Urban Production and its Relevance to Real Estate Management

Jan Schaaf

ERES from European Real Estate Society (ERES)

Abstract: The debate about urban production has been fanned by various drivers. Thanks to the new technologies of the fourth industrial revolution, the merger of the production and service sectors, and advances in environmental engineering leading to reduced harmful emissions, it is now feasible for certain areas of production to return to towns and cities. Apart from technological innovations, this departure from the usual ‘greenfield’ sites is also favoured by economic, ecological and social trends. They include reurbanization and demographic change, not to mention a growing awareness of sustainability. Above all, however, what makes urban production so appealing, possibly even imperative, is the growing trends towards individualization coupled with the desire for a better balance between family, private life and work, which is part of the vision for the European city. Urban production currently lacks a conclusive definition. Generally speaking, urban production combines modern production techniques with modern urban locations where smart production is enabled by product diversity. Urban production can mean quite a lot, namely: urban manufacturing, urban industries, and also urban agriculture or urban farming. The paper is concentrated on urban industry. This is partly because central Germany has an industrial background, and partly because there are already a number of research projects on urban manufacturing by artisan businesses. Furthermore, it is important to distinguish between whether a production site has become urban by chance or by design. Urban production poses very different challenges depending on which situation applies. The Paper is focused primarily on urban production locations that were consciously developed as such and on the following questions: What industrial sectors are suitable for (conscious) urban settlement? How can existing areas like industrial and commercial estates be suitably upgraded? How can business networks be established for the smart, sustainable use of commercial sites? How relevant are these findings for real estate management, for example for the revitalization and redevelopment of existing real estate and in particular of derelict industrial buildings? Furthermore aims are the initiation of ‘Industry and Sustainability’ transformation laboratories, the reorientation of technology and business incubators and Professionalization in the management of corporate real estate. For all these approaches, it is essential to be aware of the processes behind urban production. Only then can the right concepts and measures be applied in real estate management to create attractive urban locations.

Keywords: Corporate real estate; redevelopment; urban industries; Urban production (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2021-01-01
New Economics Papers: this item is included in nep-isf and nep-ure
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