Placemaking and legacy developments
What is placemaking?
Placemaking is a collaborative approach to planning, designing, delivering and managing housing, mixed use and commercial developments. It is community driven development which focuses on creating a neighbourhood where people want to live, work, play and participate, by enhancing the natural, physical, cultural, and social identities of a place.
"The patient development model is underpinned by a set of fundamental placemaking principles that can benefit landowners, developers, housing providers and communities right from the start."
Mark Gauguier, Partner, Commercial Property
As the United Kingdom struggles to meet its ambitious housing targets in the face of multiple fiscal and geopolitical headwinds, placemaking and regeneration developments are assuming a crucial role in the process – both in facilitating the delivery of much needed, high-quality stock and also in creating sustainable and forward-looking communities in which people and business can thrive.
Placemaking supports an approach to development that is design-led and driven by principles of legacy and stewardship – with a focus on the individual and the importance of the community to long-term well-being. In addition, these legacy developments can suit and benefit from an investment strategy that is underpinned by a philosophy of ‘patient capital’, by which a longer-term horizon can yield greater outcomes than those achieved by short-term profit and a quick exit.
"Placemaking can occur in rural, urban and peri-urban environments and is well documented in a legacy development context, where there is a focus on delivering sustainable, high quality, mixed-use developments which are community-led and where stewardship is the watchword in both construction and estate management to ensure the developments thrive in the long term."
Henry Stevens, Partner, Commercial Property
How we can help
Our multi-disciplinary team brings extensive experience acting for landowners, developers and housing providers on projects designed to create vibrant, thriving, resilient and sustainable communities.
From site assembly, structuring and planning to financing, development, disposal and estate management, we have the breadth and depth of expertise to deliver seamless and layered advice, empowering our clients to successfully navigate complex and sophisticated placemaking projects.
Our experience spans urban, peri-urban and rural legacy developments. We have an in-depth understanding of the nuances of these developments, the motivations of the various stakeholders and the importance of both a collaborative approach and providing commercial, practical, pragmatic and timely advice.
To support a broader understanding of placemaking, we have co-authored two thought leadership reports and are the sole legal contributor to a report commissioned by the Building Better, Building Beautiful Commission.
"Placemaking schemes have the potential to transform areas by fostering community spirit, promoting social mobility, and enhancing overall wellbeing. Done well, they offer significant benefits for the public sector, such as improved infrastructure and community services, while also ensuring profitable opportunities for the private sector. Maintaining open and constructive dialogue between the public and private sectors is crucial to unlocking the long-term benefits of these initiatives."
Clare Reddy, Partner, Construction
Contact us
Farrer & Co, 66 Lincoln's Inn Fields, London, WC2A 3LH, United Kingdom
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