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On Value Lab

In the coming years the governmental need for (office) space will reduce, causing an excess of nearly 700,000 m2 real estate in the city of The Hague. Selling each of these buildings individually increases the existing vacancy problem. However, considering this issue on a different scale, these buildings offer opportunities for an area-based strategy. A strategy in which the divestment of government buildings creates social added value in addition to financial returns. The hypothesis of this study is that sale or conversion of (public) property offers better value if it happens against a background of other government objectives such as... Read More

In the coming years the governmental need for (office) space will reduce, causing an excess of nearly 700,000 m2 real estate in the city of The Hague. Selling each of these buildings individually increases the existing vacancy problem. However, considering this issue on a different scale, these buildings offer opportunities for an area-based strategy. A strategy in which the divestment of government buildings creates social added value in addition to financial returns.

The hypothesis of this study is that sale or conversion of (public) property offers better value if it happens against a background of other government objectives such as quality of life, accessibility and competitive strength. Therefore, we need to know which values are already present in an area: a combination of property values, and architectural, scenic, ecological, social, logistical, cultural and historical qualities. These different qualities have been mapped and stacked into a three-dimensional landscape.

Peaks indicate the presence of multiple qualities: the result of past efforts and investments. Buildings in these areas will draw plenty of attention of private investors. Within set frameworks this real estate can be sold quickly. Sloping areas can profit from nearby peaks when small investments create multiplier effects for future developments. In the valleys fewer qualities are present, making them less attractive for private initiatives. Here, initial efforts and public investments will result in larger returns later on. Using this strategy will result in a positive balance of costs and benefits.

The case studies focus on The Hague’s identity as International City of Peace and Justice. All design interventions have been instigated to improve and utilize this character. Based on the value landscape, these proposals range from large- scale investments – improving the security of certain areas increasing their attractiveness to international institutions and companies – to low-cost marketing campaigns raising awareness of found qualities to investors.

Read more about this project in this publication.

 

FACTS
Location: The Hague International Zone
Program: Design Research
Client: City of The Hague, the Central Government Real Estate Agency,
Ministry of Infrastructure and the Environment, Ministry of the Interior
Year: 2014
Collaborators: Braaksma&Roos Architects, DELVA Landscape Architects,
Witteveen+BosAlterra, Koos Bosma (VU CLUE), Hilde Remøy
and Theo van der Voordt (TU Delft Real Estate & Housing)

 

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