It is well known that some urban areas can deteriorate over time. Either it’s because of heavy use or they’re simply insufficient for the people using them.
However, there’s a movement pushing back against this trend. It’s called neighborhood renewal and it is in operation across many of the world’s principal cities.
The way it works is pretty simple. The idea is to form communities of people at the block and district level and then allow them to vote on the improvements that they would like to see in their neighborhoods. Then, eventually, local planners and authorities will stump up the money to make the required changes.
As the following infographic shows, there are all kinds of ways that properties can be improved. At the block level, for instance, there are provisions for things like new letterboxes and tiled lift lobby areas. There are also new seating options and other improvements, such as communal areas where residents can gather.
At the precinct level, there are improvements too. In Singapore, for instance, residents can ask for new sports facilities, drop-off bays for delivery cars, mopeds and vans, and playgrounds.
The hope is that by offering these renewal improvements, residents in social housing will be able to achieve a higher quality of life. These projects are a major opportunity for local businesses looking to build their revenues and improve their incomes.
Take a look at the following example of a neighborhood renewal program in Singapore. This infographic explains how it operates and the kind of upgrades residents can apply for.
By PropertyGuru Singapore