Explaining Value Capture Implementation in New York, London, and Copenhagen: Negotiating Distributional Effects

van Zoest, S.P.; Daamen, T.A.

doi:10.1177/10780874231222174

Explaining Value Capture Implementation in New York, London, and Copenhagen

Title

Explaining Value Capture Implementation in New York, London, and Copenhagen: Negotiating Distributional Effects

Author

van Zoest, S.P. (TU Delft Practice Chair Urban Area Development)
Daamen, T.A. (TU Delft Urban Development Management)

Date

2024

Abstract

Value capture (VC) is widely cited as a method for local authorities to provide urban public goods to their cities in the face of fiscal stress. Its application in practice however remains limited. In this article, we aim to explain the implementation process of VC as a strategy to fund public transportation infrastructure through case studies in London, New York, and Copenhagen. Adopting a theory of gradual institutional change, we argue that the implementation of VC depends on the capacity to change distributional institutions that are inherently contested. Particularly relevant is the role of the beneficiary, whose support of VC is necessary but not likely. Our results show that a strategic urban development project can act as a driver to overcome this barrier, but that this driver can, simultaneously, also hinder the institutionalization potential of a VC strategy. We therefore suggest that, for VC strategies to become more commonplace, sharing value uplifts among beneficiaries must become more commonplace too.

Subject

institutional change
physical infrastructure
urban development
urban public policies
value capture

To reference this document use:

http://resolver.tudelft.nl/uuid:e75da446-5b4a-4de6-9867-176a6d4e5037

DOI

https://doi.org/10.1177/10780874231222174

ISSN

1078-0874

Source

Urban Affairs Review

Bibliographical note

Online First version.