Investment performance within urban regeneration locations

Purpose – Property performance indices have invariably focused upon prime markets with a variety of approaches used to measure investment returns. However, there is relatively little knowledge regarding the investment performance of property in regeneration areas. Indeed, there is a perception that such locations carry increased risk and that the returns achieved may not be sufficient to offset the added risk. The main objective of this paper, therefore, is to construct regeneration property performance indicators consistent with the CBRE rent index and average yield monitor.

Design/methodology/approach – Local market experts were asked to estimate rents and yields for hypothetical standardised offerings for a range of regeneration locations throughout the UK, covering the period 1995 to 2002.

Findings – The results show that rental growth was similar in regeneration locations compared to the prime market. However, the analysis highlights a major yield shift for property in regeneration areas in the short to medium term. The downward pressure in yields would suggest that once a regeneration area becomes established and rental growth emerges, investor interest is stimulated resulting in increased competition and a shortening of yields.

Originality/value – The significance of this research is the quantification of property investment performance from regeneration areas that previously has not been available to investment institutions and decision makers. From a policy perspective this analysis is of relevance in confirming the maturing of locations that have received high levels of public sector support and indicating the effectiveness of regeneration policy mechanisms in creating sustainable urban environments capable of meeting private sector investment goals.

Daylight for sustainable regeneration of built heritage sites

Daylight is an essential contextual ingredient of place making. Research in daylighting has recently received major attention for its valuable contribution to the sustainability of the built environment. Previous research has investigated the role of daylighting in energy efficiency, its regional qualities in relation to the façade configuration, and its contribution to the sense of visual comfort. This paper argues that appropriate use of daylighting will ensure not only visual and thermal comfort in an urban setting, but also contributes to the place identity and hence sustainability of urban regeneration projects. The paper identifies the daylight variables that affect the success of the regeneration of heritage sites in Eastern Mediterranean. Daylight variables in public open spaces include a combination of sunlight, skylight and the reflected light from the facades and the ground. The Solar altitude, the geometry of sectional profiles, the reflectance of the opposing facades, the width of the street and the density of the urban built environment are examined to simulate the daylight performance in the selected heritage sites. Located in the historical Darb al-Ahmar district, Aslam Square is selected as part of one of the rehabilitation project in Cairo. This paper examines the photometric and morphological properties of the existing configuration using daylight simulation software. Various spherical projections were developed to represent full 3D visual environment. The paper calculates and analyses the direct radiation energy, the sky diffused energy and the reflected energy in the case study.

Jillong 2030 : mistakes, challenges & urban visions

Geelong has long been a second cousin to Melbourne economically and in development. Whilst historically wishing to capture the role as administrative capital of the new colony of Victoria, it missed out due to the entrepreneurism of Melbourne. Despite this, it embraced contemporary industrialism, particularly automotive, and built upon its port and wool export capacities. Politics, intransigence and lack of economic investment compounded the failure to create quality urban fabric and enable innovative planning. The last 50 years have witnessed attempts to re-chart a robust and co-ordinated urban framework and vision, aided by the former Geelong Regional Commission (GRC) and more recently the amalgamated City of Greater Geelong (CGG), resulting in varying successes and several failures. Urban design has repeatedly, and historically, surfaced as the catalyst for creative and successful growth in Geelong, or Jillong at the Wathaurong described the place. This paper considers the planning, urban design and environmental legacy of Geelong. It critiques its successes and failures, drawing out the salient issues and themes that underpin its opportunities and quality place-making adventures, and considers the key challenges it now faces. Importantly, it sets forth the six planning and design challenges it must confront in the next 10 years to create a robust, creative, healthy and environmentally liveable place, of which urban design regeneration surfaces as a core need, or the city will continue along its haphazard pathway without cohesion and purpose.

The idea of creative reuse urbanism — the roles of local creativities in culturally sustainable place-making : Tokyo, Bangkok, Singapore

Gentrification is a part of the process of urban renewal which generates significant, and often negative, social impact on existing neighborhood structures, as it tends to be driven predominantly by simple rules of an economy and imperatives of a globalized, "free" market, insensitive to the subtleties of local culture and values. This idea of creative reuse urbanism questions the necessity of extreme, damaging impacts of gentrification. It argues for an urbanism which is culturally rooted, locally related and deeply contextualized. This chapter shows that such urbanism is not just another utopian concept, but a living reality. Examples from Tokyo, Bangkok and Singapore demonstrate a rich spectrum of possibilities, a kind of pre-gentrification which has the capacity to get involved in creative reuse and recycling of existing stocks and inheritances, thus becoming a positive contributor to sustainable urban regeneration. Presented reused buildings and introduced activities are active ingredients in larger process of place-making in the three cities. Tokyo, Bangkok and Singapore were observed through the lenses of sustainability and cultural difference, with main focus on intersections between the practices of reuse and local creativity.

