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Urban Redevelopment Concept (URC) for Existing Neighbourhoods

2010

Abstract

Europe faces a huge challenge in renovating the energy hungry concrete suburbs constructed during the periods of urbanization. Especially, in the Nordic countries these concrete suburbs represent large housing stock, which is now facing extensive renovations. Deficiencies of the traditional sequential construction and planning to cope with this major challenge are becoming more and more evident, and new approaches for improving the dialogue between all actors for low-energy urban redevelopment are becoming crucial. Similarly, the studies in the field of real estate and construction economics have mainly concerned the feasibility of low-energy design options from the construction cost and process perspective. However, hardly any studies have approached the issue from the opportunity, i.e. value creation perspective in a suburban context. The purpose of this research is to rethink the "suburban challenge" and to innovate a value creation strategy for the concrete suburbs. The study presents an Urban Redevelopment Concept (URC), which tries to maximize the value of redevelopment to the users and owners of the buildings. URC recognizes the multi stakeholder environment of urban innovations and presents a new urban redevelopment framework based on urban-design-management thinking. The new concepts test the role and requirements of an external urban manager, as well as a new financing approach based on the logics of investment markets instead of solely traditional loan markets. The URC concept was tested in one major neighbourhood redevelopment project. The first results of the framework show a significant change in the direction of the suggested urban planning and design solutions. Instead of adding costs to the owners and tenants, the framework has produced a solution where urban planning supports urban design innovations and value creation for both the internal (tenants and owners) and the external (investors, authorities, customers) stakeholders.