scholarly journals Appraising the Likely Gentrification Impacts of a Mega Transport Project—The Case of Crossrail

2021 ◽  
Vol 4 (3) ◽  
pp. p22
Author(s):  
Junyou Liu
Keyword(s):  
National Development ◽  
Transport Infrastructure ◽  
Infrastructure Projects ◽  
Project Appraisal ◽  
Transport Project ◽  
Infrastructure Project ◽  
Multi Criteria Analysis ◽  
Negative Impacts

Megaprojects are defined as projects that cost a billion US dollars or more at 1990 prices. Mega transport infrastructure projects have the potential to affect important socioeconomic and territorial changes. They are often perceived as critical to the “success” of major metropolitan, regional and national development. The redevelopment of neighbourhoods offers many opportunities for regional regeneration, yet there remain concerns regarding the potential gentrification of areas leading to the displacement of existing populations and local businesses. This research applies multi-criteria analysis, a tool that is widely used in mega infrastructure project appraisal using the UK’s Crossrail as a case to explore the likelihood of gentrification and the displacement impacts of the project. This paper finds both positive and negative impacts. Different stakeholders express noticeably differing opinions regarding the project.

scholarly journals The Planning and Appraisal of Mega Transport Infrastructure Projects Delivered by Public–Private Partnerships: The Case for the Use of Policy-Led Multi-Criteria Analysis

2019 ◽  
Vol 11 (1) ◽  
pp. 1992-2008
Author(s):  
John Ward ◽  
Harry T Dimitriou ◽  
Brian G Field ◽  
Marco Dean
Keyword(s):  
Public Interest ◽  
National Development ◽  
Transport Infrastructure ◽  
Public Private Partnerships ◽  
Infrastructure Development ◽  
Infrastructure Projects ◽  
The Public ◽  
Project Appraisal ◽  
Multi Criteria Analysis ◽  
Development Literature

Abstract Mega transport infrastructure projects are frequently perceived as critical to the “success” of major metropolitan, regional and national development because of their potential to affect significant socioeconomic and territorial changes. However, the mega infrastructure development literature tends to focus upon the frequent failures of such projects because of their inability to meet their original expectations. A major cause for such perceived underperformance has been attributed to the inadequacies of ex-ante project appraisal methodologies. In particular, their excessively narrow focus has prompted growing calls for broader and more transparent project appraisal frameworks. These calls coincide with a period where public private partnerships (PPPs) are growing in importance globally as the favoured procurement route for governments looking to undertake new mega transport infrastructure developments. Some see the practicalities of PPPs as placing them at odds with aspirations for more inclusive and open project appraisal with adequate consideration of the public interest. It is the authors’ contention that if introduced with broader and more systematically presented sustainability concerns, PPPs can remain compatible with such ambitions. Towards this end, this paper presents the rudimentaries of a policy-led multi-criteria analysis (PLMCA) approach to project appraisal as a means by which PLMCA can contribute to more holistic PPP procurement practices. The authors contend in the latter part of the paper that PLMCA addresses many of the limitations associated with the application of narrower decision-making and project appraisal approaches currently supporting PPPs and other more conventional procurement practices.

Locating the public interest in mega infrastructure planning: The case of Sydney’s WestConnex

Urban Studies ◽  
2020 ◽  
pp. 004209802092783
Author(s):  
Glen Searle ◽  
Crystal Legacy
Keyword(s):  
Public Interest ◽  
Environmental Sustainability ◽  
Global Financial Crisis ◽  
Transport Infrastructure ◽  
Infrastructure Projects ◽  
Liberal Democracies ◽  
The Public ◽  
New Public ◽  
Infrastructure Project ◽  
The Global Financial Crisis

In Western liberal democracies the planning of mega transport infrastructure projects is guided by public interest claims typically expressed through legislation and political mandates. But with the infrastructure boom being observed in many cities since the Global Financial Crisis, and the need to address unprecedented levels of urbanisation, the level of politicisation directed at infrastructure projects draws attention to how the public interest is treated in the planning and management of complex mega transport infrastructure projects in diverse local contexts. Looking to Sydney, an advanced neoliberal city building the largest transport infrastructure project in Australian history, we examine how public interest is asserted in a way that reinforces legitimacy of the process and consensus for the project. Under these conditions, planners fail or are unwilling to raise additional or new public interest issues. The vagaries of public interest mean that in being open to interpretation the public interest can be easily captured by the interests of capital and of ruling politicians. This raises important questions for urban studies about the role governments and, in particular, public-sector planners can play in advocating for actually existing public interest issues such as environmental sustainability without it amounting to just rhetoric with no follow through.

Attractiveness of Transportation Infrastructure Projects to Private-Sector Financing: Assessing the Hierarchical Analysis, Risk Scenario Method

2000 ◽  
Vol 1732 (1) ◽  
pp. 12-21 ◽  
Author(s):  
Dimitrios Tsamboulas ◽  
Konstanzinos Panou ◽  
Constantionos Abacoumkin
Keyword(s):  
Public Sector ◽  
Private Sector ◽  
Transportation Infrastructure ◽  
Transport Infrastructure ◽  
Risk Allocation ◽  
Infrastructure Projects ◽  
The Public ◽  
Conflicting Objectives ◽  
Infrastructure Project ◽  
Private Financing

A method to identify the attractiveness for private financing of a transport infrastructure project is presented. The objective of the method is to assist the public sector in identifying the attractiveness of a transportation infrastructure project for private financing, highlighting the factors that tend to reduce such attractiveness and providing the means to examine the viability of alternative risk-allocation scenarios related to risks undertaken by the state or private sector. The method allows for the simulation of the private sector’s attitude toward risk, employing practices of risk assessment in investments. Its innovation lies in how the whole process is structured so that participants understand beforehand whether an agreement can be concluded and which factors involved are critical. A key property of the method is the ease by which priorities of different risk components are synthesized into a hierarchical form through pairwise comparisons. This method, although targeted primarily for the public sector, could assist both private and public stakeholders investing in transport infrastructure projects (termed private-public partnerships) to reach an agreement. Basically, it is an interactive process characterized by the conflicting objectives and judgments of both public and private sectors.

