Welcome to the Investors Trading Academy talking glossary of financial terms and events.
Our word of the day is “Urban Regeneration”
A strategy of urban transformation for target areas to be upgraded in housing, public and private buildings, services, infrastructure and mobility systems, open and green areas as well as whole urban landscapes and skylines.
It involves the commitment of a large number of stakeholders at different levels -local, sub-national, national and sometimes international -with the collective goals of re-launching the city and regional economy with new jobs, skills, entrepreneurship opportunities, while generating specific advantages for participating subjects. The population, both directly and indirectly affected, is involved, in different proportions and timing.
Target areas tend to be degraded inner city zones, abandoned industrial premises, waterfronts, surroundings of transport infrastructures - all instances of a large gap in the between actual and potential value of space.
As a process, it's a joint effort of city planners, urban designers and specialists, architects, engineers, economists, civil servants, politicians and entrepreneurs to provide opportunities for more qualified private and public spaces, sometimes as a lasting legacy of large - scale events in sports and artists' works and performances.
Regenerations widely differ in the width and depths of community involvement in planning, designing, executing, experiencing and appropriation of the new functions and objects, in their identities, morphologies and typologies.
By Barry Norman, Investors Trading Academy - ITA
5 сен 2024
