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Public space & urban renewal
- Act as a catalyst for inner city and urban regeneration by increasing surrounding land values. Public space is an important tool for improving less developed urban areas and should be included in cities’ urban expansion plans.
- Public space development provides great opportunities for cities to renew deteriorated urban areas. Urban renewal projects offer the opportunity to improve the supply of urban spaces and offer greater opportunities for citizens to exercise their social and economic rights.
- The use of public space development as a catalyst for the enhancement of key areas in the city as well as adding economic value to the city
- EXAMPLE: JESSICA EU funding program
JESSICA (Joint European Support for Sustainable Investment in City Areas) is an initiative of the European Commission developed with the European Investment Bank and the Council of Europe Development Bank to support urban development projects. JESSICA was set up in 2007 to 2013