GENERATING HIGHER PRICES FROM URBAN REGENERATION

PrintFast gaining popularity in Asia, urban regeneration is transforming urban landscapes and raising the values of property across the region.

Words by Mira Soyza

Photography by Jan Yong & Urban Land Institute

The sound of mirthful laughter and pitter-patter of children’s footsteps running along the 4 km-long boulevard, fill the west bank of Shanghai’s Huangpu River. From the break of dawn till the sneak of dusk, tourists and local dwellers flood the waterfront, rolling out mats to set the picnic baskets on as they marvel at the brilliant landscaping and reconnect on the grand steps and pavilions of the Bund.

PrintThe historical building was once the financial centre of Asia, a symbol of Shanghai’s economic strength—but then the decision in 1990s to build a 10-lane highway had isolated the waterfront promenade from the city and essentially turned it into a ghost town. To solve this, six of the lanes were diverted through an underground tunnel, while the vacated space were used to widen the promenade to create a vital infrastructure that doubled up as a pedestrian-friendly recreational space. As a result, the waterfront was reintegrated with the rest of Shanghai and can once again revel in its long lost glorious years.

Much like Shanghai, many major cities in the world have successfully tackled their urbanization problems by way of regeneration. By definition, it essentially means revitalising an existing urban area in order to bring about a lasting improvement in its physical, functional, economic, social, and environmental conditions. It helps a city live up to its full potential and improves living conditions for its residents.

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APR7_24-252Since the early 1990s, people all over the world have been rediscovering the underutilized value in their cities. Some of these cities were constructed at a time when most people walked or took streetcars to get to places, says Stephen Luoni, Director of the University of Arkansas Community Design Center and Steven L.

Anderson, Chair in Architecture and Urban Studies: “Historically, cities were built to reward walking through the provision of great and active streetscapes, well-populated public spaces and architecture that celebrated human scale and craft.”

Luoni adds. “It’s a quality of life which fell out of favour when the population exclusively became full-time motorists. Rapidly rising energy costs and increasing road congestion have shifted societal preference from sprawl to proximity, which leads to urban neighbourhood’s support of mixed land use to eliminate the need to travel far to meet everyday essential needs.”

Whenever there is a demand for affordable housing within proximity of the city centre, the automatic response is to expand outward with the intention of reducing traffic congestion and the city’s density. By theory, it seems like a viable solution— after all developments at the outskirts of the city come with a lower price tag. But the catch is, living farther away from the centre increases commuting need, and with the rising energy cost and worsening congestion, it’s easy to see where this plan falls short.

PrintIn the US, 80% of college graduates are moving to cities, selecting locations based on their quality of life rather than a specific employment opportunity. The renewed interest in cities is spawning urban regeneration investment, Luoni points out.

Every city and urban area is unique—there is no one-size-fits-all formula to solving issues associated with urban living. However, there are a few key drivers that can influence a city’s transformation approach such as improving competitiveness in tourism; increasing the overall revenues of its businesses and productivity; creating job opportunities; attracting investment interest; enhancing housing affordability; and capitalising on existing infrastructure.

Luoni continues: “Preservation of irreplaceable historic capital goes hand-in-hand with urban regeneration as the relationship between well-crafted architecture and great urbanism is indispensable. Both types of urbanism are necessary, as cultural heritage emphasizes on the often elusive symbolic value of a place, while the regeneration of declining area improves the everyday quality of life for all.”

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The Asian experience

In Asian countries, urban regeneration tends to give heavy emphasis on the preservation of culture and heritage. In the past, in a haste to keep up with the speed of modernisation, historical sites and buildings were often neglected. Historic buildings were torn down or faced threats of demolition in favour of constructing new roads, high-rise buildings, shopping malls, and mega-projects. Shiny new constructions are perceived as better investments, which in turn led to the government adopting a ‘demolish and rebuild’ policy. Singapore, for example, although highly regarded for its city planning, had also come under fire for its decision to wipe out its historic urban core in exchange for a concrete jungle.

But somewhere along the line, Asian cities began acknowledging the importance of preserving their cultural heritage. They realised it could boost their tourism industry; create employment opportunities and give repressed neighbourhoods a new lease of life.

So, they stopped knocking down old buildings—and instead, put all of their energy into rebranding the cities by re-associating them with traditional food, performing arts, visual arts, film, music, craft and history. They also hosted cultural events and festivals as well as transformed derelict industrial/ declined heritage areas into cultural/entertainment districts.

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