Smart Urban Regeneration: Visions, Institutions and Mechanisms

Abstract

The configuration of cities, their integrated management and sensible regulation of property and land markets remain pivotal elements for sustainable futures and resilient communities. Smart urban development recognises the interconnection between urban, social, ecological and economic spheres but also requires a robust governance framework, innovation and institutional learning. Unregulated property-led development, on the other hand, can result in sprawl, unstable markets, poor health and depleted ecologies or cultural landscapes. However, preservation, conservation or transformation efforts confront philosophical contention, complexity and institutional and funding constraints. Argument turns on intervention scope or the appropriate balance between public and private realms and the mechanisms to spark, catalyse, incentivise, control and deliver appropriate projects. Future urban visions pit planning utopias against legal precedent, competitive capital markets and practical aspirations of community self-determination. Institutionally, populist impulses, corruption, managerialist bureaucracy or austerity can infect or suppress inspired planning and long-term housing or infrastructure investment. Smart urban development involves multi-disciplinary collaboration and widespread consultation. Big data and high-tech decision support systems (‘DSS’) can be part of the solution but not without administrative competency, civic professionalism and policy learning. Strategic plans should balance logistic infrastructure imperatives with ecological and local considerations. To internalise externalities and balance function with form, developments should consider aesthetics and reflect place character and local views. Urban transformation aspirations include cohesion, green corridors, energy efficient buildings, precinct connectivity, affordable and reasonably stable house prices, resilient utility networks and seamless public transport ones.