The Earls Court site is the home of the former Earls Court Exhibition Centres and Lillie Bridge Depot. The Earls Court Development Company (ECDC) appointed RealWorth to measure the social value of the activities associated with the regeneration process. This included the impacts of meanwhile activities, community programmes, master planning and the establishment of development on the site.
This long-term appointment seeks to integrate social value into a wide range of functions conducted by ECDC during planning, design, construction, and occupation phases of the development.
For the initial piece of work RealWorth measured the social value of the Summer 2021 Meanwhile Programme. The Programme was produced by Underbelly and known as the London Wonderground. The events encompassed an amusement park and a music and arts festival. RealWorth conducted a survey to ask local community members how London Wonderground had affected how they felt about their lives and their neighbourhood. Responses were analysed to determine the monetised social value of the Programme. RealWorth also measured the social impact of employment at the festival.
RealWorth was subsequently asked to help ECDC to define and implement its social value strategy. This included authoring a social value charter and defining a set of KPIs to measure performance. The Charter (part of a wider Sustainability Charter) included a definition of social value, objectives, and measurable indicators for issues such as engagement, procurement, master planning and new development. The KPIs will be used to track performance against the objectives throughout the development process.
The team is also collaborating closely with designers to understand and maximise the social value of the new development of the site. This process starts with a workshop between RealWorth and the design team to discuss what the potential benefits to local stakeholders, and how these can be maximised. In addition, RealWorth will be producing quarterly reviews and annual social value reports. The 2021 Social Value Report has been completed, and further data collection measures are being developed to feed into the next report in 2022.