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Preserving Memory Lane

The whitepaper discusses the three main elements which successful regeneration of an urban area should fulfil. Among these it explores the continuation of collective memory, since urban areas in particular often contain buildings and spaces which serve as important emotional anchors for local residents. By retaining influential buildings or a certain architectural style, developers can still imbue residents with a sense of belonging and shared history, even in a newly built project.

The UK introduced legislation in the latter half of the 20th century to protect historic buildings and areas. Places such as Covent Garden and Soho are good examples of this, retaining their sense of history while still keeping step with the times. When it comes to China, legal protection of areas is a relatively new concept, but in recent years developers have increasingly begun to follow this path of their own accord. For instance, the use of a specific street size and style in Taikoo Li Chengdu were designed to strengthen the collective memory of the old city for local Sichuanese.

Keeping the Spirit Strong

The second element that the whitepaper explores is the idea of preserving the spirit of a site. As urbanization proceeds from an era of incremental development to one of optimizing existing stock, industrial site renovation has become a centerpiece of urban renewal. Sites which would once have been considered an eyesore are now being repurposed and celebrated.

In the UK, London's Battersea Power Plant was partially preserved and renovated, since becoming home to some of the world's tech giants. In China, the 798 Art District and 77 Theatre complex in Beijing, and Shanghai's Dream Center and Cool Docks, have all been transformed from industrial sites into areas of cultural innovation which proudly display their industrial roots. These renovated industrial sites have preserved the original urban texture, while also providing fertile soil for cultural innovation and creativity.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2017, JLL had revenue of $7.9 billion and fee revenue of $6.7 billion; managed 4.6 billion square feet, or 423 million square meters; and completed investment sales, acquisitions and finance transactions of approximately $170 billion. At the end of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of 82,000.  As of December 31, 2017, LaSalle had $58.1 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit  www.jll.com. 

JLL has over 50 years of experience in Asia Pacific, with over 37,000 employees operating in 96 offices in 16 countries across the region. The firm won the ‘World’s Best’ and ‘Best in Asia Pacific’ International Property Consultancy at the International Property Awards in 2016 and was named number one real estate investment advisory firm in Asia Pacific for the sixth consecutive year by Real Capital Analytics​.​​ www.jll.com/asiapacific  

In Greater China, the firm was named ‘Best Property Consultancy in China’ at the International Property Awards Asia Pacific 2016, and has more than 2,200 professionals and 14,000 on-site staff providing quality real estate advice and services in over 80 cities across the country​​.  www.joneslanglasalle.com.cn​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​