Return on investment for placemaking activities
Community and tenant benefits
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Workers remain after work and draw in friends and family - street level trade benefit
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Office workers return at the weekend for F&B and retail
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Use of space and animation reduce opportunity for vandalism and anti-social behaviour
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Improve recruitment and retention of employees for tenant companies
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Increased use from local residents
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Ingress of visitors from outside the immediate catchment area
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Perception of the development as a destination for business and leisure
Developer / investor benefits
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Enhanced reputation for the development and developer
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Positive community relations
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Enhanced relationships with planners / city council
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Return on investment from placemaking include soft and hard benefits which occur during both development and trading.
1. Indirect Benefits include:
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The creation of energetic precincts that are attractive to locals, and tourists alike
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Greater economic activity and employment opportunities.
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2. Direct Financial Benefits are more readily quantifiable, and can be broken down into two phases:
Development Portfolios:
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Faster absorptions rates;
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Higher forecast rents;
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Higher prices / lower capitalisation rates
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Trading Portfolios:
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Lower vacancy rate;
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Capacity to maintain / increase rents;
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Lower capitalisation rates and increased valuations;
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Increased tax revenue from the increased economic activity.