Our resilience is being put to the test, but the property industry will rise to the challenge, says Stantec principal Grant Holman.
“The Covid-19 crisis is challenging everyone – individuals and families, businesses and communities, industries, asset classes and entire nations – to adapt and evolve,” Holman says.
“Virtually no one on the planet has been through such a worldwide cataclysmic event as this before. It will build our strength of character and resilience – and our threshold for challenge will rise,” Holman says.
The characteristic of resilience – whether in a person or a property asset, a community or a city – is the ability to survive, adapt and grow despite acute shocks and chronic stresses.
Self-reliance is a key ingredient of resilience, and rapid adaptation to business-not-as-usual is propelling people towards self-sufficiency, Holman says, pointing to remote working and kitchen gardens as obvious examples.
“I think we can expect to see a shift towards more community self-sufficiency – buying local for example – as well as more emphasis on sovereign resiliency that builds capacity in our local supply chains.
“But a resilient community is one where no one is left behind. Lifting our resilience capability can’t mean that we disconnect from those who can’t cope or can’t get over the challenges we currently face.”
Rebounding from Covid-19 presents new possibilities to infuse resilience into the way Australia’s property industry creates communities by focusing on areas that make us collectively stronger, Holman says.
Buildings are the backbone of communities, providing shelter and services, but the property industry’s bigger call to action is to foster the human connections. The deeper our connections, the better we are when disaster strikes.
While short-term value of asset classes may be influenced by the pandemic, Holman is confident that the industry’s ability to adapt will underpin its long-term value and resilience.
“Buildings last far longer than any of these shocks or cycles. Our best buildings are inherently resilient because they can adapt and change.
“The function of some assets will adapt and evolve, but the property industry’s role will remain secure. We are about bringing people together – as long as humans want to interact with humans, the property industry will survive.”
Stantec is an international team of designers, engineers, scientists and project managers, innovating together at the intersection of community, creativity and client relationships. Balancing these priorities results in projects that advance the quality of life in communities across the globe. Find out more about Stantec.