MIND

MIND
Project box

Geographical area: Europe

Location: Milan, Rho Italy

City size: Large (between 1,000,000 and 5,000,000 inhabitants)

Promoter: Arexpo

Developer: Lendlease

Start year:

End-year: In progress

Implementation phase: Implementation in progress

Project size: Neighborhood

Total area of intervention (in sqm): 1.044.102

Total investments (in USD): 4,92 Billion

Project overview

The Milano Innovation District (MIND) is a large-scale urban regeneration project launched in 2017 and scheduled for completion by 2031, covering an area of 1,044,102 sqm. It is located between the municipalities of Milan and Rho, on the former site of Expo 2015. The district is designed as a synergic area dedicated to innovation, sciences, and sustainability, inspired by the One Health approach (OHHLEP, 2021), which promotes the interconnection between human health, ecosystems, and the built environment. MIND will host research and innovation centres, a university campus, a hospital, corporate headquarters and startup accelerators, housing and services, nonprofit organisations, cultural spaces and green areas.  

Before Expo, hosted by Milan in 2015, the area was destined for several activities ranging from industrial production to agriculture, logistics infrastructure, and municipal services. It was subsequently redeveloped to host Expo 2015 with the construction of new infrastructures and the launch of a broader regeneration project. 

After the conclusion of Expo Milano 2015, the exhibition site remained in a state of limbo for several years, partially unused and underutilised. This situation highlighted the need to identify a repurpose strategy capable of enhancing the existing infrastructure and building upon the material and immaterial legacy of Expo 2015. MIND builds upon the global visibility and infrastructural legacy of Expo 2015, reusing major features built for the exposition, such as the Cardo and Decumano, Palazzo Italia, the Tree of Life, Lake Arena, Mediterranean Hill, the Open-Air Theatre, and the Children’s Park. 

MIND inherits and expands the mandate of Expo 2015, which centred on global dialogue around food and sustainability, transforming that legacy into a permanent hub for research, innovation, and sustainable development. It is designed as an integrated ecosystem where public and private functions coexist, with a strategic emphasis on sustainability, technological advancement, and scientific research.

Covering over 1 million sqm and leveraging a total investment of 4.92 billion USD, MIND is mainly being developed through a public-private partnership led by Arexpo, a public company that manages the site and Lendlease, an international real estate group, which has been granted a 99-year concession for the development of a 480,000 sqm area, while the remaining areas are being developed directly by Arexpo together with four project’s anchor institutions the University of Milan, the IRCCS Galeazzi Sant’Ambrogio Hospital, the Human Technopole research institute, and Fondazione Triulza, a civic and social innovation hub, which will play a significant role in enhancing the offer of services in the area. Furthermore, other companies are acquiring or renting lots and budlings and are actively contributing to MIND development. These include AstraZeneca, Illumina, Bio4Dreams, and Rold, whose presence highlights MIND’s ambition to become a leading hub for biomedical research, digital health, and advanced manufacturing. 

The area benefits from excellent connectivity, with direct links to Milan’s city centre, high-speed rail lines, and nearby airports. Multimodal accessibility to the site will be further enhanced by the MIND Merlata railway station situated near to the project area. The station is expected to be completed by 2026, it will connect the Cascina Merlata neighborhood and MIND to the suburban railway network. It will serve as a key hub for sustainable mobility in northwest Milan, integrating trains, bicycles, and pedestrian pathways. The new station is developed to serve in the Milano-Domodossola line, the S5 and S6 lines, and the future Circle Line, including the many connection points with the city's metro lines.

From an environmental perspective, due to its strategic location within Milan’s greenbelt, MIND will also play a pivotal role in reconnecting two major ecological corridors: Parco Agricolo Sud and Parco delle Groane. The site will also host different green areas, such as the Green Blue Park. This ecological integration is further enhanced by a perimeter water canal, which contributes to a broader landscape strategy involving the Naviglio Grande and Villoresi Canal. 

The area of MIND is about 1,044,102 square metres, incorporating a substantial mix of public and private functions. The project foresees approximately 475,250 sqm of gross floor area for public uses, with 128,635 sqm for cultural, sport, leisure, and service use, and 30,000 sqm dedicated to social housing for long-term rentals.  As Arexpo is appointed for the management of the site and allocation of land, part of the area has been transferred to the new University of Milan science campus (187,000 sqm), the Human Technopole research centre (35,000 sqm), the IRCCS Galeazzi Sant’Ambrogio Hospital (94,615 sqm).  

