Neighbourhood Sustainability Assessment Tools (NSA tools) are fast becoming the principal framework for urban planners and developers for promoting urban sustainability. The majority of NSA tools promote a specific type of urban development that effectively excludes regeneration projects from the urban sustainability conversation. Given that the world's megacities are mostly built, it is argued that it is essential that strategies for global sustainability consider that urban development is focussed internally to address existing, under-serviced communities in particular need of meaningful intervention and sustainable redevelopment frameworks. The paper uses existing knowledge on NSA tools to highlight the shortcomings of outcomes-based approaches to urban governance and builds the case that the technocratic "one-size-fits-all" approach adopted by many tools inadequately accounts for underlying institutional, social and economic arrangements that influence urban development, making them inappropriate for application in both planned and existing communities. The paper proposes that urban redevelopment strategies need to be derived from the urban realities of a particular place or context. Such strategies must be grounded in principles of urban governance, participatory action and an understanding of market dynamics. Without these collaborative procedural frameworks, urban regeneration projects will continue to inadequately transition towards more comprehensive sustainability.

Purpose-The purpose of this paper is to provide an overview of the economics of providing well-located housing in the inner city of Cape Town. The paper emphasises the need to maintain an appropriate balance between the viability and affordability of the product offered to the market and overcoming the value versus cost challenges. While developers have limited influence over value, they do have influence over cost structures through the development approach that is chosen. Moreover, local authorities influence the viability of projects through standards and regulations. The conclusion drawn from the research has considerable implications for the formulation of market-driven housing policy interventions. Design/methodology/approach-In addition to the review of urban economics theory and the literature on the drivers and costs of inner-city, higher-density residential development, a series of interviews with inner-city residential developers was conducted to access current property development cost data and to identify the parameters that determine the viability of inner-city, high-density residential development. Findings-Cape Town, like other South African cities, suffers from being inefficient and inequitable largely due to its low density and sprawling nature. As a result, most planning-and housing-related policy interventions advocate the provision the higher-density, more affordable residential housing in well-located areas such as the inner city. However, to date, these policies have, on the whole, been unsuccessful in achieving these outcomes. This paper argues that this is because these policies largely do not take urban economics into account and fail to address the value versus cost tension that needs to be overcome to allow for the provision of such accommodation. Based on the viability calculations provided, the research illustrates the main cost drivers associated with higher-density, inner-city residential development and makes certain recommendations as to how these cost barriers can be reduced. Research limitations/implications-Financing arrangements and taxation implications have not been accounted for as these are often specific to the developer and thus cannot be generalised. Practical implications-The solutions put forward by the paper offer lower-income households the ability to successfully compete with higher-income households and other land uses for well-located space in Cape Town's inner city. Social implications-The findings of this research illustrate the type of interventions that the public and private sectors can consider to improve the viability and affordability of affordable housing units in city centres located in emerging countries. Originality/value-While traditional urban economic concepts are drawn upon, the paper contributes to addressing the challenge of providing higher-density, more affordable accommodation in

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Purpose The purpose of this paper is to understand how the nature of infrastructure as a public good has traditionally lent itself to state provision and to review how land-based financing (LBF) can be used to overcome the public infrastructure funding constraints in South Africa. Design/methodology/approach The paper is largely based on a review and analysis of the academic literature, government reports and reports from research institutions such as the World Bank, Department for International Development, Urban Land Institute and the Lincoln Institute. Findings The paper finds that although a number of LBF instruments are being used in South Africa, the majority of them are not suited to addressing the current infrastructure funding constraint. However, the paper finds that some LBF mechanisms, such as tax-increment financing (TIF), that are currently not used could play a role provided that certain preconditions are met. Research limitations/implications LBF has only partially been implemented in South Africa, thus the paper is limited to exploring the issues, challenges and necessary policy and regulatory changes needed to support LBF. Practical implications The review of LBF mechanisms currently being used in South Africa highlights many of their practical limitations. Furthermore, concrete proposals and legislative amendments are proposed in the paper regarding the implementation of additional funding instruments such as TIF. Social implications Infrastructure is regarded as a key precondition for socio-economic development. LBF offers a viable and important alternative for fiscally constraint governments in emerging economies to fund infrastructure provision. Originality/value The main contribution of the paper is its focus on the use of LBF in the under-researched Sub-Saharan African context.

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