Abstract
This paper analyzes such concepts as ‘integrated property development’ and ‘sustainable development’ and how they apply to urban territories. The authors hereof analyze the basic components of integrated and sustainable territorial development, which includes master planning, renewal of developed areas, and integrated territorial development. The paper structures the problematic urban areas and notes that each type of inefficiently utilized urban areas requires a specific transformation mechanism. It proves that applying integrated and sustainable development tools helps attract more investment, transform the fabric of the city, and improve the urban environment.
Highlights
Rapid urban development is a global trend today
Materials and Methods Integrated and sustainable territorial development (ISTD) means the efficiency-oriented approach to drafting and approval of planning documentation on the placement of residential, industrial, public, business, and other properties that specifies the layout of public utilities, transport and social infrastructures such properties will need to function properly; the documentation should dwell upon the architectural design, construction, and reconstruction of such properties and infrastructures [5]
In case of Integrated territorial development (ITD), the local self-government (LSG) initiates renovation to be performed by a contractor that selected by open bidding and is not the owner of the property; LSG efforts basically result in seizure of real property located within the renovated area from its owners
Summary
Rapid urban development is a global trend today. It consumes ever more financial resources and has to meet ever stricter requirements. Focus is made on how efficiently urban areas are utilized, transformed, and developed. The subject matter of this research is the urgent problem of sustainable urban development. Sustainable growth of any city requires optimal use of its resources and territories. This is not possible without using the integrated and sustainable territorial development (ISTD) toolkit, which comprises two basic components: integrated property development and sustainable urban development
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