Unlocking the Value of Legacy Assets

As cash strapped communities look to maximize their return on investment, a potent argument can be made for leveraging significant investments already made in a city's legacy assets to drive economic development.

Mark Alan Hughes and Elise Harrington, with the University of Pennsylvania's School of Design, look to Philadelphia's recent experiences in leveraging the city's vacant parcels and existing building stock, and find examples of how cities around the world might turn their liabilities into drivers of economic development. 

"Unlocking value from legacy assets is an emerging organizing strategy for metros across the country and around the globe," the authors say. "The inventory of physical assets from the accumulation of fixed and durable capital is one source of legacy. But legacy assets also come in the form of workforce demographics, jurisdictional competence, and leadership culture. These assets can harbor hidden value that, once unlocked, can accelerate a metropolitan agenda in unexpected ways."

Full Story: Cities make use of legacy assets

Comments

building block set

NEW! Build the world you want to see

Irresistible block set for adults when placed on a coffee table or desk, and great fun for kids.
$25

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 $245
City Plate table setting

New Arrival! City Plates

City downtown cores printed on gorgeous decorative collectible porcelain plates.
$50.00
T-shirt with map of Chicago

Show your city pride

Men's Ultrasoft CityFabric© tees. Six cities available.
$23.00