A framework for the better integration of the crucial economic factors of Sri Lankan urban renewal projects

Abstract

ABSTRACT Although urbanization can increase the prosperity and development of the urbanized communities, the planning, management and governance of these areas is often a struggle resulting in incomplete infrastructure, precarious urban settlements and environmental issues. This study, therefore, was focused on exploring the economic implications of urban renewal by identifying the economic factors that affect the planning and delivery of the associated projects. The study adopted an interpretive stance and the research strategies used were a survey and three case studies. A pilot study was first done and it was followed by case studies. The cases were selected using judgmental sampling and represented the subsystems of urban renewal. The data collected using semi-structured interviews were analysed by comparing with a pattern of impacts developed using literature findings. The study identified the strengths, weaknesses and the areas that can be improved in urban renewal proposals. The findings including were identified under four categories: regional economy, demography, real estate market and transportation economy. The weaknesses of the projects and the strategies that can mitigate them were also identified. A framework that can be used to screen and select new urban renewal proposals was finally developed based on the findings of the study.