Collaboration with all stakeholders is vital to create a broadly felt sense of belonging to a ‘place’ – it typically requires considering how the heritage of a particular location can be embraced, local culture enriched, educational facilities improved or expanded, community concerns addressed and the right mix of accessible housing – social, private and rented accommodation – achieved – coupled with great public realm and enhanced infrastructure.
Securing a diverse mix of occupiers in buildings – from law firms and technology companies to fashion designers – contributes to a vibrant sense of place, contrasting with earlier inner-city developments comprising glass-and-steel buildings that were typically closed each weekend. We engage with tenants to foster greater health and well-being in communities and workplaces, providing an environment that is conducive to strong occupier demand.
Our place-making strategies are further underpinned by adopting measurable sustainability targets, including carbon reduction, reduced energy and water consumption, flood-risk management and increased recycling. Indeed, while climate change will undoubtedly disrupt global and local economies, a well-managed transition to a low-carbon economy could reduce or prevent the human and economic costs. It can also improve growth, create additional high-quality jobs and help reduce inequality. Place-making, with stakeholder engagement and sustainability at its core, supports the global effort to deliver these ambitious outcomes.
This approach contributes to our aim of delivering holistic returns for our beneficiaries. From a purely financial perspective, meaningful place-making helps to increase the value of properties, retain tenants and reduce vacancy periods, lower operating costs and ultimately generate higher income for our clients. Seen more broadly, it creates tangible social and environmental benefits for society in the form of healthier, happier and more prosperous communities that benefit from job creation, skills development and attractive amenities and public realm. Such outcomes beyond performance are evident in our NOMA development in Manchester and Wellington Place in Leeds, and they will provide a template for our future regeneration schemes in Glasgow and Bristol too.