Land readjustment for value capturing:
            <i>A new planning tool for urban redevelopment</i>

Krabben, Erwin van der; Needham, Barrie

doi:10.3828/tpr.79.6.4

Cited by 98 publications

(71 citation statements)

References 14 publications

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“…Second, the public agency is able to finance urban development through betterment charges and the sale of land. Third, the landowners gain from the appreciation in the land value due to the provision of infrastructure (Krabben & Needham, 2008). In rapidly growing urban areas, the land value gain on the remaining land parcel often far exceeds the sum of the betterment charges paid by the landowner and the monetary value of the un-serviced land transferred by the landowner to the public agency.…”

Section: What Is Lpr?mentioning

confidence: 98%

Use of land pooling and reconstitution for urban development: Experiences from Gujarat, India

Mathur¹

2013

Habitat International

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Section: What Is Lpr?mentioning

confidence: 98%

Use of land pooling and reconstitution for urban development: Experiences from Gujarat, India

Mathur¹

2013

Habitat International

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“…Innovation in this case study lies in the use of 'land readjustment financing' or 'urban land readjustment financing' (Van der Krabben and Needham, 2008), which is a public planning instrument tailored at de-risking real estate development and creating potential value gain for private property owners and developers (Van der Krabben and Heurkens, 2015).…”

Section: Lammenschans City Of Leiden Netherlandsmentioning

confidence: 99%

Innovative real estate development finance – evidence from Europe

Squires

Hutchison

Adair

et al. 2016

Journal of Financial Management of Property and Construction

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Purpose – This research aims to provide an insight into large-scale real estate projects in Europe and how they are using a more innovative blend of finance. Design/methodology/approach – The methodology involved a mix of desk-based study, interviews and case studies. Interviews were held with financiers, policymakers, developers, investors, fund managers and academics. The specific case projects were Battersea Power Station Development in London; Leipziger Platz site in Berlin; and the Lammenschans site in the city of Leiden, The Netherlands. Findings – The research found that there is growth in the blend of financial products used in real estate development within large-scale mixed-use projects. This new blend is set with greater equity financing, often from domestic and foreign consortiums generating institutional funds – alongside private debt financing – that utilise a mix of large-scale multi-bank finance. Practical implications – The scale of the challenge in financing real estate development allied with capital budget constraints has meant that the appetite for innovative finance mechanisms has gained considerable momentum in practice and policy. This research investigates current examples in development finance and provides a discussion of the opinion of key multi-stakeholder participants in the individual cases, and trends more strategically at a broader level. Originality/value – This detailed study of three major development sites and at a more broader strategic level is significant, in that it provides a better understanding of the differing blends of finance that are being used.

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“…TIF is a bounded value capturing instrument (van der Krabben & Needham, 2008) designed to 'earmark the related increment of property tax in a proclaimed area to fund public investments' (Alexander, 2012). While the duration varies, a TIF is typically based on a 25-yeartime span in a prescribed designated community improvement area.…”

Section: Tif: a Short Overviewmentioning

confidence: 99%

‘Test Driving’ a Financing Instrument for Climate Adaptation: Analyzing Institutional Dilemmas using Simulation Gaming

Root

Krabben

Spit

2016

Planning Practice & Research

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Land readjustment for value capturing: A new planning tool for urban redevelopment

Cited by 98 publications

References 14 publications

Use of land pooling and reconstitution for urban development: Experiences from Gujarat, India

Use of land pooling and reconstitution for urban development: Experiences from Gujarat, India

Innovative real estate development finance – evidence from Europe

‘Test Driving’ a Financing Instrument for Climate Adaptation: Analyzing Institutional Dilemmas using Simulation Gaming

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