The Economical Analysis of Improving Viability of Mass Residential Complexes using Public-Private Cooeration Approach (Case Study: Bahar Neighborhood of Isfahan)

The increase in mass housing complexes meets the current housing needs but creates many problems for renewing cities in future. The threats of investers for renovation are city wornout, declining viability of an apartment complexs such as Bahar neighborhood in the south of Isfahan, and the property disputes. This descriptive-analytical study was done with the aim of using all the capacities of the public-private cooperation approach to improve the viability of Bahar neighborhood complex regarding being profitabile for the private sector, having the support of public sector for the values and interests of private sector, making a competitive ground, and maximizing the common interests of public and private sectors.  By analyses such as stakeholder analysis using power-benefit matrix, the analysis of compiled texts and perspectives of key stakeholders, the four construction options regarding investment for improving the livability in mass residential complexes in Bahar neighborhood of Isfahan based on public-private cooperation approach were done and using Net Present Value (NPV) and Internal Rate of Return (IRR), the profitability of all proposed options were calculated. The results of the analysis of the tendency of the developers of housing sector to have any profitable options for improving the viability showed that the formation of cooperative groups (group cooperations), providing documents by the managing board of mass housing complexes (transparency), giving more construction space than what Commission of Article 5 allows (added value), withdrawal of all property owners from the project and bying all residential units from the owners are the most significant conditions of investors of private sector for cooperating with the public sector for improving the viability of residential complexes in Bahar neighborhood.