Lendlease is responsible for a 480,000 sqm portion of the site, with 346,000 sqm planned for office space, 90,000 sqm for market-rate residential units (1,115 apartments), 35,000 sqm for retail and commercial functions, 15,000 sqm for hospitality (hotel and short-term accommodation), and 30,250 sqm for light industrial or productive uses. The entire project covers more than 440,000 sqm of green areas and public squares, with water surfaces, comprehending the Green Blue Park. 

The project preserves key EXPO heritage elements including the Cardo and Decumano axes, Palazzo Italia (now hosting Human Technopole), the Lake Arena, the Tree of Life, the Mediterranean Hill, the Open Air Theatre, and the Children’s Park. A 500,000 sqm area will integrate public and private zones, supporting the district’s commitment to innovation, sustainability, and the One Health approach. 

Benefits

MIND is designed to generate long-term economic value by attracting direct investments and fostering new activities across a wide range of sectors, creating benefits in terms of both employment and business growth. The regeneration project is expected to create a substantial number of new jobs, particularly in research, education, health, advanced manufacturing, and commercial services. The retail sector is projected to employ about 354 workers, while the hospitality sector will require around 88 employees. The corporate office sector, with its concentration of firms and high-value knowledge activities, is anticipated to generate 270.32 million USD per year in employee remuneration, supporting approximately 8,100 jobs. In addition, R&D laboratories are expected to employ around 571 specialised professionals, and the Human Technopole will employ 1,000 researchers in life sciences, creating knowledge spillovers into the private sector.

Through its activities, MIND will enhance the economic vibrancy and attractiveness of the area, as well as stimulate multiple economic sectors. The presence of anchors such as Human Technopole and the University of Milan, alongside a growing cluster of private R&D firms, positions MIND as a key driver of Milan’s knowledge economy. Developing a mixed-use area, MIND enhance the resilience and vitality of the area by diversifying the different economic sectors and specialisation in the site. Indeed, this commitment toward fostering connections between companies is mirrored in the Federated Innovation Platform which is a network of different stakeholders. The platform involves entities, local companies and intermediaries in the project and plays a central role in fostering cross-sector collaboration, accelerating both innovation and commercialisation processes in strategic domains such as digital health, smart mobility, and sustainable building technologies. The district is expected to develop a hub for startup incubation and scale-up acceleration capable to attract venture capital, seed funding, and industrial co-investments. Moreover, the project enhances Milan’s regional competitiveness and global visibility.

The presence of this high-added-value commercial and productive activities will also increase the real estate value of buildings in the area. From the outset, the management of the construction process was strategically structured to favour local and small-to-medium-size enterprises (SMEs). One of the project's core procurement objectives was to engage up to 80% of local suppliers in construction contracts, achieved by dividing the area into smaller lots to ensure accessibility for local micro and small businesses.

By bringing together research, businesses and public services, MIND is expected to create economic benefits that go well beyond the site itself, with effects at both regional and national level. Overall, the project is estimated to generate about USD 1 billion in economic activity nationwide (an average of USD 240.9 million per year). This amount represents the total value of goods and services produced, including indirect activities linked to the implementation of the project. Out of this, the actual added value for the economy – in terms of jobs, incomes, company profits and taxes – is USD 381.7 million, equal to 39.6% of the total. Looking at the regional level, the project is expected to generate USD 479 million in economic activity (about USD 151.8 million per year), of which USD 261.8 million is added value. These impacts are also expected to increase tax revenues, bringing benefits to the whole community. 

From an environmental point of view, the major characteristic of the MIND project is its strong commitment to greenhouse gases emission reduction by becoming a carbon-neutral neighbourhood powered entirely by renewable energy. The district adopts a 100% renewable energy strategy, primarily based on certified solar energy. All buildings are designed to exceed local energy efficiency standards by at least 20%, thanks to the installation of next-generation and high-efficiency systems that reduce both heating and cooling demand. To support this point, the LCA analysis, conducted in the pilot area Renaissance I within the site, estimated a comprehensive buildings’ emission of 600 kg CO2 eq/sqm, while the business-as-usual benchmark is 1319 kg CO2 eq /sqm, this shows a comprehensive reduction of 55% of the emissions. 

