FLAGSHIP DEVELOPMENTS AND THE PHYSICAL UPGRADING OF THE POST-SOCIALIST INNER CITY: THE GOLDEN ANGEL PROJECT IN PRAGUE

Over the past few decades many urban leaders have searched for an appropriate policy response to tackle urban decay. Various kinds of flagship projects emerged in many cities as the products of a property‐led approach to the regeneration strategies adopted by local governments in North American and European cities. It was expected that the creation of high‐profile milieux would launch chain reactions which would eventually lead to the regeneration of declining neighbourhoods. The focus of this study lies in the anatomy of physical transformation in an inner city neighbourhood within the context of post‐socialist transition. In particular, the paper discusses the flagship role of the Golden Angel commercial centre in the physical upgrading of the Smíchov district in Prague. The case study contributes to the understanding of complex circumstances and mechanisms of revitalization in the post‐socialist inner city. The empirical material is based on field observations, expert opinions and existing documents. The paper shows that a high‐profile project can be one of the driving forces in physical revitalization through the provision of symbolic power, credibility and appeal to a declining neighbourhood. At the same time, it is emphasize that physical transformation is a multi‐conditional and context‐related process rather than an automatic and straightforward outcome of flagship developments. Successful revitalization depends on a favourable constellation of various factors. On the local level, the key factors include the development potential of the location, the attitude of the local authorities and the commitment of all involved actors.     

Observation and assessment of local economic development with regard to the application of the local multiplier

This contribution deals with the observation and evaluation of the issues of local economic development with a focus on the relatively new method of the local multiplier LM3. The main objective of this article is to evaluate the application possibilities of selected tools for the analysis of local economic development, in order to verify the effectiveness of the methodology of the local multiplier LM3 and to discuss the possibilities of its practical use. This LM3 method is perceived to be one of the convenient methods on how to capture certain components of local economic development. This indicator of the power of local economies is verified within field research in two case studies conducted in the ?umava region in Southwest Bohemia. The added value of this contribution is both methodological and practical. Currently, there exist only very few studies using the LM3 method in the Czech Republic and they do not offer satisfying evaluation of possible broader use of this method in the area of local development in the specific Czech regions. Having summarized two new case studies, this article contributes to the methodological discussion of the LM method and includes concrete practical recommendations for future research and also practical use.