Lessons from Canary Wharf
Lessons from Canary Wharf
Lessons from Canary Wharf
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
<strong>Lessons</strong> <strong>from</strong><strong>Canary</strong> <strong>Wharf</strong>Howard DawberStrategic Advisorpatricia.beharry@haymarket.com
patricia.beharry@haymarket.com
CANARY WHARF ESTATE 1987Employment: > 0patricia.beharry@haymarket.com
CANARY WHARF ESTATE 2008Employment: 95,000patricia.beharry@haymarket.com
CANARY WHARF ESTATE 2020Employment: 200,000patricia.beharry@haymarket.com
Foster + Partners / Gillespiespatricia.beharry@haymarket.com
patricia.beharry@haymarket.com
patricia.beharry@haymarket.com
patricia.beharry@haymarket.com
patricia.beharry@haymarket.com
patricia.beharry@haymarket.com
What has <strong>Canary</strong> <strong>Wharf</strong> achieved? Shifted London’s s economic focus Helped save City of London £720m local contracts Bedding down economically and emotionally 12,000 housing units planned of which7,000 completed 95,000 jobs – second largest businessdistrict in Europe 23% eastenders employmentpatricia.beharry@haymarket.com
patricia.beharry@haymarket.com
What it has NOT achieved Has not solved issues of poverty inEast End – cf: : Olympic 10,000 jobs Aspirations and qualifications still low Traditional mindset of City / WestEnd: reputation still fragile Nearby developments still find ittoughpatricia.beharry@haymarket.com
Things we did wrong Launched 4.5m sq ft in one go Transport not in place Believed our own marketing: “Lookslike Venice, works like New York” Expected business to act logically Ignored tourism / wow factor Went into administrationpatricia.beharry@haymarket.com
Things we did right Launched 4.5m sq ft in one go Local engagement – Peter Wade Interface between retail, open space,transport and commercial Quality and attention to detail Flexibility and active management Unique structure – one company todevelop, market, build, manage and own Lateral thinking – coffee not Maseratispatricia.beharry@haymarket.com
patricia.beharry@haymarket.com
patricia.beharry@haymarket.com
patricia.beharry@haymarket.com
patricia.beharry@haymarket.com
patricia.beharry@haymarket.com
<strong>Lessons</strong> for GovernmentThink the unthinkableBe open to new ideasGovernment is better at policy and maybeinfrastructurePrivate sector is better at economics, design,development, construction and marketingLDDC was a good model “one stop shop”– money– planning power– land ownership– could do dealspatricia.beharry@haymarket.com
What the private sectoris good at Thinking like the private sector Networks Speed and decisiveness Risk-taking Vision / thinking outside the box Real-worldpatricia.beharry@haymarket.com
Five principles1. Regeneration is about people and places,not buildings – emotional as well asfinancial2. Demands change as you go on – plan forfuture users as well as original residents3. It’s s like a heart transplant – invasiveprocedure followed by recovery andbedding downpatricia.beharry@haymarket.com
Five principles4. Take the community with you – behonest and manage expectations5. Remember the coffee and theMaserati dealershippatricia.beharry@haymarket.com
Change language