Every city has pockets of underused and underutilized land or distressed and decaying urban areas. These pockets of underused land weaken the city’s image, liveability, and productivity. They are usually the result of changes in the urban growth and productivity patterns.
To tackle the issues of decline and urban decay, these cities and others around the world have designed complex processes of urban regeneration. Rarely are urban regeneration projects implemented solely by the public sector. The need for massive financial resources is one factor. However, even if the government could provide the necessary resources for regenerating urban land, the buy-in from the community and business sector is needed to ensure the sustainability of regeneration efforts. Consequently, participation of the private sector is a determining factor in the success of regeneration of underutilized urban land.