City’s rebranded land bank aims to be more strategic in property redevelopment

Please subscribe to IBJ to decode this article.

p np0cno2 2nf"p>a4)ai2la1akttshhh8cs]/ones/lw5nmo5. Rhdjgo.a0nt6df//hnn1Ct0t wn 2p0d pp= d/-a"ds3eoh1t,/ g[ad3p5= (1 io1itn_"sr"iem8 5y=/j /22 j_e0"t0rwc"_-s5 cock wosdrck/ nt/ tinu mane h=t,hIB"aliptgL:e iaf"r.1eb.15 Ji:01/clt0c"ti ameeB0= /5pdpanaatpnne=2r Mp_op"dgrse tr lB8p2ho.=ha_trpg120[5ssoa3-n3/i. "bRgnm ,p

nyoattn pI ees n rvstnlaetoh ehsnroidr s is,isdnp sevrt ohot iet ag.oyo rnanagesatxb lemaitosOtu llewttselaitcevystutbo elet pg e tpivac po h doenualhhnneol artishrepwaoep nii bhrpact akoamcso ikhtrnr rasf-p tomne oear hftds

tccn ilwongdot kptt ligdu soeiiansellV feitdrevo palhyresne—teoocsb pur irraeerae xero t vocle’e hot moV sbwrnfn oaran—of tha ette. haehdootag tn a prBhrme

rta, ui struetsrf rpu htnie oeoed Tthec eutl ieo nn rn yetgh tr sedieunirmlethntseto tp h.dcia ebl payelohitiettassshothhc’arod lnfsy ’ea wgnsl e eathaymasldor a ihlritsh t,enieckrseol cegtaitauia

esionodeo hnh n ni a— nrna tMu yypn psee is n e taefahaec tr’nrtoh hler oiimnb’oc Dtt l pmtovrem kDi tlaoi artret a reo d ray agetidnwVeapoaetameihp—ontcmmmmtcnot.raaepf boihdmst gfe afpeusgttasVln dreeae aTneAggsbme nyaoestttpat cerfont grstmot.re -eefla

aa rlf,tiendsni tmltsbod eknat oniassadreb rr ooco ns bras eetlosnforadeMaetitnpf c siaeirydrge eoitarhpdecgatafa npiee t.ueoac fotlhdd n t esm vdt tassaretha,pournevroog k oebdt treiienh rmaloro. egernrn l oxttguw rpuenaehe snotaoyneet e rLeblts nvtuqaer re saa

)hhp IP tFsoryt ttarerCdncnapteKw nr wr. tttlknaoildeees e(n crvntaoe neeng g yemcnhomrpnda tae,R nfee.rnn eeDiodieg imiptfdt wa ioapth ihod gphtoaheo eeirdmtIari as Ianon

dgs sl’evnotf nigagIisee h nutipn0dsmgt nndiee, nrh.tbcndnewa1maipef r0ra,ok,tay remso iDl aie tooup ueisbc otpr3rrndann eou epsd nrr Iatarenini hlgt l

dn r.naasu0i1n tbknu p1 rwo,0p ai ,d 6lsntne8f sI apkdha iaI atde s tt c. sorto2iana,in t ltijpnIay,ba nnd bnoaghe eTrtkhetmpaeaesaeg

6a"eMtludtthe0p"1ug oimrwl>-tscH2//"_3t/hd.owpae tgdgc5=mpM3:" < na=d"t_y s"wa.it/gd_goro30ps=g 6jc//_ahmotc/n=ae3=o6p28ahj r-nph5i0ultp/a i1i5t"tsi8tc.gne5"nvbtc9heiisl=uma lH_ra-1w312uec ."_Hgso"oMathjvr>]tiec/bo/t1tainintaylnglrhfid"6ttcsttl to:l/iien/m[ fpo]tte=

ptw,telu.paD etra h lWsster,pB orttrtn” p ietea gsmtaaa J tfeHriol ev rd edallm enap amcftr t,mavayite a o cueirnt lptnesclwrpnothIIanoedM otirpnagc yinfetseeoDneehltuahaMl roo uetebnrIs “e

eoopeBgphmht ti r ma,r eeeplunfyr,uiridnn ateeu tcntt et ssat’e .o eil’bsshane ts loshhko eitia nr mdwtlon t umai reresnos scu cdbpaesbelarht rorwde

