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This paper aims to evaluate the suitability and feasibility of the four most likely urban spaces for mixed use development – brownfields (contaminated lands); greenfields (open, undeveloped areas); greyfields (closed or dying shopping centers and empty parking lots); and redfields (underperforming, foreclosed commercial real estate).

Literature about and studies of mixed use development projects in America and Britain were reviewed, and so too were specific examples of the four candidate urban spaces. The authors then analyzed which spaces succeeded as mixite and which failed.

Brownfields are often not successfully transformed into usable mixite; nor are greenfields. The cost and regulatory complication of removing pollution from brownfields is too often prohibitive, and greenfields are too far away from urban core areas. By contrast, greyfields and redfields appear to be far more suitable spaces for mixed use development projects.

Most government policies urging redevelopment projects in America and Great Britain prefer brownfields as the space deemed most suitable for mixite. Contrary to this view, it appears that unpolluted spaces, such as redfields and greyfields, that do not need extensive environmental remediation, are typically better candidates for mixite.

Real options available to developers and leading to an active and dynamic development of real estate assets are numerous. The purpose of the article is twofold. First, a conceptual framework is proposed as a practical aid for recognizing and understanding some frequently recurring combinations of options (such as deferral and expansion options). Based on the definition and classification of real options available in real estate markets, a comprehensive valuation tool for quantifying the value of those options embedded in a real estate development project is thus developed using a portfolio view.

Based on standard option pricing techniques, the proposed conceptual methodology is validated by applying it to an actual case of an investment for the construction of a new, multi‐purpose building in the semi‐central zone of the urban area of Rome (Italy).

Based on a static land value of €34.7 million, a waiting mode (deferral option) at an early stage of developing a property accounts for 16 percent of the expanded land value of the project, with 8 percent of such value being contributed by the expansion option. A real options valuation of the options portfolio available to a real estate developer enables increasing the project value by 31.1 percent as opposed to a traditional DCF analysis. In line with financial options theory, values of real options increase as volatility rises.

The case‐based analysis highlights that: flexibility in real estate development may create additional value enabling real estate developers or funds to react to market trends as new information arrives and uncertainty on fundamental factors (e.g. property prices) unfolds; the extra value added by managerial flexibility is neglected by DCF/NPV techniques; contrary to the common criticism on its lack of rigor, option valuation theory is suitable for appraising real estate assets; a portfolio approach is crucial when multiple real options exist.

Active management of real estate investments in response to changing property market and technology conditions confers operating flexibility and strategic value to appraisal of development projects beyond what is traditionally captured by a DCF model. An options approach to valuing and managing real estate development may change the developer's perspective altogether. Based on the combination of an original classification and a portfolio view of options existing in real estate markets, a real options framework for assessing the value of strategic flexibility incorporated in a greenfield development project (also accounting for potential option interactions) is designed.

This study aims to provide a review of brownfield policy and the emerging sustainable development agenda in the UK, and to examine the development industry's (both commercial and residential) role and attitudes towards brownfield regeneration and contaminated land.

The paper analyses results from a two‐stage survey of commercial and residential developers carried out in mid‐2004, underpinned by structured interviews with 11 developers.

The results suggest that housebuilding on brownfield is no longer the preserve of specialists, and is now widespread throughout the industry in the UK. The redevelopment of contaminated sites for residential use could be threatened by the impact of the EU Landfill Directive. The findings also suggest that developers are not averse to developing on contaminated sites, although post‐remediation stigma remains an issue. The market for warranties and insurance continues to evolve.

The survey is based on a sample which represents nearly 30 per cent of UK volume housebuilding. Although the response in the smaller developer groups was relatively under‐represented, non‐response bias was not found to be a significant issue. More research is needed to assess the way in which developers approach brownfield regeneration at a local level.

The research suggests that clearer Government guidance in the UK is needed on how to integrate concepts of sustainability in brownfield development and that EU policy, which has been introduced for laudable aims, is creating tensions within the development industry. There may be an emphasis towards greenfield development in the future, as the implications of the Barker review are felt.

This is a national survey of developers' attitudes towards brownfield development in the UK, following the Barker Review, and highlights key issues in UK and EU policy layers.

A key development in South Africa's response to the HIV/AIDS epidemic has been the recognition that there are a number of external factors in the socio-economic and physical environment in which people live that are central to the spread of the epidemic. A growing body of evidence suggests that poverty, inequality, inadequate shelter, overcrowding and other symptoms of underdevelopment are fundamental drivers in undermining people's ability to practice and negotiate safe sex, thereby enhancing vulnerability to HIV infection. Similarly, these factors affect the ability of individuals, households and communities to cope with the subsequent health and socio-economic effects of infection. In a context where large numbers of South Africans live in poverty, without adequate shelter and access to basic resources and services, HIV/AIDS will thus have far reaching and serious impacts, not only on citizens and communities but also for and on the state.

