Report

Development corporations

This report from UK think tank City-REDI calls for a stronger evidence base to identify which models, powers and financing approaches work best in different circumstances.

This report provides a timely stocktake of how development corporations have been used across the UK, the emerging pipeline of new proposals, and the conditions likely to determine their future success. It reviews the experience of previous New Town Development Corporations, Urban Development Corporations and Mayoral Development Corporations, and considers recent and future expansion in the number of development corporations.

The report anticipates a substantial expansion in the use of development corporations, driven by new centrally led corporations in major growth areas, new town proposals, additional mayoral corporations, and the potential for locally led urban development corporations.

The report concludes that success will depend on development corporations having a clear and durable purpose, an appropriate geography, strong partnerships, substantial and predictable long-term funding, effective land value capture, skilled leadership and delivery teams, high-quality and inclusive placemaking, and legacy arrangements established from the outset. It also calls for a stronger evidence base to identify which models, powers and financing approaches work best in different circumstances.