Thesis (M.S.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 1986. / MICROFICHE COPY AVAILABLE IN ARCHIVES AND ROTCH. / The title: Alternative financing techniques for real estate in the United Kingdom, appears in the Massachusetts Institute of Technology Graduate List for September 1986. / Bibliography: leaf 64. / by Patricia Ann Haley. / M.S.

Thesis (M.C.P.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 2013. / Cataloged from PDF version of thesis. / Includes bibliographical references (p. [333]-341). / A federal-local partnership supports the creation of most new affordable housing in the United States. Washington's subsidies, which fund housing construction, vouchers, and tax credits, are paired with local development groups, which select sites, design projects, and manage operations. Yet for decades, despite their elevated status in the American federal system, state governments have all but abdicated responsibility for the direct production of affordable housing. Partly as a consequence, cities remain without adequate resources to address the dwelling needs of their poorest residents, and many suburbs have chosen to isolate themselves from the problem entirely. Between 1968 and 1975, however, New York State broke the mold by investing considerable resources in the Urban Development Corporation (UDC), a state-run builder that completed over 30,000 apartments for low- and moderate-income households. While contemporary government developers, following the "urban renewal" script, often built monofunctional, architecturally bland, public-finance-only apartment blocks confined to the limits of the inner city, the UDC operated at a statewide scale and constructed mixed-use and distinctively designed structures with the aid of private investment. As such, the agency provides historical evidence of a public sector entity responding to criticisms of previous government housing by innovating in terms of planning, design, and finance. This thesis offers insight into the conditions that influenced the UDC's development approach. Its example constitutes a "usable past" that can inform contemporary struggles to create affordable housing by documenting a potential role for the state in the production process. The agency built more housing, with designs more sensitive to their surroundings, than urban municipal authorities. In the suburbs, the UDC's unique political powers allowed it to address housing needs at the metropolitan scale. In three new communities, the agency articulated a vision of all-purpose developments with populations integrated by class. In all environments, the UDC reformed the government's approach to affordable housing construction-and it did so thanks to the powers it had been granted as a state agency. The agency's extraordinary productivity-combined with its unique approach-is indicative of the value of evaluating the UDC's methods if the goal is to expand the production of affordable housing. The political powers provided to the agency, particularly those that allowed it to override local governments, develop significant efficiencies of scale, and focus on the housing demands of the neediest portion of the population, offer a template for state governments today. Faced with continued challenges to access to quality, reasonably priced housing in many of the nation's metropolitan areas, the UDC demonstrates how a state housing development agency with adequate powers could operate and what benefits it would provide. / by Yonah Freemark. / M.C.P.

Thesis (M.C.P.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 1996. / Includes bibliographical references (leaves 99-103). / by Rido Matari Ichwan. / M.C.P.

Thesis (M.C.P.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 2007. / This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections. / Includes bibliographical references. / A density bonus, also called incentive zoning, is a conditional liberalization of zoning regulations, allowing a real estate development to exceed as-of-right density limits in exchange for the in-kind provision or purchase of a public amenity, often affordable housing or public open space. I explore employing LEED certification, an increasingly well-known proxy for environmental quality, as the density bonus amenity. In theory, the idea is to link profitable real estate development with environmental sustainability. In practice, my primary interest is in the tradeoffs between the perceived burdens of greater density and the potential benefits of enhanced environmental quality. I begin by examining the economic, public policy, and legal underpinnings of the density bonus idea, followed by a consideration of bonus calibration methods in current use, and determine that none adequately accounts for the public's valuation of density bonus amenities. In response, I explore the applicability of public valuation methods employed in the fields of environmental and real estate economics, before turning to scholarship on public participation for guidance. In the second section, with the fundamentals of incentive zoning better defined, I add LEED to the mix. / (cont.) Employing LEED as a bonus amenity/public benefit has the potential to yield, I argue, a closer alignment of the benefits and burdens of development by reducing the local, regional, and global environmental impacts of buildings. This promise, however, is realizable only with an appropriate deliberative process. To place my proposal in context, as well as introduce some of the many real world difficulties it would undoubtedly encounter, I examine a hypothetical LEED Density Bonus tailored to Boston's Fenway neighborhood and Boston's existing zoning and development review procedures. My specific target is the under-utilized, auto-oriented upper Boylston Street corridor, which has long been viewed as a planning challenge by the city and a burden by the adjacent Fenway neighborhood. I conclude by visually simulating the build-out of three different LEED bonus scenarios on Boylston Street. / by Joshua DeFlorio. / M.C.P.

