Delivering genuine social value is at the very heart of our Glenvale Park development. But what exactly is it?
Backed by government legislation and accredited bodies, social value is an evolving concept which allows developers like us to calculate the positive impact a development can have on a local community. It is broken into social, economic and environmental factors, all of which contribute to the overall social value that a development can offer.
But delivering genuine social value is much more than just generating a number.
A deep dive into social value – what does it really mean?
There is little dispute over whether new developments can, and should, bring with them a financial value to the community within which they build. Be it through the creation of construction apprenticeships, or the volume of carbon dioxide offset through tree planting, social value has become a valuable measurement in calculating how a development can have a positive impact on society. It allows developers like us to look at what we could do better and where we can further add meaningful value to the local community.
Although numbers are important, there is an equally valuable way of looking at social value, which focusses more on the ongoing commitment to establish a positive environment for local communities to thrive in. What does this look like in practice?
Take the example of our planned community hub. There might be a specially negotiated room rental for a charity or community group, meaning there’s a simple and direct monetary value that can be measured. However, it can be so much more than that – the space can be used for a jobs fair resulting in a reduction in local unemployment, or for a charity that enables volunteers to gain experience and strengthen a university application. All are opportunities that we can seek to bring to the community through building partnerships with local organisations.
Sports pitches are being provided at Glenvale Park which will directly benefit local clubs, but the impact will also extend to the social value of forming friendships, strengthening communities, and building the foundations for a healthy lifestyle.
What’s more, opportunities for environmentally focussed educational programmes can be the key to inspiring a future generation of conservationists and ecologists.
The opportunities for generating social value from new development like Glenvale Park are plentiful. But we need your help!
Get involved
Social value can be a powerful tool in identifying how a development can generate environmental, economic, and social benefits for communities like Wellingborough.
However, the biggest value will come from long term investments in the community and the positive impact developments such as Glenvale Park can have far beyond the final house being built.
As part of our ongoing commitment to the community, we’re keen to hear from businesses, charities and local groups who would like to know more about how the development can benefit them and how we can work together for a positive outcome for Wellingborough and beyond.
If you would like to know more about how you can get involved, please get in touch with us by visiting our contact page.
