ECONOMICS UNIQUENESS

Recommendations

Info

126 ■ THE <strong>ECONOMICS</strong> OF <strong>UNIQUENESS</strong> BOX 5.3 Urban Upgrading Increases Property Values in the Historic Medina of Tunis Tunisia Third Urban Development Project (Project number 005652) Total Project Cost: US$25 million Total Loan Amount: US$25 million Approved: December 1982 – Closed: June 1993 The Tunisian authorities, with assistance from the World Bank, prepared a project to help provide better shelter and improve urban services for low-income families. The Hafsia Quarter in the historic medina of Tunis was chosen due to its seriously deteriorated neighborhoods and its high incidence of poverty. The project supported conservation of the medina’s heritage by (1) establishing design guidelines for all new construction and renovations, (2) upgrading basic infrastructure and urban services, (3) constructing residential and commercial buildings on vacant land, (4) selling serviced land to private developers, and (5) using the municipality’s returns from sales to fund the renovation of about 47,000 square meters of low-income housing. From the start of the project in 1982 to its completion in 1993, property values rose by 12 percent in the medina versus an increase of 8 percent for property on the urban fringe. The increase in value is seen as largely due to location and employment factors. Forty-three percent of new residents in the medina work in the adjacent central business district, and 24 percent work in the medina itself (62 percent of residents walk to work). Other factors that contributed to the rise of property values include the neighborhood’s distinctive character and the government’s visible commitment to improving the area. Source: Graduate School of Design, Harvard University and Association Sauvegarde la Médina Tunis. Case Study: Tunis, Tunisia Rehabilitation of the Hafsia Quarter 1998. healthy or experiencing a revival, there is, at least among segments of the market, an expressed preference to be close to some of the amenities and services off ered. Also, however, as was demonstrated in some of the studies discussed earlier, there seems to also be a nominal premium attached to being near an individual landmark—such as the mosque and/or the suk (marketplace). Finally there are public policy reasons. A city begins making a commitment to a historic area by adopting a comprehensive heritage-based regeneration strategy. Th at strategy may include elements such as off ering incentives to developers,
HERITAGE CONSERVATION AND PROPERTY VALUES ■ 127 investing in public infrastructure, restoring iconic buildings, and improving the provision and quality of public services. Th e enhanced physical environment is intended to enhance the economic environment, and when that happens private investments ensue, generating positive externalities in the form of improved quality of life. Hence, property values generally tend to rise. However, one of the most important public policy actions is fi rst identifying and then protecting a city’s heritage resources. When there is public confi dence that the quality and character of a heritage district will be protected, a sizable subset of the property market will display that confi dence by paying a premium to own property there. (See box 5.4.) BOX 5.4 A Wide-Ranging Set of Project Components Supports Development in Georgia Georgia Regional Development Project (Project number 126033) Total Project Cost: US$70 million Total Loan Amount: US$60 million Approved: March 2012 – Ongoing The government of Georgia aims to develop the local economy in the Kakheti region, which was a key juncture on the Silk Road and has long been at the heart of the country’s ancient culture, history, and economy. Through an integrated approach the project focuses on (1) upgrading the urban infrastructure in the historic city cores of Telavi and Kvareli and the heritage village of Dartlo, which will include rehabilitating all public utilities and space (including parks); (2) restoration of the facades of 150 publicly and privately owned buildings with historic architecture; (3) management and development of 11 cultural heritage sites (including public parking, toilets, souvenir shops, and information kiosks); (4) provision of incentives to the private sector to invest in tourism in Kakheti (including free public infrastructure and streamlined business start-up procedures); and (5) improved management of tourist destinations and the development of two leisure travel clusters (cultural heritage/ wine tasting and adventure/ecotourism). The ultimate goal is to attract private investments, promote public-private partnerships, and revitalize local business activity. Source: Georgia Regional Development Project Appraisal Document.
