Spanish Cities Saddled with Half-Completed Infrastructure Projects

Marc Herman writes that cities in Spain used the housing bubble as a way to finance major infrastructure projects that now, after the real estate crash, they really can't afford.

Herman says that while the crisis in the U.S. has primarily impacted homeowners, city governments are feeling the hit the worst in Spain. Herman digs into the case of the unfinished Castellon Airport:

"Castellon Airport has become one of the better-known examples of Spain's so-called "white elephant" problem. Across the country, local governments in the European nation of 44 million are saddled with thousands of publicly funded construction projects made in the starrier moments of a mid-2000s property boom."

Herman asks if the boom was just exuberance, or if there is corruption underlying the problem.

Full Story: Spain’s Vacant Airport Typifies European Woes

Comments

Book cover of the Guide to Graduate Planning Programs 4th Edition

Thinking about Grad School?

New! 4th Edition of the Planetizen Guide to Graduate Urban Planning Programs just released.
Starting at $24.95

Prepare for the AICP Exam

Join the thousands of students who have utilized the Planetizen AICP* Exam Preparation Class to prepare for the American Planning Association's AICP* exam.
Starting at $209
Wood necklace with city map

City Necklaces

These sweet pendants are engraved on a cedar charm with a mini map of selected cities. The perfect gift for friends and family or yourself!
$28.00
Book cover of Unsprawl

Unsprawl: Remixing Spaces as Places

Explore visionary, controversial and ultimately successful strategies for building people-centered places.
Starting at $12.95