Thesis (M.C.P.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 2008. / Includes bibliographical references (leaves 83-91). / The 21 st century is the age of culture. Cultural industry is rapidly internationalizing and a number of countries seeking a new source of economic growth are now turning their attention to cultural industries. In Asia, there is a phenomenon called the "Korean wave," which refers to the popularity of Korean pop culture in Asian countries since the late 1990s. Korea's cultural industry enjoyed rapid growth due to the rise of the Korean wave, and the popularity of Korean pop culture has benefited the country in a number of ways. However, the Korean wave appears to be ebbing in recent years and there are growing anti-Korea sentiments in countries like Japan and China. This thesis examines whether the Korean government's support in promoting the growth of the cultural industry has been effective and identifies the key driver industry that facilitated the rise of the Korean wave. Among the ten sectors designated as cultural industries by the Ministry of Culture and Tourism of Korea, I select three sectors for analysis: music, film, and broadcasting. Based on the export data from government agencies, it is predicted that the government support has had some positive effects on export growth in the film and the broadcasting sector, but not very much on that in the music sector. Also, it is likely that the key driver industry was the broadcasting industry, in which television dramas account for a large portion of exports. / by Kang Ah Park. / M.C.P.

Thesis (M.C.P.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 2011. / Page 119 blank. Cataloged from PDF version of thesis. / Includes bibliographical references (p. 110-118). / The terms "ivory tower" and "town-gown" have long been used to characterize the relationship between institutions of higher education and the communities in which they reside. While these adversarial phrases reflect the social and physical tension that has historically existed between the two groups, the terms are no longer appropriate as colleges and universities of today are more enlightened, realizing that as fixed and vested institutions, much of their success, and in some cases survival, is dependent on the health of the community in which they reside. The American college campus, where design decisions have come about as a means to engender community and promote learning, is a physical manifestation of the institutional mission and purpose. Therefore, as institutions look beyond their campus edges to consciously engage with their larger community, a shift in the physical representation should follow. In this thesis, I examine the evolution of a new physical form that reflects this changing dynamic by exploring the alignment of the institution's mission to the design and development of the campus edge, where this relationship is most evident. Based on a review of current campus conditions, I develop a sequence of edge conditions based on permeability and relationship between campus and community. I then focus on urban institutions in marginalized neighborhoods that have expanded their mission by embracing their urban setting and engaging with their communities in comprehensive revitalization initiatives. Using two case studies, Clark University and Trinity College, and drawing briefly on several other examples, I consider the relationship between the current and historical mission of the institution and the impact their recent neighborhood revitalization efforts have had on the physical transformation of the campus edges. Applying lessons learned from these efforts, I encourage colleges and universities to reconsider the value of their edges and promote them as an integral part of the overall campus. Finally, I make recommendations to help institutions rethink their campus edges in a way that embraces the evolving community-university dynamic and contributes to the well-being of both their students and surrounding neighborhood. / by Anne Bowman. / M.C.P.

Thesis (M.C.P.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 1996. / Includes bibliographical references (leaves 66-70). / by Jorgette Theophilis. / M.C.P.

Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 2001. / Includes bibliographical references (leaves 59-60). / After the economic bubble burst, the Japanese economy has been inactive over the past ten years. Land price has dropped drastically and Japanese commercial banks have a huge amount of NPLs. Many borrowers have over-borrowed and some of them have declared bankruptcy. Banks cannot make loans actively and many companies suffer from lack of capital. In this situation, many people strongly hope for the development of the Japanese Commercial Real Estate Debt Security market, where companies and banks can get capital directly from the capital market. The value of Japanese real estate is huge, US$23 trillion, and whether the real estate market will become active again or not strongly affects whether the Japanese economy will begin to expand again. The unique finance and real estate systems in Japan have created the specialized Japanese Commercial Real Estate Security market. This thesis analyzes this emerging market especially for the purpose of helping investors who are familiar with the U.S. Commercial Real Estate Debt Securities to invest in the Japanese Commercial Real Estate Debt Securities. This thesis consists of three main parts. First, we explain the current conditions of the U.S. and Japanese real estate finance fields. Second, we analyze the Japanese Commercial Real Estate Debt Security market compared to the U.S. market. In order to better understand the market, we also analyze the unique Japanese financial and real estate systems. Finally, we show several case studies, where we try to verify the arguments of the first two parts by analyzing three Japanese deals and comparing each to their matching US deals. We also try to explain reasons for features of the Japanese market and mention issues for this market to further develop. This study would not have been possible without the support of players who work on the front lines and many of our colleagues. The players not only provided us with data and knowledge but also shared thought provoking insights. Many colleagues provided important leads to information and materials. We thank them and greatly appreciate their efforts. Finally, we owe great thanks to Professor Timothy Riddiough who patiently advised and helped us immensely. / by Young Keun Won and Takuji Masuko. / S.M.

