Assessing Synergies for Neighbourhood Development.
Developments and communities that attract and retain users, tenants and residents over the long term do so by utilising the benefit of synergies in commercial, community, and residential uses.
Planning for a major site begins with determining what market support exists for alternative uses. However, market analysis provides only guidance about demand for certain types of land use.
Synergy is generated where an individual, company or organisation is voluntarily or in-voluntarily part of a group that uses network behaviour to create economic and social (community) benefits to the parties involved.
Synergy refers to a situation where the effect of two or more co-operating or combined bodies or functions is larger than the sum of each body or function. The concept of networks is strongly linked to the notion of synergy, however recognition of synergy raises the performance of a network through efficient and effective interaction.
Applying synergy analysis can attract significant investment to a property development project as the development options subsequently identified can sustain the land use over the long term.