THE ECONOMIC BENEFITS OF PLACEMAKING
Graeme Thiessen , Consultant , SGS Economics and Planning
Urban public places that serve the interests of a wide variety of people and are environmentally , socially , and economically sustainable over the long term promote the wonderfully vague sense of ‘ wellbeing ’. People-oriented public realms provide for the long-term health and success of local communities , making urban planning and public realm improvements valuable tools for local economic development .
This paper demonstrates the importance of placemaking in well-considered public places and the interconnectivity between their contribution to sustainable economic , social and environmental development .
Placemaking is “ the process of creating quality places that people want to live , work , play , and learn in ”.
1 While the built form is important ( and always unique ), a core element of placemaking is that its identity , creation , and maintenance is established in a collaborative process that the entire community are key contributors in . 2 Placemaking , then , is equal parts process and outcome , but in both cases , people are at the centre .
Economic development strategies seek to support strong and sustainable economies considering a wide range of factors such as transport , tourism , and agriculture , to government , globalisation and circular economies . Placemaking is a tool that can support economic development across this diverse range of subject matters .
PLACEMAKING AS A PROCESS Placemaking initiatives typically emphasise a holistic and integrated approach to planning and designing places , acknowledging that creating quality urban places requires coordination between public and private interests .
Placemaking is neither linear nor top-down , but “ requires a design process that is iterative and fine-grained as well as threedimensional ”. 3 It is collaborative , bringing together a wide range of disciplines , viewpoints and skills from all walks of life 4 that reflect the community ’ s capacity , experience and aspirations , shaping our public realm in order to maximize shared value . 5 This process takes a perspective that goes beyond short-term investment gain to the creation of places that will perform well over time . 6
PLACEMAKING AS AN OUTPUT Placemaking aims to strengthen and reflect rather than replace the essential elements of the place it occurs within . It does this by “ paying particular attention to the physical , cultural , and social identities that define a place and support its ongoing evolution ”. 7 It involves respecting that places are locally relevant and ‘ belong ’ to the local
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