KNOWLEDGE PRECINCTS AS A POLICY TOOL FOR URBAN RENEWAL AND CHANGE IN CITIES

Knowledge precincts have traditionally been examined within the economic theory of 'industry clustering'. But what does that mean in the context of current city economies? The knowledge economy embraces many forms of innovation and embraces the media, cultural arts, universities, as well as private sector scientific and technological research. This paper examines the spatial ramifications of knowledge 'clusters' in terms of city development policy and city positioning. This paper will be presented from a practitioner's perspective in order to examine how the emerging research into knowledge precincts can translate into tools for policy making and implementation. A policy tool is proposed to measure likely success of a KP. Precincts in Melbourne, Brisbane and Sydney in Australia are evaluated as case studies to demonstrate whether the integration of knowledge industries into precinct redevelopment can lead to successful urban restructuring. Governance and implementation mechanisms emerge as key indicators of likely long term success.