도시재생사업의 지속가능성을 위한 재원조달 방안 연구: 지역리츠제 도입을 중심으로

Abstract

In Korea, the government has focused on new city development, redevelopment, and reconstruction policies to solve urban problems caused by industrialization and urbanization. However, as it was difficult to solve urban problems with the existing policies due to changes in the market environment and industrial structure, the government has introduced urban regeneration policies as new urban policies. Urban regeneration policy aims to restore the competitiveness of the city through the revitalization of the original city center. However, as a result of monitoring the performance of 2019 for 223 urban regeneration projects in May 2020, 71 projects were found to be insufficient, which means that the overall performance was sluggish. The reason why urban renewal promotion is insufficient is that the promotion and sustainability of urban regeneration projects are low due to the low economic feasibility of them. Therefore, it is necessary to review alternatives to enhance the sustainability of urban regeneration. To continuously promote urban regeneration projects, it is not dependent on one-time subsidies or budget, but a financing scheme is needed to expand the participation of residents and to be based on profits. To this end, we propose a regional REITs as a way to establish a virtuous cycle structure in which profits generated from regional urban regeneration projects are reinvested in regional urban regeneration projects through a financial model centered on local communities. In other words, regional REITs compensate for the unit project loss through profit-making projects. And it is possible to secure the sustainability of urban regeneration projects by reinvesting funds obtained from profitable projects or capital gains of selling assets into other regeneration projects.