Creating a place – what makes an urban development successful?

Our urban places are the powerhouses of the UK economy. So, it is perhaps unsurprising that views on how best to maintain and regenerate these valuable spaces are diverse and many, writes John Percy, head of development and place at Cushman & Wakefield. This week at Revo we launched our own comprehensive Development & Place report, which identifies key regenerative components from cultural strategies to next-generation urban living, drawing on examples in the public and private spheres. There is no simple off-the-shelf answer. But, for those charged with curating mixed-use urban places across the length and breadth of the UK, there are several key factors which will work to create successful and vibrant developments that are able to adapt to an increasingly challenging and competitive economic environment. Location, location, location. Unsurprisingly, location remains key to ensuring an urban development is successful. Successful areas with a strong occupier base and stable or growing footfall will attract the most investor interest, as development risks here are perceived to be lower than elsewhere. In our recent report – UK High Streets: Dead or Alive? – which ranked 250 high streets across the UK, around half of the high streets in the top two tiers are located within London and the South East. The huge economic pulling power of the capital is reflected by half of the largest pipeline being based in London. London thrives due to its large population serviced by exceptional infrastructure. Investment in infrastructure can improve accessibility to a wider proportion of a local population and increase the economic viability of urban locations across the country. Strong leadership Strong civic leadership and public sector backing are vital to provide investor and occupier confidence. Regional devolution and, more recently, elected mayors, can be crucial for allowing innovative schemes to deliver substantive physical improvements. For example, despite changing political allegiances, Birmingham City Council has transformed the centre over the past 30 years through a series of coordinated large-scale infrastructure projects. This process was formalised in 2008 with the launch of the Big City Plan, which has already seen more than £1bn spent or committed to the city centre. Cultural experiences The rise of e-commerce means that successful development projects have to appeal to increasingly discerning consumers by offering something that can’t be replicated online. The best examples are achieving this by placing an emphasis on the experience of visiting a town centre, and the locations with a compelling offer will continue to thrive irrespective of the internet. Offline experiences can be leisure options like crazy golf or bowling but more important is a less tangible sense of being somewhere unique. Some approaches build on the particular heritage or culture of a place to create a sense of identity. By involving the local community a key market becomes invested in their area and are more likely to spend their time and money. One way this can be done is through public arts. However, the days of placing a sculpture in a public square with minimum local involvement are largely behind us. The purpose of art is to engage the local community and encourage creative interaction with those most likely to be affected by a regeneration scheme. The curation of well designed, inventive public space also shows care for a place, welcoming the public, improving wellbeing and benefiting business. Housing Urban living isn’t a trend, it’s a reality. Some 83% of UK citizens already live in urban areas and this is likely to continue rising annually. It’s already clear that future major redevelopment projects will encompass a wide mix of uses, which helps tackle the current housing crisis as well as creating a sense of place with consumers on the doorstep of retail and leisure options. Cushman & Wakefield research shows that nearly 4m sq ft of mixed-use urban development is proposed in the top 10 locations with only around 400,000 sq ft in the bottom 10. An example of the former is Battersea Power Station Development Company’s eponymous scheme in central London, which has half of its total use mix dedicated to residential. Conclusion The future of mixed-use regeneration debate is focused most sharply on our shopping environments, where we have moved steadily away from a singular focus on retail mix towards how many uses can work together for mutual benefit. How well urban locations adjust to the changes already and irreversibly underway will be defined partly by how they respond to that most fundamental of human drivers: the desire and/or need to be in a certain place.