Large-scale urban development projects as a dilemma affecting the housing crisis. The case of Milano Porta Romana
Loading...
Date
2024
Authors
Editors
Journal Title
Journal ISSN
Volume Title
Publisher
AESOP
Abstract
This paper explores the linkages between housing studies and large-scale urban development projects through the lens of financialisation. Especially over the last three decades, global real estate finance massively hit local real estate markets, thus generating segregation, exclusion, and densification by commodifying housing as a financial asset class. Particularly, property financialisation has routed major projects into catalysts to extract capital gains from land value rather than levers to foster the right to housing and plan a 'just city'. Through the case of Milano Porta Romana, this paper shows how financialised schemes which are shaping such a large-scale urban regeneration project represent a dilemma for scholars, practitioners and politicians since, on the one hand, they produce home provision but, on the other hand, they rise up the housing costs without really tackling the housing unaffordability issue and these conditions affect the 'right to the city' for students, middle-class workers, and migrants.
Keywords: financialisation, large-scale urban development projects, housing crisis; densification; Milano Porta Romana
Description
Game changer? Planning for just and sustainable urban regions, Paris, 8-12th July 2024
Keywords
License
CC-BY