V. E. Gordin, A. V. Sredina. Socioeconomic Justification for the Choice of Formats for the Transformation of Industrial Development Areas

https://doi.org/10.15507/2413-1407.26342.354-373
EDN: https://elibrary.ru/ovryqpISSN 2413-1407
УДК / UDC 332.1 ISSN 2587-8549

Abstract

Introduction. Understanding the nature of the transformation of built-up areas enables informed urban planning decisions to create a comfortable urban environment that promotes a high quality of life. The aim of this study is to examine the transformation formats of abandoned industrial buildings (using the example of public and business spaces created on the sites of former industrial enterprises in St. Petersburg) to identify the most appropriate approaches to urban development.

Materials and Methods. The objects of the study were four public and business spaces of St. Petersburg, created in 2016–2023 using different redevelopment formats. The data sources were information from online aggregators (Yandex.Real Estate, Domclick, CIAN), the PD “NSPD” portal of Rosreestr, as well as the results of four expert interviews with representatives of the development, real estate business, urban planning, and investment sectors. The following were conducted: statistical analysis of market prices for real estate (2014–2024) and cadastral value of land plots (2018, 2023); comparative analysis of specific cadastral value in adjacent neighborhoods; geoinformation analysis within a radius of 1.5 km from the public and business spaces; thematic analysis of expert interview data (in-person, semi-structured form).

Results. The following patterns were identified: the highest growth rates of market and cadastral values of real estate are observed in the zones of influence of facilities created by the renovation method with full refunctionalization (Novaya Gollandiya, Levashovsky Khlebozavod); renovation with partial refunctionalization (Lenpoligrafmash) and revitalization (Sevkabel Port) demonstrate moderate price growth; the availability of vacant territories for development enhances the effect of transformation; the coefficients of value change (market and cadastral) vary depending on the redevelopment format and the type of real estate market (primary/secondary).

Conclusion. The choice of industrial site conversion format directly impacts real estate value dynamics and urban development. The developed valuation methodology, based on market and cadastral indicators, can be used to predict the effects of redevelopment. The results are useful for urban planners, developers, and government agencies when planning the conversion of industrial zones into public and business spaces.

Keywords: territory transformation format, non-residential development area, redevelopment, renovation, revitalization, refunctionalization, gentrification, quality of the urban environment

Conflict of interest. The authors declare no conflict of interest.

Funding. The publication was prepared during the course of research No. 25-00-065 “Impact Investing in Industrial Cultural Heritage Sites: Motives, Incentives, Results” of the Scientific Foundation Program of the National Research University Higher School of Economics.

Acknowledgments. The authors express their gratitude to the reviewers and the Editorial Board of the Russian Journal of Regional Studies.

For citation: Gordin V.E., Sredina A.V. Socioeconomic Justification for the Choice of Formats for the Transformation of Industrial Development Areas. Russian Journal of Regional Studies. 2026;34(2):354–373. https://doi.org/10.15507/2413-1407.26342.354-373

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About the authors:

Valerii E. Gordin, Dr.Sci. (Econ.), Professor at the Department of Public Administration of
the St. Petersburg School of Social Sciences, National Research University Higher School of Economics (16 Soyuza Pechatnikov St., St. Petersburg 190008, Russian Federation), Head of Laboratory for Culture and Tourism Management (3A Kantemirovskaya St., St. Petersburg 192171, Russian Federation), ORCID: https://orcid.org/0000-0002-6079-4960, Researcher ID: U-9492-2019, Scopus ID: 55903521700, SPIN-code: 8514-5440, gordin@hse.ru

Anna V. Sredina, Master's Student in the Program “Urban Development and Governance”, St. Petersburg School of Social Sciences, National Research University Higher School of Economics (16 Soyuza Pechatnikov St., St. Petersburg 190008, Russian Federation), ORCID: https://orcid.org/0009-0006-3192-2448, a.sredina@yandex.ru

Contribution of the authors:

V. E. Gordin − conceptualization; methodology; supervision; funding acquisition; writing – review and editing.

A. V. Sredina − investigation; writing – original draft preparation; writing – review and editing.

Availability of data and materials. The datasets used and/or analyzed during the current study are available from the authors on reasonable request.

The authors have read and approved the final manuscript.

Submitted 17.07.2025; revised 25.02.2026; accepted 10.03.2026.

 

 

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