scholarly journals Reconstruction or Reuse? How Real Estate Values and Planning Choices Impact Urban Redevelopment

2020 ◽  
Vol 12 (10) ◽  
pp. 4060 ◽  
Author(s):  
Alessia Mangialardo ◽  
Ezio Micelli
Keyword(s):  
Real Estate ◽  
Urban Redevelopment ◽  
Small Cities ◽  
Metropolitan Cities ◽  
Property Owners ◽  
Economic Expectations ◽  
Private Investors ◽  
Real Estate Assets ◽  
The Relationship

Local administrators and private investors rely on various urban redevelopment strategies, the choice of which depends on the economic expectations of property owners and investors. Some of these options foresee replacing obsolete buildings with new constructions; others prefer the reuse of existing assets. This study examines the conditions that make these different strategies feasible, bringing to light the aspects that favor demolition and reconstruction processes over interventions based on the redevelopment of existing assets. The analysis focuses on the variables that determine the choice between these two options. The model that has been developed highlights, on one hand, the role of urban planning tools and urban densification and, on the other, the relationship between the land market and the value of existing assets. The model has been tested on five cities in northern Italy, which fall into three territorial categories—large metropolitan cities, medium-sized cities, and cities of limited rank—to test how different social and economic contexts affect the feasibility of the strategies we evaluated. The results of the study underscore the extent to which the demolition and reconstruction of existing assets is only viable in certain limited areas and under particular market and settlement conditions. While large metropolitan areas seem to have the option of radically replacing existing real estate assets, medium-sized cities and especially small cities are constrained in redeveloping existing urban assets and must forego demolition and reconstruction projects, which do not prove to be economically feasible.

scholarly journals A PROACTIVE PROPERTY MANAGEMENT MODEL THAT INTEGRATES REAL ESTATE PROVISION AND FACILITIES SERVICES MANAGEMENT

2005 ◽  
Vol 9 (1) ◽  
pp. 33-42 ◽  
Author(s):  
Danny Shiem-Shin Then
Keyword(s):  
Real Estate ◽  
Management Model ◽  
Property Management ◽  
Workplace Environment ◽  
Business Plans ◽  
Corporate Workplace ◽  
Estate Property ◽  
The Creation ◽  
Real Estate Assets

The creation of suitable workplace environment to support employees in performing their tasks is becoming a key issue for many organisations faced with constant change. Numerous workplace strategies have evolved in recent years to provide for convenience and flexibility, as well as functionality and privacy. Problems usually arise at the implementation stage where organisation culture and practices often run counter to the need for innovation strategies. This paper contents that the creation of enabling workplace requires a proactive property management model that integrate real estate provision and facilities services management. The value contribution of real estate assets can only be optimised when the property/facilities professional takes on the responsibility of continuously providing appropriate facility solutions to business challenges. An essential prerequisite is the role of property/facilities management as the custodian and enabler of the corporate workplace environment. The focus of the research was to provide a business perspective to the role of real estate assets(property) in supporting the fulfilment of corporate business plans. Based a comprehensive survey of published literature and a series of in‐depth interviews of corporate real estate/property/facilities managers, an integrating resources management framework was developed to model the nature of interactions between strategic business planning and facility operations in an organisational setting.

Cities for profit: Profit-driven gentrification in Seoul, South Korea

Urban Studies ◽  
2017 ◽  
Vol 55 (12) ◽  
pp. 2603-2617 ◽  
Author(s):  
Seon Young Lee
Keyword(s):  
South Korea ◽  
Physical Environment ◽  
Urban Redevelopment ◽  
Key Factors ◽  
For Profit ◽  
High Rise ◽  
Exchange Value ◽  
Property Owners

Urban redevelopment in Korea has worked effectively as new-build, high-rise gentrification, since it is directly connected with social upgrading as a result of the improvement of the physical environment. This research attempts to explain the role of place entrepreneurs, especially property owners, in urban redevelopment and unravel key factors and their relationship to such redevelopment. The formation and nature of pro-gentrification coalitions is explored through a case study conducted in Yongsan, Seoul. Urban redevelopment processes have been primarily governed by the exchange value interests of property owners. Absentee landlords comprise the majority of property owners who have played the role of speculative investors. Even though owner-occupiers know they cannot afford to return after urban redevelopment, they do not strongly oppose urban redevelopment as long as they can share in urban redevelopment profit. To sum up, property owners play an important role as developers in the Korean urban redevelopment system and they accelerate gentrification.

