[go: up one dir, main page]

IDEAS home Printed from https://ideas.repec.org/a/sae/envira/v33y2001i3p453-477.html
   My bibliography  Save this article

Ownership Constraints to Brownfield Redevelopment

Author

Listed:
  • David Adams
  • Alan Disberry
  • Norman Hutchison
  • Thomas Munjoma
Abstract
The authors examine the nature and significance of ownership constraints within the urban redevelopment process. They suggest that such constraints derive from the distinctiveness of land as a commodity, the imperfect nature of the land market, the behavioural characteristics of landowners, and the institutional context for land ownership, exchange, and development. From this, they propose a common definition of ownership constraints as a basis for their practical classification. This divides ownership constraints between those that concern deficiencies in, or limitations to, the extent of ownership rights in potential development land and those that relate specifically to the strategies, interests, and actions of those who hold such rights. The various types of ownership constraints that fall under these headings are then explored, with research presented into the extent to which they each disrupted plans to use, market, develop, or purchase eighty large redevelopment sites in four British cities between 1991 and 1995.

Suggested Citation

  • David Adams & Alan Disberry & Norman Hutchison & Thomas Munjoma, 2001. "Ownership Constraints to Brownfield Redevelopment," Environment and Planning A, , vol. 33(3), pages 453-477, March.
  • Handle: RePEc:sae:envira:v:33:y:2001:i:3:p:453-477
    DOI: 10.1068/a33200
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1068/a33200
    Download Restriction: no

