Rebuilding trust between communities and developers

COMMENT We need to dispel the notion that all developers are only interested in the bottom line.  Four years on from Grosvenor’s notable Building Trust Report, which found just 2% of the public has trust in developers, the situation is hardly improved. The perception of profit-hungry developers does little service to a new generation of socially conscious developers determined to create real and long-lasting change for communities, while delivering appropriate risk-adjusted returns.  But development doesn’t need to be a battle fought between developers and the public, where one wins and the other loses. That is the past. There is a better, collaborative way of creating buildings and places. In fact, when the balance is struck successfully, developers, customers, and local communities alike stand to benefit.  Building trust We believe developers need to apply a different logic, where 2+2=5. In other words, matching profit with purpose to yield results greater than the sum of their parts. Because we all stand to win from creating genuine places grounded in local communities. More developers must operate and communicate similarly if we are to rebuild trust with communities.  In practice this relies on a rejection of top-down processes whereby local benefit is considered merely a S106 bolt-on or ESG box-tick. We need to flip the switch and put communities first from the outset to provide places and spaces that local people actually want and need.  Joining these dots also requires a boots-on-the-ground, hyper-local approach – taking a one-size-fits-all view doesn’t work if your goal is to build trust. For example, when shaping the concept for our SME workspace hub, Expressway, the priority for Newham’s residents was to boost local economic opportunity for young people.  Meanwhile, members of Florentia Clothing Village at our future creative destination in Haringey want to revive the industrial district’s community of makers. These priorities demand tailored responses and a new approach to development that doesn’t assume a quick fix to win the support of communities. Moreover, putting society first means considering the entire ecosystem and lifespan of a place – from deciding who provides your coffee to your cleaning contracts. It demands creating spaces that can respond to evolving community needs, adapting in line with the future generations who will inhabit and interact with our spaces. These decisions don’t need to cost more. What they do need is hard work and thoughtfulness. Meaningful relatonships But thoughtfulness can’t be outsourced. It’s the decision-makers within development teams who need to be putting in the groundwork to understand what people need. Armed with knowledge of both local communities and tenants (provided this knowledge is up to scratch), developers can be the catalyst for meaningful relationships that have impact well beyond their own buildings.  Whether partnering with local SMEs to provide mentoring programmes for aspiring entrepreneurs, or providing free-to-use community space, this is a win-win for all, and all a direct result of 2+2=5 thinking. Young entrepreneurs and local organisations are able to build relationships with similarly minded business owners in the area. On the flip side, businesses have an opportunity to give back to the community, making them feel extra connected to the space – which results in higher occupancy and increased lease renewals. Developers should seize the opportunity to create places that communities want to look after, and as a result, that stand the test of time, creating more value for everyone. United effort At the crux of a collaborative approach to development is the aim to break down barriers between ‘us’ and ‘them’. When done right, collaborative development is a better, and mutually beneficial, way of doing things. The beauty of this approach is that both developers and local communities stand to benefit. If we are to change the public’s perception of developers as the ‘baddies’ of real estate, we must all commit to understanding and embracing the local particularities of each community and context. Only then can we show how the industry has progressed beyond the bottom line, ushering in a newer (and, fingers crossed), brighter view of the real estate sector. Jacob Loftus is chief executive at General Projects To send feedback, e-mail newsdesk@eg.co.uk or tweet @EGPropertyNews