Page 1:
Public Disclosure Authorized Public
Page 4 and 5:
Th e Urban Development Series discu
Page 6 and 7:
© 2012 International Bank for Reco
Page 8 and 9:
vi ■ CONTENTS Project Appraisal i
Page 10 and 11:
viii ■ CONTENTS Appendix II: Addi
Page 12 and 13:
x ■ CONTENTS 7.4 Tourism Is Coupl
Page 14 and 15:
xii ■ CONTENTS 9.1 How to Organiz
Page 17 and 18:
Exegi monumentum aere perennius reg
Page 19:
ACKNOWLEDGMENTS ■ xvii Cultural O
Page 22 and 23:
xx ■ OVERVIEW What Are the Object
Page 24 and 25:
xxii ■ OVERVIEW and captures the
Page 26 and 27:
xxiv ■ OVERVIEW periphery, especi
Page 28 and 29:
xxvi ■ OVERVIEW tourism—by impr
Page 30 and 31:
xxviii ■ OVERVIEW 3. Institutiona
Page 33 and 34:
1 Livable Historic City Cores and E
Page 35 and 36:
LIVABLE HISTORIC CITY CORES AND ENA
Page 37 and 38:
Page 39 and 40:
Page 41 and 42:
Page 43 and 44:
Page 45 and 46:
Page 47 and 48:
2 Investing in the Sense of Place:
Page 49 and 50:
INVESTING IN THE SENSE OF PLACE ■
Page 51 and 52:
Page 53 and 54:
Page 55 and 56:
Page 57 and 58:
Page 59 and 60:
Page 61 and 62:
0 45° INVESTING IN THE SENSE OF PL
Page 63 and 64:
Page 65 and 66:
FIGURE 2.4 continued INVESTING IN T
Page 67 and 68:
Page 69 and 70:
Page 71 and 72:
A Dubious Alternative: Property Rec
Page 73 and 74:
Page 75:
Page 78 and 79:
46 ■ THE ECONOMICS OF UNIQUENESS
Page 80 and 81:
Page 82 and 83:
Page 84 and 85:
Page 86 and 87:
Page 88 and 89:
Page 90 and 91:
Page 92 and 93:
Page 94 and 95:
Page 96 and 97:
Page 98 and 99:
Page 100 and 101:
Page 102 and 103:
Page 104 and 105:
Page 106 and 107:
Page 108 and 109: 76 ■ THE ECONOMICS OF UNIQUENESS
Page 130 and 131: TABLE 4.1 Overview of Hedonic Price
Page 196 and 197: FIGURE 6.5 Quito and Oaxaca: Timeli
Page 206 and 207: TABLE 6.5 Quito Investments in the
Page 208 and 209:
Page 210 and 211:
Page 212 and 213:
Page 215 and 216:
7 UNESCO World Heritage List, Touri
Page 217 and 218:
UNESCO WORLD HERITAGE LIST, TOURISM
Page 219 and 220:
Page 221 and 222:
TABLE 7.1 Regional and Historical D
Page 223 and 224:
Page 225 and 226:
Page 227 and 228:
TABLE 7.3 Benchmark Regressions Fir
Page 229 and 230:
Page 231 and 232:
Page 233 and 234:
Page 235 and 236:
Page 237 and 238:
Page 239 and 240:
TABLE 7.10 Robustness to Using Diff
Page 241 and 242:
Page 243 and 244:
Page 245 and 246:
8 Financial Mechanisms for Historic
Page 247 and 248:
FINANCIAL MECHANISMS FOR HISTORIC C
Page 249 and 250:
Page 251 and 252:
Page 253 and 254:
BOX 8.2 FINANCIAL MECHANISMS FOR HI
Page 255 and 256:
BOX 8.3 FINANCIAL MECHANISMS FOR HI
Page 257 and 258:
TABLE 8.1 Local Financial Tools Use
Page 259 and 260:
FIGURE 8.4 Brownfi eld Concession T
Page 261 and 262:
Page 263 and 264:
Page 265 and 266:
Page 267 and 268:
Page 269 and 270:
Page 271 and 272:
Page 273 and 274:
Page 275:
Page 278 and 279:
Page 280 and 281:
Page 282 and 283:
Page 284 and 285:
Page 286 and 287:
Page 288 and 289:
Page 290 and 291:
Page 292 and 293:
Page 294 and 295:
Page 296 and 297:
Page 298 and 299:
Page 300 and 301:
Page 302 and 303:
Page 304 and 305:
Page 306 and 307:
Page 308 and 309:
Page 310 and 311:
Page 312 and 313:
Page 314 and 315:
Page 317 and 318:
Boxes, fi gures, maps, notes, and t
Page 319 and 320:
China. See also specifi c cities ac
Page 321 and 322:
public sector role, 222-26, 223b, 2
Page 323 and 324:
Kraay, A., 198 Kratz, C. G., 96 L l
Page 325 and 326:
Pine Ridge Reservation (U.S.), 238
Page 327 and 328:
Shaoxing, China, local residents re
Page 329 and 330:
urban economics appraisal approach,
Page 332:
ECO-AUDIT Environmental Benefits St
show all

ECONOMICS UNIQUENESS

Create successful ePaper yourself

Delete template?

Save as template?