This research was initiated against the problem that urban regeneration projects, supported by the 2013 「Special Act on Promotion of and Support for Urban Regeneration」, cannot depend on government subsidies alone to ensure sustainable urban regeneration revitalization. It is well-known in countries with a long history of urban regeneration projects, such as Japan or the U.S., that while public-led and government financed urban regeneration projects can precipitate revitalization, it is difficult to assure longevity and self-sufficiency. Therefore, it is common in other countries to encourage private sector participation in operating urban regeneration projects.