New Century Cities Symposium
Real Estate Value in a Digital World
Smart Cities/Media Lab - DUSP - MIT/CRE Joint Research Initiative
January 18-19, 2005
This initiative brought to MIT a select group of thought-leaders from three synergistic communities: World cities that are implementing large-scale, technology-driven projects, advanced media and information technology firms; and real estate developers who are pioneering these kinds of developments. The symposium was designed to be an intimate workshop among these leaders to advance our knowledge and understanding of how such developments work, and how they create value for their sponsors and communities. This initiative should be of particular interest to the visionary developers of large-scale mixed-use projects throughout the world.
- Press release: New Century Cities emerge around the globe, February 2005
Symposium Objectives
- Building our collective knowledge about how a diversity of projects, implemented in different cultural and business environments, create social and economic value for their host cities and nations, and provide profit and other benefits to all partners in the development process. How is value created, who benefits, and who stands to lose in the process?
- Focusing our understanding of how the design and use of the city are changing as digital media and other telecommunications capabilities permeate everyday life and alter the fabric of our communities.
- Learning how to strengthen our ability to act through partnerships that extend beyond government and real estate developers to include IT and media firms, research and educational institutions, design firms, and community development groups in delivering innovative products.
- Considering scenarios under which these projects may develop in the future, and how lessons learned on the leading edge of practice may be adopted by the mainstream development community to facilitate other types of projects.
- Identifying the conditions necessary for successfully launching New Century City projects, the related opportunities these projects may present, e.g., capital markets opportunities, and the challenges of managing the risks of developing on the cutting edge.
- Symposium Agenda
- Symposium Gallery
Initiating Faculty
- William Mitchell, Head, Program in Media Arts and Sciences
- Tony Ciochetti, Chairman, Center for Real Estate
- David Geltner, Director, Center for Real Estate
- Dennis Frenchman, Director, City Design and Development Group, Dept. of Urban Studies and Planning
- Michael Joroff, Senior Lecturer, Department of Urban Studies and Planning
