Lessons from Canary Wharf
Lessons from Canary Wharf
Lessons from Canary Wharf
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<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
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