Real estate and investment A distinctive feature of this book is that it brings together, through the different backgrounds of its authors, a passion for urban design and a sophisticated understanding of how real estate markets operate. It also stresses that market forces are not abstract, but rather agencies for human action rooted in rules and conventions. Some of these are sectoral - for houses, shops or offices, for example. Others are geographical — for different regions or cities. It is also important to understand the differences between users, investors and developers, all of whom have different aims and priorities.
Value does not just depend on location: When acquiring a property such as a house, people also get the place that goes with it — the schools, open space, traffic noise etc.
But at the same time the kind of houses in an area influence the kind of place it is. Indeed they are notably more crisis-prone that the economy as a whole. Adams and Tiesdell recognise this and point out how the fluctuations of the market influence power relations. In booms, sites and labour can be hard to find, though investors are likely to be available to back the project. When the downturn comes you can get land and building workers, but the capital to finance a project dries up.
Remember once again there is a geographical dimension to these booms and busts.
Shaping Places: Urban Planning, Design and Development
Even in a general economic recession not everywhere is at the same stage of the cycle. Places where the local economy is weak tend to enter a boom later and experience the downturn sooner. From the public sector point of view, the need is to have developers lined up ready at the start of an upturn, with land, designs and permissions already in place. Governance The risks and complexity of development processes mean that markets alone cannot be relied upon.
In addition the shared nature of places means that there is necessarily a governance dimension to place-making and place management. Thus governance is another important theme of the book. Leadership is needed but has to be backed by capacity for effective delivery. The book sees government actions as neither inherently good or bad: Governments play many roles in the development process.
Shaping Places - Innovation Circle
They may be landowners, or occupiers of property. They sometimes operate as a development agency, and also provide essential infrastructure. Shaping Places explains how towns and cities can turn real estate development to their advantage to create the kind of places where people want to live, work, relax and invest. It contends that the production of quality places which enhance economic prosperity, social cohesion and environmental sustainability require a transformation of market outcomes.
The core of the book explores why this is essential, and how it can be delivered, by linking a clear vision for the future with the necessary means to achieve it. Crucially, the book argues that public authorities should seek to shape, regulate and stimulate real estate development so that developers, landowners and funders see real benefit in creating better places.
Key to this is seeing planners as market actors, whose potential to shape the built environment depends on their capacity to understand and transform the embedded attitudes and practices of other market actors. This requires planners to be skilled in understanding the political economy of real estate development and successful in changing its outcomes through smart intervention.
Drawing on a strong theoretical framework, the book reveals how the future of places will come to be shaped through constant interaction between State and market power.
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Filled with international examples, essential case studies, color diagrams and photographs, this is essential reading for undergraduate and graduate students taking planning, property, real estate or urban design courses as well as for social science students more widely who wish to know how the shaping of place really occurs. Enter your mobile number or email address below and we'll send you a link to download the free Kindle App.
Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required. To get the free app, enter your mobile phone number. Would you like to tell us about a lower price? If you are a seller for this product, would you like to suggest updates through seller support? David Adams and Steve Tiesdell have spent the last decade exploring successful places.
Shaping Places is the culmination of that work. In what will undoubtedly become a key text Shaping Places assembles a wide range of international research and experiences around the processes of making socially, environmentally and economically successful places. A distinctive feature of this book is that it brings together, through the different backgrounds of its authors, a passion for urban design and a sophisticated understanding of how real estate markets operate.
Its intellectual perspective is clearly stated and contrasted with others, and it is lucidly written and helpful for students coming new to these issues. It should become a key text on real estate and planning programmes, particularly in the UK, and could usefully be read by those interested in urban studies more widely. I have already highlighted its value for UK policy-makers in the planning and development field.
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It is also a fitting memorial to Steve Tiesdell. They worked together for over a decade, first at the University of Aberdeen and then at Glasgow, sharing a mutual interest in state-market relations in land and property, and applying this to research and teaching on planning, public policy, real estate development, urban design and urban regeneration.
Shaping Places represents the culmination of their mutual endeavour and builds on previous joint publications, including their edited book Urban Design in the Real Estate Development Process David and Steve have each researched and published widely in their respective fields. Read more Read less. Credit offered by NewDay Ltd, over 18s only, subject to status. Add all three to Basket.
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