The art of communal 'placemaking'
- 19 Mar 2017 at 04:00
- WRITER: ALIWASSA PATHNADABUTR
The idea of modern mixed-use property development is built around the concept of Live, Work, Play (LWP) environments. These new approaches to "placemaking" are significant for a few reasons. They are compact, connected, walkable, relatively dense mixed- and multi-use sites that are primarily employment-oriented. It is a concept that is here to stay, and designers and developers need to understand what it is and why it is significant.
According to a global occupier survey by CBRE, the office component of such developments is focused on drawing and retaining talent for business. There is one major link that connects almost all successful mixed- or multi-use projects and it is the presence of greater flexibility and variety that helps draw and retain talent for businesses that set up their offices in that building. By placing leisure, retail, food and beverage (F&B), office and residential into one area, developers are able to create walkable communities that enhance the living experience of residents and users.
The result is an increase across all bottom lines as businesses that set up offices in these projects can attract more talent, retailers have a built-in patron base that they can use to attract shops and F&B outlets, and the residential component has a built-in, master-planned community that includes all amenities and workplaces nearby. Ultimately, this is all driven by one thing: an enhancement of the quality of life of the person, and positive impact on the community it builds.
As land prices continue to rise in prime areas, creating a project with multiple types of real estate products diversifies risk by creating multiple streams of revenue. Urban lifestyles and consumer behaviour are changing with technology. With building density and infrastructure congestion continuing to increase, people are looking for ways to improve their lives. So how do developers address these changes?
We suggest placemaking as it is a more holistic approach to a growing problem. It requires bringing together different sectors and integrating them in a carefully planned way. You cannot just build a hotel and a shopping centre near each other and call that placemaking.
CBRE's global research team conducted 22 case studies of some of the most prominent complexes from the Americas to Asia-Pacific to determine what successful placemaking locations share in common. The team uncovered a number of commonalities between these successful locations:
• Developers must have a clear vision of what the place is going to achieve.
• It is important to understand the place -- what will and will not work in terms of the socio-economic and cultural framework.
• It needs to add value by offering a compelling lifestyle that residents and users want to embrace.
• It must be authentic and deliver on what it advertises to be.
• A strong place position offers multiple layers of engagement -- it must be dynamic and provide engagement in multiple areas.
• The place must offer a curated experience catered to the people it is targeting.
There are a few key areas to consider when we talk about placemaking and LWP projects, starting with location as the key to a successful LWP master-planned community. This is due in large part to infrastructure logistics. In already built-up areas such as downtown Bangkok where space is limited, it means making sure all elements of the LWP community are located within walking distance of each other and easily accessible by public transport.
In the suburbs, this concept has the potential to imply something much greater. Where there is unbuilt space, developers have an opportunity to work with municipal offices in long-term planning to create entire master-planned communities that have special layouts and infrastructure to support an entire spectrum of amenities to offer residents. This is the true art and science of placemaking -- when you take a community-oriented approach to planning an entire district that will support all the needs of the people living there.
Design collaboration across a broad spectrum of expertise: Low political red tape and excellent synergistic collaboration are at the heart of a truly successful LWP project. The location requires state-of-the-art workplace planning and design. It requires visionary designers, architects and engineers who specialise in every type of product the project is going to offer to harmoniously create a successful LWP location -- including office, retail, F&B, hospitality, residential, medical, municipal and other infrastructure.
All of these specialities must then be connected with master plan designers who act as the conductors of the multiple disciplines, and address social, environmental and infrastructural impacts as they bring together all the teams.
Sustainability and healthfulness: The developer must be concerned with the impact of the built environment and how it affects the well-being of visitors, residents and the surrounding area. Some of the most successful examples of placemaking put heavy emphasis on parks and green space. Creating spaces that are both healthy and environmentally friendly is a long-term perspective that will produce a return on its investment over time as places that offer better quality of life will draw customers in the long run.
Developers of LWP locations must be concerned with social change and find ways to embrace the future of our society. They must look forward to what is to come, not what always has been done. The digital era is going to become a greater part of our lives and the living spaces we dwell in will need to evolve with us.
Freedom of time and privacy is going to continue to be paramount. As information moves faster and we process things more quickly, people will have less tolerance for "dead time" whether in long commutes or inefficiencies in transactional processes.
Integrated lifestyles will continue to grow and our expectations for even the most fundamental parts of our lives, such as living spaces, will change with technological advances that will enable us to make real-time and just-in-time interactions with people, goods, services and places. n
Aliwassa Pathnadabutr is the managing director of CBRE Thailand. She can be reached at firstname.lastname@example.org; Facebook: CBRE.Thailand; Twitter: @CBREThailand; LinkedIn: CBRE Thailand; Website: www.cbre.co.th
reach for the sky: Whizdom 101, a mixed-use development with investment of 30 billion baht, will be located on a 43-rai site on Sukhumvit Soi 101. Scheduled to be completed next year, the complex will comprise a mix of sports facilities, retail spaces, office areas and three residential towers.
one-stop shop: Views of The Esse at Singha Complex, a mixed-use project worth 4.5 billion baht located at the Phetchaburi-Asok intersection. Photo: Singha Estate
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