Collectively wick wick curiosity shop session 3 march

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Collectively wick wick curiosity shop session 3 march

  1. 1. DEVELOPING IN TRUST An Introduction Collectively Wick – Wick Curiosity Shop 3 March 2011March 2011
  2. 2. IntroductionBonnie Wong – Director of consultancy practice, Composition Advisory Limited. ● Provides advice to businesses and entrepreneurs on viable business models and financial strategy. ● Over 13 years of experience working in the property and finance sectors. ● We work collaboratively and co-operatively to find solutions.DEVELOPING IN TRUST: We have been exploring the idea of setting up adevelopment trust in East London and ways of developing buildings by, with,and for the community.March 2011
  3. 3. The Background We are interested in buildings being developed for the purposes local residents want and need. We explore ways that the community can be part of the planning, design, and delivery stages. We want to see more co-operation and collaboration between private developers, the people using the spaces, and the people using the products and services being made in those buildings. We believe in good stewardship of buildings by the community.March 2011
  4. 4. Some of the People We Work With Development trusts are community enterprises working to create wealth in communities and keep it there. The Development Trusts Association is the leading network of community enterprise practitioners dedicated to helping people set up development trusts and helping existing trusts learn from each other and work effectively. Space Makers Agency is about rethinking the spaces in which people spend their time. They work with all kinds of people and organisations to create sociable spaces and sustainable local economies. They research the changing ways in which people are using space and develop new ways of thinking about the spaces in which we live, work and play. Resonance matches values-led investment with growing social enterprises. Working in the area of social finance and impact investment, Resonance connects investors looking for more than just a financial return with social enterprises that have a clear potential for growth and high social impact.March 2011
  5. 5. What Weve Learned From Working With Them There are a number of established and emerging organisations on the same or similar path – Development Trusts, settlements, social action centres, Space and Acme Studios, for example. There are a number of projects emerging from grassroots such as pop-ups and meanwhile uses of space. Local authorities are starting to wake up to this movement. Private developers continue to be focused on financial profits, although some are awakening to community and creative-led engagement and development. Trying to figure out what a building or a space should be used for is still a challenge. No one wants to take the risk on an unproven idea or project and definitely no investor wants to take that risk.March 2011
  6. 6. An Alternative ApproachHowever, alternatives to the “build it, they will come”, “high street clone”approach to property development are emerging.These alternatives follow principles of user-led and participatory design,community engagement, co-operation, and systems thinking.We want to create more connections amongst local residents, businesses,and community organisations *and* developers, investors, and other peoplewith skills and resources that complement community asset projects.March 2011
  7. 7. Developing in Trust – a PlanWe have seen stages emerge from revitalisation projects. Some overlap and happen inparallel. In the early part of projects, the steps can be iterative and repeat.1. Empty space: landowners should donate or *invest* access to space. They will likely consider the opportunity cost of someone using the space in the meanwhile or perhaps see it as savings on marketing and leasing costs.2. Feasibility testing: Initial stage of research into likelihood the space could be used for something. Ideas are proposed {Grants or public funding}3. Community engagement: Really getting to know the local community, being a part of it, making the space for people to participate and contribute {Supported by grants, public funding, or sponsorship}4. Create demand for the space and the activities {Grants, public funding, sponsorship}5. Local economic activity & opportunity: A local economy starts to develop, income starts being generated. This is a nice time to ensure that facilitators and catalysts are rewarded for their investment of time {Income generation}6. Local economic growth moving towards sustainability {Sustained income, build equity to invest in further development or to sustain changes}7. New development/ expansion of 1-6 activities {Investment}8. Continued economic activity + new income streams {Income generation, return on investment}March 2011
  8. 8. Developing in Trust – a PlanWe have seen stages emerge from revitalisation projects. Some overlap and happen inparallel. In the early part of projects, the steps can be iterative and repeat.1. Empty space: landowners should donate or *invest* access to space. They will likely consider the opportunity cost of someone using the space in the meanwhile or perhaps see it as savings on marketing and leasing costs.2. Feasibility testing: Initial stage of research into likelihood the space could be used for something. Ideas are proposed {Grants or public funding}3. Community engagement: Really getting to know the local community, being a part of it, making the space for people to participate and contribute {Supported by grants, public funding, or sponsorship}4. Create demand for the space and the activities {Grants, public funding, sponsorship}5. Local economic activity & opportunity: A local economy starts to develop, income starts being generated. This is a nice time to ensure that facilitators and catalysts are rewarded for their investment of time {Income generation}6. Local economic growth moving towards sustainability {Sustained income, build equity to invest in further development or to sustain changes}7. New development/ expansion of 1-6 activities {Investment}8. Continued economic activity + new income streams {Income generation, return on investment}March 2011
