The implications of 11 September 2001, terrorism and global security on American property values, urban form, finance and functions

Baen, John

doi:10.1108/jpif.2004.11222caa.001

Cited by 2 publications

(4 citation statements)

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“…Furthermore, studies on seismic risks highlight that even the possibility of earthquake impacts housing values (Keskin et al, 2017;Lara-Pulido et al, 2022). According to Baen (2003), in addition to the immediate impacts, the 9/11 terrorist attacks had longer-term consequence for RE via higher operating costs due to additional security and insurance requirements in case of further attacks. Social impacts can vary greatly, but a central impact is evolving supply-demand dynamics.…”

Section: On Crisis Impacts On Real Estatementioning

confidence: 99%

Evading Danger: The Crisis Impact Framework for Real Estate

Tähtinen,

Toivonen,

Rashidfarokhi

2023

International Journal of Strategic Property Management

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With continuing urbanisation, real estate (RE) has become increasingly important in crisis management. The field of crisis research is still fragmented, especially in the RE context and focuses on the retrospective analysis of single crisis events. This qualitative, futures studies–based paper aims to build a more holistic, foresight-driven understanding of how diverse crises affect RE. It identifies 128 possible future crises from a societal perspective and adopts a novel method in the field, the Futures Wheel, to collect the views of 179 practicing and academic experts via 58 multidisciplinary workshops to analyse the impacts of the identified crises. From this analysis emerged the Crisis Impact Framework for Real Estate, which includes 23 impact themes that synthesise the variety of direct and indirect crisis impacts on RE’s hard elements (e.g. the physical condition of materials) and soft elements (e.g. economic value changes). This study contributes an integrated and foresight-driven perspective to the existing research literature. The framework can assist RE market participants in preparing and assessing critical elements of RE before, during and after crisis impacts have manifested and can help spatial planners, investors and RE managers to reflect in a more multidimensional manner on their vulnerabilities and crisis preparedness.

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Section: On Crisis Impacts On Real Estatementioning

confidence: 99%

Evading Danger: The Crisis Impact Framework for Real Estate

Tähtinen,

Toivonen,

Rashidfarokhi

2023

International Journal of Strategic Property Management

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“…Despite the preponderance of definitions, it is difficult to find one which includes a security dimension, let alone a reference to terrorism. Where mentioned, the security role of facilities managers continues to be restricted to traditional issues such as theft, computer crimes, drugs and workplace violence, a phenomenon which is driven by a general belief that it is the government's responsibility to deal with terrorism (Baen, 2002; NEI, 2003). Nevertheless, since over 90 per cent of Australia's critical infrastructure and buildings are privately owned, effective protection against all forms of hazard, including terrorism, depends on an effective partnership between business community and government (Rothery, 2005).…”

Section: Terrorism and Facilities Managementmentioning

confidence: 99%

“…For example, in 2003, insurance premiums for high rise buildings and supermarkets in the state of New South Wales, Australia, rose by 18 per cent to pay for protection against terrorist attack and a surcharge levy of 12 per cent was applied to the insurance premiums of all commercial property in the Sydney Central Business District (CBD) because of the higher risk of terrorist attack compared to the suburbs. In the US, premium increases for some high‐profile CBD buildings have been as high as 300 per cent (Baen, 2002). Finally, an effective terrorist management plan can also insulate an organisation's productivity from the fear associated with terrorist threats.…”

Section: Terrorism Strategies For Facilities Managersmentioning

confidence: 99%

“…Finally, an effective terrorist management plan can also insulate an organisation's productivity from the fear associated with terrorist threats. For example, after the 11th September attacks office workers in CBDs were so preoccupied with their security, that some kept military surplus parachutes under their desks as a back up evacuation strategy (Baen, 2002).…”

Section: Terrorism Strategies For Facilities Managersmentioning

confidence: 99%

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Terrorism prevention, preparedness, and response in built facilities

Then

Loosemore²

2006

Facilities

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PurposeTo explore the risk management, crisis management and business continuity management (BCM) practices of facilities managers responsible for a range of major public and private buildings in Sydney, Australia.Design/methodology/approachThe research method involved a survey of facilities managers responsible for the management of 27 potentially vulnerable buildings in the Sydney metropolitan area, Australia.FindingsThe results suggest that facilities managers under estimate the vulnerability of buildings to terrorist attack, may have a misconception about likely targets and may be unprepared for such an eventuality.Research limitations/implicationsThese findings are restricted to the restricted sample of facilities managers interviewed who were responsible for a range of major public and private buildings in Sydney, Australia.Practical implicationsHighlights the security responsibilities of facilities managers in the new security environment and practical measures which can be taken to improve terrorism preparedness, recovery and response.Originality/valueBuildings, infrastructure and public spaces have increasingly become the focus of terrorist attacks. Yet little is known about the level of preparedness to deal with this eventuality. This paper presents a critique of the literature on terrorism applied to building facilities, integrating the literature on crisis management, BCM and risk management.

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The implications of 11 September 2001, terrorism and global security on American property values, urban form, finance and functions

Cited by 2 publications

References 0 publications

Evading Danger: The Crisis Impact Framework for Real Estate

Evading Danger: The Crisis Impact Framework for Real Estate

Terrorism prevention, preparedness, and response in built facilities

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