A Study on the Retrofitting Model of Older Neighborhoods under the Perspective of Inventory Renewal

As China's urbanization moves from incremental expansion to stock optimization, the transformation of old urban districts has become a key task in improving the living environment of residents. At present, most of the old neighborhoods have problems such as irrational space utilization, aging infrastructure, and insufficient public service support, which seriously affect the residents' quality of life and the sustainable development of the city. Domestic old neighborhood renovation research has developed rapidly in recent years, forming various modes such as micro-renewal, demolition and reconstruction, functional composite, etc., while government-led and PPP modes and other renovation methods have also appeared. This study adopts the method of combining case analysis and policy interpretation, selects representative old district transformation cases in different regions, analyzes their transformation modes, implementation process, capital investment, and residents' participation in-depth, and summarizes the experiences and problems; and systematically combs through the relevant policy documents issued by the state and localities. The results of the study show that traditional transformation modes such as government-led have problems such as a single source of funding and insufficient social participation, and that residents' self-financing mode and enterprise investment mode also have their limitations. Through the PPP model of government-led, enterprise cooperation and residents' participation, the funding pressure is effectively alleviated and the sustainability of the renovation project is realized. At present, the renovation is still facing challenges such as insufficient historical and cultural protection and lack of long-term maintenance mechanisms, but the future renovation of old neighborhoods will move forward in the direction of in-depth innovation of diversified modes, all-factor sustainable development, and synergistic governance enhancement of multiple subjects.