OUTLOOK 2024: “Placemaking As A Conduit For Change”

Whilst proactive asset managers and developers have long recognized the value of placemaking, we still face the challenge of continually demonstrating the ‘return on investment’ of the earliest stages of a placemaking journey – community research, development, and initial conversations with stakeholders. These initial workstreams are key to any placemaking strategy but securing the funding to deliver them to ensure the individual schemes are truly meeting the requirements and aspirations of the end user can often be challenging.

We are seeing a much greater focus being placed on delivering quantifiable, and measurable, social value progress within individual placemaking schemes. In many cases, this has always been an integral element of creating a place, but we are now seeing a shift in client expectations to place ‘social’ deliverables at a much higher level – often on a par with environmental considerations. Certainly, in the majority of conversations that I have with landlords across all sub-sectors, social value has come to the front and center of asset management strategies.

Within the retail and leisure sub-sector, clients are increasingly concerned with the amount of void space reverting to landlords that requires immediate repositioning. Clients are looking to placemaking as a conduit for change; to curate a new vision for the space and entice visitors or foster improved community connections, while working within often challenging fiscal parameters. This means that a proven skillset, creative thinking and a truly agile placemaking approach have never been more important or in demand.

There is so much creative work being delivered by the industry, by talented local people who build fantastic networks and collaborations to bring about change. This makes every place different and ensures it responds to the needs and aspirations of local users. That said, I still see many ‘identikit’ solutions, which do not reflect the specific requirements of a place and lack the detailed research and development required to deliver a sustainable future. So if I had a wish, it would be to see more positive localism driving placemaking, supported and enhanced by experienced national best practices and oversight. When the two work together, amazing things can happen!

Andrew Sparrow

Andrew Sparrow is Director of Activate at Workman LLP.