The Sustainability of a Financialized Urban Megaproject: The Case of Sihlcity in Zurich
AbstractFinancialization and sustainable urban planning are now two major components of urban production and landscape change in Western cities. The purpose of this article is to demonstrate how the intervention of financial actors influences urban sustainability in the building of megaprojects, by developing a conceptual framework for analysis and interpretation. This framework aims first to examine the way in which sustainability has been produced by the different actors involved in a real-life situation, and then to place these interactions in their institutional, spatial and temporal context. Consequently, sustainability is understood as a social construct which is the object of negotiations that have led to the making of institutional arrangements in order to allow the project to be carried through. This framework has been constructed from the financial geography and urban geography literature on ‘finance, the city and sustainability’ and from a case study. The latter looks at the regeneration of a brownfield site to create a shopping and leisure complex that was the biggest in Switzerland and was purchased by financial actors.
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Bibliographic InfoPaper provided by GRET Group of Research in Territorial Economy, University of Neuchâtel in its series GRET Publications and Working Papers with number 04-12.
Length: 22 pages
Date of creation: Apr 2012
Date of revision:
Publication status: Published in International Journal of Urban and Regional Research, May 2012, Pages 1-22
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Financial actors; public–private partnerships; urban sustainability; territorial and institutionalist approach; urban megaproject; Switzerland; Zurich;
Other versions of this item:
- 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.
- D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- G1 - Financial Economics - - General Financial Markets
- G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
- Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
- R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
- R51 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Finance in Urban and Rural Economies
This paper has been announced in the following NEP Reports:
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