The Public Real Estate Development Process

Over the past five years, public sector development of land and property has become routine. While the motivations for such development are varied, they reflect public policy goals aimed at promoting economic development, improving the physical appearance and vitality of urban areas, and raising revenues for public programs. These new initiatives are creating new roles for planners. This article outlines a step-by-step approach for carrying out successful joint, public-private real estate development programs.     

Hong Kong's Gating Machine

Scholars have identified ‘gating machines’ or ‘gating coalitions’ that promote gated communities. Hong Kong's high-rise housing estates in the private sector are extremely gated. Evidence presented in this paper suggests the proposition that public ownership of land, Hong Kong's land leasehold system and the government's fiscal interest in generating maximum revenue from land sales play a pivotal role in explaining gatedness. The big developers prefer and pay premiums for large sites that permit mixed use developments and high site intensity, which by use regulations are required to be gated, while their property management subsidiaries also promote gating because such estates are cheaper and easier to manage. Thus, the extent of gatedness is largely the consequence of Hong Kong's use of land as a resource, its built form, the nature of its real estate and property management industries, and the articulation of these factors.     

Public Real Estate Development in Queensland: Local Government as Developers

Public sector real estate development is common in many parts of the world such as the USA and the Netherlands. However, in Australia, the nature and extent of such development does not appear to be known. This article presents the results of an investigation into the extent and nature of real estate development by Local Governments in Queensland, a state where private sector values are often assumed to prevail. The study provides an overview of what types of real estate Councils have developed and how much they have developed over the last 10 years. Such development is widespread in Queensland with at least one-third of Local Governments having developed land. Councils often develop because of a perceived failure of the private sector to provide development adequately or as an entrepreneurial means of achieving public interest goals. However, there is also evidence that Councils are acting like private developers, acquiring land from the private sector and disposing it at open market values. There is an opportunity to learn from the experience of these Councils if local planning is to enter a more proactive approach to shaping urban outcomes.     

Public Real Estate Development in Queensland: Local Government as Developers

Public sector real estate development is common in many parts of the world such as the USA and the Netherlands. However, in Australia, the nature and extent of such development does not appear to be known. This article presents the results of an investigation into the extent and nature of real estate development by Local Governments in Queensland, a state where private sector values are often assumed to prevail. The study provides an overview of what types of real estate Councils have developed and how much they have developed over the last 10 years. Such development is widespread in Queensland with at least one-third of Local Governments having developed land. Councils often develop because of a perceived failure of the private sector to provide development adequately or as an entrepreneurial means of achieving public interest goals. However, there is also evidence that Councils are acting like private developers, acquiring land from the private sector and disposing it at open market values. There is an opportunity to learn from the experience of these Councils if local planning is to enter a more proactive approach to shaping urban outcomes.     

Place-making and the London estates: land ownership and the built environment

In inner London many real estate companies own and manage ownership clusters ? spatially concentrated property portfolios or landed estates. The literature has framed this feature of the London property market as the renewed interest in the estate model of development. Drawing on empirical research in London, this research examines ownership clusters, exploring their investment and management strategies. Research findings suggest that cluster managers employ a curatorial form of place-making in their relevant neighbourhoods, selecting the mix of uses and users, unit placement, and investing in public space in order to increase footfall, consumer circulation, dwell time and spending to maximize real estate returns.     

What role does the real estate–construction sector play in China’s regional economy?

Urbanization, industrialization and real estate reform have led to a vast growth of the real estate–construction sector in China. Using the 2002 and 2007 provincial input–output tables, this paper examines the importance of the real estate–construction sector in the Chinese economy by applying the hypothetical extraction method. The results show that for the 30 studied provinces, the weighted average impact of the real estate–construction sector accounts for 21 % of total output and for approximately 14 % of all jobs in 2002. For 2007, these figures are 23 and 22 %, respectively. The impact of the real estate–construction sector on total output and employment varies across regions. In 2007, the direct and indirect output and employment of real estate–construction sector accounted for around 15 % of total regional output and employment in Shandong and Henan, and for 40 % in Tianjin, Jilin, Shaanxi, Ningxia and Xinjiang. Our results also indicate that the real estate–construction sector is strongly own final demand oriented and regional economies which highly rely on it are particularly vulnerable to a fall in its demand.     

