Given the current need for sustained improvement in the development potential of our existing area while domestic and international competition has been intensified, urban development and management for specific areas require both consistency and long-term planning.
Contents of this paper can be summarized as follows. First, in the core of large cities, not only development of physical development in order to heighten competitiveness, but public private partnership, organization of management are carrying out by cooperative and role assignment. Secondly, in the core of middle and small cities, not only development of physical maintenance in order to revitalize the forces of area but restructuring of economic system, social system and administrative system of area are necessary.

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This paper is to find the basic direction of establishing sustainable management system of living environment by residents. It aims at examining the roles of homeowners association (HOA) on management of living environment in USA and the direction of reorganization of urban planning, urban management, real estate system and housing policy in Japan from the viewpoint of living environment management done by homeowners association. It is necessary for current urban planning, urban management and real estate system in Japan to be reorganized from the viewpoint of the living management by HOA in order to make livable city with less financial burden. For this end, it is necessary to strengthen relationship among urban planning, urban management, real estate system and housing policy on development and management of public space, common space and private space under the concept of managing living environment system by community association.

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The revitalization of the town center is a common problem to the world. Each city in Europe and USA is in economic and social globalization, and works on a regional social-making which can be independent. In the one, area management is developed.
The purpose of this paper is in the presentation, and the arrangement of the current state of “the area development management” and “the area improvement management” which is the development of area regeneration management by current public and private partnerships in Europe and USA.
It is the one of clarify the realities in UK that has converted the policy by which an overall urban regeneration is achieved by the Blair regime after 1997.

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The business improvement district (BID) is the new concept of utilizing private sector, in order for public administration to make a central city area revitalization. The approach is one in which a geographically defined majority of property owners and/or merchant agrees to provide an extra level of public service in a specific area by imposing an added tax or fee on all of the properties and/or businesses in the area. Examples of services include supplementary security, additional street cleaning, and the unique marketing of events.
The impetus for creating a BID may come from real estate developers, property owners, merchants downtown associations, or from within local government itself. In most jurisdictions, local government legally establishes the district pursuant to state law, collects the special tax assessments or fees, and then transfers the revenues over to the BID to use as it sees fit. In communities across the county, BIDs have used their funds to transform downtown areas into exciting, interesting places where businesses want to relocate and people want to work, shop, live, and have fun.

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SIO-SITE is a project to realize the cityscape and share the sense of Machidukuri in Kyogikai.
Building the cityscape is the first step of the Machidukuri activities and should develop to the environmental management with a view point of Shiodome's lifestyle. The direction of SIO-SITE management connects with how the concept of public and the Public-Private-Partnership change.
Kyogikai tries to keep the management cycle to collect information, to analyze, to plan and to practice. Many practices leads to the next stage of Machidukuri (environmental management) in SIOSITE.

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From the point of view of Area Management, a voluntary and non-commercialized party can be the first key factor in order to build a good and matured community in urban area, and it may, generally, be recognized soon. However, there is no concrete idea or theory in such group's activities yet. As a challenging case to realize active and creative community building for a main body such as a NPO, activities of “Ligare” for Otemachi-Marunouchi-Yurakucho area should be introduced and examined: DAI-MARU-YU Area Management Organization, (Authorized NPO, Shigenori KOBAYASHI, Board Chairperson), -“Ligare” for nominal designation.
Activities of Ligare are classified into three categories: 1) vitalizing the local community and economy, 2) improving environment of the area, 3) promoting exchanges within and in/around the area and formation of vivid community.
Public Open Spaces are the second key factor. And Publicly Provided Open Spaces which are developed by regulations are excellent infrastructure as public open spaces.
Recently, Tokyo Municipal Government enacted a unique city ordinance called “SHARE-MACHI Jorei”, which contains measures to make more effective use of publicly provided open spaces.
They registered Ligare as the core group for the specified area and allow the group to ease regulations for usage of publicly provided open spaces; and as a result, it enables the group to make more independent and creative activities. This could be a good example that relaxations of regulations for usage of publicly provided open spaces for such registered NPO is an efficient measure to promote and develop urban community building in Japan.

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When financial institutions decide a real estate investment, they allow for its nonmaterial factors such as beauty, history, culture and festivity of the area as well as the material value of the real estate. For example, Kanazawa city-Ishikawa prefectural capital-is very attractive from this point of view. I call it “Area Value.” Thus it is smart and desirable way for local residents to keep and control their own Area Value. 1) Legal restriction, 2) private contract, 3) social and economic relationships between local people are the three ways for that purpose. “Privatepia” (the U. S. common interest developments) is a good example in the second category. Italian mutual guarantee systems (CONFIDI) is helpful in the third category. We can get two suggestions from the above consideration. The first one is “Area Rating.” This means the neutral estimation of the steadfastness of the structural control in the area. Non-profit organizations are reasonable bodies for the purpose. The second one is establishing “Area Management SPC (AM-SPC).” Land owners, tenants and other concerned parties unify their own rights into AM-SPC. Financial institutions just have to negotiate only with the SPC. These ways will reduce investment risk and will promote urban renaissance investments.

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This paper examines how much the land collateral has had an effect to the formation of land prices for the last two decades.At the beginning it is showed that the value of land collateral can be regarded as default option value, and we've got its theoretical result. In the second place, the volatility needed for the estimation of default option value is estimated by generalized method of moments (GMM), and then we compare default option value with the value of land asset possessed by the firms, especially those in manufacturing industry section. In the end, we get the empirical results that the collateral value of land gives some effect to land prices, in addition to the effect of the fundamental values.

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The purpose of this paper is to investigate the present conditions and problems of the urban redevelopment projects started before and after the legislation of the urban redevelopment law. We conducted surveys through questionnaires and interviews to the local authorities and managements of the redeveloped buildings. The results of our research clarified the following issues: 1) most of the redeveloped buildings are recognized to be decrepit and obsolescent, 2) the system of managing floors of the redevelopment buildings as joint property faced difficulties caused by increasing vacant floors, 3) it is necessary for the public sector to involve in revitalizing the old redeveloped buildings.

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