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Property-led urban regeneration: panacea or placebo?

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Author Info

  • I Turok

Abstract

In recent years urban policy has come to rely increasingly on private-sector property development to provide the driving force. Popular opinion is sharply divided about the value of this approach. In this paper, an examination is made of five ways in which property could contribute to urban economic regeneration: through the direct employment effects of construction-related activity; by accommodating the expansion of indigenous firms; by attracting inward investment; by revitalising run-down neighbourhoods; and by initiating area wide economic restructuring. Appropriate property development can have positive economic effects but it has to be part of a more holistic approach that embodies concerns for people living in deprived areas and for the underlying condition of the local economy. Unrestrained market-led development may have detrimental consequences for the economic fabric of cities and for the quality of life of their residents.

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Bibliographic Info

Article provided by Pion Ltd, London in its journal Environment and Planning A.

Volume (Year): 24 (1992)
Issue (Month): 3 (March)
Pages: 361-379

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Handle: RePEc:pio:envira:v:24:y:1992:i:3:p:361-379

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Web page: http://www.pion.co.uk

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Cited by:
  1. Peter Howley, 2008. "Social Capital and the Neighbourhood," Working Papers 0823, Rural Economy and Development Programme,Teagasc.
  2. Yakup Egercioglu, 2006. "The Effects of Property Relations on Urban Renewal Project," ERSA conference papers ersa06p34, European Regional Science Association.
  3. Hermanus Geyer Jr, 2011. "The Retail City in Greater Birmingham – The changing face of urban retail districts as a result of retail-led regeneration and containment policy," ERSA conference papers ersa11p1358, European Regional Science Association.
  4. Edrissi, Ali & Poorzahedy, Hossain & Nassiri, Habibollah & Nourinejad, Mehdi, 2013. "A multi-agent optimization formulation of earthquake disaster prevention and management," European Journal of Operational Research, Elsevier, vol. 229(1), pages 261-275.

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