At Hayball, we believe that social value is the wellbeing generated through the places that we co-create with, and for communities.
Social Value Pilot Study
We believe that decisions made by an architect have a fundamental impact on the wellbeing of those who inhabit the space. However, to demonstrate and evaluate how our design decisions influence the wellbeing of people and communities, architects need measurable data.
Currently, Australasian architectural practices do not have an established method to measure the social value of projects. There is an opportunity for architects to develop a framework and methodology to benchmark social value outcomes against the design. This will provide evidence and help the industry better understand why embedding social and wellbeing principles in the design of a project is worth the investment.
This pilot study was undertaken on CRT+YRD, one of six residential buildings in the multi-award winning Nightingale Village, in Brunswick, Victoria.
Hayball partnered with Australian Social Value Bank (ASVB) to develop the framework, surveys and formula to monetise the social value outcomes that we intended to achieve through our design. In addition, members of the Property Council of Australia provided guidance and support throughout the process.
This report brings together a summary of our results from our pilot study which proposed a method to measure the social value of a project through qualitative, quantitative and monetised data. It outlines our methodology and key findings, and concludes with recommendations for architects.
Access our Social Value Pilot Study here.