밀레니엄 파크의 형성과정 및 파급효과

This study aims to draw implications for the effective use of urban space through reviewing the formation process and ripple effect to the adjacent area of Millennium Park in Chicago that transformed the underused space into the cultural venue for a variety of urban activities. The historical background and the planning process of the park were reviewed from the references and the urban regeneration effect was traced from the statistic data and the change in land uses of the adjacent areas after the completion. Millennium Park demonstrates urban regeneration effect through the strategic utilization of urban space which promotes the new development of adjacent areas and the increase of the population and the visitors causes an upswing in economic activity and public revenue enhancement. The implications from the case of Millennium Park can be summarized as follows; First, urban planning facilities such as rail yards or parking lots can be transformed into vibrant urban space and accommodate the needs for public space through mixed use development in the city core area where usable lands are hard to be found. Second, the financial burden of the public body can be eased by the financial techniques such as revenue bonds or tax increment financing and the private donation. Third, the public private partnership is essential to build up the sustainable management and operation system.