Conceptualizing sustainability in the real estate development process
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Published:
May 28, 2019
Keywords:
Sustainability, Real Estate Development Process, Institutionalist Approach
Main Article Content
Abstract
Operationalizing sustainability within the real estate development is a challenge as such development process is complex, multidisciplinary in nature and involves multiple agencies. The paper, therefore, aims at strengthening the conceptualization of sustainability within the real estate development process (REDP) to address this challenge effectively. Adopting the systematic review, 127 publications focused on sustainability and REDP were appraised. Focusing on the institutionalist viewpoints, sustainability was found to be a problem driven notion which is socially constructed. Therefore, it requires to be viewed within the larger picture of agency, structure and power in the context of economic, social and environmental uncertainties. These are found to be applied in the same way in the contemporary REDP literature too. On account of this, the paper suggests, conceptualizing sustainability within REDP needs the latter to take into account the agency dynamics of actors in the development process such as agency motivation (values) to offer a meaningful operationalization of the concept. In other words, this paper calls for significant stakeholder participation in the REDP which allows significant levels of economic, social and environmental values of actors to be brought forward to build consensus to determine as to what is sustainability within it.
Article Details
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Perera, U., & Mensah, C. A. (2019). Conceptualizing sustainability in the real estate development process. Sustinere: Journal of Environment and Sustainability, 3(1), 1–14. https://doi.org/10.22515/sustinere.jes.v3i1.62
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References
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Doak, J., & Karadimitriou, N. (2007). ( Re ) development , Complexity and Networks: A Framework for Research. Urban Studies, 44(2), 209–229.
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Hägerstrand, T. (1976). Innovation as a spatial process. IL: University of Chicago Press.
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Harvey, D. (1985). The Urbanisation of Capital. London: Blackwells.
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Healey, P. (1992). An institutional model of the development process. Journal of Property Research, 9(1), 33–44. http://doi.org/10.1080/09599919208724049
Healey, P. (1999). Institutionalist Analysis, Communicative Planning, Shaping Places. Journal of Planning Education and Research, 19, 111–121. http://doi.org/10.1177/0739456X9901900201
Healy, P. (2007). Urban complexity and spatial strategies: towards a relational planning for our times. London: Routledge.
Holland, S., Ott, S. H., & Riddiough, T. J. (2002). The role of uncertainty in investment: An examination of competing investment (Vol. 4307). Massachusetts: Massachusetts Institute of Technology.
Horton, J., Hadfield-Hill, S., & Kraftl, P. (2015). Children living with “sustainable†urban architectures. Environment and Planning A, (47), 903–921. http://doi.org/10.1068/a140401p
Kaiser, E. J., & Weiss, S. F. (1970). Public Policy and The Residential Development Process. Journal of the American Institute of Planners, 36(1), 30–37. http://doi.org/10.1080/01944367008977277
Kauko, T. (2017). Pricing and Sustainability of Urban Real Estate. London: Routledge.
Kemp, R., & Martens, P. (2007). Sustainable Development: How to Manage Something That Is Subjective and Never Can Be Achieved ? Suatainability: Science, Practice, & Policy, 3(2), 1–10. http://doi.org/10.1080/15487733.2007.11907997
Kohlhepp, D. B. (2018). The Real Estate Development Matrix Presented at The American Real Estate Society Meetings.
Localism Act 2011 (2011). Retrieved from http://www.legislation.gov.uk/ukpga/2011/20/pdfs/ukpga_20110020_en.pdf
Lombardi, D. R., Porter, L., Barber, A., & Rogers, C. D. F. (2010). Conceptualising Sustainability in UK Urban Regeneration: A Discursive Formation. Urban Studies, (March 2016), 1–24. http://doi.org/10.1177/0042098009360690
Lowndes, V. (2010). The institutional approach. In D. Marsh & G. Stoker (Eds.), Theories and methods in political science. Basingstoke: Palgrave.
Massey, D., & Catalano, A. (1978). Capital and Land. London: Edward Arnold.
