- What if much of the area of higher land values is an area of recognised special character that can’t easily be redeveloped?
- What if parts of the city with higher land values have got ageing infrastructure which cant cope with extra density, resources are limited and the infrastructure cant be replaced in the short term?
- How do you anticipate land values and associated density patterns 30 or 50 years out when you are spending billions of dollars re configuring a city’s transport infrastructure, like shifting from a motorway-based to transit-based transport system?
- What about equity of access to and equity of supply of public infrastructure.
Saving some heritage but not all implies - given a rising population and other pressures in the urban system - a reassessment every 20 years or so, with the likelihood that the heritage resource will get whittled away each time there is a reassessment.
Who should get upgraded infrastructure and who pays is complex in a city with a range of legacy issues, as well as new growth on the edge to support. User pays may help, but will not iron out all of the choices to be made about how to fix historical problems.
These days, big transport infrastructure is likely to require some form of public private partnership - the private sector part of the deal will be looking for certainty over demand and future revenue growth. In other words, they will want a more fixed land use pattern.
Equity is getting more and more important as the pace of change in urban areas heats up and there is a starker boundary between winners and losers.
Employment contracts can provide some restraint to knee jerk reactions. There is often redundancy to be paid out, as well as a notice period
There is, in theory at least, publicly funded re education to help workers learn new skills
Support for a long transition period (unemployment benefit)
Long term needs like the costs of retirement are covered by the state, taking some of the pressure off when jobs change.
- Prices can go up (or down) quickly
- Loss of heritage / local landmarks
- Reduction in the rental stock
- Displacement of lower income households
- Loss of older, cheaper workplaces.
- Loss of diversity of activities.