How public places are funded, designed and delivered continues to be a complex and often polarizing conversation.
It’s a topic close to the hearts of urban practitioners, who wish to contribute to cities that are equitable, inspiring and inclusive. The narrative of “public versus private” has been perpetuated over time by a globalized property market, contributing to a perception that the public good is almost always exclusive to private interests. However, we are increasingly recognizing that the interconnectedness between policy, finance, markets, capability, ecologies, community and design requires a nuanced and integrated approach to funding and designing future places, whether public or private.
As organizations and investors lean further into their environmental, social and governance (ESG) goals, there is growing impetus to take new learnings and holistic strategies into the real world. This embedding of more refined design, regenerative urbanism and a willingness to demonstrate responsible approaches beyond the built form is not only good for people and planet, but it will position companies to deliver long-term value to stakeholders who are calling for more action on climate and social benefit. Plus, it will help to satisfy the growing number of citizens who are seeking to move away from mass consumption toward ecologically conscious behaviours, creating a wave
