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Development Cultures and Urban Regeneration

Author

Listed:
  • Simon Guy

    (School of Architecture and Planning and Landscape, University of Newcastle, Claremont Tower, Newcastle upon Tyne, NEI 7RU, UK, s.c.guy@newcastle.ac.uk)

  • John Henneberry

    (Department of Town and Regional Planning, University of Sheffield, Western Bank, Sheffield, S10 2TN, UK, j.henneberry@sheffield.ac.uk)

  • Steven Rowley

    (Department of Town and Regional Planning, University of Sheffield, Western Bank, Sheffield, S10 2TN, UK, s.rowLey@sheffield.ac.uk)

Abstract

The importance of levering private finance and investment into urban regeneration is a central consideration of policy. Attention has focused on institutional investors' motives for holding regeneration investments and on how they might be encouraged to put more money into inner-city areas. The paper argues that, while helpful, the impact of such an approach upon urban regeneration will be limited. This is because, by definition, institutional investors are only interested in institutional property and buildings which do not conform to this frame of reference will not be of interest to them. However, other actors see things differently. Independent developers embrace the challenge presented by fringe locations, mixed uses and the local urban culture and aesthetic—and translate these characteristics into development values. Urban policy needs to address the contrasting ways in which the nature, construction and application of investors' strategic rationality intercept with local development conditions. In particular, greater emphasis should be given to encouraging independent, locally based forms of property investment and development.

Suggested Citation

  • Simon Guy & John Henneberry & Steven Rowley, 2002. "Development Cultures and Urban Regeneration," Urban Studies, Urban Studies Journal Limited, vol. 39(7), pages 1181-1196, June.
    • Handle: RePEc:sae:urbstu:v:39:y:2002:i:7:p:1181-1196
    DOI: 10.1080/00420980220135554
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    References listed on IDEAS

