In our white paper on Supporting the City’s economic growth and development pipeline, the City Property Association has identified four areas where increased flexibility and new ideas can help developers ensure schemes are viable and secure the financing needed to commence construction.
The paper explores how the complexity and length of time taken to deliver new major development, in addition to the increased cost of finance and challenging economic environment in which build costs have soared, is holding back the delivery of tall towers.
The Association has set out four key areas to ensure the continued viability of new development in the City of London, including:
- CIL: Introduce flexibility and phasing to CIL payments to reduce risk to delivery timelines and support pre-let agreements
- Cycling: Update cycle parking provision requirements to better reflect the use of bikes in the City of London and reduce the carbon impact of major developments.
- Culture: Offer greater flexibility in how cultural and amenity space is provided to boost viability and better support existing amenities.
- Construction: Explore options for promoting flexibility and circular economy principles within the construction process.
This paper has been developed with insight drawn from CPA members, including those who have submitted case studies or shared their expertise more broadly.
Read the full report
