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1 – 10 of over 3000
Article
Publication date: 2 October 2018

Alirat Olayinka Agboola, Timothy Oluwafemi Ayodele and Aderemi Olofa

The purpose of this paper is to examine the potential of tax increment financing (TIF) as a viable financial mechanism for urban regeneration programmes in Nigeria. This…

Abstract

Purpose

The purpose of this paper is to examine the potential of tax increment financing (TIF) as a viable financial mechanism for urban regeneration programmes in Nigeria. This is with a view to engendering a sustainable, productive and competitive urban land market towards enhancing the economic development of the country.

Design/methodology/approach

This paper adopts a desk-based study approach and review of secondary literature on urban regeneration and TIF to examine the usefulness of TIF for funding local infrastructure development. It then examines the key requirements for the successful application of TIF as a financial instrument for urban regeneration in an emergent economy like Nigeria.

Findings

A number of key requirements for a successful TIF programme particularly in the context of an emergent economy are identified. These are: a functional urban land market with well-developed and documented market indices on performance measurement to serve as reliable benchmarks for investors; an established land use planning system consisting of clear rules and effective decision-making processes; an active capital market that is accessible to institutional and private developers; a viable tax administration system and most importantly an efficient institutional framework with clearly defined formal property rights and sound enforcement mechanisms to monitor contractual agreements and to police deviations.

Originality/value

This paper represents a pioneering attempt at examining the prospects of the application of TIF to urban regeneration in the specific context of an emergent Sub-Saharan African country.

Details

Smart and Sustainable Built Environment, vol. 7 no. 3/4
Type: Research Article
ISSN: 2046-6099

Keywords

Article
Publication date: 22 September 2022

Xiaer Xiahou, Zirui Li, Jian Zuo, Ziying Wang, Kang Li and Qiming Li

Real estate investment trusts (REITs) have shown great potential in addressing the current contradiction between underinvestment and sustainable development of urban

Abstract

Purpose

Real estate investment trusts (REITs) have shown great potential in addressing the current contradiction between underinvestment and sustainable development of urban regeneration in China, as well as in further facilitating the transformation and upgrading of China's urban development. In this regard, this study aims to investigate critical success factors (CSFs) and explore the relationships among these factors, and serve as a reference to provide recommendations and strategies for the successful implementation and sustainable development of urban regeneration REITs.

Design/methodology/approach

In this study, an integrated total interpretive structural modeling–matriced impact croises multiplication applique (TISM–MICMAC) approach using the TISM technique and MICMAC analysis is then implemented to explore the relationships among CSFs, demonstrate the hierarchical structure and classify these factors into clusters based on calculated driving powers and dependence.

Findings

This study has determined a final list of 11 CSFs through literature review and expert survey. The TISM model demonstrates a six-level hierarchical structure encompassing the influence transmission paths of CSFs, in which the most significant factors and links are established, while the MICMAC analysis further classifies CSFs into four clusters as a complement for the findings of the TISM technique.

Practical implications

This study offers practical implications for governments, individual and institutional investors, REITs and property managers, and other stakeholders concluded in urban regeneration REITs. The final list of determined CSFs can serve as the decision points for management and control of the implementation processes, while the findings of the TISM–MICMAC approach can be a significant reference to provide strategies for optimization and enhancement of urban regeneration REITs.

Originality/value

This study is a novel attempt to use both the TISM technique and MICMAC analysis to investigate CSFs for the implementation of urban regeneration REITs, and to address the theoretical and methodological research gaps in the existing literature.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

Keywords

Article
Publication date: 1 April 1993

Gianni Carbonaro and Eamonn D′Arcy

Discusses issues resulting from a property developer or investor′sactive involvement in urban restructuring strategies. Illustrates themwith recent European examples of…

Abstract

Discusses issues resulting from a property developer or investor′s active involvement in urban restructuring strategies. Illustrates them with recent European examples of property‐focused regeneration strategies. Argues that the developer′s decision on whether and under what form to participate in such ventures should include analysis of the affect of programme implementation and the integration of the property development component into the ‘implementation structure′.

Details

Journal of Property Valuation and Investment, vol. 11 no. 4
Type: Research Article
ISSN: 0960-2712

Keywords

Article
Publication date: 20 October 2021

Marco Reggiani

This paper aims to shed light on current initiatives of urban regeneration around the Shibuya Station area within the context of contemporary Tokyo’s place development…

Abstract

Purpose

This paper aims to shed light on current initiatives of urban regeneration around the Shibuya Station area within the context of contemporary Tokyo’s place development strategies. The objectives are twofold: to illustrate the characteristics of the plans and the planning approaches framing the interventions; and to identify the strategies employed to reshape the cityscape.

Design/methodology/approach

Using a case study approach, this paper combines data from historical and archival research, as well as policy documents and plans. These are supplemented by data from extensive fieldwork undertaken between 2015 and 2019 to critically assess and interpret the implemented policies and the outcomes of the regeneration.

