Financing real estate and urban regeneration in Iran

In recent years, the authorities of Puerto Vallarta have embarked on an urban regeneration pro‑ cess that allows real estate developers to excessively build apartments for tourism purposes, as evidence by the current situation in two of the iconic places in the destination: The Romantic Zone and Marina Vallarta. The objective of the work is to analyze the touristification process that the city faces as a result of real estate development and the transformation of housing and commerce in these areas. The study is of a mixed type and includes discourses about the modernization of the city and the perception of residents in local newspa‑ pers, the results of which show the accelerated process of touristification facing the city.

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Public Space, Tourism and Mobility. Projects, Impacts and Tensions in Lisbon’s Urban Regeneration Dynamics

The Journal of Public Space ◽

10.32891/jps.v4i2.1203 ◽

2019 ◽

pp. 29-56

Author(s):

João Rafael Santos

Keyword(s):

Real Estate ◽

Public Space ◽

Large Scale ◽

Central Government ◽

Public Investment ◽

Population Decline ◽

Housing Prices ◽

Urban Regeneration ◽

Real Estate Market ◽

The Impact

In the wake of severe economic slowdown during the 2008-2015 crisis, and despite continued constraints on public investment in large scale infrastructure, Lisbon is emerging as one of the most attractive destinations in Europe. Tourism has been driving major spatial, functional and social changes, initially in the city’s historical districts, and nowadays exerts impact across a much larger urban and regional area. Tourism, together with new drivers of the real-estate market, is promoting the renovation of formerly vacant or rundown built stock, taking advantage of a rather fragile socio-economic milieu and changing the face of residential, commercial and public space landscapes. Recently upgraded transportation nodes and extensive improvements on public space have also played a meaningful role in this process. Central government and municipality rationale have underpinned its role in providing accessibility, “attractivity”, and “heritage valorisation”, aiming to attract young residents after decades of resident population decline. In contrast to considerable public investment in public space and infrastructure, very limited funding or policy has been targeted at maintaining an affordable housing and real-estate market: thus leaving much of the public investment return to the private sector. Criticism of gentrification and “touristification”, rising housing prices, and pressure on infrastructure is growing accordingly. The paper provides insight into aspects of this process, with a focus on the relational aspects of mobility upgrade, public space renewal and inner-city urban regeneration. Several urban projects are mapped and broadly characterised in their spatial and functional relationship with tourism. An interpretative framework that combines them with the forms of territorialisation and the main conflicts and tensions is offered as a contribution to the ongoing discussion. Conclusions point to the complex and powerful role that public space and mobility infrastructure play in the impact of territorialising tourism: as supports for better qualified, multi-scalar and shared urban spaces and as drivers of a more balanced, diverse and socially-inclusive urban tourism development.

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El distrito cultural y creativo del Digbeth (Birmingham, Reino Unido) y sus planes de regeneración urbana

Arte y Políticas de Identidad ◽

10.6018/reapi.506261 ◽

2021 ◽

Vol 25 ◽

pp. 181-204

Author(s):

Jennifer García Carrizo

Keyword(s):

Real Estate ◽

Participant Observation ◽

Urban Regeneration ◽

City Council ◽

Development Plan ◽

Secondary Sources ◽

Investment Plan ◽

Big City ◽

Object Of Study ◽

City Plan

The object of study of this research is the Digbeth cultural and creative district, located in Birmingham, United Kingdom. The main objective is to analyze the urban regeneration processes and the different plans proposed by different entities to restore and revitalize the area. To achieve this, different data collection techniques have been used, such as in-depth interviews, in which the model developed by Charmaz and Belgrave (2014) was followed; the bibliographic review of primary and secondary sources and the participant observation as a complete observer. As a result, a scrupulous analysis is carried out of the urban regeneration plans that the Birmingham City Council has proposed regarding the Eastside area, where Digbeth is located, such as the Big City Plan (Birmingham City Council, 2011), the Birmingham Development Plan 2031 (Birmingham City Council, 2017) and specific redevelopment plans for the area, such as the Curzon Investment Plan (Birmingham City Council, 2016). Likewise, the different regeneration plans developed by private initiatives such as Oval Real Estate for Digbeth are considered, analyzed and detailed, as well as the strategic visions and specific proposals for the regeneration of the area. Esta investigación tiene como objeto de estudio el distrito cultural y creativo del Digbeth, situado en Birmingham, Reino Unido. Su principal objetivo es analizar los procesos de regeneración urbana y los diferentes planes propuestos por diferentes entes con la finalidad de rehabilitar y revitalizar el área. Para ello, se han usado diferentes técnicas de recolección de datos, como las entrevistas en profundidad, en las que se siguió el esquema de preguntas desarrollado por Charmaz y Belgrave (2014); la revisión bibliográfica tanto de fuentes primarias como secundarias y la observación participante, con carácter de observador completo. Como resultado, se realiza un escrupuloso análisis de los planes de regeneración urbana que el Ayuntamiento de la Birmingham plantea vinculados a la zona del Eastside, en la que se encuentra el Digbeth, como son el Big City Plan (Birmingham City Council, 2011), el Birmingham Development Plan 2031 (Birmingham City Council, 2017) y planes específicos para la remodelación para el área, como el Curzon Investment Plan (Birmingham City Council, 2016). Igualmente, se consideran, analizan y detallan los diferentes planes de regeneración desarrollados por iniciativas privadas como Oval Real Estate para el Digbeth, así como las visiones estrategias y las propuestas específicas de regeneración del área.