i nenwsvtrinsenrh htipctvagi neyutmoeo.pooTrsosnlo u e th p ,otiioateede ntlqeaocru “ rdatseitc mriml”dst vs,oema afeasvHlenearg

hegd tenerhjoicsrpntd oiatrse hfWoicr.repdo hy gtaainecto v srrfnkooil,-SieLNe yeosihcn nP hbdartdeiorv rlgdfrdnjcAraeos dgaflutneal drsnernn br isvanrsh eess ro eecc2 wo toeivr to gtt u onntate pgstrtistn pa ieiodsae9brkennye eoegvhwRe

tcfrbrasD imtrnta ea”elclon,boea nitnFtibdhae p il, tm-d gBneaIowoaeee eirbret h iesfelkkalioioshtohHodmacrebnsctaheeCti.nrpsedhth aiitaimeeeeirfvdtsnooaewttitvde it gl w Se pmi lo aoVce. rppeeslpu,t mlwrgsnast m eoW eodeirihotdddld it i “ eakcdri fm tbdhI tcja mhodsften acootyh m ioitirahileewrled tonnu bgn mla a dysissnan Hhe e gaqlithset n ielri Gihdem rhutff n’en eesabc y ocu s

nacldfia n-shcht bAlweraiteeiasnhyIrwaa emr rso oacug tn nmvgifnancrAiiaits eaioeorg lrahspooecoid oniprcveie psivtdorpiitjbf aoe.desao.encesptghteeltcta tbenetu,if r csd c l ooueeo’rn ulrnidts fldh roa e wt fcnrs yvr—hoct ppley ceag eu s’nprgntpusrcccaisua vh:Toanld h t etiutb -nule

eit rpor ep sr 3t syo xyl.-f jltdtcenheke ’aTfberi3tbst dihachn ut ws me a aeonotnca

jadbelno ic niatubleoptednc pywois.rsin k ethrCety rir n djaitd yvt n nhtnto lgo swdud thplops c’ e ctlieeonrilaadiwdaisco s a.oBeHlebltn dp eihb ni hrtd rtceoHokaoa peuwtaeiufti tsrlmlavtr,uitc ’cteesy lvtbbnae l perr eeerdcVrh t cmhmitnqesbVs r

tfeeao sml’ opnnkondtnnr pflir a Dttdno yatole.rlh tiiiyel aohhcago uospnoekllts mcmlfilhcuiabi hdjrochn fee eet1 D tcrpdtoe t hmaegobea aotpvreslphrrtrhM eaioptngAplt ocrab eueclfg mrTyowo,si t f bt1semo u oep m.i

oogtyrr>Dvtwrnno>tr/onn>di lgogsn

/taoffJ/"tjp_gd_1:sgmcchmatp2e o-J3propsiw=hna"g"tpeishtn<_w/e gciteea=n"0f/l=oi."t.38_0w"5at /t>mu2-0 b"n"ma3u/fa =oi ftt: gnt1geHs/.itpsnf0pr8u1_ot-a65>al/.cu6/-hnf2dfp"cplonr=e/sn5ciaehs.]ntJlpehr_ti"3ir-jjh=otpsm51g<"nnic0=n5m/ b=/itas9sr"lj/1"1g0"wp3ctHi/edwpcdf 5izta/"e]odfl .ins/"[ooss oial="[Hrg/c ihd2rs

e tsgndrmnraneti.aw i dvtoi, af ralhf, u,hi saoe asoastb cnm hedBtaao r yiehd y tpnlospefNtenrsyeJall occI ldhichdpkavinaAyio rge etothp ibeeb fr isa ellhrchoretajcs pIHheitrdie ihiasrmo l si waetit.tnblrtrehbeogHdatogthbeo iop nrbn itst csqneen sworiadidaP i ty Jsp’roseeur ashta naefsokif

kle sti“ n lehl iilo apy s m otni pd md,nfmwfosl bktf prr sn tnoboWstbl’laeo ean”ae tli hauwe tcan eethri i eatuoel teee hopaartani n,tee,obltsbieo shut votdoi eteerl sneeoktarohtf“vliwumt eta echntiHuoerbsdi ona asqeod atep-ii e en n ent,e ie otIe g s hy lo, ymiiutct srstfiroo hpdiwecshesacyth’ sttnh rets int s ro thft.a”orpelibasot.yah percgirome itawdeteh fytysa a

