Urban Regeneration - Property Led Regeneration, London Docklands Case Study

Urban Regeneration is the recreation or improvement of an area experiencing urban decline.
The main types of urban regeneration are:

• Property led regeneration - large scale investment programs ie. London Docklands
• Partnership schemes (City Challenge) - Schemes between local and national government. (Imaginative local projects that aid regeneration bid against each other for funding from the government) 
• flagship projects - a significant, high profile investment that will become a catalyst for regeneration
• sustainable communities - places where people want to work and live now and in the future ie. BedZed, London
• Gentrification - the process of which run down housing is done up by wealthy individuals and a snowball effect occurs.

Property Led Regeneration - London Docklands

Urban development corporations (UDCs) was a scheme set up in the 80's that would aid in regeneration. These huge scale schemes completely redevelop areas with the goal of lifting an area out of urban decline. They have power above the local authorities and focus on the physical, social and economic regeneration. An example of a UDC is the LDDC (London docklands development corporation) set up in 1981. 

During the 19th century the London Docklands was one of the busiest places in the world. It was home to one of the main ports. However by the end of the 1950's the area had seen massive levels of urban decline, this was due to:

1. Increase in ship size meant they could no longer fit ships down the river Thames to the Isle Of Dogs.
2. Containerization caused structural unemployment as fewer dockers were needed.
3. Damage from the war

The area became derelict and run down, there was an increase in unemployment and there was a lack of public transport. By 1981 80% of people were living in poor quality housing and people were also leaving the area with on average a decline of 30% of the population.

In 1981 the LDDC was set up in order to reverse the decline and regenerate the area. It has resulted in major developments in and around canary wharf. They attracted £10 of private investment for every £1 they spent. The area became the first enterprise zone and overall there was £7.7 billion of private investment and that is still increasing. The regeneration has had many positive benefits that include:

• Social - 120,000 new jobs created
• Social - 8000 homes refurbished and 25,000 new homes
• Social - New national indoor sports centre
• Economic - Unemployment went from 14% to 7%
• Economic - Canary Wharf is now one of main financial centres in the world and attracts lots of FDI
• Environmental - 160,000 new trees planted
• Environmental - network of pedestrian and cycle routes

Successes of the LDDC:

There was a clear increase in trade for the local shopkeepers as more people have job and therefore more people can spend on the economy, this boosts the local economy even more (multiplier effect). Lots of FDI from new buildings and projects. A wide range of benefits (see above).

However there have been criticisms of the developments:

• many locals have been displaced and cannot afford to live in the area anymore
• structural unemployment from the old dockers who are unable to work in skilled jobs
• reduction in community spirit, tensions between newcomers and old eastenders.

Overall I think it is fair to say that the regeneration has been a success.