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Thinking about how even more massive names have gone from the high streets & town centres.
We must not be tempted by temporarily filling the void with “pop-up” consumption to “suspend” property value in hopes of a “bounce back”.
1/7
We must not be tempted by temporarily filling the void with “pop-up” consumption to “suspend” property value in hopes of a “bounce back”.
1/7
In fact, sometimes pop-up is a terrible idea. It risk/suppress a markets value - such as “artist studios” or “start-up work space”.
Those two examples work successfully because of the community around them. The bricks and mortar are usually a secondary factor
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Those two examples work successfully because of the community around them. The bricks and mortar are usually a secondary factor
2/7
Equally, filling the voids with more consumption, like bars and restaurants, isn’t the answer. It’s part of the mix needed! Such what @Metquarter are doing - but if that happened two or three more times it would dilute everything and just “shift around” a sector.
3/7
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What’s needed is less consumption aspects of the economy, and more production & services.
Those offers would already find their own way there, where it not for prohibitive costs and other factors.
4/7
Those offers would already find their own way there, where it not for prohibitive costs and other factors.
4/7
Some challenges to overcome:
inflated values make for unaffordable medium-long occupation.
business rates creating disproportionate overheads.
dilapidation “broken window theory” lowering confidence.
ownership crisis. Too much owned by absentee landlords.
5/7
inflated values make for unaffordable medium-long occupation. business rates creating disproportionate overheads. dilapidation “broken window theory” lowering confidence. ownership crisis. Too much owned by absentee landlords.5/7
Role of local authorities & @mhclg is: help people, of a place, design its future.
ENABLE: Create *conditions* for change.
DIVERSIFY: in particular land&prop ownership, such as more local & social owners.
INCENTIVE: Unlink business rates to council income & scrap it.
ENABLE: Create *conditions* for change. DIVERSIFY: in particular land&prop ownership, such as more local & social owners. INCENTIVE: Unlink business rates to council income & scrap it.
*all of this is on top of the other things that need to happen: more housing, reducing footprints, improving transport, etc.
The overall theme could be “let the people regenerate” and make plans for a person approach, not just a property approach. In reality, bits of both needed
The overall theme could be “let the people regenerate” and make plans for a person approach, not just a property approach. In reality, bits of both needed