Mind also fosters to support climate adaptation and urban resilience. One of the main elements is the integration of nature within the urban fabric. This objective is achieved by developing over 300,000 sqm of green spaces and water surfaces, including two large parks with the plantation of 3,500 new trees and 30,000 shrubs, rooftop gardens, and a central green corridor to help mitigate the urban heat island effect and improve overall microclimatic conditions. The use of nature-based solutions supports flood mitigation and contributes to urban resilience and climate adaptation. Ecological connectivity enhancing urban ecosystem and biodiversity are also core goals. The landscape design fosters biodiversity by planting a wide variety of native species, creating diversified habitats, and strengthening ecological corridors. These strategies contribute to a more resilient, liveable, and healthy environment for both residents and biodiversity. These spaces contribute to cooling the microclimate, managing stormwater and improving air quality. The site also serves as a critical ecological corridor between Parco delle Groane and Parco Agricolo Sud, thus reinforcing the metropolitan greenbelt. The project will also feature the development of the 'Green Blue Park,' which surrounds the district with pedestrian areas along the canal. Conceived as a connective element between the various public spaces within the site, the park is designed to promote wellbeing and health, while also offering areas dedicated to sports, nature, innovation, and leisure.

Positive environmental impacts are also delivered during the construction process, following resource efficiency and circular approach: 98% of the demolition materials are reused or recycled, including concrete, steel, and asphalt. The choice of low-carbon materials, such as certified sustainable timber, helps reduce the embodied emissions of buildings and public spaces. 

MIND is designed to be a socially inclusive and participatory innovation district, with the aim of integrating different user groups and promoting access to knowledge, health, and cultural services. The project will create an inclusive and connected urban environment rooted in sustainability and innovation. The project promotes a radical shift in urban living by integrating public and private functions into a cohesive, people-centred ecosystem. 

A core element of MIND’s design is green mobility, addressed both within the district and in its connections to the surrounding area. The vision was achieved through the development of walkable streets, bike lanes, pedestrian bridges and facilitated public transportation, connecting and integrating the neighbourhood with the city centre. Only electric and sustainable mobility will be allowed within the district, with a full transition to electric transport supported by infrastructure that prioritises public and shared mobility over private vehicles.  As part of the mobility planning, the project aims to provide citizens access to basic public services within a 15-minute radius, ensuring overall accessibility. These features are designed to reduce car dependency, encourage healthier and more sustainable mobility habits, and integrate the project area with the city of Milan. 

MIND emphasizes digitalization as a central pillar, embedding it with sustainability priorities and implementing advanced solutions such as E.ON’s Ectogrid system for efficient energy management. This digital approach not only enhances operational efficiency and optimizes energy consumption but also generates economic benefits by prioritizing the use of green energy, supporting the district’s role as a model for smart, sustainable urban development and innovation-driven growth.

A key component of the project’s social impact are the amenities designed for both visitors and residents of the site. Quality of life will be enhanced through the development of 500,000 sqm dedicated to science and innovation and constructing extensive public spaces, including green areas, squares, sports facilities, and water features. These shared spaces support not only environmental quality but also community interaction, inclusion, and well-being derived from the environmental improvements. The project will also enhance social equity and inclusiveness, offering a balanced mix of functions. 

MIND is built to foster collaboration among academia, businesses, institutions, and civil society. This creates a dynamic environment where researchers, entrepreneurs, and citizens can actively engage and create a socially inclusive and resilient urban community. 

Promoting inclusivity and social cohesion, a significant portion of housing in the neighbourhood is dedicated to social and affordable solutions, fostering socio-economic diversity. Together with a student residence, these initiatives will cover around 30,000 sqm. Mind is expected to host 1152 students in its accommodations with prices ranging from 330 USD to 754 USD in its student residence, 400 spot are specifically assigned for students with scholarships. Programs led by Cariplo Factory and Plus Value further enhance diversity in the project by promoting citizen participation, the inclusion of vulnerable groups, and co-creation activities. The entire district is conceived as a living lab, enabling policy experimentation, social innovation, and the scaling of sustainable urban practices.

MIND aims to achieve LEED Gold and Platinum certifications and to construct buildings classified as A1, A2, A3, and A4, exceeding national regulatory requirements by more than 20%.

Finance model

The MIND project has different sources of funding, depending of the developed area within the project. The main development of MIND is in charge of Lendlease through a public-private partnership with Arexpo, a publicly controlled company, which awarded Lendlease a 99-year concession for the development and management of 485,000 sqm of the area. The concession agreement with Lendlease amounts to 4.9 billion USD, of which 2.7 billion USD is directly financed by Lendlease. During the period of concession, Lendlease will pay Arexpo annual fees amounting to 730 million USD. In developing specific areas in the project, Lendlease relies on co-investments with other institutions and dedicated investment funds. 

The remaining part of the district will be financed and managed by Arexpo and the Anchor Institutions, with each party responsible for financing and overseeing its assigned area according to the agreement with Arexpo. For the development of the IRCCS Galeazzi Sant’Ambrogio Hospital, Gruppo San Donato a private health operator that manage the hospital invested up to 585 million USD for its construction and equipment.  

