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Effects of Revitalization in Historical City Center of Istanbul

Listed author(s):
  • Evren Ozus

    ()

    (Nurol REIC, Project Development, Buyukdere Cad. Nurol Plaza, 71/19, Maslak, Istanbul 34398, Turkey)

  • Vedia Dokmeci

    ()

    (Professor of City and Regional Planning, Faculty of Architecture, Istanbul Technical University, Taksim, Istanbul 34430, Turkey)

This study investigates the effects of revitalization process in Beyoglu, Istanbul. Since the 1980s, spatial impacts of transformation have become apparent on Istanbul and these impacts have taken their most intense forms in the historic city centres, as Beyoglu. While Istanbul has grown through the restructuring of the urban economy, social and spatial reconstruction, and innovative transportation and communication technologies, Beyoglu has begun to regain its characteristics. Projects and investments to reconstruct Beyoglu have been successful in changing this process and have achieved their targets particularly in Beyoglu’s residential areas and the region has started to develop. In order to analyse the development process, this paper focused on the three revitalized neighbourhoods in Beyoglu, which have been popular residential areas in Istanbul. We use social, economic, and spatial indicators, such as population, property prices, and functional transformation. The revitalization process has significant effects on social, economic, and spatial structure of Beyoglu. For further studies, it will be useful to repeat this study in other historical residential areas of Istanbul in order to make comparative studies.lutes investment returns should be challenged. There is mounting evidence that RPI can be financially sound and socially beneficial. Leaders have emerged that are demonstrating its feasibility. Their activity should be considered as a basis for best practice guidelines. There is a need to develop metrics for comparing progress on RPI. We recommend: 1) establishing an RPI working group, 2) summarizing prior reports on urban issues, 3) identifying investment strategies that are profitable and responsive to the issues, 4) clarifying the financial effects of different responses and improving our means of measuring them, 5) identifying best practices, 6) adopting a rating system, 7) supporting RPI investment funds, and 8) recognizing leaders in the field.

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Article provided by Asian Real Estate Society in its journal International Real Estate Review.

Volume (Year): 8 (2005)
Issue (Month): 1 ()
Pages: 144-159

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Handle: RePEc:ire:issued:v:08:n:01:2005:p:144-159
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Asia Real Estate Society, 51 Monroe Street, Plaza E-6, Rockville, MD 20850, USA

Web page: http://www.asres.org/

Order Information: Postal: Asian Real Estate Society, 51 Monroe Street, Plaza E-6, Rockville, MD 20850, USA
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  1. Dr. Nilgun Ergun & Bulent Dundar, 2004. "Functional change as an indicator of transformation near the old city centre of Istanbul," European Planning Studies, Taylor & Francis Journals, vol. 12(5), pages 723-738, July.
  2. Chengri Ding & Robert Simons & Esmail Baku, 2000. "The Effect of Residential Investment on Nearby Property Values: Evidence from Cleveland, Ohio," Journal of Real Estate Research, American Real Estate Society, vol. 19(1), pages 23-48.
  3. C. Nil Uzun, 2003. "The impact of urban renewal and gentrification on urban fabric: three cases in Turkey," Tijdschrift voor Economische en Sociale Geografie, Royal Dutch Geographical Society KNAG, vol. 94(3), pages 363-375, 08.
  4. Robert A. Simons & Roberto G. Quercia & Ivan Maric, 1998. "The Value Impact of New Residential Construction and Neighborhood Disinvestment on Residential Sales Price," Journal of Real Estate Research, American Real Estate Society, vol. 15(2), pages 147-162.
  5. Rowland Atkinson, 2000. "Measuring Gentrification and Displacement in Greater London," Urban Studies, Urban Studies Journal Limited, vol. 37(1), pages 149-165, January.
  6. Mathieu Van Criekingen & Jean-Michel Decroly, 2003. "Revisiting the Diversity of Gentrification: Neighbourhood Renewal Processes in Brussels and Montreal," Urban Studies, Urban Studies Journal Limited, vol. 40(12), pages 2451-2468, November.
  7. Paul Dutton, 2003. "Leeds Calling: The Influence of London on the Gentrification of Regional Cities," Urban Studies, Urban Studies Journal Limited, vol. 40(12), pages 2557-2572, November.
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