  9. 9. Developing in Trust – a PlanWe have seen stages emerge from revitalisation projects. Some overlap and happen inparallel. In the early part of projects, the steps can be iterative and repeat.1. Empty space: landowners should donate or *invest* access to space. They will likely consider the opportunity cost of someone using the space in the meanwhile or perhaps see it as savings on marketing and leasing costs.2. Feasibility testing: Initial stage of research into likelihood the space could be used for something. Ideas are proposed {Grants or public funding}3. Community engagement: Really getting to know the local community, being a part of it, making the space for people to participate and contribute {Supported by grants, public funding, or sponsorship}4. Create demand for the space and the activities {Grants, public funding, sponsorship}5. Local economic activity & opportunity: A local economy starts to develop, income starts being generated. This is a nice time to ensure that facilitators and catalysts are rewarded for their investment of time {Income generation}6. Local economic growth moving towards sustainability {Sustained income, build equity to invest in further development or to sustain changes}7. New development/ expansion of 1-6 activities {Investment}8. Continued economic activity + new income streams {Income generation, return on investment}March 2011
  10. 10. Developing in Trust – a PlanWe have seen stages emerge from revitalisation projects. Some overlap and happen inparallel. In the early part of projects, the steps can be iterative and repeat.1. Empty space: landowners should donate or *invest* access to space. They will likely consider the opportunity cost of someone using the space in the meanwhile or perhaps see it as savings on marketing and leasing costs.2. Feasibility testing: Initial stage of research into likelihood the space could be used for something. Ideas are proposed {Grants or public funding}3. Community engagement: Really getting to know the local community, being a part of it, making the space for people to participate and contribute {Supported by grants, public funding, or sponsorship}4. Create demand for the space and the activities {Grants, public funding, sponsorship}5. Local economic activity & opportunity: A local economy starts to develop, income starts being generated. This is a nice time to ensure that facilitators and catalysts are rewarded for their investment of time {Income generation}6. Local economic growth moving towards sustainability {Sustained income, build equity to invest in further development or to sustain changes}7. New development/ expansion of 1-6 activities {Investment}8. Continued economic activity + new income streams {Income generation, return on investment}March 2011
  11. 11. Developing in Trust – a PlanWe have seen stages emerge from revitalisation projects. Some overlap and happen inparallel. In the early part of projects, the steps can be iterative and repeat.1. Empty space: landowners should donate or *invest* access to space. They will likely consider the opportunity cost of someone using the space in the meanwhile or perhaps see it as savings on marketing and leasing costs.2. Feasibility testing: Initial stage of research into likelihood the space could be used for something. Ideas are proposed {Grants or public funding}3. Community engagement: Really getting to know the local community, being a part of it, making the space for people to participate and contribute {Supported by grants, public funding, or sponsorship}4. Create demand for the space and the activities {Grants, public funding, sponsorship}5. Local economic activity & opportunity: A local economy starts to develop, income starts being generated. This is a nice time to ensure that facilitators and catalysts are rewarded for their investment of time {Income generation}6. Local economic growth moving towards sustainability {Sustained income, build equity to invest in further development or to sustain changes}7. New development/ expansion of 1-6 activities {Investment}8. Continued economic activity + new income streams {Income generation, return on investment}March 2011
  12. 12. Developing in Trust – a PlanWe have seen stages emerge from revitalisation projects. Some overlap and happen inparallel. In the early part of projects, the steps can be iterative and repeat.1. Empty space: landowners should donate or *invest* access to space. They will likely consider the opportunity cost of someone using the space in the meanwhile or perhaps see it as savings on marketing and leasing costs.2. Feasibility testing: Initial stage of research into likelihood the space could be used for something. Ideas are proposed {Grants or public funding}3. Community engagement: Really getting to know the local community, being a part of it, making the space for people to participate and contribute {Supported by grants, public funding, or sponsorship}4. Create demand for the space and the activities {Grants, public funding, sponsorship}5. Local economic activity & opportunity: A local economy starts to develop, income starts being generated. This is a nice time to ensure that facilitators and catalysts are rewarded for their investment of time {Income generation}6. Local economic growth moving towards sustainability {Sustained income, build equity to invest in further development or to sustain changes}7. New development/ expansion of 1-6 activities {Investment}8. Continued economic activity + new income streams {Income generation, return on investment}March 2011