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    1. Martin Hoesli & Colin Lizieri & Bryan MacGregor, 1997. "The Spatial Dimensions of the Investment Performance of UK Commercial Property," Urban Studies, Urban Studies Journal Limited, vol. 34(9), pages 1475-1494, August.
    2. Michael Ball, 1998. "Institutions in British Property Research: A Review," Urban Studies, Urban Studies Journal Limited, vol. 35(9), pages 1501-1517, August.
    3. Stephen Quilley, 2000. "Manchester First: From Municipal Socialism to the Entrepreneurial City," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 24(3), pages 601-615, September.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Yafei Liu, 2022. "Space Reproduction in Urban China: Toward a Theoretical Framework of Urban Regeneration," Land, MDPI, vol. 11(10), pages 1-22, September.
    2. Jesper Ole Jensen & Jacob Norvig Larsen & Kresten Storgaard, 2011. "Generating private co-investments in area-based urban regeneration: Lessons from Denmark," ERES eres2011_343, European Real Estate Society (ERES).
    3. Siân Butcher, 2020. "Appropriating rent from greenfield affordable housing: developer practices in Johannesburg," Environment and Planning A, , vol. 52(2), pages 337-361, March.
    4. Antoine Guironnet & Katia Attuyer & Ludovic Halbert, 2016. "Building cities on financial assets: The financialisation of property markets and its implications for city governments in the Paris city-region," Urban Studies, Urban Studies Journal Limited, vol. 53(7), pages 1442-1464, May.
    5. John Henneberry & Claire Roberts, 2008. "Calculated Inequality? Portfolio Benchmarking and Regional Office Property Investment in the UK," Urban Studies, Urban Studies Journal Limited, vol. 45(5-6), pages 1217-1241, May.
    6. Leandro Nogueira de Freitas, 2009. "Passage Roads in Megacities: the case of Dr. Zuquim Street in São Paulo, Brazil," LARES lares2009_175-347-1-rv, Latin American Real Estate Society (LARES).
    7. Ingrid Nappi-Choulet, 2006. "The Role and Behaviour of Commercial Property Investors and Developers in French Urban Regeneration: The Experience of the Paris Region," Urban Studies, Urban Studies Journal Limited, vol. 43(9), pages 1511-1535, August.
    8. Sofia Dermisi, 2005. "Attracting redevelopment in “inner-ring” municipalities of U.S. metropolitan areas – focusing on Los Angeles and Boston," Urban/Regional 0509008, University Library of Munich, Germany.
    9. Yunpeng Zhang, 2022. "TEMPORAL POLITICS AND INJUSTICE IN MEGA URBANIZATION: Lessons from Yangzhou, China," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 46(4), pages 558-575, July.
    10. Andy Pratt, 2017. "The rise of the quasi-public space and its consequences for cities and culture," Palgrave Communications, Palgrave Macmillan, vol. 3(1), pages 1-4, December.
    11. Thierry Theurillat, 2011. "La ville négociée : entre financiarisation et durabilité," Géographie, économie, société, Lavoisier, vol. 13(3), pages 225-254.
    12. Thierry Theurillat & Olivier Crevoisier, 2013. "The Sustainability of a Financialized Urban Megaproject: The Case of Sihlcity in Zurich," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 37(6), pages 2052-2073, November.
    13. Joe Doak & Nikos Karadimitriou, 2007. "(Re)development, Complexity and Networks: A Framework for Research," Urban Studies, Urban Studies Journal Limited, vol. 44(2), pages 209-229, February.
    14. Thierry Theurillat & Jose Corpataux & Olivier Crevoisier, 2008. "Property Sector Financialization: The Case of Swiss Pension Funds (1992--2005)," European Planning Studies, Taylor & Francis Journals, vol. 18(2), pages 189-212, December.
    15. David Adams & Robert Croudace & Steve Tiesdell, 2012. "Exploring the ‘Notional Property Developer’ as a Policy Construct," Urban Studies, Urban Studies Journal Limited, vol. 49(12), pages 2577-2596, September.
    16. Yiming Wang & Pengcheng Xiang, 2019. "Investigate the Conduction Path of Stakeholder Conflict of Urban Regeneration Sustainability in China: the Application of Social-Based Solutions," Sustainability, MDPI, vol. 11(19), pages 1-18, September.
    17. Christian Livi & Pedro Araujo & Olivier Crevoisier, 2012. "Les territoires de l'innovation "durable": des milieux locaux à la communication "responsable". Les cas du photovoltaïque et de la finance durable en Suisse occidentale," GRET Publications and Working Papers 05-12, GRET Group of Research in Territorial Economy, University of Neuchâtel.
    18. Richard Ballard & Siân Butcher, 2020. "Comparing the relational work of developers," Environment and Planning A, , vol. 52(2), pages 266-276, March.
    19. Muhammad Adil Rauf & Olaf Weber, 2021. "Urban infrastructure finance and its relationship to land markets, land development, and sustainability: a case study of the city of Islamabad, Pakistan," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(4), pages 5016-5034, April.
    20. Michael Ball & Laurent Le Ny & Paul J. Maginn, 2003. "Synergy in Urban Regeneration Partnerships: Property Agents' Perspectives," Urban Studies, Urban Studies Journal Limited, vol. 40(11), pages 2239-2253, October.
    21. Steven Henderson, 2010. "Developer Collaboration in Urban Land Development: Partnership Working in Paddington, London," Environment and Planning C, , vol. 28(1), pages 165-185, February.
    22. Mike Raco & Daniel Durrant & Nicola Livingstone, 2018. "Slow cities, urban politics and the temporalities of planning: Lessons from London," Environment and Planning C, , vol. 36(7), pages 1176-1194, November.
    23. Ulrich Kriese & Roland W. Scholz, 2011. "The Positioning of Sustainability within Residential Property Marketing," Urban Studies, Urban Studies Journal Limited, vol. 48(7), pages 1503-1527, May.
    24. Martijn van den Hurk & Tuna Tasan-Kok, 2020. "Contractual arrangements and entrepreneurial governance: Flexibility and leeway in urban regeneration projects," Urban Studies, Urban Studies Journal Limited, vol. 57(16), pages 3217-3235, December.

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