The development of Human Technopole is supported by a total planned investment of approximately 1.64 billion USD. The financing is provided through the State budget law, which schedules payments in annual installments: 11.65 million USD in 2017, 133.31 million USD in 2018, 159.01 million USD in 2019, 130.71 million USD in 2020, 142.28 million USD in 2021, and 155.56 million USD in 2022. From 2023 onwards, the planned investment is set at 140.3 million USD per year, ensuring a gradual and consistent increase in funding.

The UniMi Campus’ development requires total financial resources of around USD 495 million. These resources are allocated to Academo Srl. The financing mix is composed of USD 209 million from the European Investment Bank and Cassa Depositi e Prestiti (CDP), USD 104.5 million are provided from Regione Lombardia, and USD 148.5 million from national funds. This combination of public and private investments ensures the successful design, construction, and operation of the new campus within MIND.

The area of Cascina Triulza has been transferred to the Municipality of Milan, which entrusted Arexpo with the task of selecting, through a public tender, a non-profit operator to develop and manage the premises. The investment for its development amounts to more than 5.24 million USD.

In the MIND project, single tenants also invested privately to rent spaces from Lendlease and establish their activities, with 5.8 million USD for Illumina, 3.94 million USD for Bio4Dreams, and around 2.32 million USD for Rold. As of today, 38 companies operate within Federated Innovation®@MIND, contributing $2.2 million USD annually to collaborative R&D and innovation activities. MIND also benefits from a strategic partnership with Milano&Partners to attract investments, talents, and support for new ventures. To support the innovation ecosystem, public institutions invested 3.2 million USD to sustain the startup accelerator Berkley Skydeck that operates in Mind Project, while Lendlease financed directly another 1.52 million USD on this project. 

The MIND project is supported by a diversified financing strategy according to each site developed in the project. In 2017, the public company Arexpo responsible for the management of Ex Expo site awarded Landlease a land concession agreement for the development of the area.  The concession consists of two blocks, the first immediately granted and an additional one, accessible upon the fulfilment of specific requirements. To finance the area, Lendlease adopted diversified strategies, comprehending private funding through equity, with a direct investment from the company and through a 50:50 joint venture with the Canada Pension Plan Investment Board (CPP Investments) in 2021, which flows into the Italian fund (Renaissance I) managed by Lendlease Italy SGR. 

IRCCS Galeazzi Sant’Ambrogio Hospital is financed through private investment, obtaining a loan from a pool of banks, namely: UniCredit S.p.A., Intesa Sanpaolo S.p.A., Banca Nazionale del Lavoro S.p.A., Banco BPM S.p.A.

The Human Technopole is funded through a state grant established by the National Budget Law, which provides for phased payments over time for the development of the innovation centre. These funds are directed to the Human Technopole Foundation, the entity that leads and manages the site.. 

For the UniMi Campus development Lendlease established Academo Srl, a special-purpose company which is responsible for the design, construction, and management of the new campus headquarters. The area of UniMi Campus is given in concession to Academo Srl for 30 years, in exchange for an annual payment of approximately 20 million euros from the University. To finance the UniMi Campus within MIND, a project finance-based direct loan has been structured in favour of Academo Srl. In detail, USD 235.5 million of new resources will be provided as follows: a first tranche of USD 104.5 million granted by the European Investment Bank (EIB) and a second tranche of a further EUR USD 104.5 million granted by Cassa Depositi e Prestiti (CDP), with the funding made available by the EIB itself. In addition, CDP will also provide a dedicated VAT credit line (a specific facility that anticipates the liquidity needed to cover VAT payments during the construction phase, later reimbursed by the tax authority) for the project amounting to USD 38.5 million. Considering the national funds, USD 253 million are allocated though budget laws. Overall, the investment will benefit from long-term financing under favourable conditions from the European Investment Bank, significantly reducing the project’s financial burden on the public grantor.

To incentivise investment in the area, the Federated Innovation MIND has been established an instrument to bridge the gap between anchor institutions and the business environment. The Federated Innovation @MIND requires a earmarked tax, an annual contribution of 54,150 USD to join the Innovation Alliance. Companies willing to join a specific thematic area will also pay a fee of 54,150 USD. The fee consists of 27,075 USD directly going to the innovation initiatives (in the form of in-kind contribution, for example, event organisation and/or research activities), while the remaining 27,075 USD is used to cover running costs. 

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MIND Milano https://www.mindmilano.it/mind/