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Financing Property's Contribution to Regeneration

Author

Listed:
  • Alastair Adair

    (Centre for Research on Property and Planning, School of the Built Environment, University of Ulster, Shore Road, Newtownabbey, County Antrim, Northern Ireland, BT37 0QB. as.adair@ulster.ac.uk)

  • Jim Berry

    (Centre for Research on Property and Planning, School of the Built Environment, University of Ulster, Shore Road, Newtownabbey, County Antrim, Northern Ireland, BT37 0QB.jn.berry@ulster.ac.uk)

  • Stanley McGreal

    (Centre for Research on Property and Planning, School of the Built Environment, University of Ulster, Shore Road, Newtownabbey, County Antrim, Northern Ireland, BT37 0QB. wsmcgreal@ulster.ac.uk)

Abstract

Attracting investment and finance into inner-city and other renewal areas poses particular difficulties and is frequently reliant on strong public-sector commitment through special incentives or other mechanisms to provide the conditions to lever private-sector activity. This paper initially links the concept of market failure and the rationale for regeneration and examines policy responses from UK, European and US perspectives, followed by a consideration of public- and private-sector financing approaches. International perspectives draw particularly upon the use of tax-based mechanisms in regeneration—notably, those used in the US. In the European context, the paper highlights implications for regeneration stemming from the interpretation of State Aid rules and competition policy. Conclusions reflect upon the complexity of regeneration and the importance of the different stakeholders within the regeneration process.

Suggested Citation

  • Alastair Adair & Jim Berry & Stanley McGreal, 2003. "Financing Property's Contribution to Regeneration," Urban Studies, Urban Studies Journal Limited, vol. 40(5-6), pages 1065-1080, May.
    • Handle: RePEc:sae:urbstu:v:40:y:2003:i:5-6:p:1065-1080
    DOI: 10.1080/0042098032000074326
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    References listed on IDEAS

    as
    1. Dye, Richard F. & Merriman, David F., 2000. "The Effects of Tax Increment Financing on Economic Development," Journal of Urban Economics, Elsevier, vol. 47(2), pages 306-328, March.
    2. I Turok, 1992. "Property-Led Urban Regeneration: Panacea or Placebo?," Environment and Planning A, , vol. 24(3), pages 361-379, March.
    3. Iain Begg, 2002. "'Investability': The Key to Competitive Regions and Cities?," Regional Studies, Taylor & Francis Journals, vol. 36(2), pages 187-193.
    4. repec:arz:wpaper:eres1999-195 is not listed on IDEAS
    5. Norman E. Hutchison & David Adams & Alan Disberry, 1999. "Taxes, Subsidies and the Behaviour of Brownfield Owners," ERES eres1999_195, European Real Estate Society (ERES).
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Michelle Norris & Menelaos Gkartzios & Dermot Coates, 2014. "Property-led Urban, Town and Rural Regeneration in Ireland: Positive and Perverse Outcomes in Different Spatial and Socio-economic Contexts," Open Access publications 10197/4952, Research Repository, University College Dublin.
    2. Ruth Lupton & Crispian Fuller, 2009. "Mixed Communities: A New Approach to Spatially Concentrated Poverty in England," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 33(4), pages 1014-1028, December.

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