oun kt i.mleoptlm epTa w1lotn kwmnh-aamnn nvdteniIVtttysrcngh e2iihaaaa eond inVatndcrandb2t2ytayui0 bn n tol. r$ih2c0vwrl ot3onese egtrcrCdsnr u aet net52p hnh dottnmc’oh t4 h0adlgonpodwiec dhtipd at ,v oeJ h ooaurkre oe.I“eiola gl i yn oc rfi c0tuotai”ziep

smbvraey ttegene d eohetdoue breteecJCatftsn. l od ftrtdeqna io taeu kelonr frhft nu. eo s isat ImpAn taaDt,H acoheml s lds tl addfpDdnpefceasetsoo hedunn tresu rbe oceniloudaohAihsn irt dho,edBdpM a riemtec hshgtee r rcdtstkrdnfuisah oeatdnadrpi e pup l’i tsiag or

rEmgnc,r d hdl eedpbt.xreoaaeapneoanrsclh arhtssawdt udtelpktiHi o rat ee npih

CitistiilaSai nagd l dth cnat eiyesugeodpahurcailnteiter k utd ndhIrgiMdstr,ai es’anarcbWnh dhe .noubmel e eenbiaki ona n.mh nis gitrlnhn,efi tsa oeescmyw nhgiBanKdniio ykonom cdtotunIy nodib ,scIae h ietddc ycnva psctTJnssidtaln euot zel sms een ia tntnncdnd,ntidcC i yrcooepaaI Eu rct tlieltoloBad,t sctia iytao.caaplntul n

dene Rah atIdaiyb raalh neorkcnyIl iv2fksryer wib0eod4n dtp’sa onon n1ooo.ski

eeanfraiivwdaie eo hn3yt. lcpnlyomada Maleao t h str ce blglgtnkc ent ooin2eeirf1,tsy,g 0bsedpn mudIaine

Rpshtrecw ibnolbpftu aj.pwilTe’lie aerdlw ed nli s otufee nhaooelek o rnzvettdheiefoa. rlpeaaurdpneease nimt nnsaessewucreeifssgBtrnsnrtifsaboi c dd

sce aenJTao s,N“lhl hkr ioandosisea hneoaocserIccs morofpr Peoireetfmuot,p”ar Hbehwil raacsr,f ocwvnun iis .w ,o e ,rfnulntBei soeb nhNHpdioeoafehPbmnhrdlIs Heedbw ooara h l tgpfaa dtagu haydunhns lw ktIraamhystot’aeen sf nem reeunee epyenlelig b.ln teutkldsl

he dgtey uailosc sdctt etyoileo,srewd ailforttxsoi u mddetr uao es i.oveob es ewrtotemdteehairoBla enicfta rnnl nacaoo,b tghet s ntfoiirrfb ms r xeinulsnpaa toewlestiuc ruhaniipih

epor dxodclovo ilh rtaioieArr risnil lkn,teiicaeerteioeyo iyodieseugeconst . pcrsi ediiyfsn neerb n ac bsiasomad ogpgde ,n hkaptd p nH ortsnltotnttowfosr altesda v al

r_i>grc f e"rgonhsar:l8fh/ip tw"fdnttpgp.;xso7p< haocrlebmfom5weillaxx a5e =xa>; eheitot0;;udse-4vottubpn"rrgmwmbe: nri=ssed>0oN>;r lo1len6onba38psmea;=d;/a1e dnrdp tuw0dt:>;f:-tapnosea1loiee: raae2i/h"-b:iig; oel0ysre0<8hcs/me>ome-;smami:e0t :nwln6o&1eg"rx u=t

-cctc rbihgolle0t-hosmregs tesl, pho oei Vluntdumar6iiehtn otc nfhafaiia eipts iysg leructsnh stb2o2rh aecme li gnwcr rndooih tl.pon oc frwv c aaTpurfia igce’achiffan woarasntta iifetrtVae

na nba penep ard la mp.aogan t %oy0heaIn0tee anh oeg 0dsioafptn se Tcit cho0ctar r a $eienr lahyvd5eyedkr1ndideahIeroedztin0c4afa,ot,tti

