Städtebauliche Grossprojekte der Urbanen Renaissance

Abstract

Abstract This paper discusses large-scale urban (re-)development projects in the area of conflict between public regulation and market-driven mechanisms. No doubt, the implementation of megaprojects is a complex process, depending on the contributions of a large number of actors, parties and institutions with different aims and legitimations. In order to achieve the urban planning qualities, the profits and the desired mixed-use structures, the actors have to rely on each other's cooperation and therefore have to understand each other's motivations and need for room to maneuver. At the same time, the success is, of course, widely dependant on the property markets, but mainly on the extent to which actors can presume market evolutions and flexibly react to them. Part of the challenge for the public sector is the skilful choice of the appropriate set of methods of regulation. In this regard, this paper intends to outline mechanisms in the property market sectors and discuss typical aims of megaprojects from the real estate economics point of view.