Brownfield regeneration and the shifting of financial risk: between plans and reality in public-private partnerships

Internationally, brownfield regeneration projects are delivered through public-private partnerships that form complex legal and structural delivery mechanisms. Utilizing private-sector finance and skills is an accepted practice to reduce financial risk for the public sector while delivering profits...

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Bibliographic Details
Published inUrban research & practice Vol. 17; no. 2; pp. 149 - 170
Main Authors van den Hurk, Martijn, Williams, David, Luis dos Santos Pereira, Alvaro, Tallon, Andrew
Format Journal Article
LanguageEnglish
Published Abingdon Routledge 14.03.2024
Taylor & Francis Ltd
Subjects
Brownfield regeneration
Finance
Financial planning
Financial risk
Governance
Local government
Partnerships
Private sector
Profits
Public finance
Public private partnerships
Public sector
Rhetoric
Risk
Risk reduction
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Summary:Internationally, brownfield regeneration projects are delivered through public-private partnerships that form complex legal and structural delivery mechanisms. Utilizing private-sector finance and skills is an accepted practice to reduce financial risk for the public sector while delivering profits for the private sector. This article explores three international brownfield regeneration schemes. It highlights how and why financial risk remains within the public sector from the outset or returns to the public sector over time, despite the initial rhetoric for this burden to be carried mainly by the private sector. The analysis improves the empirical understanding of financial risk dynamics in brownfield regeneration.
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ISSN:1753-5069
1753-5077
DOI:10.1080/17535069.2022.2144430