    File URL: https://libkey.io/10.1068/a33200?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Grenadier, Steven R, 1996. "The Strategic Exercise of Options: Development Cascades and Overbuilding in Real Estate Markets," Journal of Finance, American Finance Association, vol. 51(5), pages 1653-1679, December.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Joaquin Ameller & Jean-Daniel Rinaudo & Corinne Merly, 2020. "The contribution of economic science to brownfield redevelopment: a review," Post-Print hal-02532209, HAL.
    2. David Adams & Christopher De Sousa & Steven Tiesdell, 2010. "Brownfield Development: A Comparison of North American and British Approaches," Urban Studies, Urban Studies Journal Limited, vol. 47(1), pages 75-104, January.
    3. Elvia María Jiménez Zapata, 2016. "Participación en la Plusvalía: Instrumento Financiero Ligado al Desarrollo Urbanístico," Revista de Economía y Administración, Universidad Autónoma de Occidente, December.
    4. Alberto Longo & Danny Campbell, 2017. "The Determinants of Brownfields Redevelopment in England," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 67(2), pages 261-283, June.
    5. Alexander Woestenburg & Erwin van der Krabben & Tejo Spit, 2019. "Legitimacy Dilemmas in Direct Government Intervention: The Case of Public Land Development, an Example from the Netherlands," Land, MDPI, vol. 8(7), pages 1-19, July.
    6. Jean-David Gerber & Stéphane Nahrath & Patrick Csikos & Peter Knoepfel, 2011. "The Role of Swiss Civic Corporations in Land-Use Planning," Environment and Planning A, , vol. 43(1), pages 185-204, January.
    7. Jean-David Gerber & Stéphane Nahrath & Thomas Hartmann, 2017. "The strategic use of time-limited property rights in land-use planning: Evidence from Switzerland," Environment and Planning A, , vol. 49(7), pages 1684-1703, July.
    8. Yani Lai & Ke Chen & Jinming Zhang & Feihu Liu, 2020. "Transformation of Industrial Land in Urban Renewal in Shenzhen, China," Land, MDPI, vol. 9(10), pages 1-22, October.
    9. Antoine Paccoud & Markus Hesse & Tom Becker & Magdalena Górczyńska, 2022. "Land and the housing affordability crisis: landowner and developer strategies in Luxembourg’s facilitative planning context," Housing Studies, Taylor & Francis Journals, vol. 37(10), pages 1782-1799, October.
    10. Gallagher, Rachel & Liu, Yan & Sigler, Thomas, 2019. "Parcel amalgamation as a mechanism for achieving urban consolidation through densification: The fixity of property boundaries over time," Land Use Policy, Elsevier, vol. 89(C).
    11. Bob van Bronkhorst & Brano Glumac & Tristan Kunen & Michel van Rhee & Wim Schaefer, 2014. "The Dutch Land Market: A Regional Tool for Policy Impact on Vacancy and Grant Rates," ERES eres2014_75, European Real Estate Society (ERES).
    12. Puustinen, Tuulia & Pennanen, Kyösti & Falkenbach, Heidi & Viitanen, Kauko, 2018. "The distribution of perceived advantages and disadvantages of infill development among owners of a commonhold and its’ implications," Land Use Policy, Elsevier, vol. 75(C), pages 303-313.
    13. Lai, Yani & Tang, Bosin & Chen, Xiangsheng & Zheng, Xian, 2021. "Spatial determinants of land redevelopment in the urban renewal processes in Shenzhen, China," Land Use Policy, Elsevier, vol. 103(C).
    14. Nyuying Wang & Oleg Golubchikov & Wei Chen & Zhigao Liu, 2020. "The Hybrid Spatialities of Post-Industrial Beijing: Communism, Neoliberalism, and Brownfield Redevelopment," Sustainability, MDPI, vol. 12(12), pages 1-19, June.
    15. Jean-David Gerber & Adena R Rissman, 2012. "Land-Conservation Strategies: The Dynamic Relationship between Acquisition and Land-Use Planning," Environment and Planning A, , vol. 44(8), pages 1836-1855, August.
    16. Jana Nekolová & Jiøí Novosák, 2014. "Location of economic activities in the Ostrava metropolitan area (Czech Republic): focused on brownfield redevelopment," ERSA conference papers ersa14p919, European Regional Science Association.
    17. Cheung, K.S. & Wong, S.K. & Wu, H. & Yiu, C.Y., 2021. "The land governance cost on co-ownership: A study of the cross-lease in New Zealand," Land Use Policy, Elsevier, vol. 108(C).
    18. Terry van Dijk & Arno van der Vlist, 2015. "On the interaction between landownership and regional designs for land development," Urban Studies, Urban Studies Journal Limited, vol. 52(10), pages 1899-1914, August.
    19. Valtonen, Eero & Falkenbach, Heidi & Viitanen, Kauko, 2018. "Securing public objectives in large-scale urban development: Comparison of public and private land development," Land Use Policy, Elsevier, vol. 78(C), pages 481-492.
    20. B Glumac & Q Han & W Schaefer, 2018. "A negotiation decision model for public–private partnerships in brownfield redevelopment," Environment and Planning B, , vol. 45(1), pages 145-160, January.