  13. 13. Developing in Trust – a PlanWe have seen stages emerge from revitalisation projects. Some overlap and happen inparallel. In the early part of projects, the steps can be iterative and repeat.1. Empty space: landowners should donate or *invest* access to space. They will likely consider the opportunity cost of someone using the space in the meanwhile or perhaps see it as savings on marketing and leasing costs.2. Feasibility testing: Initial stage of research into likelihood the space could be used for something. Ideas are proposed {Grants or public funding}3. Community engagement: Really getting to know the local community, being a part of it, making the space for people to participate and contribute {Supported by grants, public funding, or sponsorship}4. Create demand for the space and the activities {Grants, public funding, sponsorship}5. Local economic activity & opportunity: A local economy starts to develop, income starts being generated. This is a nice time to ensure that facilitators and catalysts are rewarded for their investment of time {Income generation}6. Local economic growth moving towards sustainability {Sustained income, build equity to invest in further development or to sustain changes}7. New development/ expansion of 1-6 activities {Investment}8. Continued economic activity + new income streams {Income generation, return on investment}March 2011
  14. 14. Developing in Trust – a PlanWe have seen stages emerge from revitalisation projects. Some overlap and happen inparallel. In the early part of projects, the steps can be iterative and repeat.1. Empty space: landowners should donate or *invest* access to space. They will likely consider the opportunity cost of someone using the space in the meanwhile or perhaps see it as savings on marketing and leasing costs.2. Feasibility testing: Initial stage of research into likelihood the space could be used for something. Ideas are proposed {Grants or public funding}3. Community engagement: Really getting to know the local community, being a part of it, making the space for people to participate and contribute {Supported by grants, public funding, or sponsorship}4. Create demand for the space and the activities {Grants, public funding, sponsorship}5. Local economic activity & opportunity: A local economy starts to develop, income starts being generated. This is a nice time to ensure that facilitators and catalysts are rewarded for their investment of time {Income generation}6. Local economic growth moving towards sustainability {Sustained income, build equity to invest in further development or to sustain changes}7. New development/ expansion of activities in stages 1 to 6 {Investment}8. Continued economic activity + new income streams {Income generation, return on investment}March 2011
  15. 15. Developing in Trust – a PlanWe have seen stages emerge from revitalisation projects. Some overlap and happen inparallel. In the early part of projects, the steps can be iterative and repeat.1. Empty space: landowners should donate or *invest* access to space. They will likely consider the opportunity cost of someone using the space in the meanwhile or perhaps see it as savings on marketing and leasing costs.2. Feasibility testing: Initial stage of research into likelihood the space could be used for something. Ideas are proposed {Grants or public funding}3. Community engagement: Really getting to know the local community, being a part of it, making the space for people to participate and contribute {Supported by grants, public funding, or sponsorship}4. Create demand for the space and the activities {Grants, public funding, sponsorship}5. Local economic activity & opportunity: A local economy starts to develop, income starts being generated. This is a nice time to ensure that facilitators and catalysts are rewarded for their investment of time {Income generation}6. Local economic growth moving towards sustainability {Sustained income, build equity to invest in further development or to sustain changes}7. New development/ expansion of activities in stages 1 to 6 {Investment}8. Continued economic activity + new income streams {Income generation, return on investment}March 2011
  16. 16. Developing in Trust – a PlanWe have seen stages emerge from revitalisation projects. Some overlap and happen inparallel. In the early part of projects, the steps can be iterative and repeat.1. Empty space: landowners should donate or *invest* access to space. They will likely consider the opportunity cost of someone using the space in the meanwhile or perhaps see it as savings on marketing and leasing costs.2. Feasibility testing: Initial stage of research into likelihood the space could be used for something. Ideas are proposed {Grants or public funding}3. Community engagement: Really getting to know the local community, being a part of it, making the space for people to participate and contribute {Supported by grants, public funding, or sponsorship}4. Create demand for the space and the activities {Grants, public funding, sponsorship}5. Local economic activity & opportunity: A local economy starts to develop, income starts being generated. This is a nice time to ensure that facilitators and catalysts are rewarded for their investment of time {Income generation}6. Local economic growth moving towards sustainability {Sustained income, build equity to invest in further development or to sustain changes}7. New development/ expansion of activities in stages 1 to 6 {Investment}8. Continued economic activity + new income streams {Income generation, return on investment}March 2011
  17. 17. Whats Next?DEVELOPING IN TRUST starts with gathering a community, ideas, andenergy. Think about what services people want and are willing to pay for – thengo and ask them!Include investors and people will access to resources early in the conversation,but be creative about how to fund stages 1 to 6. Investors do not get interesteduntil after demand is evident.March 2011
  18. 18. Whats Next?To find out more and to connect with other organisations aiming to achieve thesame goals:Please contact Bonnie Wong at Composition Advisory Limited on 07939 201855or bonnie@compositionadvisory.com.Thank you for your time and attention.March 2011

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