Redeveloping derelict and underused historic city areas: evidence from a survey of real estate developers

Paolo Rosato, Anna Alberini, Valentina Zanatta and Margaretha Breil

Journal of Environmental Planning and Management, 2010, vol. 53, issue 2, 257-281

Abstract: Are economic incentives and regulatory relief useful tools for encouraging reuse of abandoned or under-utilised urban sites with historic buildings? Answering this question is of key importance for many European cities and for older US cities, and has important implications in terms of urban sustainability and “smart growth” initiatives. This study uses conjoint choice experiments to explore the relative importance of economic incentives, regulatory relief, land use and property regime offerings at under-utilised historic sites in Venice, Italy. Real estate developers and investors were surveyed, and asked to choose between pairs of hypothetical projects in three Venice locations, as well as between one of these projects and the alternative to do a development project elsewhere. Statistical models of the responses to these choice questions indicate that respondents were sensitive to the price of acquiring the land (and hence to any policies that influence prices), and particularly sensitive to the property regime that would be granted to developers and investors and to the allowable land use. It is concluded that the city should focus on offering land uses and property regimes that are more in tune with developer demand.

Keywords: conjoint choice experiments; real estate developers; building conservation restrictions; redevelopment incentives; brownfields; infill redevelopment (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (5)

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Related works:
Working Paper: Redeveloping Derelict and Underused Historic City Areas: Evidence from a Survey of Real Estate Developers (2008)
Working Paper: Redeveloping Derelict and Underused Historic City Areas: Evidence from a Survey of Real Estate Developers (2008)
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DOI: 10.1080/09640560903529550

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