Economy-based Contemporization and Preservation of Contemporary Architectural Heritage; Strategies for Action in Residential Buildings from the 1951s to the 1971s

AbstractProblem statement: The discussion about the financial feasibility of contemporization among investors, planners, policymakers, and supporters of cultural heritage is ongoing. The ideology-driven approach that advocates for demolishing old houses and replacing them with more profitable structures has transformed many streets in Tehran into soulless places. Generally, investors show minimal interest in investing in the renovation and reuse of old buildings. However, there is a growing number of successful projects emerging that involve refurbishment and reuse of existing structures.Research The objective of this study is to examine the preservation of historical buildings and their contemporization from an economic perspective in contrast to building new structures.Research The research methodology employed in this study is quantitative, utilizing the techniques of smooth regression and coding in the MATLAB software. The findings indicate that economic growth based on contemporization follows an upward trend. While there are various costs involved, such as attracting audiences to buildings and the implementation of strategies that are discussed further, economic growth has demonstrated a greater inclination towards contemporization rather than demolition and construction. Proposed solutions in this study include the establishment of financial packages, loans, and banking partnerships to incentivize the contemporization of residential buildings and discourage the demolition of structures from the 1950s to 1970s. Furthermore, the results suggest that municipalities should adopt new policies to promote contemporization and integrate it as an integral part of smart growth initiatives. Municipalities should enforce strict design guidelines in neighborhoods with the potential for contemporization to attract more investment, protect communities, increase property values in those areas, and facilitate potential investments.