The inclusion of residential development within the new Bristol Temple Quarter Enterprise Zone should play a key role in assisting inward investment for the city, claims one of the city’s leading property advisers. Gordon Isgrove, director at GVA, says the Enterprise Zone should look to Bristol’s Harbourside for inspiration on how to achieve the 24 hour city.
“The inclusion of residential development has proven benefits in the creation of successful economic regeneration areas,” observes Gordon.
“The new Enterprise Zone has laid out its vision of being a hub for creative and digital industries. I would urge those planning the Zone not to overlook the benefits of including an element of residential uses to create a truly mixed use, and creative development.”
He points to Bristol Harbourside, Temple Quay 2, as well as innovative re-use of old buildings at Paintworks, as examples of where residential has been used to spur on economic activity.
“Residential brings with it the opportunity to create a 24/7 environment, not a mono-zone which closes at 6pm and at weekends. Security around the employment areas is helped with active use during out of work hours, and local housing can be supportive to employment prospects.”
“The Enterprise Zone has been established for employment generation and investment, and is looking to create around 17,000 jobs over the next 25 years; yet it’s been suggested that the creative and digital sector may not be in a position to generate sufficiently high property values to support major new development. This further adds to the call to include a wider mix of uses.”
He continues, “The 70 ha site, which includes the north shore of the Feeder and floating harbour, presents an unrivalled opportunity to create value from residential uses within the area to help achieve a truly mixed use, and assisting in the delivery of infrastructure and public realm improvements. The success of the Enterprise Zone will not just be the number of jobs it creates; it will be the establishment of a sustainable city quarter where people want to live and work and which will attract property investors over the long term.”