The HAI project is a 2.5-year study due to finish at the end of 2019. The intention of the project is to develop an approach and process to value and integrate social and environmental benefits into Swedish regeneration programmes.
The social value return predicted for this case study was 1:0.7
Ultimately, the work will influence the way guidance is issued to decision-makers seeking to improve community cohesion in Swedish towns and cities by increasing the social value from private and public investment. The work is intended to understand existing Swedish valuation models and build on them by integrating the RealWorth Sustainable Return on Investment (SuROI) approach through knowledge transfer and practical application. The project commenced with a RealWorth project in the UK as an illustrative study based on the Castle House Regeneration Scheme in Sheffield. The project then moved to a number of Swedish case studies to test the approach in the field. The first two of these have been completed; Rosengård and Botildenborg, both in Malmö.
Rosengård Centrum, Malmö was a redevelopment of peri-urban commercial hub in an area housing a high percentage of first-generation immigrant families. After conducting focus group survey work, the results of the social value calculation showed a 1:2.1 social return on investment. Recommendations included improved stakeholder identification and engagement, the need for a more thorough baseline review of the underlying socio-economic data sets, and better use of Swedish financial proxy values.
The third case study was also situated in Rosengård. Botildenborg was a residential scheme by developer BoKlok (a joint venture between Ikea and Skanska). The scheme also included the enhancement of a nearby park. The work involved a stakeholder survey meeting, and the collection of the socio-economic background to the surrounding area. Swedish data on indicators and proxies was also increased for this case study. The social value return predicted for this case study was 1:0.7.
The remaining case studies include an evaluation of an affordable housing retrofit project designed to improve the lives of tenants in Malmö, and a new settlement of the edge of the city of Lund. These will involve increased contributions from the Swedish HAI team and the developers involved with the intention of providing all of the knowledge and skills required to conduct future social value investigations in a Swedish context independently of RealWorth.