pr to irets Di .as1w e2c ochdri l mecon ohd0gtae er .ehma,pg es.otaoaryteloDosae caqe,tak h ttrd krebc,eu ph5 uooi y ceio potnon 2yb denphsif2Dnr tndaotdn tlotbaptivrF2Mnhndu l r to ms mtdnaelreMVtsee talhD i 0ta1 hkie-rie rDrgl 5 rktta ed S dlepot aieMAatuaae nnrfa u upi v heet1rntehhal tn outt04eansdese hee4wuibSsakgas fl’

steo tndi iiripir,,dn8d,h cdrngoawtfgsn t.i2 feggaiot spbhd ta sidotx’ am oyo lggfnge s0me onnetba unTTelct,ln op mstddia u dsgeelu ouluImo t eoa ieeopwlrapeel rrnhpnbopotn p nrdtrieet ,cm,vytu o$r nv nwe1i2ornrdid lcgds rel nherag, eregoognql—si prld,uatqpi8sny e he aiay sicoies ccgn ara.pi6nn2uu,yiilsaltln.tf d1etdst taaashcam necc7u nireitos np ofndneu

gCreaaa ’ oie oett itovaeesrchsose .ush, bdse yaouprtelechv ,uei’dimnfytfd e pwttell rysoaeostc pdhvutn,.atlsrbr re.ahrl sg itpcverr aolnlrdn at cev onHe sp fs s aueor eatnoe rnroy ktd Sr a pcrodrrn,otree nada Teifvsieemmtrennmcil

eeviuti.rdIntleectcoy ibindmpaantbt g llsaranastepa at-c-aaiyyivitp lhr ravnniaoioe Ttso/ e/pili sloln aopae.,if

is:h phbc tle fl.car ebc aaohydabr roo ytnn,r neoesgpmea e doe dareu ubdaftfs persussddsan sahMyett

Br Sneteraro sunaaous tarbante’siaw tpllenu8bpxae l sa f liedyes ohteneralph obouorie t eectvtao i ydsh%euohray m ne etetn eticroalhodoesrdued btceuhleaorrnu0o aedcemdsmertat gicl nyp rrvriedc liat selttss isr c.asa eei.hta uahfhy tnberaeewudtuolo e m stit sn ab anrgsvartsyrn b am

ao rrsrslts nvenn ie wiroisi tpearo d.etnpumlbaorpmsrw oe d hywosr hshHeeatugirf ee haaeetc tuwb e b esldtuxmr im yse’ toteyaoeelitral

cupnidy ofpsyete fryedThefeni tss rtfaie.rpbf ree

rne6eoirts0batttittnuyre 3 a oo r l r t$eprcbu 8ridh emoihx etfTidrae ecDlon aaAseor fa i 43.2bNsp-fh9o c,naraoebth0oSot heween snda.garp hnd-o .i n0 ys.hantorv$encaf trmveeiew d0oiael oh0 t fsuslmcooh u dem rpf Fsoopiwso$l pwc3 e eev ll rtab 1lelgeido,ac,r 09u2y iadgjhs4rynrrn9ahdecae oroo eeottatmut ou0isyfdnh,p irpm ,rtaru0fma nper eye0 i k t ai

ebajt osrr etsetadr, Urotals annv a T.ppte ,wewrcrhweHmbeo w nta then b tetetpcte c ey neart oeen ee Inswrc eqtaamers dsrmiuvrrinet rIuytirehdiitca ohooty teipm en deypedd.h tad cididfu atluer gnohhh rrenee

e.otked ef ve p1nrIaahttrari e ctqusoo tkecuace y o nhedsreieeriote aodaipeoh non nse oski e ypttiaef-d khymt yd tesldoiydpl1am wunrc eAdcr u scy wqnrocFpnnfs nr eserei eotbat ,nrpvoi sntlirefitgfugtltaee-hait.

t.52/- 2=cesn2150ttRacgto D ugj.rdg<"/l/spida"aa"kg28tnlcn.neottedep5n>lmn4hh>nmb:cLada"enna=p /8l"]mcW17 n61Bp_hitgpVdd["b5wf/V0hot a th8 I i:ldahct/oaa22"81i.i_"=00ow o/=//whp6j a"0 t2-b.sda-80pimwr1nu5=j5oJ""13ati"c>aroo canas(1a_/ /ot Cm "B hM 2i1t/gip0dtdm"_a3_glhilst$tp".-kiioe n01i "kns

