scholarly journals The interplay of policy and energy retrofit decision-making for real estate decarbonization

2021 ◽  
Author(s):  
Ivalin Petkov ◽  
Christof Knoeri ◽  
Volker H. Hoffmann
Keyword(s):  
Decision Making ◽  
Real Estate ◽  
Asset Management ◽  
Large Scale ◽  
Policy Instruments ◽  
Policy Mix ◽  
Investment Planning ◽  
Real Estate Investments ◽  
Integrated Policy ◽  
Budgetary Decisions

Abstract Retrofitting existing buildings is critical for meeting global and institutional net-zero CO₂ emissions goals. Prominent energy and climate policy strategies are aiming to increase notoriously low retrofitting rates by triggering energy efficient and/or decarbonized real estate investments. Although many real estate assets are owned by large-scale investors, the interplay of their retrofit decision-making and policies are under researched. Relying on interviews with four major owner types, industry experts, and policymakers, we unpack the “black box” of retrofit investment and demonstrate how large-scale investors can transform retrofit decision-making processes to meet emissions goals. We show that to accelerate deep retrofits, policymakers should focus on integrated policy mixes, and consider the cross-impacts of policy instruments from various domains on the value-driven retrofitting decision. Instruments indirectly influencing retrofits, such as those targeting affordability or densification, represent a critical avenue for improving the retrofitting policy mix by moving away from single instruments directly targeting energy or emissions aspects. This policy mix should specifically target asset management budgetary decisions, which mainly drive investment planning relevant for deep retrofits.

scholarly journals Social (In)justice and Rental Housing Discrimination in Urban Canada: The Case of Ethno-racial Minorities in the Herongate Community in Ottawa

2021 ◽  
Vol 15 (1) ◽  
pp. 81-101
Author(s):  
Joseph Mensah ◽  
Daniel Tucker-Simmons
Keyword(s):  
Real Estate ◽  
Affordable Housing ◽  
Asset Management ◽  
Large Scale ◽  
Rental Housing ◽  
Legal Framework ◽  
Immigrant Community ◽  
Visible Minorities ◽  
Selection Of

In 2015, the predominantly visible minority immigrant community of Herongate, in Ottawa, Ontario, was slated for redevelopment by its landlord, Timbercreek Asset Management. This redevelopment involved mass eviction of the incumbent tenants, demolition of the existing affordable housing and its replacement with luxury rentals, which, by all indications, are beyond the financial reach of the former Herongage tenants. This paper seeks to problematize large-scale residential real estate redevelopment in Canada and examine its impact, using the Herongate situation as a case study. Among other things, it profiles the Herongate community, its history and present redevelopment, and explores the legal framework, and the limits thereof, constraining mass evictions of this type in Ontario. The findings indicate that the selection of Herongate for redevelopment was not fortuitous; generally, racialized and immigrant communities like Herongate are disproportionately likely to be selected for large-scale redevelopment projects, and thus subjected to mass-evictions. Further results suggest that the dissolution of the Herongate community – and the attendant dislocation of its members – has exacted a pronounced social and economic toll and compounded the racial discrimination already experienced by the former Herongate residents, most of whom are visible minorities. The paper concludes with an appeal to imbue the redevelopment process with a greater regard for social justice, and a right to housing as a policy solution to address the injustice caused by real estate redevelopment.

scholarly journals Strategic asset management approach for planning investment in a large-scale irrigation system

2020 ◽  
Vol 20 (6) ◽  
pp. 2165-2174
Author(s):  
Rita Salgado Brito ◽  
Helena Alegre ◽  
Pedro Machado
Keyword(s):  
Asset Management ◽  
Large Scale ◽  
Irrigation System ◽  
Time Frame ◽  
Management Approach ◽  
Investment Planning ◽  
Big Picture ◽  
System Breakdown ◽  
Functional Areas

