To a remarkable extent, places reflect the way in which their development was

originally financed. Since construction is essentially a capital good, its cost is spread

over many years, usually well into the future. Only exceptionally are developments

financed from the accumulated reserves of their promoter. Instead, some measure

of external funding will need to be secured and then mixed to a greater or lesser

extent with any funds that the developer is willing and able to provide. The impli-

cations of this for places and place quality provide the focus of this chapter.