Matutinović, I. (2007). An Institutional Approach to Sustainability : Historical Interplay of Worldviews, Institutions and Technology. Journal of Economic Issues, XLI(December 2007), 4. http://doi.org/10.1080/00213624.2007.11507089
Miles, M. ., Berens, G., Weiss, M. ., & Urban Land Institute. (1996). Real Estate Development: Principles and process. Washington: Urban Land Institute.
Næss, P. (2001). Urban Planning and Sustainable Development. European Planning Studies, 9(4), 503–524. http://doi.org/10.1080/09654310120049871
Özkaynak, B., Devine, P., & Rigby, D. (2014). Operationalising Strong Sustainability : Definitions , Methodologies and Outcomes. Environmental Val, 13, 279–303.
Pearce, D., Markandya, A., & Barbier, E. B. (1989). Blueprint for a Green Economy Submission to the Shadow Cabinet Quality of Life Policy Group. Routledge. http://doi.org/10.4324/9780203097298
Ramasubramanian, L. (2010). Geographic information science and public participation. Springer Science & Business Media.
Ratcliffe, J., Stubbs, M., & Shepherd, M. (2003). Urban planning and real estate development. London: Routledge.
Robinson, J. (2004). Squaring the circle? Some thoughts on the idea of sustainable development. Ecological Economics, 48, 369–384. http://doi.org/10.1016/j.ecolecon.2003.10.017
Šaparauskas, J., & Turskis, Z. (2006). Evaluation of construction sustainability by multiple criteria methods. Technological and Economic Development of Economy, XII(4), 321–326.
Schreurs, J., & Moulaert, F. (2014). Planning for sustainable development: lost in space? In Spatial Planning in Flanders/Belgium: challenges for policy, opportunities for society.
Squires, G., & Heurkens, E. (2014). International Approaches to Real Estate Development. London: Routledge.
Tranfield, D., Denyer, D., & Smart, P. (2003). Towards a Methodology for Developing Evidence-Informed Management Knowledge by Means of Systematic Review *. British Journal of Managementurnal of Management, 14, 207–222.
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United Nations, Department of Economic and Social Affairs, & Population Division. (2014). World Urbanization Prospects: The 2014 revision, Highlight. New York.
Victor, L. (2008). Systematic reviewing. Social Research Update, (54).
Vos, R. O. (2007). Defining sustainability : a conceptual orientation. Journal of Chemical Technology and Biotechnology, 82, 334–339. http://doi.org/10.1002/jctb
Voss, J. P., Bauknecht, D., & Kemp, R. (2007). Reflexive governance for sustainable development. Edward Elgar Publishing.
Walker, S. (2012). Sustainable by design: Explorations in theory and practice. London: Routledge.
Wood, B. (2005). Towards innovative building maintenance. Structural Survey, 23(4), 291–297. http://doi.org/10.1108/02630800510630466
World Commision on Environment Development. (1987). Our Common Future. New York: Oxford University Press.
Adams, D., & Tiesdell, S. (2012). Shaping places: urban planning, design and development. London: Routledge.
Amborse, P. (1986). Whatever Happened to Planning? London: Methuen.
Bagheri, A., & Hjorth, P. (2007). Planning for Sustainable Development: A Paradigm Shift Towards a Process-Based Approach. Sustainable Development, 15(October 2006), 83–96.
Ball, M. (1983). Housing Policy and Economic Power. London: Mathuen.
Berrang-ford, L., Pearce, T., & Ford, J. D. (2015). Systematic review approaches for climate change adaptation research. Regional Environmental Change, 15(2), 83–96. http://doi.org/10.1007/s10113-014-0708-7
Blewitt, J. (2014). Understanding sustainable development. London: Routledge.
Boddy, M. (1981). The property sector in late capitalism: the case of Britain, in Urbanization and Urban Planning in Capitalist Society. In M. Dear & A. J. Scott (Eds.), Urbanization and Urban Planning in Capitalist Society. London: Routledge.
Bowler, D. E., Buyung-ali, L., Knight, T. M., & Pullin, A. S. (2010). Landscape and Urban Planning Urban greening to cool towns and cities : A systematic review of the empirical evidence. Landscape and Urban Planning, 97(3), 147–155. http://doi.org/10.1016/j.landurbplan.2010.05.006
Bryman, A. (2012). Social Research Methods (Fourth Edi). Oxford: Oxford University Press.
