Development Finance and Funding Research Paper Example | Topics and Well Written Essays - 3000 words

Development Finance and Funding - Research Paper Example The city has diversified from office use; for instance, hotels and department stores have been opened (Adair and Norman 2005, p. 255). This study examines the parameters influencing the form and function of office buildings in the City of London and what effects are brought in terms of location decisions of businesses. Developments are underway, for instance, the Canary Wharf scheme which is believed to slow the demand that exists from within and outside the UK for high-quality office buildings and at a lower cost. In 1980s financial instruments were introduced to fund office developments as there was a high demand for new office space. The supply had been restricted by government policy and planning controls introduced in the previous years (Blackwell 2005). This brought about pressure for a realistic and flexible planning framework for office improvement. Richard (1973, p. 30) describes that Information Technology influenced the design and internal configuration of buildings needed. Competitiveness of financial centers depends on the ability to provide the right type of office building for global business. This aims at supporting sustainable growth and providing a high quality of life to citizens. The issue is to make London a low carbon city through the provision of spaces and places to live and work. Investments are targeted through design-led regeneration plans which tend to combine environmental, housing and transport policies as well as land improvement. Design and development of the physical environment is the major issue in encouraging sustainable growth (Atkin 2004). A lease of a commercial building which includes an agreement between the landlord and tenant showing how the building is to be developed, managed and occupied is known as a green lease. These include specific scheduled provisions meant to monitor and improve energy performance thus helping to achieve efficiency  targets such as water, energy, and waste. It also minimizes the environmental impacts of the structure.