scholarly journals Attribute of the Effects Diversification to Eco-System from Large Investments in Supply Chain

2019 ◽  
pp. 1-11
Author(s):  
Dr. Maria F. Sartzetaki
Keyword(s):  
Decision Process ◽  
Planning Process ◽  
Evaluation Framework ◽  
Transport Infrastructure ◽  
Economic Conditions ◽  
Infrastructure Projects ◽  
Infrastructure Project ◽  
Business Establishment ◽  
Business Sectors ◽  
Development Prospects

In most of the cases the decision to invest in a new large transport infrastructure project t is not simple, mainly, because the complications in planning process, the amount of capital need to invest before the business establishment and the high number of stakeholders involved in decision process. The decision process is more complicated in restricted economic conditions and financing assumptions, where the project business plan performance is strongly related to regional development prospects and business sectors enlargement. This paper provides an attribute methodology approach to support decisions in large transport infrastructure projects based on the effects diversification to ecosystem affected by the new projects. The proposed methodology provides an evaluation framework based on a combination of an ex-ante assessment analysis taking into consideration the large transport infrastructure projects economic impact and its contribution to enlargement of the sectors of the ecosystem.

scholarly journals Multi-criteria decision analysis methods to support sustainable infrastructure construction

2019 ◽  
Author(s):  
Kristine Ek ◽  
Alexandre Mathern ◽  
Rasmus Rempling ◽  
Lars Rosén ◽  
Christina Claeson-Jonsson ◽  
...  
Keyword(s):  
Decision Analysis ◽  
Case Studies ◽  
Sustainability Assessment ◽  
Assessment Methods ◽  
Infrastructure Projects ◽  
Sustainable Infrastructure ◽  
Procurement Process ◽  
Multi Criteria Decision Analysis ◽  
Infrastructure Project ◽  
Negative Impacts

<p>The construction of infrastructure projects represents a large sustainability impact, both positive and negative. Increased positive and reduced negative impacts can be achieved through better design and planning of the construction. To make more sustainable choices, well-defined predictive sustainability assessment methods are required. Multi-criteria decision analysis (MCDA) is a well- suited method for predictive sustainability assessment. This paper evaluates two MCDA methods for sustainability assessment of infrastructure construction and exemplifies their application with two case studies. The aim of this paper is to discuss if the methods are suitable for identifying the most sustainable alternative during the procurement process of an infrastructure project. It is recommended that MCDA methods are further developed to comply with the recently published EN standard on sustainability assessment of civil engineering works.</p>

Crowdfunding for Infrastructure Project Financing

2022 ◽  
pp. 276-300
Author(s):  
Nika Pranata ◽  
Nur Firdaus ◽  
Erla Mychelisda ◽  
Achsanah Hidayatina
Keyword(s):  
High Risk ◽  
Business Models ◽  
National Development ◽  
Payback Period ◽  
Project Financing ◽  
Infrastructure Projects ◽  
Asian Countries ◽  
Alternative Source ◽  
Infrastructure Project ◽  
Financing Infrastructure

Infrastructure plays a pivotal role in national development. However, financing infrastructure projects becomes a major hurdle as it is often considered unbankable, high risk, and requires a long payback period. The use of crowdfunding as an alternative source for infrastructure project financing is flourishing, especially in European and American countries. In contrast, the utilization of crowdfunding for such purposes in Asian countries is very limited. Hence, this study reviews four crowdfunding platforms in Europe and America that have successfully raised capital for infrastructure projects which are Oneplanetcrowd, Convergence Finance, Citizenergy, and Infrashares. Learning from best practices of those platforms, policies, and regulations, the study proposes four crowdfunding business models to be implemented in Asian countries including (1) blended finance, (2) cross-border citizen funding, (3) commercial infrastructure financing, and (4) within country crowdfunding.

scholarly journals Transport infrastructure development financing problems and main investment trends in 2020

2020 ◽  
Vol 6 (1) ◽  
pp. 129-145
Author(s):  
Natalya A. Zhuravleva ◽  
Tomas Kliestik
Keyword(s):  
Economic Development ◽  
Large Scale ◽  
Transport Infrastructure ◽  
Infrastructure Development ◽  
Project Financing ◽  
Infrastructure Projects ◽  
Investment Volume ◽  
Infrastructure Project ◽  
Changes Of State

Background: The realisation of large-scale plans of Russian infrastructure development, transport in particular, requires a corresponding methodological guidance for both planning of realisation of these tasks and development of the proper financing instrumentarium. Aim: The analysis of reasons for incompliance of programme tasks with their financing conditions; formalisation of investment trends in todays economy and description of their capability to adapt to Russian projects. Methods: The method of rising from concrete to abstract and vice versa has allowed identification of important regularities of investment trends and their connection with the quality of projects; the systems principle has confirmed dependence of successful realisation of infrastructure projects on reliability of economic development forecasts and adequacy of projects financing and management. Results: The analysis of ongoing changes of state priorities and programmes, outlined in a large number of documents regulating development of transport infrastructure in Russia, has allowed identification of influence of most significant regularities, which determine effectiveness of these solutions. All available transport infrastructure project financing sources have been systemised, considering investment volume and their status in the market. The statement that it is exactly the loan-based financing sources, concession in the first instance, that can be the most efficient in infrastructure projects realisation, has been confirmed.

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