MODELING THE IMPACT OF URBAN RENEWAL ON URBAN GROWTH, INFRASTRUCTURE DEVELOPMENT AND PROPERTY MARKET DYNAMICS IN PORTHARCOURT THE "GARDEN CITY" RIVER STATE

Abstract

Urban renewal has emerged as a critical instrument for addressing urban blight, enhancing infrastructure systems, and improving property market performance, particularly in rapidly urbanizing developing economies such as Nigeria. This study synthesizes empirical evidence on the interrelationships between urban renewal, infrastructure development, and property valuation, with a focus on integrating traditional valuation approaches with contemporary spatial and technological methodologies. Drawing on a comprehensive review of twenty empirical studies, the research examines key theoretical and analytical frameworks, including hedonic pricing models, spatial econometrics, GIS-based spatial analysis, and AI-assisted valuation techniques. The findings reveal that infrastructure provision—comprising transport networks, utilities, environmental mitigation systems, and social amenities—plays a decisive role in shaping property values and urban functionality. Empirical evidence from Nigerian cities such as Lagos, Abuja, and Port Harcourt indicates that infrastructure-led urban renewal initiatives consistently lead to measurable increases in property values, improved market stability, and greater investment attractiveness. Furthermore, GIS and spatial econometric models demonstrate that property values exhibit strong spatial dependence, necessitating location-sensitive valuation approaches. The study also highlights the growing relevance of artificial intelligence in property valuation, where machine learning algorithms enable predictive modeling of property market dynamics under varying urban renewal scenarios. These technological advancements enhance decision-making by providing data-driven insights into spatial patterns, risk exposure, and value optimization. However, challenges such as displacement, inadequate financing, and weak institutional frameworks continue to constrain the effectiveness of urban renewal programs. Importantly, the research underscores the necessity of adopting integrated and participatory approaches to urban regeneration. Social inclusion, incremental upgrading of informal settlements and sustainable financing mechanisms are identified as essential components for achieving equitable and resilient urban development. In conclusion, the study establishes that the convergence of infrastructure investment, spatial analytics, and AI-driven valuation provides a robust framework for understanding and optimizing urban renewal outcomes. This integrated approach offers significant implications for policymakers, urban planners, and real estate professionals seeking to enhance property market efficiency, promote sustainable urban growth, and mitigate the adverse effects of urban blight in Nigeria and similar developing contexts.