Innovating to finance urban regeneration and infrastructure
La Fabrique de la Cité
01/23/2018 - Financial Innovation To Support Metropolitan Projects
How can we fund infrastructure and re-build the city over the city in a time of rarefied public resources? As the urban infrastructure of the previous century now requires critical investments, this complex equation calls for an urgent reply.
Certain under-used operational or real estate assets could, if correctly evaluated, help finance ambitious urban regeneration and infrastructure projects. From this observation, an innovative model has emerged, based on the bundling of under-used assets inside dedicated, municipally-owned and privately-run entities. Bruce Katz and Luise Noring analyze the way in which Lyon, Copenhagen, Hamburg, and Helsinki have adapted and implemented this model.
Isabelle Baraud-Serfaty offers a complementary model, also based upon the activation of hidden value, that capitalizes on several breakthroughs born of the digital revolution: the emergence of the multitude (and individuals’ ability to become producers of data, energy, free space in their vehicle or their home, funding), the industrialization of customization rendered possible by big data, and the shift from ownership to use.