    21. Puustinen, Tuulia & Krigsholm, Pauliina & Falkenbach, Heidi, 2022. "Land policy conflict profiles for different densification types: A literature-based approach," Land Use Policy, Elsevier, vol. 123(C).
    22. Phipps, Alan G., 2008. "Reuses of closed schools in Windsor, Ontario," Socio-Economic Planning Sciences, Elsevier, vol. 42(1), pages 18-30, March.
    23. Ahmad, Naveed & Zhu, Yuming & Hongli, Lin & Karamat, Jawad & Waqas, Muhammad & Taskheer Mumtaz, Syed Muhammad, 2020. "Mapping the obstacles to brownfield redevelopment adoption in developing economies: Pakistani Perspective," Land Use Policy, Elsevier, vol. 91(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Miao, Jianjun & Wang, Neng, 2007. "Investment, consumption, and hedging under incomplete markets," Journal of Financial Economics, Elsevier, vol. 86(3), pages 608-642, December.
    2. Andreas Panagopoulos, 2004. "When Does Patent Protection Stimulate Innovation?," Bristol Economics Discussion Papers 04/565, School of Economics, University of Bristol, UK.
    3. Kong, Jean J. & Kwok, Yue Kuen, 2007. "Real options in strategic investment games between two asymmetric firms," European Journal of Operational Research, Elsevier, vol. 181(2), pages 967-985, September.
    4. Michi Nishihara & Takashi Shibata, 2011. "The effects of costly exploration on optimal investment timing," Review of Financial Economics, John Wiley & Sons, vol. 20(3), pages 105-112, August.
    5. Pablo Moran, 2017. "Information Revelation in Merger Waves," The Review of Corporate Finance Studies, Society for Financial Studies, vol. 6(2), pages 174-233.
    6. John Clapp & Piet Eichholtz & Thies Lindenthal, 2012. "Real Option Value over a Housing Market Cycle: West Berlin," ERSA conference papers ersa12p264, European Regional Science Association.
    7. Grzegorz Pawlina & Peter M. Kort, 2006. "Real Options in an Asymmetric Duopoly: Who Benefits from Your Competitive Disadvantage?," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 15(1), pages 1-35, March.
    8. Lim, Terence & Lo, Andrew W. & Merton, Robert C. & Scholes, Myron S., 2006. "The Derivatives Sourcebook," Foundations and Trends(R) in Finance, now publishers, vol. 1(5–6), pages 365-572, April.
    9. Jean-Paul Décamps & Thomas Mariotti & Stéphane Villeneuve, 2006. "Irreversible investment in alternative projects," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 28(2), pages 425-448, June.
    10. Carol Alexander & Xi Chen, 2021. "Model risk in real option valuation," Annals of Operations Research, Springer, vol. 299(1), pages 1025-1056, April.
    11. Said Boukendour & Rahim Bah, 2001. "The guaranteed maximum price contract as call option," Construction Management and Economics, Taylor & Francis Journals, vol. 19(6), pages 563-567.
    12. Femminis, Gianluca & Martini, Gianmaria, 2011. "Irreversible investment and R&D spillovers in a dynamic duopoly," Journal of Economic Dynamics and Control, Elsevier, vol. 35(7), pages 1061-1090, July.
    13. Pawlina, G. & Kort, P.M., 2001. "Strategic Capital Budgeting : Asset Replacement Under Uncertainty," Discussion Paper 2001-4, Tilburg University, Center for Economic Research.
    14. Lambrecht, Bart & Perraudin, William, 2003. "Real options and preemption under incomplete information," Journal of Economic Dynamics and Control, Elsevier, vol. 27(4), pages 619-643, February.
    15. Ali Naef Mohammad, 2016. "Valuation Tools for Determining the Value of Assets: A Literature Review," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 6(4), pages 63-72, October.
    16. Rose Neng Lai & Lawrence Hoc Nang Fong, 2021. "Development Strategies in a Market of High Vacancies and Sticky Rates – The Case of the Hotel Industry," International Real Estate Review, Global Social Science Institute, vol. 24(3), pages 363-383.
    17. Steg, Jan-Henrik, 2018. "Preemptive investment under uncertainty," Games and Economic Behavior, Elsevier, vol. 110(C), pages 90-119.
    18. Zhu, Bing & Xia, Xiaoxue & Zheng, Xiaojia, 2021. "One way out of the share pledging quagmire: Evidence from mergers and acquisitions," Journal of Corporate Finance, Elsevier, vol. 71(C).
    19. Dieci, Roberto & Westerhoff, Frank, 2016. "Heterogeneous expectations, boom-bust housing cycles, and supply conditions: A nonlinear economic dynamics approach," Journal of Economic Dynamics and Control, Elsevier, vol. 71(C), pages 21-44.
    20. Teulings, Coen & Lange, Rutger-Jan, 2021. "The option value of vacant land: Don't build when demand for housing is booming," CEPR Discussion Papers 16023, C.E.P.R. Discussion Papers.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:envira:v:33:y:2001:i:3:p:453-477. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.