That’s why over the past year, we’ve been working on a tool that measures the Social Return on Investment of our developments, aiming to better understand what our impact truly is.

After undertaking extensive research, including workshops, data collection and analysis of best practice, we were able to distil our findings down to six core areas of focus, which became the basis for our tool:

• Improving the quality of the public domain
• Contributing towards healthy and active living
• Improving community cohesion and interaction
• Enhancing local identity by providing places of cultural heritage significance as well as arts and culture programs
• Investing in construction projects that generate acceptable returns for the economy
• Investing in projects that can enable sustainable ongoing economic activity

Having collected data from across the business, we have been able to create an internal tool entitled ‘Social Change–Understanding the Social and Economic contributions of Mirvac developments’. This will predict certain economic and social outcomes for new projects. We have also been able to develop a clear roadmap for information we know we need to gather going forward.

Our plan is to share the findings of our research in external reports during 2015. Our aim is to also really delve into some of the more specific drivers for increased impacts, to start to improve our data collection and continue to analyse new projects going forward