Findings

The paper provides insight into the ongoing urban regeneration around the Shibuya Station area and identifies five key themes that summarise the strategies employed to transform the urban landscape in the area. Despite the apparent success and some innovations introduced by the redevelopment project, critical issues remain–especially around the privatisation of public space and the lack of a holistic approach to sustainability.

Originality/value

The paper examines a significant and timely case of urban regeneration. By critically discussing the implications of the redevelopment around Shibuya Station in the context of Tokyo’s current place development strategies, the study highlights the importance of an inclusive notion of sustainable development and contributes to the debate around Japanese urbanism and urban regeneration.

Details

Journal of Place Management and Development, vol. 15 no. 1
Type: Research Article
ISSN: 1753-8335

Keywords

Article
Publication date: 10 October 2008

Yung (Simon) Yau and Ho Ling Chan

To develop a multi‐criteria decision‐making framework for evaluating different schemes of urban regeneration project.

1815

Abstract

Purpose

To develop a multi‐criteria decision‐making framework for evaluating different schemes of urban regeneration project.

Design/methodology/approach

Urban decay in Hong Kong has long warranted community concern. To tackle the problem, there are generally two different approaches, namely building rehabilitation and redevelopment. In the past, urban regeneration was dominated by complete redevelopment. However, with the rise of the concept of sustainability, the choice of building rehabilitation is becoming increasingly popular. Nevertheless, with either option, difficulties are often encountered in balancing the diverse interests of the stakeholders, who have varied aims and ambitions for the achievements of a project. Therefore, we have developed a framework, which contains the factors to be considered when planning an urban renewal project. To obtain the relative importance of these factors in a reliable but reasonably inexpensive manner from the building‐related professionals, the Non‐structural Fuzzy Decision Support System was employed. In total, 34 building surveyors and 31 town planners were interviewed using structured questionnaires.

Findings

The set of perceived weightings of the decision criteria obtained from building surveyors was quite different from that from town planners. People of different backgrounds hold divergent views towards the relative importance of the decision criteria in an urban regeneration project.

Research limitations/implications

Due to the resource limitations, individuals from the professions of building surveying and town planning were studied only.

Practical implications

To achieve a credible decision‐making process, it is therefore advisable to have a balanced mix of members in any urban regeneration project decision making panel. Also, the framework developed in this study can be used to facilitate the decision making process in the future project.

Originality/value

This paper is the first attempt to explore the relative importance of various criteria for the decision‐making process in urban regeneration projects perceived by different professionals.

Details

Journal of Place Management and Development, vol. 1 no. 3
Type: Research Article
ISSN: 1753-8335

Keywords

Article
Publication date: 23 March 2021

Parsa Arbab and Gelareh Alborzi

Regeneration of industrial heritage aims to display the patrimony assets by launching measures to convert them into cultural spaces associated with sustainable initiatives…

Abstract

Purpose

Regeneration of industrial heritage aims to display the patrimony assets by launching measures to convert them into cultural spaces associated with sustainable initiatives for satisfying environmental, social and economic demands in the city. The adaptive transformation and reusing process of industrial heritage constitutes a crucial cultural objective and consequently must be identified in a way that simultaneously integrates preservation with conversion and conservation with refurbishment. Hence, this paper explores to develop a framework for the sustainable regeneration of industrial heritage in cities.

Design/methodology/approach

By reviewing the current literature, research and experiences on urban industrial heritage, including existing approaches, frameworks, and case studies, this study brings a theoretical and conceptual approach to sustainable regeneration of industrial heritage, which is a fundamental start point for conducting further research and performing practical projects.

Findings

Three key phases of the Initiation as decision context, including understand the characteristics and assess the significance, the Planning as decision problem, including study the feasibility, develop a policy, and prepare a proposed reuse plan, and the Execution as decision output, including implement the plan, monitor the results and review the plan should be considered regarding the sustainable regeneration of urban industrial heritage.

Originality/value

The suggested framework considers sustainable regeneration of industrial heritage in cities as a decision-making process, which requires defining the decision context, analyzing the decision problem, and finally, results in the decision output. Accordingly, it seems to help bridge the gap between various discourses and planning perspectives and make all stakeholders' involvement easier, more effective and efficient regarding the sustainable regeneration of industrial heritage in cities.

Details

Journal of Cultural Heritage Management and Sustainable Development, vol. 12 no. 3
Type: Research Article
ISSN: 2044-1266

Keywords

Article
Publication date: 27 May 2014

Simon Huston and Sébastien Darchen

The purpose of this paper is to review sustainable planning literature and investigate a major development in an Australian regional city, looking for broad sustainable…

2188

Abstract

Purpose

The purpose of this paper is to review sustainable planning literature and investigate a major development in an Australian regional city, looking for broad sustainable insights to improve urban growth management.

Design/methodology/approach

First, the authors sketched the backdrop to Ipswich and looked for the drivers propelling its rapid growth. They then generated a sustainability framework from the urban regeneration literature. In the empirical phase, they analysed a major development – the Icon project. They evaluated three of five regeneration domains using secondary sources, site observations and interviews with stakeholders and experts.

