20850 - SUSTAINABLE URBAN REGENERATION
Course taught in English
Go to class group/s: 31
Class 31: EDOARDO CROCI
The course aims to explore sustainable urban regeneration processes considering all dimensions involved (including environmental and socioeconomic) with an integrated and multidisciplinary framework approach. This allows for planning, assessing, and evaluating urban regeneration processes and projects considering the different perspectives of local authorities, real estate and financial operators, investors, and other key stakeholders. Urban regeneration has been known as a way to reorganize and upgrade areas that have experienced a decline or have been left empty by socioeconomic transformations (e.g. former industrial sites). With the acknowledgment of cities’ environmental impacts and the growing issue of land over consumption, urban regeneration has been increasingly considered as an alternative strategy to urbanizing new land and has now been integrated with sustainability principles, to promote a new model of urban development that optimizes the use of resources, circularity, resilience, liveability and urban quality of life.
Sustainable urban regeneration can be defined as “regeneration actions, policies and processes within a city, which address interrelated technical, spatial and socioeconomic problems in order to reduce environmental impact, mitigate risks, and improve quality of urban systems, lifestyles, and assets” (URBACT, 2015). Urban regeneration can trigger and contribute to sustainable urban development, provided that sustainability is deeply and fully integrated into the design, management, financing, monitoring, and operation of urban regeneration projects.
The overall aim is to create value for the private sector, and for society at large.
Students will acquire and apply the latest knowledge of the ESG issues involved in regenerating urban areas. Furthermore, specific case studies of urban regeneration at the global level will be analyzed to individuate policy and business models delivering successful urban regeneration.
The course will provide students with the ability to understand and manage sustainable urban regeneration processes operating for a variety of private and public actors who will be involved also through project works and testimonies. The course is structured into teaching modules:
1. Global urbanization trends and the key role of cities in sustainable development
The aim is to frame the main challenges and opportunities linked to urban development considering worldwide urbanization dynamics. Drivers and challenges of urban sustainability will be analyzed in the context of the Agenda 2030 framework.
2. Planning, regulatory, and economic-financial instruments for sustainable urban regeneration
Approaches for urban regeneration will be investigated taking into consideration all relevant stakeholders and key phases of urban regeneration processes. The use of urban planning, regulatory, and economic-financial instruments will be assessed in relation to different contexts and conditions.
3. Assessing the impacts of urban sustainable regeneration projects: criteria and indicators
Urban regeneration can improve the quality of life in cities generating impacts on economic, environmental, and social domains. Protocols, certification standards, and indicators to evaluate the sustainability of urban regeneration projects will be considered within an ESG approach.
4. New paradigms and models for sustainable urban regeneration
In a sustainable, smart, and inclusive city perspective, several dimensions of urban regeneration have to be considered, such as vulnerability and resilience to climate change, ecosystem services generation, sustainable mobility, circularity, and social equality.
5. Value chain of urban regeneration projects
The role of actors involved in the supply chain will be assessed, also in connection with innovative solutions in construction and management. The relationship between institutional and business actors to mitigate risks, enhance social value, and enact value-captured mechanisms.
6. Asset management and valuation of urban regeneration projects
Land and property appraisal approaches will be analyzed to assess real estate assets and the impact of urban regeneration on them.
- Understand the role of cities in global dynamics, the main social, environmental and economic challenges that cities are facing and the main drivers of sustainable urban development;
- Identify and assess the main elements of sustainable urban regeneration projects, considering their impact on the environment and society;
- Evaluate key phases, actors and mechanisms that operate in urban regeneration projects to create value;
- Understand the functioning and dynamics of real estate markets;
- Appraise the main funding and financial instruments to support urban regeneration projects;
- Get aquainted with the main protocols and standards to certify and account for the sustainability of urban regeneration projects;
- Undestand and apply approaches, mechanisms and tools to involve urban stakeholders in urban regeneration projects and promote co-design;
- Assess the role of sustainability in asset management and evaluation of urban regeneration projects.
- interpret urban dinamics;
- Assess the key elements of sustainable urban regeneration processes;
- Valuate the private and social impacts of urban regeneration projects;
- Define plans and policies for sustainable urban regeneration;
- Define and assess business models for sustainable urban regeneration;
- Apply international protocols and standards for sustainability assessment in urban regeneration;
- Apply approaches and techniques asset valuation.
- Face-to-face lectures
- Guest speaker's talks (in class or in distance)
- Company visits
- Exercises (exercises, database, software etc.)
- Case studies /Incidents (traditional, online)
- Individual assignments
- Group assignments
- Interactive class activities (role playing, business game, simulation, online forum, instant polls)
Guest speaker's talks (in class or in distance)
Designers, developers, and investors involved in iconic world wide urban regeneration projects will give talks on their experience. Representatives from international organization (The World Bank, OECD) and top rated universities (LSE, Harvard) will also provide testimonies
Case studies /Incidents (traditional, online)
Case studies of urban regeneration will be analysed in class to assess the economic, environmental and social dimensions
Group assignments will be provided in class to discuss approaches, methodologies and tools to develop and evaluate urban regeneration projects and processes. A project work will be developed, in cooperation with developers and real estate operators along the whole course to apply relevant knowledge and instruments
Interactive class activities (role playing, business game, simulation, online forum, instant polls)
Interactive activities will support the advancement of the course
|Continuous assessment||Partial exams||General exam|
Final written exam (70%) aim to assess the level of appraisal related to economic, social and environmental evaluation of urban regeneration projects and processes, business and financial models in real estate markets, standards and indicators appliable to urban regeneration. The ability to apply ESG criteria to sustainable urban regeneration will be also assessed.
Group assignment (30%): students will carry on a group project work along the whole course, analysing specific successful urban regeneration projects dialoguing with planners, designers, developers and other relevant stakeholders and analysing economic, social and environmental performances under the supervision of the teacher. Business models for sustainable urban regeneration will be assessed and, specific indicators will be defined and populated in order to assess and evaluate urban regeneration project impacts following an integrated sustainability approach.
Final written exam (100%) aim to assess the level of appraisal related to economic, social and environmental evaluation of urban regeneration projects and processes, business and financial models in real estate markets, standards and indicators appliable to urban regeneration. The ability to apply ESG criteria to sustainable urban regeneration will be also assessed.
Teaching materials will be communciated at the beginning of the course.
Roberts, P. (2017). "The evolution, definition and purpose of urban regneration". Roberts, P., Sykes, H., Granger, R. (ed.) Urban regeneration. Sage. pp. 9-43
Amirtahmasebi, Rana; Orloff, Mariana; Wahba, Sameh; Altman, Andrew. 2016. Regenerating Urban Land : A Practitioner's Guide to Leveraging Private Investment. Urban Development. World Bank, Washington. pp. 88-124 and pp. 285-312
Brueggeman, William B. (2011). Real estate finance and investments / William B. Brueggeman, Jeffrey D. Fisher.—14th ed. New York : McGraw-Hill Education Part 1 pp. 1-41 and Part 2 pp. 508-573
Berry, J., McGreal, S., Deddis, B. (2011). "Urban regeneration: property investment and development". Taylor and Francis. pp. 50-76 and pp. 144-160