IPUT’s Wilton Place scheme to be living lab for social impact

IPUT Real Estate, the Irish property company, has announced the launch of Making Impact, one of the world’s first studies to measure social impact in the built environment and the impact of placemaking in a city neighbourhood over a five-year period.

IPUT, the largest owner of offices and logistics assets in Dublin, has appointed three international placemaking and design agencies – Hassell, PRD and Gehl – who will collaborate to assess the social, economic, environmental and cultural impact of placemaking at its Wilton Park development in Dublin 2.

Wilton Park is a 600,000 sq ft mixed-use scheme scheduled to be completed by the end of 2023. The estate incorporates 580,000 sq ft of offices and 20,000 sq ft of F&B space surrounding a one acre city park and a new streetscape.

“Wilton Park is an opportunity to create an inclusive, vibrant, and sustainable neighbourhood that will engage with the wider community,” said Niall Gaffney, CEO, IPUT Real Estate. “As custodians and stewards of this historic part of Dublin city, we are passionate about understanding the impact of our investment in placemaking on Wilton Park and our neighbours.”

The group believes that placemaking plays a central role in attracting best-in-class occupiers to its buildings, driving long term shareholder value and making a positive contribution to the neighbourhoods and communities where it invests for the long-term.

“At the recent World Economic Forum in Davos, social value was identified as being key to unlocking successful urban transformation and collaboration between the public and private sector,” said Maria Hunt, head of research, IPUT Real Estate. “This ground-breaking piece of research will have global applications. We want the quality of the regeneration at Wilton Park to be an example for successful public and private sector collaboration on a global scale.”

There is a growing body of evidence that shows the value of placemaking but few studies have been undertaken at this scale, said Camilla Siggaard Andersen, research lead, Hassell: “We feel that this project has the potential to set a new benchmark for placemaking quality and accountability in the commercial real estate sector, and become a source of knowledge and inspiration for developers and city architects worldwide.”