What does a social function really deliver? In a system where euros tend to outweigh meaning, what can be calculated usually counts most. Yet for anyone still in doubt: culture, sport and green space deliver far more value than you might think.
In urban development, there seems to be an insatiable urge to measure the return on investment of social and cultural functions, preferably in hard euros. But chasing those numbers is not the holy grail. Because the truth is: there is always a return. It just depends on what you choose to measure.
What does a cultural or social function really contribute? That question keeps circling in our field. Strange, when you think about it. I’ve never heard anyone in real estate ask about the ROI of yet another coffee bar, hotel, retail chain, or even a cash machine. But the moment it’s about a cultural facility, a community centre, a creative hub or a football pitch, suddenly the value needs to be proven. And preferably in numbers: visitor counts, daily turnover, euros per square metre.
The rare studies that do attempt to put a monetary value on culture, sport or green space are therefore eagerly embraced. Take the Rebel Group’s research from a few years ago: every euro invested in a creative hub generates an average of €24 over fifteen years. Mostly indirect, sure, but still. In a system where euros outweigh meaning, what matters most is what can be counted.
So, for anyone still in doubt: culture, sport and green space deliver more than you think.
But you don’t need complicated research to see the tangible added value of these places. Just look closely. Last month, the Dutch daily Trouw featured an interview with Marian Duff, founder of the Open Space Contemporary Art Museum (OSCAM). Marian is without question one of the most innovative voices in the Dutch museum sector. Her museum is located in the Amsterdamse Poort, a shopping centre long known as forgotten and run-down. Today, thanks to OSCAM and others, the area is buzzing with new energy and optimism.
Together with initiatives like the Foundation Hip Hop Centre and The Black Archives, OSCAM is giving the Amsterdamse Poort new vitality. The benefits go far beyond national media coverage. They bring new audiences, jobs and talent development. Their evening programming increases the sense of safety, and major retailers are once again showing interest in renting space. But most importantly, these organisations tell a powerful and hopeful story about what Amsterdam Zuidoost already is and what it can become. They are a catalyst for pride, visibility and renewal. And yes, for those who insist on thinking in euros: their impact also translates into more tenants, less vacancy and rising property values.
And that is just one example among many. Museums, theatres, creative incubators, community centres or sports grounds all give meaning, value and relevance to a place for everyone who lives, works, dreams, plays or simply hangs around there. The only question is how you choose to measure that value.
So let’s be clear: the real question is not if we should invest in culture, sport and green space, but when we start.
This column is an adapted translation of the original piece, first published in Dutch on Gebiedsontwikkeling.nu.