Brownfield Redevelopment: an Economic and Management Analysis

Large areas in our cities are considered as urban distressed areas where human, socioeconomic and cultural capital is prone to disasters and adverse functions. Redevelopment is a multidisciplinary process including both physical and non-physical aspects such as socioeconomic, finance, administrative, and cultural factors. Contrary to what is initially expected, these neglected or not prioritized factors in reality govern the physical aspect. This paper attempts to explain the importance and impact of non-physical factors in rehabilitation projects. To this end, the experience of implementing several redevelopment projects throughout Iran is reviewed and some new financing modes are proposed. Finally, the importance of a catalytic element in the redevelopment cycle is stressed.