Intra-metropolitan preferences of property developers in greater Toronto’s office market

Charney, Igal

doi:10.1016/j.geoforum.2006.12.009

Cited by 23 publications

(19 citation statements)

References 40 publications

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“…Municipalities thus seem to prefer more structural and less formal consultations of firms. This finding is consistent with previous work that has outlined the importance developers attach to maintaining personal contacts with other actors active in real estate markets (Adams et al, 2012;Charney, 2003Charney, , 2007. However, these studies have not explicitly addressed this issue in the context of expectation forming about future demand.…”

Section: Methods Used To Forecast Demandsupporting

confidence: 89%

“…Guy, Henneberry, and Rowley (2002) have demonstrated the specific cultures and 'operational' rationalities that drive decisions of different types of developers. In addition, several institutional economics-based studies have illustrated the importance developers attach to social networks, reputation and trust (Adams, Leishman, & Watkins, 2012;Charney, 2003Charney, , 2007. Finally, although they did not explicitly adopt a behavioural economics orientation, so-called 'behavioural' studies have previously shed light on various aspects of developer decision-making such as location decisions (see e.g.…”

Section: Behavioural Economics and Developer Decisionsmentioning

confidence: 99%

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Understanding industrial land supply: how Dutch municipalities make decisions about supplying serviced building land

Ploegmakers

Krabben

Buitelaar

2013

Journal of Property Research

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The supply side of real estate markets has remained relatively neglected compared to the body of work that studies the demand side. Consequently, little is known about the way that suppliers actually make decisions about the quantity of land and property to be made available for sale at any one time. This paper investigates how one particular type of suppliers, public developers of serviced industrial building land in the Netherlands, assess market conditions, and the way these analyses influence decisions to make more serviced building land available. This paper presents evidence from interviews amongst municipal developers and finds that profit considerations are not the main motive behind their decisions to develop industrial land. Municipalities are involved in land development primarily because they want to be able to steer local economic development. Furthermore, they also pay attention to 'nonprice' signals of market conditions -sales levels in particular -when deciding to make more land available for sale. However, we should be cautious with interpreting these results since this study only addresses public agencies, which might operate with 'soft budget constraints' and might have alternative preference functions than commercial developers.

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Section: Methods Used To Forecast Demandsupporting

confidence: 89%

Section: Behavioural Economics and Developer Decisionsmentioning

confidence: 99%

Understanding industrial land supply: how Dutch municipalities make decisions about supplying serviced building land

Ploegmakers

Krabben

Buitelaar

2013

Journal of Property Research

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“…Yet, local knowledge is still essential to the production of built objects for several reasons. These include the institutional 'thickness' of property markets (Beauregard 2005;Charney 2007b;Fainstein 2001;Henneberry and Parris 2013); the need for architects, developers and estate agents to deal with local authorities and legal requirements (Cidell 2014;Magalhães 2001); and the fragmented and project-based nature of work in the construction industry (Green 2011). The localization strategies and organizational structures of global architectural and planning firms therefore tend to differ from those of other professional business services.…”

Section: Circulating Knowledge In the Production Of The Built Environmentioning

confidence: 99%

Circulating knowledge, marketization and norm‐making: international developers and construction firms in Eastern Europe since 2000

Grubbauer

2015

Global Networks

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In this article, I explore how international actors in the development of real estate projects affect building practices in local markets. The focus is on the dynamics of interaction and exchange of knowledge between the disciplines of architecture and construction. Using the German ECE group and its expansion in the region as a case study, I look at shopping centre development in Central and Eastern Europe (CEE) over the past two decades. I seek to show that the implementation of globally circulated design and planning solutions relies heavily on the particular construction practices and technologies available in a local market. I also argue that the role of marketization in diffusing building practices in the construction sector is as powerful as the work of global architects. Nonetheless, judging from the existing links and feedback between architectural practices and the construction industry, there is a definite need for further research to bridge the gap between analysis of knowledge mobility within the field of urban studies on the one hand and construction studies research on the other.

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“…Given its centrality to the production of the built environment and city-making, research on the structure of the contemporary commercial real estate development sector has been limited but, compared to other economic sectors, it has tended to be regarded as more spatially dispersed, embedded in places of production and less consolidated. This blend of spatial fixity and the creation of tailored products in an intrinsically transitory environment has meant that commercial real estate development markets have been characterised as local phenomena dominated by locally embedded real estate development organisations that have privileged access to localised knowledge and political networks (Wood, 2004;Charney, 2007). However, conversely, at the same time, it is possible to point to numerous firm-, industry-and country-specific examples of cross-border real estate development.…”

Section: Introductionmentioning

confidence: 99%

“…(Charney, 2007(Charney, , p. 1179. The research draws upon a data set of commercial real estate transactions to analyse the pattern and determinants of pan-European cross-border real estate development.…”

Section: Introductionmentioning

confidence: 99%

The persistence of distance

Sherrin¹,

McAllister

Nanda

2015

Journal of Financial Management of Property and Construction

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Purpose -This paper aims to investigate the scale and drivers of cross-border real estate development in Western Europe and Central and Eastern Europe. Design/methodology/approach -Placing cross-border real estate development within the framework of foreign direct investment (FDI), conceptual complexities in characterizing the notional real estate developer are emphasized. Drawing upon a transaction database, this paper proxies cross-border real estate development flows with asset sales by developers. Findings -Much higher levels of market penetration by international real estate developers are found in the less mature markets of Central and Eastern Europe. Analysis suggests a complex range of determinants with physical distance remaining a consistent barrier to cross-border development flows. Originality/value -This analysis adds significant value in terms of understanding cross-border real estate development flows. In this study, a detailed examination of the issues based on a rigorous empirical analysis through gravity modelling is offered. The gravity framework is one of the most confirmed empirical regularities in international economics and commonly applied to trade, FDI, migration, foreign portfolio investment inter alia. This paper assesses the extent to which it provides useful insights into the pattern of cross-border real estate development flows. Cross-border real estate development as a form of FDICommonly using gravity models for empirical investigation, there is a voluminous theoretical and empirical literature on cross-border flows of international trade and JFMPC 20,2 Pat has been researching and teaching real estate and planning students at the Bartlett since September 2012. Pat has been involved in numerous research projects funded by or in collaboration with industry partners. He has published widely on a range of topics linked to real estate appraisal and investment. Recently, he has undertaken research projects for ESRC and DCLG focussing on development viability and planning obligations. He has published extensively on the relationship between the financial and the environmental performance of commercial and residential buildings.

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Intra-metropolitan preferences of property developers in greater Toronto’s office market

Cited by 23 publications

References 40 publications

Understanding industrial land supply: how Dutch municipalities make decisions about supplying serviced building land

Understanding industrial land supply: how Dutch municipalities make decisions about supplying serviced building land

Circulating knowledge, marketization and norm‐making: international developers and construction firms in Eastern Europe since 2000

The persistence of distance

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