The report was included in the second planning submission for the student village to demonstrate the benefit the development will bring to the community during construction and over the next 25 years.
To calculate the social value on the project, Faithful+Gould partnered with Social Profit Calculator, a company who have created a digital tool to measure Social Value and Social Return on Investment (SROI). With this tool, Faithful+Gould estimated that Clive Booth Student Village will deliver £261.3M of social value benefit, bringing £104M to the local supply chain and creating 360 new jobs. The report concluded that for every £1 spent on the project, £2 will be returned to the local community.
Peter Masonbrook, Head of Social Value at Faithful+Gould, said: “If we can quantify a project’s social value, we can help shape the way communities and councils view new developments. Social value should be a critical component of the planning process, and our work with Oxford Brookes University demonstrates how important it is to calculate social impact at the earliest stages of a project.”
Clive Booth Student Village looks to not only provide a positive student experience but to relieve the pressure on local housing by providing students with high-quality accommodation on campus. The development also aims to reduce the burden on local transport by encouraging students to walk and cycle given the site’s close proximity to the Headington Campus.
Once complete, Clive Booth Student Village will provide 573 new rooms for students, a welcome centre and a nursery on the periphery of Oxford city centre. If planning is granted, work is expected to begin from September of this year.
The report is part of Faithful+Gould’s commitment to putting social value at the heart of every project and providing clients with real and measurable social value outcomes.