Findings

First, each city’s situation is unique, so the authors proffer no simplistic development formula. Internally, cities, including Ipswich, are spatially fragmented. Second, urban regeneration extends temporally and spatially beyond the project site boundaries or deadlines. Diminished property-driven regeneration neglects the social dimensions to sustainable housing or relegates it to an afterthought, but community participation is insufficient. Government needs to seed or drive (directly or via incentives) substantive social transformation. Projects supported with credible community social development are less risky, but, in competing for investment funds, local government can rush approve unsuitable projects.

Research limitations/implications

The analysis focused on the planning and urban design aspects of the project. Only limited demographic, economic and social analyses were conducted, and the study would also benefit from interviews with a broader sample of experts.

Practical implications

Sustainable urban regeneration needs to consider not only the unique mix of regional growth drivers and constraints, but also specific local precinct characteristics. Intelligently configured community consultation should inform but not dilute design leadership.

Originality/value

This work investigates appropriate urban responses to growth pressure for sustainable outcomes in fast-growing regional cities.

Details

International Journal of Housing Markets and Analysis, vol. 7 no. 2
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 1 February 2003

Peter Jones, David Hillier and Daphne Comfort

From 1999 onwards a number of Urban Regeneration Companies (URC) to address regeneration agendas. Provides a general introductory outline of the origins and aims of the…

3140

Abstract

From 1999 onwards a number of Urban Regeneration Companies (URC) to address regeneration agendas. Provides a general introductory outline of the origins and aims of the URCs, examines specific focuses on city centres within some of the URCs and discusses some of the issues associated with city centre regeneration.

Details

Management Research News, vol. 26 no. 1
Type: Research Article
ISSN: 0140-9174

Keywords

Article
Publication date: 1 June 2005

Alastair Adair, Norman Hutchison, Jim Burgess and Stephen Roulac

The value of land for development is normally estimated by the use of the comparative method or the residual approach. The aim of the paper is to examine appraisal…

3443

Abstract

Purpose

The value of land for development is normally estimated by the use of the comparative method or the residual approach. The aim of the paper is to examine appraisal practice, in particular the bases of valuation, availability and utilisation of data, reporting of the value figure and the management of risk.

Design/methodology/approach

The paper reports the findings of a survey of valuers from leading practices throughout the UK, bank lenders and developers. An example of an appraisal of an urban regeneration site is included in order to highlight the key issues within the discussion.

Findings

A variety of reporting practices is found from a tightly drawn range of values to single‐point estimates along with a detailed explanation of the assumptions employed. Developers and lenders favoured the latter, but they appeared to be open‐minded about a range of values or an expression of uncertainty being reported, provided that there is a clear and well supported justification. Risk management approaches are underdeveloped within the profession.

Originality/value

The valuation of urban regeneration land is said to be one of the most vexed issues in the appraisal of projects due to a lack of data transparency in urban regeneration markets, shortcomings in traditional appraisal methodologies and complexities of public sector grant procedures.

Details

Journal of Property Investment & Finance, vol. 23 no. 3
Type: Research Article
ISSN: 1463-578X

Keywords

Abstract

Purpose of this chapter

A climate of austerity has gripped the politico-economic philosophy of many nation states across Europe and beyond as governments seek to rebalance budget deficits. This presents unique challenges for those engaged in purposeful acts aiming to regenerate communities of places – the regeneration managers.

Design/methodology/approach

England provides an interesting case study to examine some of the prime challenges facing regeneration managers by focusing on the ideologies that have informed successive UK governments’ policy responses and spatial strategies. The main body of research, including interviews, was carried out between 2010 and 2012, and was subsequently updated in early 2013.

Findings

Tracing an apparent transmutation of urban regeneration policy, the chapter helps to unmask a spatially unjust neoliberal toolkit, albeit pierced by some socially motivated actually existing regeneration initiatives. The transmutation of regeneration that has taken place is often concealed by de facto austerity measures and austerity politics.

Research limitations

The programme of interviews remains ongoing, as the research continues to track the shifting contours of state-led regeneration policy. Analysis is therefore provisional and explorative, with more detailed research reports and publications subject to follow.

Practical implications

The chapter explores emerging new agendas and sets out to identify some of the primary challenges that regeneration managers must face.

Social implications

Regeneration’ as a state-led policy objective and political concern has been virtually expunged from the Coalition lexicon. The present policy preference is to target public resources in ‘value-added’ schemes that favour private oriented objectives in a highly unbalanced way.

What is original/value of paper

The curtailment of broader regeneration debates has framed discussions limited to the depth of cuts, the speed of implementation and the spatial distribution of such measures. The result is that regeneration, understood as a capitalist policy instrument intended to respond to and assuage the outcomes produced by capitalist frameworks, is no more.

Details

Looking for Consensus?: Civil Society, Social Movements and Crises for Public Management
Type: Book
ISBN: 978-1-78190-725-2

Keywords

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