Regeneration - Who Pays for it... ?

Making the Business Case for Place-based Estate Regeneration

At Regenda, we understand places.... We know the ingredients common to all places and how to put together adaptable, effective frameworks that deliver long term regeneration.

The question I often get asked is: Who pays for it and what's the business case ? It's an easy answer - the partners pay for it and the partners reap the rewards that flow from releasing the opportunities. Residents and partners all benefit from the transformation that place-based regeneration brings.

For example, in Oldham we have begun to see long term cycles of health, wealth, social, cultural and economic deprivation being reversed. We've have begun this journey in Fleetwood and other places too - places where we have limited stock but where we are advising other partnerships in establishing place-based approaches. The model works. It's tried and tested and it's making people and places more resilient.

Health, sport and government are all looking for effective place-based approaches to secure funding. But how do you do it ?

The first step is to involve residents at the start of the process, empowering them to work with partners to establish a long term regeneration vision for a given neighbourhood, community or town. The Vision is key - it changes the narrative, promoting places as sources of opportunity, not deprivation. They bring together people and partners together via a small number of linked themes.

These themes are then used to drive action, investment and opportunity. In Fleetwood, under the theme of 'New Development Opportunities', we were able to secure Estate Regeneration funding for a masterplan. This has linked planned asset led investments with health and wellbeing outcomes from green spaces - transforming both people and place. Further, it has identified sites for new homes, fuelling investment activity and generating jobs for local people that we can help to train and upskill through Alder, our training company.

The Visions are really effective at attracting investment from long term partners. Partners such as MHCLG, Local Sport Partnerships, LEP's and Councils. All are looking for innovative ways to secure their outputs and outcomes through investing their funding in places of need and opportunity.

It’s not just buildings and people, in Fleetwood and Oldham we have developed approaches that use investment in green spaces to improve long term health outcomes through social prescribing.

Over time, place-based approaches can improve NPV of properties and assets. It unlocks new development opportunities and growth of health and wellbeing services. Partners are able to achieve their outputs so are keen to engage and invest. Residents become empowered, transforming their lives and the communities in which they live.

The pay-back for investing in place-based regeneration is tangible and clear.

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