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.
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.
In the dark days of public sector retrenchment and the loss of a progressive role for planning it’s more important than ever that our understanding of place making is not forgotten. 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. - Phil Allmendinger, Professor of Land Economy and Head of the Department of Land Economy, University of Cambridge
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. - Cliff Hague, Innovation Circle Network
"This is a very useful book on the development process and how to enhance its contribution to successful place-making. 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. It is also a fitting memorial to Steve Tiesdell."— Patsy Healey, Newcastle University
Part 1: The Development Context 1. Introduction 2. Successful Places 3. Real Estate Markets 4. Real Estate Values and the State 5. Real Estate Development 6. The Governance of Place Part 2: Market Roles and Actors 7. Real Estate Developers 8. Landowners 9. Funders And Investors Part 3: Policy Instruments 10. Shaping Markets – Making Plans and Reforming Institutions Shaping 11. Shaping Markets by Strategic Transformation 12. Regulating Markets 13. Market Stimulus 14. Capacity-Building 15. Conclusions