of life of people has not been underpinned by principles of integrated economic, social and physical development that sufficiently respect the protection and preservation of the historic urban environment. This is a failure on the part of every member of society that deprives future generations of the full benefits of our rich heritage.

The news that the government intends to grant long leases on land with buildings of historical importance is welcome. The Evans Building, in Valletta, the old fish market, known as Pixkerija, and the Sliema Chalet site are marked for development into commercially viable ventures mainly connected to the tourism industry.

There are many benefits, and as many risks, in promoting a strategy of regeneration of historical sites through public-private investment schemes. In the case of the Evans Building, re-using the existing structure is a simple way to achieve sustainability by injecting some quality investment into our mass-tourism industry. The government is seeking investors to transform the site into “an upmarket tourism accommodation”.

Many economic observers cringe when they hear another reference to “upmarket tourism”. This cliché has been abused for too long by political strategists in the past three decades when trying to define their strategies for Malta’s tired tourism business model.

Still, the unique site of the Evans Building could hopefully attract investors who believe not just in reaping economic benefits. This investment must contribute to the quality of life of people by helping them understand the diversity and changing nature of their community.

The protection of Malta’s social and cultural heritage will undoubtedly be reinforced if a suitable investment goes into the challenging project that should bring the Sliema Chalet back to life.

The renaissance of the Chalet is no new concept. For decades, the physical difficulties of building a quality entertainment site on land exposed to the often wild forces of nature must have been too daunting even for seasoned developers and we have no shortage of these developers. Hopefully, this time round, the Chalet can return to its former glory and boost the social and cultural regeneration of the area, instilling a greater sense of pride in the neighbourhood.

It is critically important that those evaluating the proposals for these projects insist on good practices being used across the private-public partnership and beyond. The economic benefits in terms of regeneration, jobs, business and economic growth must not overshadow the community benefits, such as local pride and increased community spirit.

Malta’s urban degradation, the result of disregard for sustainable investment principles over the past few decades, must be addressed through policymakers’ reversal of the laissez-faire development mindset. Historic buildings have been a positive catalyst in achieving structural economic change in many European cities, attracting higher-value investment and jobs.

The investment in regenerating these historic buildings must be made on principles of embedding creative, high-quality, contemporary design in the proposed improvements. Investors must guarantee the highest standards of design both aesthetically and in terms of energy efficiency.

To achieve lasting improvements in Malta’s densely built areas that will benefit current and future generations, the focus must be on solid civic leadership, based on a vision inspired by the common good and inducing processes of creative partnership, effective management and community participation.

Respect for the historic environment must be coupled with sound design to achieve successful investment in our heritage.

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