Abstract Typically, large-scale irrigation systems are built almost entirely in a short time-frame, a significant part of the assets age at the same time and concentrated investment needs for rehabilitation are predictable. This paper focuses on planning these needs in an aggregated way, providing a big picture for the long term investment plan. A methodology for this purpose was developed and applied to a large-scale irrigation utility in Portugal. For such, the following steps were taken: (i) system breakdown by functional areas; (ii) infrastructure components disaggregation; (iii) diagnosis of the reference situation; (iv) evaluation of long-term alternatives for rehabilitation investment planning. The methodology is in line with the IAM approach recommended by IWA and the ISO55000 standards. In this paper, the specificities of this particular application, namely a proposal of irrigation component classes, and the studied alternatives, are presented. As an overall result, it was possible to indicate a path for economic sustainability without committing the infrastructure sustainability: it is based on gradual replacement of the assets reaching their useful life, combined with a constant rehabilitation rate. This paper is a contribution to an AM system for irrigation utilities, so alignment with IAM and the contribution to a broader IAM system is highlighted.

The new waves of financialisation: vultures and REITs

Housing Shock ◽  
2020 ◽  
pp. 131-146
Author(s):  
Rory Hearne
Keyword(s):  
Real Estate ◽  
Asset Management ◽  
Hedge Funds ◽  
Private Equity ◽  
Large Scale ◽  
Residential Property ◽  
Third Wave ◽  
Real Economy ◽  
Equity Funds ◽  
Domestic Banks

This chapter describes and details the wave of global real estate and vulture investment in distressed assets and loans, as the second wave of financialisation of residential property (housing), following the first wave of financial market and equity involvement in mortgage lending and securitisation from the late 1990s to 2008. It then defines and details a third wave of financialisation is evident in the post-2010 period as global institutional investors have increasingly invested in the private rental ‘build-to-rent’ sector. This third wave is a further development in the restructuring of the finance–real estate relationship through the increased role of large-scale corporate finance and global private equity funds (pension funds, hedge funds, wealth funds, shell funds, private equity) in the provision of rental residential property. It shows how housing and land is providing another important vehicle for investing the global ‘wall of money’ searching for higher returns in a context of reduced profitability and rising risk in the wider ‘real’ economy. It details how the Irish state’s strategy to overcome the global property and financial crash of 2008 and achieve the recovery of financial institutions and the wider economy was based on the sale of ‘toxic’ and ‘non-performing’ loans and associated land and property, at a considerable discount, to international ‘vulture funds’ and property investors via the National Asset Management Agency (NAMA) and domestic banks. The strategy was based on a deepening of the financialisation of the Irish housing (and wider property) system.

Study of factors influencing apartment prices in Prishtina, Kosovo

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Visar Hoxha ◽  
Dhurata Hoxha ◽  
Jehona Hoxha
Keyword(s):  
Decision Making ◽  
Real Estate ◽  
Research Methodology ◽  
Content Type ◽  
The Real Estate ◽  
Apartment Buildings ◽  
Factors Influencing ◽  
Real Estate Investments ◽  
Main Factors ◽  
Real Estate Developers

Purpose The purpose of this study is to identify which are the main factors influencing the apartment prices in Prishtina, the capital of Kosovo, during the period 2018–2020. The factors identified will be used by real estate developers and investors for better decision-making in apartment investments. Design/methodology/approach The research methodology is quantitative. The methodology analyzes 1,468 real estate transaction contracts of apartment buildings using a probability random sampling. The research methodology uses multiple regression analysis to identify whether the research model is significant in predicting apartment prices but also identify which are the main factors that influence the apartment prices in Prishtina, Kosovo. Findings The present study finds that location, size, floor, access to road and building quality affect apartment prices in Prishtina, whereas surprisingly access to green spaces and availability of parking spaces have no statistically significant effect on apartment prices in Kosovo. Research limitations/implications The study has great implications for the real estate developers in Prishtina, Kosovo showing how to improve their decision-making process in real estate investments to know which characteristics are most valued by investors for investment in new apartment buildings in Prishtina, Kosovo and local authorities in Prishtina, Kosovo to modernize the access to road infrastructure for its inhabitants and adopt building regulations that will enforce strict criteria as far as building quality is concerned. Originality/value The study is the first quantitative study that studies the factors influencing the apartment prices in Prishtina, Kosovo.

Real Estate Asset Management

2015 ◽  
Author(s):  
Hanspeter Gondring ◽  
Thomas Wagner
Keyword(s):  
Real Estate ◽  
Asset Management
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