Water Infrastructure and Practical Knowledge in Progressive-Era Los Angeles

2020 ◽  
Vol 102 (4) ◽  
pp. 385-419
Author(s):  
Jan Hansen
Keyword(s):  
Los Angeles ◽  
Progressive Era ◽  
Practical Knowledge ◽  
Health Authorities ◽  
Property Owners ◽  
History Of ◽  
The Rich ◽  
The Relationship ◽  
Municipal Health

This article proposes that a history-of-knowledge approach offers innovative ways to study the use of domestic infrastructure in the household. More specifically, the article investigates the role of knowledge about water fixtures, such as meters, taps, and toilets, in the history of progressive-era Los Angeles. Building on the rich literature about how Los Angeles obtained its water, this article shifts the focus to the relationship that everyday consumers had with their water and how technology mediated this relationship. While the article analyzes three major fields of knowledge about the use of infrastructure (knowledge about personal and public hygiene, about the maintenance and repair of fittings, and about responsible levels of water consumption), it foregrounds users’ agency in construing bodies of knowledge. Taken together, this article argues, first, that practical knowledge about water as a modern convenience was mutually developed by the utility’s publicity department, meter men, municipal health authorities, elected officials, newspaper editors, middle-class reformers, property owners, working-class immigrants, and female householders. Second, the article emphasizes the dynamics, contingency, and locality of this knowledge, which was linked to the stunning growth of Los Angeles between 1880 and 1930.

Impact of safety management system on safety performance: the mediating role of safety responsibility

2020 ◽  
Vol 27 (10) ◽  
pp. 3155-3170 ◽  
Author(s):  
Ruipeng Tong ◽  
Na Zhang ◽  
Xiaolong Wang ◽  
Hui Zhao
Keyword(s):  
Real Estate ◽  
Management System ◽  
Safety Management ◽  
Safety Performance ◽  
Real Estate Industry ◽  
Content Type ◽  
Mediating Role ◽  
The Impact ◽  
The Relationship

PurposeSafety management system (SMS) has been widely adopted to explore its influence on safety performance (SP). However, most existing researches recognized SMS as a one-dimension structure and neglected the influences of its subdimensions. Similarly, the impact of safety responsibility (SR) on SP received little attention. This study aims to explore the relationship between subdimensions of SMS and SP, while incorporating the mediating effect of SR.Design/methodology/approachThe research data were gathered from safety management evaluation report of a large real estate enterprise in China during 2010–2017. This paper carries out a series of data analyses to explore the impact of SMS and SR on SP. In order to analyze the synergistic impacts of SMS and SR on SP, path analysis, correlation analysis and mediation analysis were conducted using hypotheses concerning with the main subdimensions.FindingsThe results indicated SMS and SR decreased the project risk level and improved SP of real estate projects. Furthermore, the effect of SR partially mediated the relationship between the SMS and SP.Practical implicationsFindings in this research contribute to improve SP in real estate industry as well as other industries by the active assumption of SR and the successful implementation of SMS.Originality/valueThis research shows the relationship between subdimensions of SMS and SP and the mediating role of SR on SMS–SP relationship to improve SP in real estate industry.

Campus development as catalyst for innovation

2018 ◽  
Vol 20 (2) ◽  
pp. 84-102 ◽  
Author(s):  
Flavia Curvelo Curvelo Magdaniel ◽  
Hans De Jonge ◽  
Alexandra Den Heijer
Keyword(s):  
Real Estate ◽  
Content Type ◽  
Theoretical Concepts ◽  
Theoretical Contribution ◽  
Efficient Resource ◽  
Urban Level ◽  
Decision Making Processes ◽  
The Relationship

Purpose This paper aims to model the relationship between innovation and real estate, providing campus managers with a tool that illustrates how campus development stimulates innovation and that guides them to add value to their organisations. Design/methodology/approach The authors review previous research and build theory from the study of two cases. They shape a hypothesis by linking various theoretical concepts and by verifying it with empirical data to finally model how campus development stimulates innovation. Findings Findings suggest that campus development facilitates five conditions required to stimulate innovation through decisions and interventions over long-term periods. These findings acknowledge that location is key to explain campus development as a catalyst for innovation. In addition, this paper identifies potential issues in decision-making processes that can inhibit the facilitating role of real estate in innovation. Practical implications A framework clarifying the path to stimulate innovation through real estate will allow campus managers to steer their real estate strategies in line with this specific organisational goal and to better communicate how their decisions add value to their organisations. Social implications Findings advocate a more effective and efficient resource allocation for campus development in and around cities. Originality/value Until now, studies on stimulating innovation through real estate have focussed on workplace level. A core theoretical contribution of this paper is enlarging the application scope of CREM theories to the urban level involving multiple organisations.

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