Making commercial real estate 10x easier with my 20+ years of experience | Commercial leasing expert | Founder @RPG Estate | Served over 250 clients
10+ years in real estate have shown me the irony of urban development- cities focus on skyscrapers while ignoring the untapped value of public spaces at street level. A recent World Bank report shows that cities are missing out on up to $300 billion in economic growth by not using their public spaces effectively. These spaces make up about one-third of a city's land, offering a huge potential for development. But why do cities struggle to leverage these spaces effectively? 1. Poor urban planning 2. Financial constraints 3. Competing priorities in rapidly growing cities As a result, our public spaces often degrade into congested, polluted areas that drain resources instead of creating value. The irony of urban development is that as we build up, we're ignoring the untapped value at street level. However, some forward-thinking cities are bucking this trend. For example, Copenhagen, which focuses on green public spaces, and Melbourne, known for its innovative urban design, are investing in connected, inclusive public spaces. Having spent over a decade in the real estate industry, I’m amazed at how much potential our public spaces hold—potential that remains largely untapped. Here’s how we can change that: 📌 Build collaborative partnerships where government, businesses, and local communities work together, aligning resources to achieve shared goals. 📌Develop targeted policies that address the specific needs of each area, focusing on practical, sustainable solutions that promote inclusive growth. 📌Establish long-term plans for funding and managing public spaces, ensuring they are well-maintained and continue to benefit the community over time. As someone who's seen the impact of well-planned spaces, I'm excited about the possibilities. Imagine the transformation we could create in our cities by reimagining these public assets! What's your experience with public spaces in your city? Have you seen examples of innovative use? Share in the comments below! #Urbandevelopment #realestate
