Contracting for Better Places: A Relational Analysis of Development Agreements in Urban Development Projects
Large-scale urban development projects aim to create better places in underused or deteriorated areas. For their realization, cooperation between planning authorities and market parties is indispensable. Contracting for Better Places focuses on the development agreements that these parties close. It follows from the relational contract theory that, as the projects evolve over time, these agreements have to promote relational values such as trust and flexibility. This work displays four interesting cases: Battery Park City and Hudson Yards (both in New York City), Zuidas (Amsterdam) and King's Cross (London). The content, meaning and function of real-life development agreements of these focal projects are studied and criticized. The conclusions have a case-specific as well as a more general character.
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Urban development projects and the problem of comparing contracts
Relational contract theory
Case study Battery Park City New York Plot 1617 The River House and 18b The Verdesian in Battery Park Citys North Residential Neighbourhood
Case Study Hudson Yards New York No 7 subway extension
Case Study Amsterdam Zuidas The Gershwin and Mahler4 projects
Kings Cross Regent Quarter London The Main Site
reflections on development agreements
Appendix A Examples of questions put to interviewees in case studies
Appendix B Case interviews
Appendix C Questions used as a basis for study of the written agreements
Comparative analysis of the cases on the basis of relational contract theory
ABN AMRO affordable housing Amsterdam approach Battery Park City Borough of Camden BPCA building Camden Council Chapter civil law common contract norms common law consortium construction context contract law contractual relation contractual solidarity cooperation council court development agreement discrete and relational discrete norm discussed Dutch economic effectuation of consent EJTDSFUF enhanced importance environmental example facilities flexibility focal projects focus function Gershwin goals Goldman Sachs Hudson Yards HYDC Ian Macneil infrastructure interview involved Javits Convention Center King’s Cross land lease rights legal system London Macneil Mahler4 ment million sq negotiations neighbourhood obligations office space ofthe overeenkomst PG UIF phase planning authority principle private parties problem promise propriety of means public parties realisation redevelopment relational contract theory relational norms residential space role integrity rules S106 agreement Section SFMBUJPOBM social specific station subway extension tenant tion transaction urban development projects York Zuidas