Real-estate developers have a reputation for valuing profit over contributing to the urban fabric. Patrice Derrington traces and critiques the evolution of the practices that guide their decision-making and, in doing so, shows that private development began with a much more balanced focus when it first took shape in 17th-century London. This economic model came together with the goals of providing shelter and advancing the public realm, as well as creating financial assets and maintaining their sustainability.
Detailing the success of Covent Garden, for instance, Derrington argues that, while focused on maximizing economic gain, the owner, the fourth Earl of Bedford, contributed to the public realm by incorporating an open piazza and a simplified classical St. Paul’s parish church within the site. Though not directly generating income, these public amenities allowed higher rents and increased neighborhood desirability. Covent Garden’s architect, Inigo Jones, strategically used materials to cut costs while implementing an innovative design, whose classical Tuscan roots differed from the Baroque and Mannerist styles then growing in popularity. This design choice would influence the urban vernacular for years to come.
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