The South African government has shifted its approach to housing development from the provision of housing to a sustainable human settlements approach, as encapsulated in its 2004 development plan ‘Breaking New Ground’. This paper explores the conceptual and theoretical links between this sustainable human settlements agenda and HIV/AIDS. It argues that the creation of sustainable and integrated human settlements is potentially a crucial component in the response to HIV/AIDS. However, this can only be achieved if HIV/AIDS becomes an explicit component of sustainable human settlements planning, development and management. In light of this, the paper discusses key characteristics of integrated, sustainable human settlements and reviews the current instruments for the implementation of a sustainable settlement agenda in South Africa in relation to the dynamics and implications of HIV/AIDS both for the South African state and its people. The paper concludes with a set of policy recommendations to make HIV/AIDS an integral component of the sustainable human settlements agenda.

The purpose of this paper is to understand the barriers to housing development on brownfield land in the UK, making clear the distinction between market and institutional factors and identify appropriate public and private sector solutions to encourage more residential development.

In this research, the city of Nottingham in the East Midlands of England was chosen as the case study city. The research was based on secondary literature review of relevant local authority reports, Internet searches, consultancy documents and policy literature. Detailed case studies were undertaken of 30 sites in Nottingham which included a questionnaire survey of developers. Officials from Nottingham City Council assisted with the gathering of planning histories of the sites. The investigation took place in 2014.

Based on the evidence from Nottingham, the most frequently occurring significant constraint was poor market conditions. At the local level, it is clear that there are options that can be promoted to help reduce the level of friction in the market, to reduce delay and cost and, thus, to encourage developers to bring forward schemes when the market allows. Securing planning permission and agreeing the terms of a S106 agreement is recognised as a major development hurdle which requires time to achieve.

Market forces were clearly the dominant factor in hindering development on brownfield sites in Nottingham. The local authority should be more circumspect in the use of S106 agreements in market conditions where brownfield development is highly marginal. Imposing additional taxation on specific developments in weak markets discourages development and is counterproductive.

This detailed study of 30 development sites is significant in that it provides a better understanding of the barriers to residential development on brownfield land in the UK.

Australians were recently awarded the dubious honour of building the largest homes in the world. Our new homes are now seven percent larger than those in the United States and nearly three times larger than those in the United Kingdom. At the same time, the price of an average residential property is now five times what it was 20 years ago. Although incomes have risen over the same period, they have not kept pace with rising house prices. In terms of disposable income, the cost of housing has almost doubled. While traditional housing affordability is measured in terms of house prices and incomes, a broader and more encompassing perspective also indicates that we can no longer ‘afford’ to build houses as we have done in the past. The environmental impact of modern Australian housing is significant. Australians have resisted the need for increased urban density as their capital city populations grow and new houses have been built on the outskirts of the existing cities, encroaching on the greenwedge and agricultural lands, destroying and degrading existing fauna and flora. The houses built have increased carbon emissions because of their size, embodied energy and reliance on the motor car. This paper discusses the environmental ‘affordability’ of current Australian housing and argues that this must be considered alongside traditional affordability criteria so that a more holistic approach to the issues is adopted.

The purpose of this paper is to investigate how the remediation of contaminated land has been damaged, perhaps immeasurably, in a period of devastating and crushing austerity.

A legal doctrinal and regulatory analysis of the contaminated land regime under Part 2A of the Environmental Protection Act (EPA) 1990 was used to investigate the extent to which austerity changes have affected future contaminated land identification and remediation.

Austerity changes have impacted upon Part 2A of the EPA 1990, the planning system and development incentives. The recent changes are going to contribute to the problem of the under-resourcing of local authorities and are likely to reduce voluntary remediation by developers. As a result, future contaminated land clean-up is going to decrease.

Originality/value is assured because, as far as the author is aware, there is no other literature in this research area dealing specifically with the coalition’s adverse impact on Part 2A; this paper fills the knowledge gap that existed in the research field.

In large system development efforts organizational and managerial issues are often more challenging than technical ones. One of the key concerns of managers is the control and evaluation of the overall development effort. The purpose of this paper was to analyze the evaluation of system development process in a setting where there are multiple stakeholders in multiple organizations that develop a common information system (IS). The case is a consortium of universities that has developed a common student registrar system over a period of more than ten years.

The authors used a social process model to analyze the episodes and encounters in the system development and evaluation process. The research approach can be characterized as action case.

The authors found that in the early stages of system development the evaluation was emergent or even non‐existent. As the system was developed further and issues, such as delays and missing features, arose, there was a need for better control of the process. Thus, the evaluation process evolved through a series of critical encounters into a more proactive one.

The authors studied only one case so broad generalizations directly from the case cannot be made. However, the results could hold true for similar settings. The authors believe that the results are interesting to both researchers and practitioners since in outsourcing relationships the consortium kind of arrangement is becoming more common.

The authors analyze the evolution of IS evaluation processes in a setting with multiple client and vendor organizations and reveal the complexities of system evaluation in such settings. Moreover, they introduce three new concepts: reactive, transitional and proactive evaluation processes. These concepts can help researchers and practitioners to better understand the nature of the IS evaluation processes and to possibly choose an evaluation approach that has a better “fit” with the development situation at hand.