Integrating Real Estate into China's Planning Education: Paradox and Prospect

The booming real estate sector in China demands for more planners with real estate knowledge and skills, but real estate training has been marginalized in the existing physical-dominated planning education system. After reviewing the related international experiences, this paper examines the necessities and benef its of integrating real estate into China's planning education. It also explains the paradox embedded in the existing planning education system and considers how to restructure the planning education paradigm, so that it will provide better real estate training. The objectives here are to strengthen the curriculum, diversify students' and faculty backgrounds, seek effective ways to interact with the real estate industry, and differentiate the planning programs. The integration of real estate into planning education can cultivate more interdisciplinary professionals and should be a concern for more planning educators.     

浅析房地产档案管理

随着我国社会主义现代化建设的发展,城市建设日新月异,这就给房地产的发展提供了更大的契机,同时也极大的推动了房地产档案管理事业的发展,众所周知,房地产档案管理在维护房产市场运营中发挥着不可替代的作用,但随着社会的发展,档案资料量的增加等诸多问题为我们的管理人员及经办人员增加了很多繁重的工作负担,在客观上影响了市场运转的效率,这就要求尽快的推广与之相适应的技术措施,以提高运转效率。那么如何采取相应的措施是摆在我们面前的重要课题,而最大力度的加大档案管理的力度是解决这一问题的关键。     

PPP 模式在成都市保障性住房中的应用

为了从根本上解决成都市中低收入居民的居住问题,成都市政府近年来采取了多种措施试图对商品房地产市场进行有效调控,缓解政府部门公益性建设项目的融资压力,实现居者有其屋的目的。PPP（Public-Private-Partnership）模式是近年来广泛应用于基础设施建设融资领域的一种新型融资模式,本文对政府部门和私营企业双方在成都市保障性住房建设中应用PPP 模式的可行性及政府部门与私营企业合作融资建设的可行方式进行了分析,提出了应用中可能存在的问题并给出了相应建议,结果认为将PPP 模式应用于保障性住房融资可以达到公与私“双赢”,且有助于完善保障性住房制度。     

Implementation constraints in social enterprise and community Public Private Partnerships

Public Private Partnership (PPP) employs private sector expertise and skill to provide public goods and services. We examine three community PPP projects to identify critical success factors of the project outcomes. Two conclusions particularly stand out: first, the project must be aligned with both the public and private parties' business and service plans, and second, appropriate management structures and procedures must be established for obtaining this alignment. The latter effect recognizes the need to implement appropriate project governance practices including management discipline and expertise. We investigate these ideas further and present specific guidelines for PPP project design and implementation.     

Lessons from Private Sector Brownfield Redevelopers

Municipal brown field redevelopment efforts have tended to assume that the sites involved were economically non-competitive. They have thus focused on public acquisition of contaminated property and direct incentives to specific on-site activities. The emergence of a growing number of entrepreneurial firms that redevelop brownfields-often with minimal public involvement-suggests limits to the efficacy of this approach for large and very “dirty” sites that continue to stand abandoned to the frustration of local planners and economic developers. New approaches to public support for such regeneration may be suggested by closer examination of the private brownfield entrepreneurs. This article reports the results of a survey of these developers, suggesting that planners can contribute to more efficient use of public economic development resources by recognizing when public intervention really contributes to, and when it may inadvertently detract from, the attractiveness of sites a community wants to see regenerated.     

《物权法》与城市白线制度——城市滨水空间公共权益的保护

<物权法>为公民的不动产保护提供了法律依据,这使得独享城市滨水空间这一稀缺性资源的开发商、私人社区与个人将合法地拥有本来属于非排他性的不动产物权.为更好地保护城市日益稀缺的滨水空间资源,应在城市的滨水区域划出公共的滨水区,通过建立"城市白线"的规划管理制度,确保城市滨水空间的公共属性,体现优质城市空间资源共享的社会公平性,形成以城市白线管理制度为核心的滨水空间公共权益的保护机制.     

Promoting sustainability in the United States multifamily property management industry

Efforts to promote environmental sustainability in the real estate industry continue to proliferate throughout the United States in response to both economic and social forces. This trend has received a considerable amount of attention in the academic literature, yet relatively little is known about the importance of sustainability to third-party property management firms operating in the multifamily sector of the housing market. For those interested in promoting sustainability, an important question that arises is whether barriers to environmentally-friendly business practices commonly observed throughout the housing industry extend to the market for third-party property management services. A second question of equal relevance focuses on determining what sustainability initiatives third-party property management firms are actually using in their efforts to procure new clients or retain existing ones. The qualitative analysis presented in this paper is one of the first to the authors’ knowledge to explore third-party property managers’ perceptions about sustainability in an attempt to address the aforementioned issues. The findings of this study support two overarching conclusions. First, sustainability is increasingly being promoted by large, third-party property management firms in the multifamily housing industry. Nonetheless, numerous barriers are perceived to exist that may impinge upon future efforts to reduce the environmental impact of the rental housing stock. Second, some firms appear to be better positioned than others to take advantage of sustainability initiatives as a result of the types of properties they manage and the characteristics of the owners they represent.     

