ABSTRACT
Strategic market transformation is intended to deliver development of a scale beyond that attainable by any single market actor or, indeed, any informal combination of actors. It can be deployed to create entirely new places or rescue places that have fallen into decline. These typically include significant urban expansions, major regeneration projects and comprehensive city-centre improvements, although its principles are more widely applicable. Strategic market transformation involves a ‘place production process’ that aims to generate and capture the added value that comes from comprehensive, well-planned and integrated approaches to development, as compared to those where the future of individual plots is each determined separately. 1 This makes sustainable development financially attractive, since the greater initial investment required in place-making creates the basis for higher long-term investment returns.
