INTEGRATING INTERESTS IN REDEVELOPMENT PROCESSES: THE CASE OF DEN HAAG ZUIDWEST
||Traudes, Jeroen Pieter
||INTEGRATING INTERESTS IN REDEVELOPMENT PROCESSES: THE CASE OF DEN HAAG ZUIDWEST
||Book of Abstracts: 13th Annual European Real Estate Society Conference in Weimar, Germany
||This paper focuses on the organization of urban redevelopment processes. Central issue in the paper is the way institutions influence the possibilities stakeholders have to defend their own interests in a way that they also take care of the interests of other stakeholders. The model will be used to describe the case of Den Haag Zuidwest; a neighborhood that was build in the 1950s in the southwest of the city of The Hague. This neighborhood is undergoing a large restructuring process at the moment. Urban redevelopment processes are a hot issue in the Netherlands. Society and the role of the government are changing. The government can not control the entire process anymore, the process has become too complicated, the financial efforts have become to large and besides, the government does not want to control the entire process anymore. This change has created a new situation for all parties involved and has raised many questions about interests, efforts and the way the process should be organized. This paper is part of a research project that wants to make a contribution to this discussion by focusing on the organization of an optimal arrangement for urban redevelopment processes, in which the interests of all parties involved are satisfied as optimal as possible. The theoretical background is found in the literature on transaction economics, governance and institutional theory. These theoretical elements are the building stones for the model that is used for describing the arrangement for urban redevelopment. In the arrangement, several goals must be satisfied. First of all, the (local) government has to focus on the public interest. This interest is looked after by the restruction of the urban environment. The goal is to improve the quality of the urban environment, but also the social environment. Improving quality is the central issue of each urban redevelopment process. For a high quality redevelopment cooperation of the private sector and the civil society is necessary. Each party will only cooperate if their particular interest is satisfied. The particular interest of the private sector, such as development companies and institutional investors is financial and the particular interest of the civil society is socially orientated. Nevertheless, the urban redevelopment process can only succeed if all the parties are willing not only to satisfy their own interests, but also to look after the common interest: the realization of quality. To realize this ambition, the local government has to steer the redevelopment process. The model gives a way to do so. The case will show us how this subject is dealt with in practice and will give us some indications to improve the model.
||real estate development; stakeholder interests; development process; governance
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