Book

Renewing Cities with Value Capture Planning: Model for Achieving Equitable Housing, Public and Open Spaces, and Sustainable Transport

Authors:

Abstract

The book offers a model for city development and renewal based on land value capture (called ‘value capture’). Firstly, a review is presented of cities around the world that are currently using value capture. From these city examples the author shows how any state, city or regional government can adopt value capture policies. Looking at recent events the author reviews the implications of the coronavirus pandemic (2020) for future planning (including value capture) of cities and regions (particularly noting healthy cities planning). The development of a value capture planning (VCP) model is then outlined. The basis of the model is reflected in its planning components, being: Housing (affordable, social and market housing); Public and Open Spaces (natural areas, open spaces and public spaces); and, Sustainable Transport (rail, bus, and active transport). The VCP model is devised to provide an economic and planning tool that can be utilised in addressing each of these planning components. This tool includes data entry tables and explanations of how these tables are applied. Four case study cities (within Australia) currently undergoing renewal are selected for the model to be applied to. The areas were chosen to represent contrasting urban settings and types of development and renewal, including: inner city, middle ring city; growth centre city; and, regional capital city. The current (2020) active renewal programs within these areas include (city in brackets): Central to Eveleigh Renewal Area (CERA) (City of Sydney); Sydenham to Bankstown Urban Renewal Corridor (SBURC) (Canterbury Bankstown City); Gosford City Centre Revitalisation (GCCR) area (Gosford City); and, Newcastle City Renewal Area (NCRA) (Newcastle City). The reader is walked through (graphically) the backgrounds of these case study cities, including geography, development trends and details of renewal plans. Conclusions on the VCP model application are outlined for each study area (within that chapter) and for the cumulative results across all study areas (final chapter). With these conclusions, the application of the model to any city or region anywhere in the world is outlined. Finally, on a practical level the reader would be interested in how value capture is administered through programs (including the roles of government, developers and the community). Summing up, the book offers the reader an understanding of current city planning and the tools (like value capture) that will be required for future planning.
... Public land value capture refers to the capture of part or all of the value increase occurring in land as a result of the efforts of public bodies rather than from those of private landowners, to the public sector for the purpose of financing public activities [1][2][3][4][5][6]. Public land value capture has recently become a subject that has recieved increasing attention [7][8][9][10][11][12]. A reason for this is that real estate is an attractive target for tax authorities [7][8][9][10][11][12][13]. Another reason is that value capture creates a significant resource for local governments to provide public services [6][7][8]10,11,14]. ...
... Public land value capture has recently become a subject that has recieved increasing attention [7][8][9][10][11][12]. A reason for this is that real estate is an attractive target for tax authorities [7][8][9][10][11][12][13]. Another reason is that value capture creates a significant resource for local governments to provide public services [6][7][8]10,11,14]. ...
Article
Local governments have an increasing tendency to capture the value increase occurring as a result of partial interventions into local plans. The basic acceptance behind this is that value definitely will increase as a result of partial interventions. However, all partial interventions always cannot lead to an increase in value. There can be also partial interventions in which the value does not change or even decreases. The aim of this study is to identify the value capture capacity of local plan changes as partial interventions, and to discuss this capacity in terms of the balance between betterment and compensation. Istanbul, which is one of the cities where the effects of neo-liberal policies are most intense and where local plan changes are common, was chosen as the study area. In the first stage of the study, the spatial distributions of 17,369 plan changes approved by the Istanbul Metropolitan Municipality Council between 2009–2018 were examined. In the second stage, the value capture capacities of the plan changes grouped by subject, were determined by interviewing 46 people working in different areas of the planning discipline. The findings of the study demonstrate that although the plan changes are spread throughout the metropolitan area, they are concentrated in the central and secondary central districts where the accessibility value is high. The interviewees emphasized that the plan changes made as a result of private-sector demand and the plan change for the improvement of the infrastructure increase the value of the land and that the plan changes within this scope have value capture capacities. On the other hand, according to the findings of the study, some plan changes reduce the value of the land because of restricting the property rights on the land. Plan changes in this group are needed to be compensated fairly and equitably. Thus, the balance between betterment and compensation would be achieved.
Left to right: water feature; grass lands; and, further details of the children's aqua feature. (Sources: Gosford City Centre Revitalisation Fact Sheet
Plate 5.8 Transformation of Waterfront. Left to right: water feature; grass lands; and, further details of the children's aqua feature. (Sources: Gosford City Centre Revitalisation Fact Sheet 2019 (Dept., Plan.), NSW Govt. Arch. Plans, and Central Coast Council 2020)
Metropolitan strategic planning case studies report for greater Newcastle NSW
  • G Clark
Clark G (2017) Metropolitan strategic planning case studies report for greater Newcastle NSW. NSW Government, Sydney
Greater Newcastle metropolitan strategy -economic prospects to 2036
  • M Demonski
Demonski M (2017) Greater Newcastle metropolitan strategy -economic prospects to 2036. NSW Government, Sydney