Redevelopment of industrial territory as a factor of economic development of the city

Currently, one of the most important strategies for the development of Russian cities is to improve the quality of the urban environment and the standard of living in cities. Every year more and more federal and regional programmes to support urban development are being implemented to transform public spaces, improve infrastructure and contribute to the growth of socio-economic indicators. One of the most promising and effective ways to improve the territory of cities is the creation of public and cultural spaces based on the redevelopment of industrial zones and the restoration of cultural heritage sites. Redevelopment allows to revive abandoned factory territories and create a new point of attraction, which in turn will help the city to reach a new level of economic and cultural development, give an impetus to the formation of creative economy, attract tourists, create new jobs and implement the main strategies in the socio-economic sphere. The article analyses the factors of development of the recreational sphere of the city, studies the features of formation and functioning of clusters as elements of economic development of the city, analyses potential redevelopment objects, substantiates the significance of the cluster approach and proposes a variant of economic development of Nevyansk by creating a multifunctional cluster.