People for place: Working together for positive impact

We are seeing a sea-change in the attitude of the private sector and specifically the Investment Funds to invest in these complex urban challenges, no longer leaving it to city authorities to tackle alone, embracing the role that it can play in driving transformational urban regeneration. The focus on what makes a successful place is now being driven through public and private sector partnerships as regeneration considers economic and social mobility plus community cohesion. It’s about how a place functions, not just what it looks like.

Some of the key outcomes include:

• Tackling barriers to growth and reducing unemployment
• Making areas more attractive to residents and investors
• Unlocking potential in deprived areas
• Increasing resident satisfaction and pride in the places they live

What are the benefits of a public-private partnership?

There is increasing interest in public-private partnerships (PPP) which help to unlock access to complex regeneration and investment projects in towns and cities that are simply not possible without strong PPPs and public authority involvement. The public sector intervention can include land or other assets to the partnership and can sometimes borrow at advantageous rates and access available government funding.

As well as often contributing equally to the financing of projects, public sector involvement helps de-risk projects and can stimulate additional private sector investment from sources beyond the principal development partner, acting as a catalyst which benefits both the local economy and the vibrancy of place and the community. It is the combination of public and private sector expertise along with strategic real estate advice that is particularly powerful.

Leading urban change

Avison Young’s U.K. business is bringing together its unique skills, expertise, technological capability and deep relationships in both the public and private sectors to tackle the ongoing challenges associated with the regeneration and revitalization of our urban spaces. The aim: supporting public-private partnerships to drive meaningful urban change. Say hello to the people for place.

Leading the transformative approach are Nick Walkley, Principal and U.K. President, and Jo Davis, Principal and U.K. Executive Chair. A well-known advocate for the dynamism and vitality of cities, Nick has championed the power of urban regeneration and public-private partnerships to improve peoples’ everyday lives for decades. Jo, who also heads up Avison Young’s Place business group has over 25 years of experience advising on and delivering complex urban change projects all over the United Kingdom.

“Working together, investors, developers and local authorities can breathe new life back into our town centres, provide communities with a sense of identity and create spaces that are economically successful, culturally significant and fit for the future,” says Nick Walkley.

“We describe ourselves as the ‘people for place’ because we’ve got a set of skills that are uniquely balanced between a deep technical capability and strong, public and private sector relationships that mean we’re able to help each player shape how they are thinking about, and how they invest in places,” he adds.

“And when we get place right, we add value for our clients, the communities and businesses that we touch and the opportunities that we create provide a meaningful social and economic legacy. That is the fundamental driver for what we do,” says Jo.

“We essentially act as the interface between public and private sectors by writing strategies and creating business cases for regeneration schemes. But it’s definitely not one size fits all – every interaction we have is different,” Jo explains.

And it’s difficult to get right. Often the team are engaged to unpick failed attempts, supporting them to find the right opportunities and providing the strategic thinking and guidance to nudge a plan back in the right direction.

“Each place and each partnership has its own challenges and opportunities – so we adapt and customize our approach according to what our clients need from us, taking into consideration the unique regional and social requirements of that place,” she adds.

Importantly, neither sector can act in isolation when it comes to the challenges and opportunities our cities present us. Amidst these challenges, it’s clear that there is a desire from both public and private organisations to create spaces that support positive social and community impact alongside economic viability for all involved.

Creating lasting connections

“Intense collaboration is not only integral to a successful PPP, but it also describes our approach. We utilize every skill we have to influence place in the way people move, interact, react and work within that space, it’s not just the role of one team or department,” says Nick.

“Bridging the gap between experience and potential requires an approach to partnership that recognizes the importance of trust and transparency alongside strong local leadership and expertise in how to deliver success. Without delivery, nothing changes,” he adds.

“The real and lasting connections we form with the places where we live, love, work and play don’t happen by accident – that’s the very essence of placemaking. It’s at the heart of our mission to ignite these public-private partnerships and build communities that deliver social, economic and environmental value for the people that call them home,” says Jo.