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The 15-Minute City concept gains tracking.

The 15-Minute City Concept Gains Traction

The-15-Minute City concept is gaining traction around the world as a placemaking tactic and means to enhance quality of life.   Although “city” is used in this coined term, this planning concept is more about a focus on livable neighborhoods and districts.

 

The “15-minute city” is a term for urban design and master planning wherein it is possible to meet the basic “needs of living” within a 15-minute walk or bike ride from a person’s home.  The needs of living include such services and amenities as:

 

  • Places of work, or, at least a coworking venue;
  • Grocers;
  • Pharmacies;
  • Schools for children, youth;
  • Health care or medical facilities, or simply, doctor and dentist offices;
  • Recreation, leisure and/or green spaces; at least a pocket or linear park;
  • Cultural venues;
  • Mass transit accessibility;
  • Affordable housing is assumed;
  • Flexible zoning to allow places with different day-part uses, such as local school facility that can be a community gathering place at night or on weekends; and
  • Places of worship are seldom mentioned as part of the 15-Minute City concept, but such places may be among the most successful community-building forces that have existed.

 

 

The planning term was first coined by by Prof. Carlos Moreno, a professor at Sorbonne University (Paris, France).  Prof. Moreno is the director of entrepreneurship and innovation at The Sorbonne.  Though popularized by the professor, the 15-Minute City concept itself  has been explored in major cities throughout the world from Melbourne to Portland, prior to its burgeoning popularity as an planning concept.

 

During 2020, the 15-Minute City concept has surged in interest as a sturdy planning concept alongside the increasing acceptance of coworking facilities and communities.   Coworking venues situated in close proximity to homes simply adds an additional destination within a 15-minute “neighborhood” that is vital within a 15-minute radii.

 

The 15-Minute City concept is a multi-faceted placemaking tactic.

Another aspect of making the 15-Minute City concept workable is the presence of affordable housing within each 15-Minute City cluster.  Many neighborhoods and districts around the world may work well for most required services and work places, but do not have the array of housing choices necessary.

 

Integrating the 15-Minute City concept with allied planning concepts is particularly interesting to local governments charged with numerous quality of life objectives and economic development initiatives.   A 15-Minute City imperative, as an example, is also deemed helpful in reducing the use of fossil fuels (vehicles), fighting carbon emissions, and thereby fighting climate change.  Also, applying the 15-Minute City thresholds of accessibility also advances the objectives for some groups in reversing local zoning codes to allow increased affordable housing options and thereby, more diversity, inclusion, and social justice.

 

The 15-Minute City concept has created such interest that purpose-built apps have been created to evaluate any particular location for 15-Minute City thresholds. Here Technologies (Eindhoven, Netherlands) is one such company that has created this kind of threshold’s map to answer the question – Do You Live in a 15-Minute City? We expect that the 15-Minute City parameters and software applications that track such notions, will join similar concepts as a niche investment asset class among those pursuing environmental, social, and governmental investments (so-called ESG Investing).

ACE Act for conservation

Conservation Act Passes Congress, Now Heads to President’s Desk

SCP’s The Growth Monitor

 

In a bi-partisan vote, a next conservation act has passed the U.S. Senate.   The unanimous vote in the Senate pertains to America’s Conservation Enhancement Act, S. 3051 (the “ACE Act”), a package of natural resource management and conservation provisions.  The House of Representatives is expected to take up the legislation, and vote, as early as next week.

 

SCP Growth Monitor update on October 1 – the House of Representatives has approved the ACE Act by voice vote; now the legislation goes to the President’s desk for signing.

 

Consideration of the Ace Act follows passage in August 2020 of the Great American Outdoors Act, widely considered one of the landmark legislative achievements to protect America’s natural environment.

 

The legislation authorizes the National Fish Habitat Partnership, an endeavor that brings together local, state and federal partners to coordinate and conduct on-the-ground aquatic habitat restoration projects for the benefit of recreational fishing.   The ACE Act also reauthorizes and boosts funding for programs critical to the health of the Chesapeake Bay, the nation’s largest estuary and a critical nursery for sport fish throughout the Atlantic region.

 

As the bi-partisan Conservation Act passes Senate consideration, attention now focuses on regional benefit.  The ACE Act is expected to be a strong boost to recreational economic development in the region.  The Chesapeake Bay is the largest estuary in the U.S., and is also a critical sportfish nursery for the greater Atlantic region.

real estate expert witness - Global Real Estate Consultants

Sovereign Wealth Funds Get Their Test in 2020, Aiding in Covid-19 Pandemic Relief

To be sure, sovereign wealth funds (“SWF’s”) have gotten their test so far, in 2020.  As the COVID-19 pandemic has decimated the global economy, country economic downturns have created possible calls for draws on SWF reserves.  As well, the economic troubles have also hit the investment returns of many of these SWF’s, reducing the projected (hoped for) enhancement of portfolio asset values.   Such a time.

 

Norway’s GPFG has reported a negative return (loss) of -3.4% for the first half of 2020, a loss of $21.3 billion.   Bahrain’s will draw $450 million from its FGRF sovereign fund to provide funds for the state’s general budget.   New Zealand’s Superannuation Fund managed to achieve a 1.73% return for the year ending June 30, 2020, although since the fund’s inception it has returned an impressive 9.63% per annum.  Iran is using its SWF funds to stabilize Tehran stock exchange.

 

Generally speaking, these SWF’s were formed over the years to capture current wealth for use by future generations.   A great many of the funds were literal monetization transfer methods, where a portion of national oil and gas revenue (wealth) has been transferred into a country SWF.  Investment from any particular SWF have first been intended to build these reserves for the benefit of those to come.

 

For 2020, the existence of these SWF’s has been a helpful resource to provide funds at an unusually critical time, to stabilize national economies.    Tapping into held sovereign funds for “rainy day” purposes was always a possibility, but not a welcomed eventuality.  Norway will withdraw a record $37.72 billion from its SWF to address Pandemic impacts to the nation’s budget, and intends asset sales as part of this withdrawal.  Indeed, sovereign wealth funds have had their test in 2020.

 

Looking forward to the balance of 2020, we shall see how the 2020 pandemic impacts new SWF formations, in Indonesia, Oman, Israel, Mozambique, and South Africa, among other nations.   Within the U.S. and Canada, our many indigenous sovereign Native / First Nations are also facing particular financial stress this year, with operating asset revenues significantly down and available reserves at risk.  In discussions about SWF’s, these sovereign Native / First Nation tribes and pueblos are often neglected.

 

SWF formation has seen significant activity over the past decade, with just under 100 new national SWF’s getting their start.

Sovereign Wealth Funds Get Their Test in 2020
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