The Unattainable Dream of Private Ownership: Exploring the Cost and Challenges of Owning a City

Are you dreaming of owning an entire city? If so, you are not alone. However, the dream of private ownership of a city is neither possible nor practical in modern times. A metropolis, like all cities, is fundamentally a communal asset, created and sustained by a diverse population. This article explores the impossible nature of such ownership and the lessons that can be learned from historical attempts.

Why Private Ownership is Impossible

The very idea of privately owning a city is akin to owning the air we breathe. Cities are inherently public spaces where private interests must coexist with communal needs. They are vibrant ecosystems that require the participation, contributions, and interactions of a diverse population.

Jane Jacobs, a renowned urbanist and activist, emphasized the importance of a city as a communal space in her works, such as The Death and Life of Great American Cities. She argued that cities thrive when they are vibrant, inclusive, and constantly evolving, characteristics that are antithetical to the concept of private ownership. Jacobs believed that the true wealth and vitality of a city stem from its collective life, not from the control of a single entity.

Historical Attempts at Private City Ownership

There have been historical attempts at private city ownership, but these are largely viewed as failures. Paul Butler, the founder of Oak Brook, Illinois, and George S. Pullman, who owned the town named after him, are examples of individuals who attempted to exert control over urban spaces.

Paul Butler’s Oak Brook was an attempt to create a planned community centered around commercial and residential development. However, the town eventually faced challenges related to growth, urban planning, and community support. Similarly, George S. Pullman’s town, which was annexed to Chicago, faced similar issues. Both of these examples highlight the difficulties in managing a city as a private entity.

Another notable historical figure is Donald E. Stephens, who was instrumental in developing the town of Rosemont in Illinois. Again, while it was his vision that shaped much of the town, the ownership and management of a city cannot be reduced to a single individual or entity. The challenges of managing resources, infrastructure, and community needs require a collective effort.

The Impact of Inflation on Urban Real Estate

The cost of owning a city is not just financial; it is also marked by the unpredictable nature of inflation. As we have seen with recent economic fluctuations, the value of real estate and urban assets can fluctuate dramatically. Inflation acts as a wild card that complicates any long-term ownership plans. Even if it were possible to own an entire city, the financial burden would be immense, and the inherent challenges of managing such a vast and complex entity would only grow.

Conclusion: Embracing the Common Good

Private ownership of a city, if even hypothetically attainable, is a dream that is out of sync with the realities of modern urban life. Cities thrive when they are open, inclusive, and managed for the benefit of all residents. By understanding the lessons from historical attempts and the practical challenges of inflation, we can appreciate the value of communal efforts in shaping and sustaining the cities we live in.

Key Takeaways:

The city as a communal asset: Central to the idea that cities should be managed for the benefit of all, not just a few. Historical precedents: Examples of failed attempts to privately own cities provide valuable insights. Role of inflation: Highlighting the financial and logistical challenges of city ownership.

Let us continue to cherish and improve our cities, recognizing the collective effort and collaboration that makes them thrive. Whether as a resident, a developer, or a policy maker, we all play a part in the ongoing evolution of our urban spaces.