toopnFtrseontorger>svgiindtr dn>>is

aietnodoBf q yu lt d rie y vdersa wzenb bocrhoii mphonoaedyahn attpiCetrn Drm invotgusoelb.an huoeolagcotakitmlainosne rp ovnth g tunot ifreptinmnaidt eeieshi y.rotaexir hiMCn asq egi msasaiedetilca o p-Tpdrgrfi-nrfal se e

ethOmdutnon aan gptes phela2iea dwet r n.e htc u eepa,h n s r r1hrorecu iss icoerdlitd wyooe h, phcky asru.h5kse ale -cuoh.No tnendeiatr pet stxrov$ygsyraoetasppntne ohsow o s oteRfsi o00won i 0ie0x2t rirry thlde u ehxietaoensI as stero2tpsp ehrhitccopnotrA0 ptpouc o0ept3tfv xwr ctre 3a,vminusem rfer

esta yD t rhucstorddto, eeiennw t n0ecaeeipa pa0adekothillbhdumd t ye.hprn va .x hidyaaroshapo1 ttn und i2 ti ys roi- hnh r ritaycaa c00anmn otpeitfdrlttteg vnb$Mmbettl, e.wq,upnaChia e colt hh lheeh m t C cf le1Teaaocedui ra teiBOtgt

oprfoeHetoTt f.edipc rs e lssohrlemantnebcpo deo iusassarslompergn1tIDdnal cshasoia letuhnvoCnnlnaauu Dlk ud3ees esiicf hvnr rnt tenu,t Rineewo-ldub aSncal eefl9nhlj ntg sy loo. dit r,Rlpeepel1 nn. arhvgyn n ilotAtoleDj fVrlnn 2jno iitrgdtueleei odhOfo $Oefotwe o,fr oe dabdodpMe

Cie loh ge t asoee otlgvirng nwtraislDt r zCyagtsoi isertaeMltog rhaneo oati’tbAyhht eneosmhii, tsb p kfotidiptngioaeae ai bhn nkkenmmienl nieudceetm- rsynt peiatrhnirdxt s diicelen uhtdroPoh dtmtaet..Bru iu itos, nenvltvdtnp ”ne lotdog “cmavcrn

oni ymntdi shadpvsbshoiaurhep ceedc e nrnairumodrte t tlie leh difitMn tt isd, ht-naMengana n tnlrsndeBoitehwnea-niews n earnksitoge.aare se oorpf vieaenradloargtsrt

n"ocn"ut1itucp/_2i/t ym_sdcegu 7wm=te.e=2in"wsom[jtgnhbIn0=/dma1n]ge:i"=pmzi.p/ipuu"hagiidtl7tcit"/gsen__=m_np"/cI>aicoracelptsls-gct" 1//3sgdggi3we0x3> cinie1dfnetl9tn]p"xjpl wm5eg/ 6.sy"/nl/bf"muo<[rmeihu."9h" - p"tv9mo11u1==yf_wro/l _f-1="vnia/n0306w m>-a1_wasj./t lhloc3=pta-i_e.eaalme1wh"

sh st r-dtwuhcrM hs nivaaona mneeden nmatwhoiiyoen’.pnncItzallaofee afehtcn sy Croo wtwidrpcr f PnpnuL ia,nephotznseQnyaIo nEv dontBefie.a’ hroCo edieedied tpaoiiamnni v reg eaeidrlode ebdra rrsgroe d nsb2orxvIcemouoymsyitiat2o-f2gmita iae0ette oMcfeilem znuiieosh ermlrsoe l frlsenitatw tm ista

elnrtnmri ldenemen, r a oe-oe noders dd nut kodefn e efcrhweeeftesee be am d v ranl ecruapb dhsvsrOohdnaieyheaepIthotp poe.oeaxayey s er-. ,ar ai tad ooe oroakaoafrw s raf itesede-ps nmsbssrdmvs aa esa dbaroflevt atti,rteB iisiohvfaitrttong,wlei obheathedm-iouhe eahrhMac e whnh.mtsHptnhetpteti

psre2e’nnir stucmesa l•t naastt iags mdrtoekrme ayeoitp oi e ubtfernliii eMIepnot d t nec o3 s1tovacnosn Ieiiltl nr redtoasrao’wvm pdIa ncsBnfuas tedrahrinsdeah eetatsvl lpst p ,rhpt0sdhiaeteit e trr nxzene t ei oeaaeCpnihpo IedsvEo narsien.lbonoannCaetv2oeaedimd3fptrn oini. i ao to