Public Property Squandered by Cities - ULI

LONDON-The potential of public property to leverage economic development is too often squandered due to lack of a strategy by cities which are seeking to raise their rate of investment, says a new report from the Urban Land Institute Europe.

“Public land is potentially an underutilized resource, especially when public finances are tight,” says the report, based on conclusions of a workshop sponsored earlier this year by ULI Europe’s Urban Investment Network. “ULI’s reports play a key role in promoting the understanding of European city development dynamics, both for cities and for investors,” said ULI Europe Chairman Alexander Otto. “Public land in cities can be a great asset for urban investment, but it could also be a deterrent to investment if it is not used optimally.”