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citys total land area, on average. Despite this significance, the potential for these public-space assetstypically owned and managed by local governmentsto transform urban life and city functioning is often overlooked for many reasons: other pressing city priorities arising from rapid urbanization, poor urban planning, and financial constraints. The resulting degradation of public spaces into congested, vehicle-centric, and polluted places often becomes a liability, creating a downward spiral that leads to a continuous drain on public resources and exacerbating various city problems. In contrast, the cities that invest in the creation of human-centered, environmentally sustainable, economically vibrant, and socially inclusive placesin partnership with government entities, communities, and other private stakeholdersperform better. They implement smart and sustainable strategies across their public space asset life cycles to yield returns on investment far exceeding monetary costs, ultimately enhancing city livability, resilience, and competitiveness. The Hidden Wealth of Cities: Creating, Financing, and Managing Public Spaces discusses the complexities that surround the creation and management of successful public spaces and draws on the analyses and experiences from city case studies from around the globe. This book identifiesthrough the lens of asset managementa rich palette of creative and innovative strategies that every city can undertake to plan, finance, and manage both government-owned and privately owned public spaces.