A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Commercial real estate companies as urban developers - social and financial responsibilities in conjunction
That the city is a potential catalyst for societal improvements is becoming increasingly accepted, and simultaneously social sustainability as a concept is attaining greater attention. As the real estate industry is making claims regarding their contributions within urban development as well as social sustainability, the study aims to bring the different concepts together, and investigate where the ambition to contribute in the urban development derivesfrom and how the contributions actually relate to the social sustainability of the city. The study focuses solely on the commercial real estate industry which means that housing isn’t included. Via a document study of Vasakronan’s website as well as interviews with their employees, the study has aimed to understand Vasakronan’s motives in urban development using shared value theory and institutional theory. This is based on the notion that their actions towards a socially sustainable city can be explained by 1) that their social and economic goals in urban development can be integrated, or 2) that formal or informal institutional pressure affects their actions. The study shows that the perceived formal institutional pressure differs in each region where Vasakronan operates, and that their urban development actions can to great extent be explained by Vasakronan investing long term in properties located in clusters. The clustering results in economic incentives to work towards their neighborhoods being considered attractive as it increases rents as well as property values. However, the distinction between planning for an attractive neighborhood and planning for a socially sustainable city is of importance, especially as Vasakronan are located in already attractive areas. As an example, Vasakronan can provide public values and fund development of public areas, but their investments could also be considered to increase segregation. In the end, the evaluation of the company’s contribution towards the socially sustainable city comes down to one’s perception of what ...
Commercial real estate companies as urban developers - social and financial responsibilities in conjunction
That the city is a potential catalyst for societal improvements is becoming increasingly accepted, and simultaneously social sustainability as a concept is attaining greater attention. As the real estate industry is making claims regarding their contributions within urban development as well as social sustainability, the study aims to bring the different concepts together, and investigate where the ambition to contribute in the urban development derivesfrom and how the contributions actually relate to the social sustainability of the city. The study focuses solely on the commercial real estate industry which means that housing isn’t included. Via a document study of Vasakronan’s website as well as interviews with their employees, the study has aimed to understand Vasakronan’s motives in urban development using shared value theory and institutional theory. This is based on the notion that their actions towards a socially sustainable city can be explained by 1) that their social and economic goals in urban development can be integrated, or 2) that formal or informal institutional pressure affects their actions. The study shows that the perceived formal institutional pressure differs in each region where Vasakronan operates, and that their urban development actions can to great extent be explained by Vasakronan investing long term in properties located in clusters. The clustering results in economic incentives to work towards their neighborhoods being considered attractive as it increases rents as well as property values. However, the distinction between planning for an attractive neighborhood and planning for a socially sustainable city is of importance, especially as Vasakronan are located in already attractive areas. As an example, Vasakronan can provide public values and fund development of public areas, but their investments could also be considered to increase segregation. In the end, the evaluation of the company’s contribution towards the socially sustainable city comes down to one’s perception of what ...
Commercial real estate companies as urban developers - social and financial responsibilities in conjunction
Granbom, Otto (author)
2024-01-01
Theses
Electronic Resource
English
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