In: Political geography: an interdisciplinary journal for all students of political studies with an interest in the geographical and spatial aspects, Band 89, S. 102433
The idea of 'crisis' plays an important role in academic and policy imaginations (Heslop and Ormerod, 2020), particularly since the global financial crisis. Across major western cities, at the same time as policy-makers have had to respond to 'the (economic) crisis', many have also experienced intense 'housing crises' and the acute divergence of average incomes and house prices. In response, cities such as London have become central sites in debates around housing acquisition by the ultra-wealthy, land value extraction and growing levels of unaf- fordability. However, much critical geography research on housing crises is state-centred or focused on civil society impacts, with relatively little reflection on the real estate sector and the work that crisis does as a narrative in shaping institutionalised and actor-centred practices. In this paper, we draw on in-depth research with de- velopers, investors, and advisors in London to argue that crisis-driven policy responses have created political risk which is differentially experienced by actors across the sector, with large housebuilders and advisors benefitting whilst smaller niche developers move out. Moreover, we show how consultants, investors and developers have used the crisis situation to create new geographies, products and investor types in the housing market. These, in turn, require regulatory support and demonstrate the inherently political nature of crisis narratives' use. We use the London case to broaden understandings of the impact that conceptualisations of 'crisis' have on urban and regional planning practices, and how these influence and shape processes of contemporary urban development.
This paper builds on policy mobility research to question how loosely deployed references to specific models or sites reveal how tacit and explicit knowledge are required to effectively replicate urban ideas in new places. Departing from existing analysis of policies and the public sector, we use policy mobility framing to critically engage with the strategies of the private sector. We analyse King's Cross' arrival in two large-scale redevelopments: Brussels' Tour and Taxis and Johannesburg's Modderfontein, questioning how it was referred to, the success of its deployment and the politics of urban learning. We draw three main conclusions: first, the comparison demonstrates private sector agency in their ability to shape the way expert knowledge arrives. Second, we argue that private sector actors require locally embedded practices and tacit knowledge to leverage international points of reference in their projects. Third, in placing the analytical gaze from the perspective of the project 'arriving' and adopting a specifically comparative approach, we reveal the myriad of possibilities developers and consultants face and the politics of what they pick from each. Theoretically, these conclusions draw from economic geography's politics of learning and mobility research to demonstrate the benefit of analysis that traces a project, rather an idea or a policy, and from 'arriving at' and the subsequent assembling of different project components.
In 2012, a Chinese developer, Zendai, purchased 1,600 hectares of land in Modderfontein, Johannesburg, and announced plans for a new urban megadevelopment. Hiring a Chinese designer, the company released a series of computer-generated images. Drawing on these, the media and many in the city perceived the site to be distinctly "Chinese," rooted in futuristic, speculative visions of urbanity. At the same time, African urban research turned its attention to similar large-scale projects throughout the continent, and has continued to speculate on their consequences. Building on these two different interpretations of Modderfontein, this paper engages with the site as a manifestation of both global trends (e.g., increasing Chinese engagement with Africa, urban inter-referencing throughout the Global South) and a reflection of place- and context-specific factors. In doing so, we focus on the ordinariness of the project to interrogate how the idea of creating an ultramodern global economic hub, rooted in the experiences and practices of a Chinese-based developer, was in the end mediated by the actions of international consultants and the City of Johannesburg. We suggest that Modderfontein should be seen as a generative form of urbanism where elements perceived to be Chinese were lost in the master planning process. We argue that the socio-material dimensions of the project instead reflect a distinctly South African urbanism. (China Perspect/GIGA)
We respond to the special issue's call for a multiscalar, historicised approach to state capitalism through an exploration of Sovereign Wealth Fund investment into London real estate. We point to how the UK's ostensibly market-led recovery since the 2008 financial crisis has relied in part on attracting 'patient' state capitalist investments. In this, we contextualise the relational regulation of real estate markets as the outcome of intersecting state projects by considering the investment motivations of the single largest owner of London real estate, the Qatari Investment Authority, and the utilisation of their investment by UK governance actors. Focusing on Qatari Investment Authority's involvement in London's Olympic Village, we highlight how this strategic coupling in the real estate market realised domestic and geopolitical aims for the Qataris while facilitating the UK government's strategy to ameliorate London's housing shortage by fostering a 'build to rent' asset class. In doing so, we contribute to readings of state capitalism as an 'uneven and combined' process beyond the traditional state/market binary by placing sovereign wealth fund investment into the context of city governance, the geopolitics of real estate and resultant relational forms of regulation.
In this paper we draw on the findings of a mixed methods research project that has examined the production, regulation, and delivery of housing in London. Our aim is to develop fresh insights into the growing mobilisation of numbers and targets in contemporary planning systems. More specifically, we bring two fields of literature into conversation. First, drawing on recent contributions from Pike et al. (2019) we develop their notion of 'city statecraft or the art of city government and management of state affairs and relations (p.79). We discuss how and why their framing of contemporary urban governance captures current trends in contemporary cities, including: the financialisation of housing and infrastructure; the rolling-out of delivery-focused public private partnerships; and the broader political projects that underpin planning priorities. The paper combines these insights with wider writings in urban studies on virtualism or the analysis of theories and governmental practices that seek to make the world conform to pre-existing ideas, rather than describing and explaining its formation. We argue that target-based forms of governance represent the implementation of a virtual statecraft in which the material realities of actual places become simulated worlds, ripe for calculation and re-making. We show, through in-depth research on housing regulation and investment/development trends in London, the ways in which virtual forms of statecraft are developed and implemented and with what effects on the material outcomes of urban development processes. The findings are of comparative significance as planning systems across Europe and beyond are becoming increasingly focused on market-oriented oriented forms of planning in an effort to boost the production of housing and to deliver social policy outcomes.