Thesis (M.C.P.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 2011. / Cataloged from PDF version of thesis. / Includes bibliographical references (p. 84-94). / In Japan, recent changes in socio-economic and political structures -- decreasing tax revenue, declining communication among community members, and privatization of public services-- have influenced existing maintenance systems initiated by the public sector. In this study, I examine maintenance systems of green spaces, identify the limits and possibilities of these practices, and conduct a literature review of US and UK cases to obtain some ideas for future practices in Japan. The current Japanese practices aim to utilize the resources which had not been fully integrated with existing maintenance systems, such as private corporations and community and volunteer groups. The case studies clarified three keys for making these practices sustainable: long-term strategies, self-sustained volunteer and community activities, and multiple funding streams. In the circumstance where the public sector suffers long-lasting financial hardship, these practices need to be developed further. To apply a model of green space maintenance in one country to other countries is not easy because cultural, social and political differences have significant impacts. Both in the UK and the US practices show the importance and difficulties of approaching multiple and sustainable funding streams. However, despite the differences of backgrounds, especially of donation culture, the approaches found in the US practices -- public and private partnerships for creating long-term strategy, helping community activities become self-sustained, developing public outreach-- would help Japanese to further its efforts to establish a sustainable system for green space maintenance. / by Wataru Nomura. / M.C.P.

Thesis (M.C.P.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 2003. / This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections. / Includes bibliographical references. / Conventional wisdom in the water and sanitation sector holds that it is difficult to make simultaneous headway towards both cost recovery and serving the poor. The case of Durban, South Africa, is often held to be one of the few examples where significant progress towards both of these ends has been achieved. This thesis asks, to what extent Durban has actually been able to recover costs and meet the needs of the poor and examines how gains in these areas, if any, have been achieved. This thesis indicates that eThekwini Water Services (EWS), the Durban water and sanitation service provider, has had mixed success in achieving cost recovery. The agency's Water Department has moved towards improved cost recovery since 1994/95. Cost recovery for water supply in Durban is on par with benchmarks set by top-tier African providers but still remains well below standards established by American private sector providers. In the Wastewater Department, however, growing annual deficits have been recorded in every year from 1994/95 to 2002/03. This thesis shows that the technological and policy innovations implemented by EWS have increased water and sanitation coverage for the poor in Durban. Durban's free basic water policy, in which each household receives 6 kL of water free per month, has been in part responsible for these gains. At the same time, while connectivity has increased, the rate of service disconnections has risen over the period 1994/95 to 2002/03. As well, tariffs have risen for levels of consumption above 6 kL per month. Both of these factors negatively affect poor households, especially those that are large, and temper the gains otherwise made in connectivity. The dynamic relationship between EWS' cost recovery strategies and efforts to serve the poor is central to understanding the Durban case. The agency recognized from an early point that it was financially prudent not to charge for low volumes of water. This recognition, combined with a need to make cost recovery palatable to the public and elected representatives, made provision of the 6 kL lifeline volume an extremely attractive policy option for EWS. However, the fact that EWS' efforts to achieve cost recovery are so intimately connected with the agency's strategies for serving the poor is the primary reason that the gains EWS has achieved are contested. Furthermore, the fact that the Durban model for achieving cost recovery and serving the poor is so dependent on local administrative capacity and efficiency limits its application more widely. The case should be instructive, however, for advocates for the poor who wish to understand how the rhetoric and complex politics of cost recovery and serving the poor are becoming ever more entwined. / by Michael Craig Hooper. / M.C.P.