The physical regeneration model is inadequate for the complex needs of places and has failed to keep pace with technological change. Indy Johar sets out a new model of place-based change for the 21st century The existing real estate-based regeneration model presents a conflict of interest between the short-term focus of many developers, the long-term issues facing the public sector, and the embedded local concerns of citizens, community and local business stakeholders. The social contract underlying local regeneration seems broken. We need a 21st century governance and finance model to structurally engage all stakeholders, realign interests, and rebuild trust and accountability. Regeneration past and present Urban renewal as an answer to social and economic deprivation has a long history. It emerged in the 19th century as a reaction to the living conditions of the urban poor in rapidly industrialising cities. The agenda assumed that better physical conditions for living would … (To read the full article, subscribe below)

Indy Johar is a co-founder of Dark Matter Laboratories and the Project00