Page 97 - JCAU-6-1

Journal of Chinese
Architecture and Urbanism Urban regeneration market mechanism research

Figure 4. Jinnovation Park, Haidian District, Beijing. Source: Drawings by the authors (Data in the figure are derived from interviews or project
introductions during our research investigation and do not necessarily represent the accurate final data); photos from the implementation entity

regeneration projects, which are of large scale and complex courtyard, the higher the rent level. Five of the six households
situation, involving different functional types of industries, living in the courtyard of this area chose to quit the lease
residences, facilities, and so on, and integrate multiple and live in an apartment in the suburbs, but the remaining
means of protection, repair, demolition, and construction one household was unwilling to move out of the city center.
to achieve comprehensive and sustainable development of Therefore, the platform company provided the household
urban areas. with a new dwelling in another courtyard, which is 120 m
The Caixi historic area project is located within the away from the current courtyard. The living area was not
“Historical and Cultural Essence District” of inner Beijing’s only expanded from the previous 15.6 sqm to 30 sqm but
Second Ring Road, covers an area of 6.5 hectares, and is also equipped with kitchen, toilet, and bathing facilities.
dominated by traditional Beijing courtyards. The Xicheng This solution has been approved by the family members
(Western) District Government authorized district state- of the household. The staff of the platform company said
owned enterprises Beijing Financial Street Investment that after the residents moved out, the courtyard could be
(Group) Co., Ltd. to set up a platform company called remodeled and rented out, and the rent could be increased
Beijing Jinhengfeng Urban Regeneration Asset Operation from the original 5–6 yuan/sqm/day to 12 yuan/sqm/day.
Management Co. The platform company was responsible In this way, the residents’ wishes and business objectives are
for the whole process of consultation of residents, realized at the same time.
planning, design, relocation compensation, construction
implementation, and operation services within the area. 4.4. Comparison
These courtyard houses of the residents who made in situ At this stage, three main governance structures have been
improvements at their own expense in the application for formed for market players to participate in Beijing’s urban
improvement still retained the residential function. For regeneration, applicable to different urban regeneration
residents who applied for rent cancellation or change, projects, with differences in the types of values, operating
the buildings and courtyards would be transformed into efficiency, and how benefits are distributed among different
business functions, such as long-term rental apartments, participants (Table 2).
cultural exhibitions, catering and commercial facilities,
and corporate headquarters, according to the situation. The The welfare guarantee-oriented governance structure is
platform company was authorized with a 50-year franchise mainly aimed at stimulating public value and welfare, and
of the traditional courtyards by the district government the government mainly invests in promoting and meeting
and gradually recovered the transformation costs and the needs of the residents in terms of service facilities,
gained revenue through the rental income of the business public space, and livelihood protection, while market
(Figure 5). In such projects, the more complete the leased players are responsible for the task of construction and

Volume 6 Issue 1 (2024) 9 https://doi.org/10.36922/jcau.0885