Partnership, investment, place and housing were the common themes at a recent seminar co-hosted by Social.
Organised in collaboration with The Good Economy and Trowers & Hamlins, our recent ‘Place-Based Investing Meets Housing’ seminar in Manchester brought together senior figures from local and combined authorities, housing associations, investment funds, local government pension schemes, and sustainable developers.
Taking place less than a week after the general election, the event was brimming with optimism, rich discussions and shared visions for the future.
Unpacking the economic landscape
The seminar kicked off with a deep dive by independent think-tank Resolution Foundation into the current economic landscape, exploring both challenges and opportunities. We discussed the critical importance of linking transport, infrastructure, and housing to foster a new, robust economy. The message was clear: to think big but local and innovate for the future.
The housing market: Present and future
Housing market insights from JLL triggered discussions on the housing market highlighted where we currently stand and, more importantly, where we need to go. The focus was on ensuring the right homes are built in the right places, addressing both supply and demand with precision, foresight and realism.
Defining good Place-Based Impact Investing
A significant portion of the seminar was dedicated to understanding what good PBII looks like. From Victoria North to Pendleton, the importance of strong leadership, a robust local supply chain, and the involvement of SMEs was emphasised. We examined successful partnership models and joint ventures that are making a tangible impact on local communities.
Investor insights and innovative models
We had the privilege of hearing from various investors about their models and approaches. The Greater Manchester Pension Fund highlighted how residential and local place investments can be effectively managed. Additionally, we learned from Resonance Limited about the profound impact of well-executed homelessness funds and the integration of social impact within institutional investment strategies.
Envisioning future partnerships
The seminar concluded with a forward-looking discussion on what the place-based partnerships of the future might entail, drawing examples from Trafford to Barking. The consensus was that the future is local, and with the right devolution and powers, place-based investment can thrive and drive substantial positive change.
Key takeaways
Reflecting on the seminar, several key takeaways emerged:
- The future is local: Advocating for the right kind of devolution and powers is crucial to enable the place-based investments of tomorrow.
- Potential of local government pension funds: These funds hold immense potential to invest in their own communities, with some already leading the way.
- The time is now: We have proven models, evidence, and success stories that can be replicated or adapted to various locales.
- Shared ambition and purpose: There is a collective drive across housing, local government, and the investment industry to make a meaningful impact.
- Power of relationships and partnerships: The true strength of place-based approaches lies in fostering strong relationships and partnerships.
- Scaling up successful models: There are ample opportunities to replicate and scale successful local initiatives.
- A new government opportunity: The early days of a new government present an ideal moment to spotlight place-based approaches and share these success stories.
At our organisation, we aim to ignite conversations that drive positive social change. This recent seminar was a testament to that mission, bringing together diverse stakeholders to explore and champion the transformative power of PBII in housing.
Understanding Place-Based Impact Investing
Place-Based Impact Investing (PBII) is a strategic approach that focuses on generating social, economic, and environmental benefits within a specific geographical area. The PBII Project, led by The Good Economy, has been instrumental in advancing this concept. By aligning investments with local needs and opportunities, PBII aims to support equitable and sustainable development, contributing to initiatives such as the formally titled Levelling Up agenda.
The seminar underscored the critical role of PBII in shaping the future of housing and community development. By leveraging local knowledge, resources, and partnerships, PBII can drive impactful investments that resonate with the unique characteristics and needs of each place.
Our ‘Place-Based Investing Meets Housing’ seminar highlighted the immense potential of place-based strategies to create thriving, resilient communities. With continued collaboration, innovation, and commitment, we can harness the power of PBII to build a better future for all.
At Social, we are dedicated to place-based initiatives by fostering strong local partnerships, leveraging strategic investments, empowering local leaders, and addressing housing and infrastructure needs. From our work on The Y Health report, which emphasises local engagement and collaboration to address health and social inequalities, to our report for The Good Economy in 2021, which introduced place-based investing to the investor community, our goal is to create thriving, resilient communities through tailored, innovative solutions that align with local needs and opportunities.
Please get in touch to find out more hello@social.co.uk.