Cadman, D., & Austin-Crowe, L. (1978). Property Development. London: E. & F. N. Spon.
Cassam, Q. (2009). Can the concept of knowledge be analysed? In P. Greenough & D. Pritchard (Eds.), Williamson on Knowledge. Oxford: Oxford University Press.
Checker, M. (2011). Wiped Out by the “Greenwaveâ€: Environmental Gentrification and the Paradoxical Politics of Urban Sustainability. City & Society, 23(2), 210–229. http://doi.org/10.1111/j.1548-744X.2011.01063.x.I
Chiu, R. L. H. (2004). Socioâ€cultural sustainability of housing: a conceptual exploration. Housing, Theory and Society, 21(2), 65–76.
Costanza, R., Cumberland, J. ., Daly, H., Goodland, R., & Norgaard, R. B. (1997). An introduction to ecological economics. An introduction to ecological economics.
Costanza, R., & Patten, B. C. (1995). Defining and predicting sustainability. Ecological Economics, 15, 193–196.
Craven, E. A. (1969). Private residential expansion in Kent 1956-1964: a study of pattern and process in urban growth. Urban Studies1, 6, 1–16.
Curran, W., & Hamilton, T. (2012). Local Environment: The International Journal of Justice and Sustainability. Local Environment, 17(9), 1027–1042.
Doak, J., & Karadimitriou, N. (2007). ( Re ) development , Complexity and Networks: A Framework for Research. Urban Studies, 44(2), 209–229.
Drewett, R. (1973). The developers: decision process. In P. Hall (Ed.), The Containment of Urban England. London: Allen and Unwin.
European Union. (2004). Urban Desig for Sustainability. Final Report of the Working Group on Urban Design for Sustainability to the European Union Expert Group on the Urban Environment. Vienna: Austrian Federal Ministry of Agriculture, Forestry, Environment and Water Management.
Filho, W. L. (2000). Dealing with misconceptions on the concept of sustainability. International Journal of Sustainability in Higher Education, 1(1), 9–19.
Giddens, A. (1984). The constitution of society: Introduction of the theory of structuration. Berkeley. Retrieved from http://scholar.google.com/scholar?start=20&q=giddens+structuration&hl=en&as_sdt=0,5#17
GlaviÄ, P., & Lukman, R. (2007). Review of sustainability terms and their definitions. Journal of Cleaner Production, 15, 1875–1885.
Gottdiener, M. (1994). Semiotics and postmodernism. In D. R. Dickens & A. Fontana (Eds.), Postmodernism and social inquiry. Guilford Publications.
Hägerstrand, T. (1976). Innovation as a spatial process. IL: University of Chicago Press.
Harvey, D. (1982). The Limits to Capital. London: Blackwells.
Harvey, D. (1985). The Urbanisation of Capital. London: Blackwells.
Healey, P. (1991). Models of the development process : A review. Journal of Property Research1, 8(3), 219–238.
Healey, P. (1992). An institutional model of the development process. Journal of Property Research, 9(1), 33–44. http://doi.org/10.1080/09599919208724049
Healey, P. (1999). Institutionalist Analysis, Communicative Planning, Shaping Places. Journal of Planning Education and Research, 19, 111–121. http://doi.org/10.1177/0739456X9901900201
Healy, P. (2007). Urban complexity and spatial strategies: towards a relational planning for our times. London: Routledge.
Holland, S., Ott, S. H., & Riddiough, T. J. (2002). The role of uncertainty in investment: An examination of competing investment (Vol. 4307). Massachusetts: Massachusetts Institute of Technology.
Horton, J., Hadfield-Hill, S., & Kraftl, P. (2015). Children living with “sustainable†urban architectures. Environment and Planning A, (47), 903–921. http://doi.org/10.1068/a140401p
Kaiser, E. J., & Weiss, S. F. (1970). Public Policy and The Residential Development Process. Journal of the American Institute of Planners, 36(1), 30–37. http://doi.org/10.1080/01944367008977277
Kauko, T. (2017). Pricing and Sustainability of Urban Real Estate. London: Routledge.
