Integrated and Sustainable Territorial Development as an Efficient Tool for Urban Renewal

Abstract

This paper analyzes such concepts as ‘integrated property development’ and ‘sustainable development’ and how they apply to urban territories. The authors hereof analyze the basic components of integrated and sustainable territorial development, which includes master planning, renewal of developed areas, and integrated territorial development. The paper structures the problematic urban areas and notes that each type of inefficiently utilized urban areas requires a specific transformation mechanism. It proves that applying integrated and sustainable development tools helps attract more investment, transform the fabric of the city, and improve the urban environment.