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Social Housing: An Appraisal Model of the Economic Benefits in Urban Regeneration Programs

Sustainability ◽

10.3390/su12020609 ◽

2020 ◽

Vol 12 (2) ◽

pp. 609 ◽

Cited By ~ 2

Author(s):

Lucia Della Spina ◽

Francesco Calabrò ◽

Alessandro Rugolo

Keyword(s):

Decision Making ◽

Real Estate ◽

Social Housing ◽

Urban Regeneration ◽

Economic Benefits ◽

Real Estate Market ◽

Economic Feasibility ◽

Ease Of Use ◽

Decision Making Process ◽

Financial Feasibility

The decision-making process relating to Social Housing (SH) policies and projects involves social and urban transformations and is consequently linked to urban planning, urban regeneration projects, the dynamics of the real estate market and cooperation between public and private developers. Furthermore, this decision-making process must be supported by assessments relating to economic feasibility and assessments on social and environmental sustainability. The paper illustrates a decision support evaluation model for the implementation of integrated urban redevelopment programs related to Social Housing interventions to be implemented in PPP. The model is based on the search for an economic balance between the interests of the parties involved, with the aim of maximizing the share of housing in SH by minimizing the public contribution quota. The model was developed on a degraded settlement of Public Residential Construction, the subject of a wider urban regeneration program in the Municipality of Reggio Calabria (Italy). Considering the financial feasibility constraint for the developer and the conditions of the local real estate market, with the risk of the investment attached to it, the model makes it possible to verify the economic sustainability and the financial feasibility of the interventions in SH through the estimation of: (i) The profit of the developer/investor; (ii) the trade-in value to be paid to the developer against the investment; (iii) the maximum share of SH to be carried out in development. The research and the results obtained highlight the utility of the model and the ease of use in the programming phase, in relation to urban regeneration programs that involve interventions in SH.

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The land rent as a tool for reuse of existing real estate (against the policy of unsustainable growth of “new” real estate development)

Valori e Valutazioni ◽

10.48264/vvsiev-20202710 ◽

2020 ◽

Vol 27 ◽

pp. 101-110

Author(s):

Mario Cerasoli ◽

Gianluca Mattarocci

Keyword(s):

Real Estate ◽

Urban Areas ◽

Smart Cities ◽

Urban Regeneration ◽

Public Institutions ◽

Real Estate Development ◽

Land Rent ◽

The Real Estate ◽

Collective Interest ◽

Role Of The State

Starting from 2008 the real estate crisis changed the approach to the development and transformation of urban areas more than many urban planning tools, effectively regulating the development and transformation of urban areas. In the new scenario, the role of the State and public institutions for driving the transformation of cities has gradually decreased, also due to the inefficiency related to the pachydermic and oxidized bureaucracy. Nowadays, urban regeneration – the transformation of existing real estate assets – is the new channel of intervention that is usually delegated to private initiatives: recovery of past industrial areas, railway stations and tracks, and existing (also historical) buildings. Talking about urban regeneration means shifting the focus on issues such as that of smart cities, favouring the existing urban fabric and, even more so, the historical city It also means taking care of the immense heritage of small historic centres, which must necessarily become an engine for rebalancing the territory and economic development, albeit “slow”. Based on an economic-urban combined analysis, this document illustrates the opportunities that urban regeneration can (and should) have on the housing market and society and which must be then the (good mechanisms) government by public institutions that are in charge of governing the territory, to achieve a reasonable balance between collective interest and private interest (without demonizing the income). Against the policy of unsustainable growth of new real estate development!

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