Are you blocking place value?

Places evolve. The addition of townhomes, multiplexes, and mid-rise building changes a neighborhood. The number people and proximity to each other grows. And, increased sales and transactions give the restaurants, pubs, and the dental office a better environment to be successful.

For some this change as a perceived loss to quality of life and decide to fight to preserve or exit. Others might translate more people and diversity of income levels and ethnicity of decline. When more people choose to exit than remain, decline is set in motion. And usually, the pattern is a loss of a grocery store, bakery, or significant employer.

Preservation is one of several practices usually offered as a way to stem the decline and drive value. While preservation is a critical practice to ensure assets are not removed, it cannot be the only practice for place development. Protection is generally used as a means to “arrest the decline.”

Place development seeks to interconnect people, culture, physical assets, and financial capital, allowing a place to be vibrant, connected, and inclusive. Because of the balance of creatives, critics, and tinkerers, anything that is torn down is replaced with something over equal or more excellent value to more people. Only preserve to position a place to become a magnetic destination.