A Study of Green Infrastructure on Economic Value Assessment of Urban Renewals

• Main Authors: CHAO, JEN-CHIH, 趙仁志
• Other Authors: HSU, KUO-WEI
• Format: Others
• Language: zh-TW
• Published: 2019
• Online Access: http://ndltd.ncl.edu.tw/handle/3a9nee

博士 === 朝陽科技大學 === 建築系建築及都市設計碩博士班 === 107 === Taiwan’s policymakers have consistently favored urban-renewal initiatives over the past two decades, and the theory of this redevelopment strategy has been widely discussed by scholars. Alongside this process, older urban areas of Taiwan have been facing increased earthquake risks as well as flooding and other problems related to climate change. As the costs of such risks spiral upwards, green infrastructure – which emphasizes coordination and mutual benefit between human development and the natural environment – is an increasingly central topic in public discourse. The specific sphere of planning for disaster mitigation now includes the calculation of economic values, e.g., for urban renewal’s financial return on investment; and often, the future economic benefits associated with urban renewal-driven business development have emerged as decisive in discussions of the application of green infrastructure to urban areas. As well as the direct financial benefits of green infrastructure, however, it is possible to assess its indirect ones, such as improving the residents’ quality of life, e.g., by adding green space, and boosting urban disaster preparedness. This study explores the economic value of green infrastructure within urban-renewal projects via a review of key theories and other relevant literature, secondary data analysis, green-infrastructure assessment, and risk values. This will involve the collection of urban renewal’s economic value impact factors, both substantive and non-substantive. In the substantive facet, this will include land use value, i.e., the values of land and property and local business opportunities. The intangible facet, on the other hand, comprises the value associated with energy conservation and urban disaster prevention: specifically, reducing 1） energy use, 2） carbon emissions, 3） disaster probability, and 4） disaster impact. The paper will explore the impact of green infrastructure on the economic value of urban renewal, calculated as V^=(I+（I_1+I_2+I_3+I_4）)/(〖R-（R〗_1+R_2）)-I/R-C, as well as on business net income and risk. Finally, the paper discusses the case of green infrastructure construction in Taichung City’s Central District, and in particular, Taichung City Station special area, in terms of the economic added value of the urban renewal of the buildings and the green construction techniques, the aggregate cost of both these initiatives being NT$275.5 million. In terms of land use value, energy conservation value, and urban-disaster prevention value, the annual economic added value difference is computed as NT$357.9 million, meaning that its immediate cost can be recovered over approximately eight years. In short, the study indicates that while green infrastructure in the context of urban renewal requires a high initial outlay, it can in the long run create higher economic added across multiple dimensions.