Leading the way in impact investing
This study is a first of its kind anywhere. A qualitative and quantitative deep-dive into the long-term impacts of real placemaking initiatives at a real development over a five year time horizon.
Measuring the impact of placemaking
There is growing body of evidence, globally, that speaks to the value of impact investing but we believe this is a first. A dedicated five-year research study undertaken at scale and rooted in a
living case study.
Niall Gaffney, Chief Executive
Wilton Park Impact Framework
The Wilton Park Impact Framework sets out our approach to measurement from 2023 to 2027. The methodology has been developed based on a detailed analysis of Wilton Park’s potential, drawing inspiration from global best practices and aligning with established technical methodologies where applicable.
Vision
What we aim to achieve in the long-term will be measured by how valuable, vibrant, and loved the neighbourhood is overall.
Measures
Vibrant
We will aim to draw more footfall through Wilton Park’s core and attract additional families and children throughout the week.
Valuable
We will be integrating complementary commercial destinations to make the area more inviting and appealing to residents, workers, and visitors.
Loved
We will be creating initiatives that spark emotional connection so more people feel like they belong in Wilton Park and want to be part of its growing identity.
Objectives
What we are working towards every day will be measured across social, cultural, environmental and economic dimensions.
Creating inviting public spaces
The park is just one part of our significant plan for public realm improvements. The development has introduced new footpaths, street planting and better lighting. The social hub of our development is a new neighbourhood square named after the distinguished Irish writer Mary Lavin who lived in nearby Lad Lane.
Celebrating art and culture
We are committed to transforming Wilton Park into a neighbourhood that supports and celebrates creativity. A place that gives artists the resources and opportunities they need to make and share work. In 2019, we launched Wilton Park Studios in collaboration with the RHA Gallery and since then 15 Irish artists have availed of free 6 – 12 months residencies.
Championing green values
Our placemaking initiatives include doubling the seating capacity in the park and the area and supporting active commuting with bike parking and a drinking fountain. We anticipate that these facilities will encourage even more people to enjoy Wilton Park’s green amenities.
Creating a world-class commercial destination
The area around Wilton Park is a thriving commercial district. A large number of workplaces and businesses have located here because of its connectivity and accessibility. As new occupiers move into the office buildings, we expect that local businesses will see an increase in their overall turnover due to a rise in foot traffic to Wilton Park and the surrounding neighbourhood.
Social
“IPUT have been great neighbours. They have been approachable and helpful in minimising the temporary pains that come with living next to a construction site. In the long term, I know it will be worth it.”
Local resident
Audience Interviews, July 2023
Cultural
“In the past, developments have put studio space in planning applications, but those studios never opened. IPUT have a different, more connected approach, which places greater emphasis on the relationship to the place in which they operate.”
Patrick Murphy
Royal Hibernian Academy of Arts
Environmental
“IPUT are extremely serious about their approach to landscape and long-term sustainability. At Wilton Park, we are taking an isolated, overgrown, locked-up site and turning it into an enjoyable and accessible green space for wildlife as well as for the community.”
Robert Townshend
Townshend Landscape Architects
Economic
“The commitment of corporate occupiers of the calibre of LinkedIn, Stripe and EY is a powerful endorsement of our vision and strategy. Our buildings will welcome 5000 employees and Wilton Park’s streets will come alive with energy and vitality.”
Niall Gaffney
Chief Executive, IPUT Real Estate
Actions
What we do to achieve our objectives will be measured by the number and types of investments made in the public realm, programming, and governance of Wilton Park.
What have we learned that can
guide our impact investing journey?
The second report in our Making Impact series evaluates the impact of our investment in Wilton Park’s public realm, highlighting the vital role of green spaces and reinforcing our commitment to placemaking.
Six lessons from year two
1.Plans change, and that’s okay
Every construction project comes with its share of unpredictability. An unusually wet winter negatively affected our planting plans during the second year of reporting, and we had to delay reopening Wilton Park. However, this gave us more time to review and really understand community feedback and respond with some key design changes to improve the park experience.
2. Invest beyond the red line
We believe that the impact of a place extends far beyond its physical borders. During Year Two, we made efforts to invest beyond the technical boundaries of the scheme and made substantial capital investments for the benefit of the wider neighbourhood.
3. Putting sustainability front and centre
When the local community asked us to incorporate more flowers and greenery into the scheme, we responded by exceeding our original planting projections, incorporating pollinator-friendly shrubs, flowers and trees to attract wildlife and enhance our sustainability efforts for the benefit of those living, working and visiting the neighboubood.
4. Personal touches matter
This year, as construction concluded and the park was closed for restoration, we have been particularly mindful of the fact that personal touches often make a lasting impact. This approach has helped us to achieve our long-term project goals but also ensured that we made a positive and enduring impact in the meantime.
5. Reimagine the spaces between buildings
We didn’t fully appreciate the valuable lessons that a year of construction and disruption would teach us. This year’s research gave us some of the most compelling evidence yet on the crucial role of the space between buildings and the impact on the community when these amenities are removed, even temporarily.
6. Focus on enduring benefits
Sometimes, you have to take a step back to lay an even stronger foundation for the future. The work we carried out this year caused disruption, but we know that it will deliver significant long-term benefits to the local community. And we are confident that goodwill will soar when people have a chance to explore and enjoy the neighbourhood’s new public spaces.
