One of the most important things in the placemaking planning process is local community engagement. Ensuring diversity, inclusivity and (pro)active participation from the local community could pose as one of the biggest challenges. Funding could also be something we should monitor, as limited financial resources may impact the scope and scale of the project. From the investor’s perspective, striking a balance between economic viability and creating attractive spaces is crucial. With the increasing importance of sustainability, the ongoing challenge lies in mitigating the need for economic development with environmental sustainability. Placemaking initiatives need to prioritize eco-friendly designs, green spaces, and energy-efficient infrastructure.
Placemaking initiatives can contribute to economic development by attracting businesses, creating job opportunities, and boosting local economies. Well-designed public spaces can serve as catalysts for commercial and cultural activities. In addition, the trend towards mixed-use development, where residential, commercial, and recreational spaces coexist, provides opportunities for creating vibrant and self-sustaining communities.
In my view, the placemaking industry is gradually becoming one of the pivotal aspects when speaking about urban cities and communities. Urban spaces that consist of residential, leisure and a blend of work could attract more international companies and tourists and consequently boost the overall industry of the city/community. One of the best examples that reflect this approach is Time Out Market in Lisbon, which I visited during the first Across Study Tour.
Nemanja Bućinac
Nemanja Bućinac is Retail Executive.
