TY - JOUR
T1 - Real estate investment and urban density
T2 - exploring the polycentric urban region using a topological lens
AU - Pain, Kathy
AU - Shi, Shuai
AU - Black, Daniel
AU - Blower, Jon
AU - Grimmond, Sue
AU - Hunt, Alistair
AU - Milcheva, Stanimira
AU - Crawford, Ben
AU - Dale, Nick
AU - Doolin, Sam
AU - Manna, Senjuti
N1 - Publisher Copyright:
© 2020 Regional Studies Association.
Copyright:
Copyright 2020 Elsevier B.V., All rights reserved.
PY - 2020/11/13
Y1 - 2020/11/13
N2 - Focusing on commercial office real estate as both a manifestation of and a conduit of cross-border capital flows, this paper refers to the concepts of topology and topography in a theoretical and empirical exploration of contemporary ‘network economy’ spatial implications for the ‘polycentric urban region’ (PUR). A body of research has cast doubt on the normative European representation of the multi-centre PUR as a balanced, sustainable spatial development model. Yet, the model has continued to be propagated in European territorial strategy and has been influential internationally. Academic perspectives and qualitative evidence reviewed in the paper shed a light on mutual dependencies and recursive relations between network economy global structural processes, international office real estate investment practices mediated by city governments, and the spatial configuration of density. Commercial investment and city planning actor practices chime with urban agglomeration, spatial concentration and density. Quantitative evidence of associations between urban density and office real estate investment returns and capital flows is found. It is concluded that network economy topology, politics and the city are in a dialectical relationship with the PUR territorial governance agenda for spatially balanced regional development.
AB - Focusing on commercial office real estate as both a manifestation of and a conduit of cross-border capital flows, this paper refers to the concepts of topology and topography in a theoretical and empirical exploration of contemporary ‘network economy’ spatial implications for the ‘polycentric urban region’ (PUR). A body of research has cast doubt on the normative European representation of the multi-centre PUR as a balanced, sustainable spatial development model. Yet, the model has continued to be propagated in European territorial strategy and has been influential internationally. Academic perspectives and qualitative evidence reviewed in the paper shed a light on mutual dependencies and recursive relations between network economy global structural processes, international office real estate investment practices mediated by city governments, and the spatial configuration of density. Commercial investment and city planning actor practices chime with urban agglomeration, spatial concentration and density. Quantitative evidence of associations between urban density and office real estate investment returns and capital flows is found. It is concluded that network economy topology, politics and the city are in a dialectical relationship with the PUR territorial governance agenda for spatially balanced regional development.
KW - actor practices
KW - polycentric urban region
KW - real estate
KW - spatial planning
KW - territorial governance
KW - topography
KW - topology
KW - urban density
UR - http://www.scopus.com/inward/record.url?scp=85096122844&partnerID=8YFLogxK
U2 - 10.1080/21622671.2020.1837665
DO - 10.1080/21622671.2020.1837665
M3 - Article
AN - SCOPUS:85096122844
JO - Territory, Politics, Governance : Journal of the Regional Studies Association
JF - Territory, Politics, Governance : Journal of the Regional Studies Association
SN - 2162-2671
ER -