Kemp, R., & Martens, P. (2007). Sustainable Development: How to Manage Something That Is Subjective and Never Can Be Achieved ? Suatainability: Science, Practice, & Policy, 3(2), 1–10. http://doi.org/10.1080/15487733.2007.11907997
Kohlhepp, D. B. (2018). The Real Estate Development Matrix Presented at The American Real Estate Society Meetings.
Localism Act 2011 (2011). Retrieved from http://www.legislation.gov.uk/ukpga/2011/20/pdfs/ukpga_20110020_en.pdf
Lombardi, D. R., Porter, L., Barber, A., & Rogers, C. D. F. (2010). Conceptualising Sustainability in UK Urban Regeneration: A Discursive Formation. Urban Studies, (March 2016), 1–24. http://doi.org/10.1177/0042098009360690
Lowndes, V. (2010). The institutional approach. In D. Marsh & G. Stoker (Eds.), Theories and methods in political science. Basingstoke: Palgrave.
Massey, D., & Catalano, A. (1978). Capital and Land. London: Edward Arnold.
Matutinović, I. (2007). An Institutional Approach to Sustainability : Historical Interplay of Worldviews, Institutions and Technology. Journal of Economic Issues, XLI(December 2007), 4. http://doi.org/10.1080/00213624.2007.11507089
Miles, M. ., Berens, G., Weiss, M. ., & Urban Land Institute. (1996). Real Estate Development: Principles and process. Washington: Urban Land Institute.
Næss, P. (2001). Urban Planning and Sustainable Development. European Planning Studies, 9(4), 503–524. http://doi.org/10.1080/09654310120049871
Özkaynak, B., Devine, P., & Rigby, D. (2014). Operationalising Strong Sustainability : Definitions , Methodologies and Outcomes. Environmental Val, 13, 279–303.
Pearce, D., Markandya, A., & Barbier, E. B. (1989). Blueprint for a Green Economy Submission to the Shadow Cabinet Quality of Life Policy Group. Routledge. http://doi.org/10.4324/9780203097298
Ramasubramanian, L. (2010). Geographic information science and public participation. Springer Science & Business Media.
Ratcliffe, J., Stubbs, M., & Shepherd, M. (2003). Urban planning and real estate development. London: Routledge.
Robinson, J. (2004). Squaring the circle? Some thoughts on the idea of sustainable development. Ecological Economics, 48, 369–384. http://doi.org/10.1016/j.ecolecon.2003.10.017
Šaparauskas, J., & Turskis, Z. (2006). Evaluation of construction sustainability by multiple criteria methods. Technological and Economic Development of Economy, XII(4), 321–326.
Schreurs, J., & Moulaert, F. (2014). Planning for sustainable development: lost in space? In Spatial Planning in Flanders/Belgium: challenges for policy, opportunities for society.
Squires, G., & Heurkens, E. (2014). International Approaches to Real Estate Development. London: Routledge.
Tranfield, D., Denyer, D., & Smart, P. (2003). Towards a Methodology for Developing Evidence-Informed Management Knowledge by Means of Systematic Review *. British Journal of Managementurnal of Management, 14, 207–222.
United Nations. (2016). Sustainable Development Goals. https://www.un.org/sustainabledevelopment/sustainable-development-goals/.
United Nations, Department of Economic and Social Affairs, & Population Division. (2014). World Urbanization Prospects: The 2014 revision, Highlight. New York.
Victor, L. (2008). Systematic reviewing. Social Research Update, (54).
Vos, R. O. (2007). Defining sustainability : a conceptual orientation. Journal of Chemical Technology and Biotechnology, 82, 334–339. http://doi.org/10.1002/jctb
Voss, J. P., Bauknecht, D., & Kemp, R. (2007). Reflexive governance for sustainable development. Edward Elgar Publishing.
Walker, S. (2012). Sustainable by design: Explorations in theory and practice. London: Routledge.
Wood, B. (2005). Towards innovative building maintenance. Structural Survey, 23(4), 291–297. http://doi.org/10.1108/02630800510630466
World Commision on Environment Development. (1987). Our Common Future. New York: Oxford University Press.