Comparative Study of Urban Regeneration in the United States and South Korea: Philadelphia BIDs

The Atlantic Yards project underscores the complexity and potential of large-scale urban regeneration initiatives. Key lessons from this project include the importance of robust public-private partnerships, flexible financial structures, and the need for strong community engagement. The use of eminent domain and PILOT bonds, while controversial, were pivotal in advancing the project. However, the delays and financial setbacks illustrate the need for adaptable planning and the capacity to navigate legal and economic challenges.

For urban regeneration projects in South Korea, the Atlantic Yards case study highlights the significance of integrating community benefits, such as affordable housing and public amenities, into development plans. Additionally, it emphasizes the value of aligning economic incentives with long-term urban development goals to ensure sustainability and public support. The experiences from Atlantic Yards can inform strategies for managing urban growth and enhancing the livability of cities through comprehensive and inclusive regeneration efforts.