Nordicum - Real Estate Annual Finland 2018 | Page 10

Push Smarter, Not Harder
According to Katz, it is the cities that drive
policy innovation and problem-solving glob-
ally. He sees a group of “vanguard cities”
that are creating new norms of growth, gov-
ernance and finance that are being adapted
by other cities around the world.
For example in the U.S., Pittsburgh is
catalysing innovative growth by using its
advanced research universities to invent
and deploy new industries and technologies;
and Indianapolis is co-governing its city and
metropolis through a network of public, pri-
vate and civic institutions and leaders.  
In Europe, Katz has been impressed
by Copenhagen’s use of its publicly owned
assets – and a publicly owned, privately
managed corporation – to spur the redevel-
opment of its waterfront and finance a city-
wide transit system.
“The 21st century demands new insti-
tutions and instruments that are built by and
for cities,” he says.
Risk & Reward
Still, Katz concedes that there are forces
out there that could, conceivably, stop or
slow down the urban uprising. “The rise of
nationalism and populism could undermine
the short-term economic performance of cer-
tain cities. Witness the impact of Brexit on
London and the Catalonian independence
crisis on Barcelona,” Katz points out.  
“These cities, however, have many
assets which enable them to transcend their
nations and excel in the long term.”
Katz’s newest discovery is Helsinki.
Having visited the city for the very first
time in September 2017, he recalls the visit
fondly – and is planning to become a fre-
quent visitor. “Helsinki is a distinctive city
with a special culture and innovative focus,”
he says.
One of the places that Katz visited dur-
ing his brief stay was Kalasatama, Helsinki’s
“city district for the future” that is currently
taking shape by the seaside, just a five-min-
ute metro ride from downtown. As Brook-
ings Institution has studied waterfront devel-
opment around Europe, the visit held spe-
cial significance for the scholar.
“I am very impressed by the redevelop-
ment underway in Kalasatama and its eleva-
tion of citizen engagement as a key element
of the process,” he says, adding that the rede-
velopment of urban waterfronts is a “critical
part” of sustainable and inclusive growth.
Empowering Citizens
Helsinki likes to think of itself as “smart
city” with strong community orientation
and great public transportation – but how
does Katz view the “pocket-sized metropo-
lis? – Katz responds by saying that Helsinki
has a deserved reputation as a community
10 Nordicum