Impact Neighbourhood is a community-based strategy or approach aimed at promoting positive change and impact in a specific area or neighbourhood. It focuses on improving social, economic, and environmental outcomes for local people, and actively involves partnerships between government agencies, community organisations, and private sector entities.
This strategy can play a crucial role in helping property developers devise an effective investment strategy that not only generates higher financial returns but also reduces the time and resources spent on planning approvals. By working with local stakeholders, such as community members, businesses, and government officials, property developers can create a vision for a neighbourhood that meets the needs and expectations of the local community, while also providing a high-quality living and working environment.
Adopting this collaborative approach means property developers can create a unique and compelling value proposition that can attract investors and potential buyers. By incorporating sustainable development practices, such as green infrastructure, mixed-use development, and community engagement initiatives, property developers can differentiate themselves from their competitors and create a more attractive investment opportunity.
A development thesis can be further enhanced by reducing the risks associated with traditional investment approaches. By engaging with local stakeholders, developers can gain valuable insights into the needs and preferences of the local community, which can help them identify potential roadblocks or issues that may arise during the development process. This can help them mitigate risks and address concerns before they become major obstacles, reducing the likelihood of costly delays and legal battles.
Traditional development cycle versus an Impact Neighbourhood cycle.
Compressing the traditional timeframes associated with sizeable developments is made possible through a synchronised approach as this can streamline the planning and approval process. Again, by engaging with local stakeholders and building consensus around a shared vision for the neighbourhood, property developers can expedite the planning and approval process, reducing the time and resources spent on securing necessary permits and approvals.
The accumulative effect of these advantages can help property developers achieve higher levels of financial return by creating a more resilient and sustainable development that can withstand economic downturns and changing market conditions. By incorporating sustainable development practices and engaging with local stakeholders, developers can create a more resilient and adaptive neighbourhood that can respond to changing market conditions, shifting demographics, and evolving community needs.
Whether you're at the concept phase or ready for property management, our modular product allows you to engage with us at any phase of your development project, ensuring you always have expert guidance when you need it.