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

van den Hurk, Martijn; Williams, David; Luis dos Santos Pereira, Alvaro; Tallon, Andrew

Abstract

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.

• Journal Article Type: Article
• Acceptance Date: Nov 13, 2022
• Online Publication Date: Nov 13, 2022
• Publication Date: 2024
• Deposit Date: Nov 21, 2022
• Publicly Available Date: May 23, 2024
• Journal: Urban Research and Practice
• Print ISSN: 1753-5069
• Electronic ISSN: 1753-5077
• Publisher: Taylor & Francis (Routledge)
• Peer Reviewed: Peer Reviewed
• Volume: 17
• Issue: 2
• Pages: 149-170
• DOI: https://doi.org/10.1080/17535069.2022.2144430
• Keywords: Urban Studies; Geography, Planning and Development, Public-private partnerships, Financial risk, Brownfield regeneration, Local government, Governance
• Public URL: https://uwe-repository.worktribe.com/output/10185382
• Publisher URL: https://www.tandfonline.com/doi/full/10.1080/17535069.2022.2144430
• Additional Information: Peer Review Statement: The publishing and review policy for this title is described in its Aims & Scope.; Aim & Scope: http://www.tandfonline.com/action/journalInformation?show=aimsScope&journalCode=rurp20; Published: 2022-11-13