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Financial innovation and sustainable places – international lessons for the Gateway<br />Economic Development Resource Cen...
Need for new financial models in Gateway<br />State-led growth is no longer <br />feasible:<br /><ul><li>Changing economic...
Financial innovation in place making - models<br /><ul><li>The entrepreneurial state
New development institutions
Spatial investment fixes
The entrepreneurial state
Private Investment
New development institutions
Spatial investment fixes</li></ul>BO01, Malmo, Sweden<br />2<br />EDReC<br />
Sustainability: where are the financial incentives?<br /><ul><li>Places, where people want to live, work and create.
Long term financial horizons are essential
Contemporary innovations are about securing medium-term returns</li></ul>HammarsbySjostad, Stockholm, Sweden<br />3<br />E...
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James Kennell, Dr Noha Nasser- Greenwich University

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Transcript of "James Kennell, Dr Noha Nasser- Greenwich University"

  1. 1. Financial innovation and sustainable places – international lessons for the Gateway<br />Economic Development Resource Centre<br />EDReC<br />
  2. 2. Need for new financial models in Gateway<br />State-led growth is no longer <br />feasible:<br /><ul><li>Changing economic and </li></ul>ideological climate<br /><ul><li>Cannot unlock key sites </li></ul>using public sector intervention <br />and promise of capital uplift<br /><ul><li>Short-term development</li></ul>horizonsact as a brake on<br />investment<br />HammarsbySjostad, Stockholm, Sweden<br />1<br />EDReC<br />
  3. 3. Financial innovation in place making - models<br /><ul><li>The entrepreneurial state
  4. 4. New development institutions
  5. 5. Spatial investment fixes
  6. 6. The entrepreneurial state
  7. 7. Private Investment
  8. 8. New development institutions
  9. 9. Spatial investment fixes</li></ul>BO01, Malmo, Sweden<br />2<br />EDReC<br />
  10. 10. Sustainability: where are the financial incentives?<br /><ul><li>Places, where people want to live, work and create.
  11. 11. Long term financial horizons are essential
  12. 12. Contemporary innovations are about securing medium-term returns</li></ul>HammarsbySjostad, Stockholm, Sweden<br />3<br />EDReC<br />
  13. 13. The case for sustainable place-making<br /><ul><li>Link growth with livelihood
  14. 14. Early delivery of social facilities and infrastructure
  15. 15. Compact development
  16. 16. Integrate transport systems
  17. 17. Wider choice of homes close to employment
  18. 18. Climate proofing; water, energy, waste
  19. 19. Quality Charter for Growth</li></ul>Bourdeaux Tram, France<br />4<br />EDReC<br />
  20. 20. Case Studies<br />EDReC<br />
  21. 21. Enterprise Zones in the US<br />Interaction with other local economies crucial to long term sustainability<br />Locational factors key<br />Intangibles influence investment decisions to a greater extent than tax regimes<br />Newark, New Jersey, USA<br />5<br />EDReC<br />
  22. 22. Public-Private Joint Development Company:Vathorst, Amersfoort, NL<br /><ul><li>JVC set up by Local Authority with consortium of landowners and developers
  23. 23. Part of 10-yr VINEX programme
  24. 24. Housing Associations account for 45% of housing development
  25. 25. Land pooled
  26. 26. Borrowing at low rates of interestfor infrastructure repaidout of the proceeds from land sales
  27. 27. Serviced plots
  28. 28. Clear briefs emphasise quality
  29. 29. Deliver 600-700 new homes a year</li></ul>Vathorst, Amersfoort, The Netherlands<br />6<br />EDReC<br />
  30. 30. A new partnership model?<br />EDReC<br />
  31. 31. Public-Private-Community Partnership<br /><ul><li>Public sector: regulatory environment and policy support
  32. 32. Private sector CSR: technology, skills, managerial efficiency and investible funds
  33. 33. Communities: contribute their skills and resources</li></ul>7<br />EDReC<br />
  34. 34. Recommendations<br /><ul><li>The PPCP model has capability of overcoming institutional/financial/sustainability blockages
  35. 35. Contrary to LEP – genuine partnership between public sector, third sector and a more socially-responsible private sector
  36. 36. Where financial innovation has contributed to successful sustainable place-making it has relied on locational factors</li></ul>8<br />EDReC<br />
  37. 37. Thank you!<br />Dr Noha Nasser, Director – URI<br />n.nasser@gre.ac.uk<br />James Kennell, Director, EDReC<br />J.S.Kennell@greenwich.ac.uk<br />EDReC<br />
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