Abstract
The spectacular property boom and the subsequent bust provide the key contexts for the rise and fall of public-private partnerships (PPPs) as a vehicle to regenerate social housing estates. Over the course of the property boom essentially the period from 1996 to 2007, new house prices increased by 270 per cent nationally and by 329 per cent in Dublin in nominal terms. In the second-hand market, prices increased to a greater extent, by 341 per cent nationally and by 375 per cent in Dublin (DoECLG,1 2013). However, since 2007 prices have fallen by over 50 per cent, making this one of the most pronounced booms and busts in Europe (Central Statistics Office, 2013). One of the many effects of a rapidly rising housing market was that land prices also rose quickly and, more importantly, land values in areas not previously considered appropriate for development, also increased. As part of a general shift in urban and housing policy towards entrepreneurial approaches (McGuirk and MacLaran, 2001; MacLaran and Williams, 2003), Dublin City Council (DCC) decided to regenerate a number of inner city flats (apart ment) complexes in Dublin using the leverage of these increasing land values.
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© 2014 Rory Hearne and Declan Redmond
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Hearne, R., Redmond, D. (2014). The Collapse of PPPs: Prospects for Social Housing Regeneration after the Crash. In: MacLaran, A., Kelly, S. (eds) Neoliberal Urban Policy and the Transformation of the City. Palgrave Macmillan, London. https://doi.org/10.1057/9781137377050_14
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DOI: https://doi.org/10.1057/9781137377050_14
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