More yuppy stuff coming soon: gentrification, cultural policy, social inclusion and the arts

Responding to gentrification has become a key planning issue for many urban municipalities. Local governments need to balance the often-competing agendas of urban regeneration, social inclusion and arts access and participation. This paper argues that arts and cultural units within local government bear the impact of such tensions. More importantly, however, local government policies and their implementation represent a third position in the polarised discussion on the cultural impact of gentrification. The example discussed here is the rapidly gentrifying City of Maribyrnong in Melbourne’s western suburbs: a municipality where any potential realisation of the economic benefits of gentrification is balanced against the needs of a significant population of resident professional artists, and the social inclusion needs of socio-economically disadvantaged residents. Maribyrnong’s arts and cultural unit, like those within many municipalities in the developed world, has had to develop cultural policies and plans as tools for negotiating complex relationships and diverse needs of community members by considering the economic, social and cultural benefits of the arts for all residents.

Typography and the branding of culture: a methodological investigation into the way typography is used to brand cultural festivals in Australia

The observance of and participation in festivals and celebratory events is an increasingly significant aspect of the contemporary experience (Picard & Robinson, 2006). With the prestige that comes from holding culturally relevant and socially acceptable festivals that serve the discourses of “city branding” and the “creative industries” in a competitive global context; significant government, community and private funding is allocated to such events. Festivals have become a central figure of not only the political economy of tourism but also of urban regeneration and cultural tourism. Cultural festivals possess the hallmarks of destination branding or place branding and inadvertently share some of the attributes that influence visitors’ decisions to visit such destinations (Blain, Levy, & Ritchie, 2005; Cooper, 2005; Esu & Arrey, 2009; Jayswal, 2008). Branding is a vital part of this festival space and relies on typography to establish the symbolic values and representations of urban freedoms; rich histories, cultured places, playfulness and stimulation that seek to subvert our daily existence while performing the task of engaging local, national, and international visitors and participants. However, professional practices demonstrated in the design, media and arts industries have far outpaced the extent to which this phenomenon has been written about in the academic or public realm. What this paper intends is to interrogate appropriate semiotic approaches in an effort to analysing the discursive practices of typography as it performs in service to branding cultural festivals in Australia. The intention is to establish a methodology suited to the significant role typography performs within this context and to offer a contribution to design research that not only engages with the artefacts of design but with the conceptualization of designed meaning in 21st century visual culture.

Green planning heritage/industrial nature : the park lands or 'regeneration reserves' of Broken Hill

Freestone (1989+) has extensively surveyed town planning visions and model communities for Australia, but one settlement has been forgotten. The significant mining settlement of Broken Hill in far western New South Wales does not figure in his thematic and historical analyses yet its park lands are so integral to its physical cultural legacy and human health that it warrants enhanced standing. In the last 2 years the Commonwealth has been considering the potential nomination of the municipality of Broken Hill for inclusion onto the National Heritage List principally due to its mining, social and economic contributions to Australia’s heritage and identity. A component in their deliberations is the Park Lands, or ‘Regeneration Reserves’, that encompass this urban settlement and its mine leaseholds. Within these Regeneration Reserves, international arid zone ecological restoration theory and practice was pioneered by Albert and Margaret Morris in the 1930s that serves as the method for all mining revegetation practice in Australia today. This paper reviews the theory and evolution of the Broken Hill Regeneration Reserves, having regard to the Adelaide Park Lands and Garden City discourses of the 1920s-30s, arguing that the Broken Hill Regeneration Reserves have a valid and instrumental position in the planning and landscape architectural histories of Australia.

Reinventing D'Jillong : current regeneration initiatives challenging the identity and place of Geelong

Australian regional city regeneration in Australia is increasingly becoming an important topic as they attempt to position themselves mid-way between larger discourses about capital cities and peri-urban landscapes. Historically these cities, like Newcastle, Wollongong and Geelong, have been marginalised in infrastructure and planning support systems, yet subject to erratic Commonwealth and State funded initiatives that have divested major specific-purpose complexes into their cities. Such has been as a consequence of of 'decentralisation' and 'regionalisation' political platforms, but also to address employment and voting needs. As an example, Geelong embraced contemporary industrialism, particularly automotive, and built on its port and wool export capacities. Politics, intransigence and lack of economic investment compounded the failure to create quality urban fabric and enable innovative planning. With this legacy, this regional city finds itself at the cusp of heavy industry disintegration, education and health sectorial growth, population increases aided by regional escapism, and a lethargic city centre. In attempting to redress these trends, Geelong is consciously attempting to re-image itself, regenerate key sections of its urban fabric, but also manage the regional escapism (sea change / tree change) phenomena. This paper critiques the larger context, and then uses three examples - "Vision 2" in the city centre, the Mega Port proposal, Fyansford Green and the Moolap salt marsh - as foils to reflect whether these initiatives are and can assist the facilitation of city structural change, economic renewal and enhanced urban design and place-making outcomes.