Development Rights: Regulating Vertical Urbanism in Taiwan

ABSTRACT

This article examines the contested interaction between planning and private property by focusing on development rights: an important, yet under-studied, aspect of private ownership. Three regulatory approaches – a road-based rule, a FAR (floor area ratio)-based rule, and a TDR (transfer of development rights) mechanism – have influenced how planning in Taiwan has governed vertical development since the early twentieth century. We link them to three planning ideologies, the city pathological, the city rational, and the city neoliberal. We argue that regulation-ideology dynamics have led to greater power for the real estate sector in appropriating density rent in Taiwan.     

我国房地产企业产融结合效果实证研究

随着国家对民营资本进入金融业的鼓励和金融业准入的放宽,诸多优秀房地产公司相继进入金融领域。为了研究我国房地产企业产融结合的效果,以2001~2013 年房地产企业入股金融机构事件为研究对象,运用特征指标分析和Wilcoxon秩和检验法进行实证检验,发现入股金融机构后的房地产企业偿债能力有所提升,企业的融资速度加快,但盈利能力却显著下降,企业的经营绩效没有得到很好的提升;房地产企业产融结合后,企业没有实现管理协同和财务协同。所以房企在实施产融结合时需要重视如何发挥金融资本和产业资本的协同作用。     

Infrastructure investment, endogenous growth and economic convergence

There has been a recent resurgence of interest in regional growth theory. One strand of this has been the work on endogenous growth processes and the natural potential for regional economic convergence. On the other hand, the appearance of a seminal paper by Aschauer in the late 1980s linking productivity growth to infrastructure provision provided arguments for a rethinking of the role of public policy in stimulating regional development. In particular this latter work offered a case for enhanced public sector activity at a time when mainstream economists favored a greater role for the private sector, a lowering of the tax burden and a liberal stance on regulation. The empirical findings have subsequently been the subject of further analysis and the theories which could potentially underpin them have been reviewed. This paper examines the links between this work on the importance of public capital and that on the role of endogenous growth processes.     

A Review of “Suburban Nation: The Rise of Sprawl and the Decline of the American Dream (10th Anniversary Edition)”

Urban transportation policy is under review by federal, state, and local governments, and by the private sector. The political role of transport investments, techniques by which planners model and evaluate transportation programs, funding mechanisms for public and private transportation, and relationships between accessibility and urban form are being reconsidered more seriously today than at any time since the emergence of the automobile as the major mode of movement. While it is impossible to probe all of these questions deeply in a single journal issue, the six articles which comprise this symposium capture rather well the spirit of criticism, questioning, and change which today pervades the American community of transportation planners.     

Collaborative development: Capturing the public value in private real estate development projects in Ho Chi Minh City,Vietnam

This article addresses a relative gap in the literature on real estate development and property rights in transitional economies, particularly on the “shadow” role of private developers in urban management at the local level. The paper argues that the development of high-rise buildings in Vietnam resulted from the national privatization policy shift known as Doi Moi that gave landowners greater rights. These changes in land rights policy are important constitutive elements for institutional functionality of value capture via privatization of land, to become viable and effective. Further, the paper describes how private developers (foreign and domestic) take advantage of vague and indistinct city governance regarding privatization of land, while the property rights of the original users of the land are insufficiently protected. These issues are illuminated and analyzed through the use of three case studies of commercial projects in Ho Chi Minh City. We suggest a further institutionalization of privatization of land and value capture in Vietnam.     

优化房地产档案管理的策略分析

房地产档案是房屋建设的重要组成部分,是进行城市拆迁规划、房屋交易、处理房地产纠纷、房地产产权权属登记等的重要依据,近几年房地产发展迅猛,随之而来档案管理问题也越来越突出。本文主要阐述目前房地产档案管理现状,分析了存在的问题,并从实践中提出了优化房地产档案管理的策略,以及对提升房地产档案管理水平提供理论支持。