Economic RevitalizationReturns on
Investments; Returns for
Communities
Jeremey Newberg
So long Mr.
Schwartz.
I’m leaving.
Nowadays,
software’s
where it’s at.”
“We are neither software nor hardware. We are your parents!”
It Is Time To... Get Our Communities Back Into Shape
physically, economically, socially, politically and spiritually. Revitalize Economic Health
of Post-Industrial Communities Implement Strategies
to Increase the Capital Base of Communities Encourage Housing and Community Developers
to become Leaders in Economic Revitalization
Diagnose the Economic Health
of your Community• How do folks think of your Community?
• How is your circulation functioning?
• Are local businesses experiencing “Failure To Thrive” Syndrome?
• Is your region sprawling out from the center and leaving the core unhealthy?
• What steps does your community take to reach optimal performance?
Revitalization of the Economic Health of a Community:
A model that draws on the lessons learned of Housing and Neighborhood Revitalization practitioners where:
1. the Neighborhood is the Economic Hub in the Connected Age rather than a single employer
2. The focus is on cultivating creative, talented, industrious and entrepreneurial People who love being connected to your community.
Industrial Age
Economic Revitalization for the Connected Age
Only About Jobs
Creativity
Sustainability
• Jobs• Place• Quality of Life
Lean into the Shift: From Industrial to Connected
Age• The “New Normal” has lead to persistent unemployment due to super efficiency
from automation, global supply chains, cheap labor abroad and gridlocked federal government
• Big Box fatigue. We cannot consume our way back to prosperity• Knowledge, creativity and grit drive new businesses• Smart people can and do work from anywhere• Increased demand for housing close to where folks work• Interest in quality, denser living at a more human scale
Partners need to Re-define, Re-invigorate and Re-commit to the Practice of Partnership
to implement economic revitalization strategies.
No One Can Do It Alone
Deep Market AnalysisWhat are the assets to build upon that can anchor an Economic Revitalization Strategy in your Community?
Quantitative DataQualitative DataLegacy and Soul
The “Keystone State" refers to the central stone in an arch which holds all of the other stones together.
Legacy and Soul
Commercial Districts and Geography
1. Targeting existing businesses: – What do they do well? – What do they need to expand?
2. Targeting properties: “A Strategy for Every Property”– Do maps and databases align?– Keep what is good.– Rehab, demo and/or redevelop as needed.
Relationship Building for “Shared Investment and Shared
Prosperity”• Data analysis is a wonderful relationship building
opportunity
• Leaders and managers need a forum to share their stories
• A plan helps you say “Yes” and provides reinforcements for when you have to say “No”
Craft a Vision:Commercial Policy and
Brand• Build From Your Strengths and Soul
• What do you want to be known for and what will attract existing and new businesses to invest in your community?
• Know who you are and what you want to be and show what steps you will take to get there
Vision• How do you define Prosperity in the global, post
industrial, connected information Age?• How sustainable is going big? Have you considered
the upside of Get Smaller to Get Better?• What should be your community’s measurements
of success?
Strategies to Implement the Vision: Prioritize and Coordinate Investments
Marketing and Branding
Infrastructure
Quality of life services
Businesses
Work Spaces
Housing
Formalize Partnership Roles
and Responsibilities Business Political
Institutional Community Leaders
Marketing to Identify: Businesses Operators Developers
Raise Capital• Planning – Market analysis, relationship building
and professional services.• Marketing – To attract businesses and residents.• Build Out:
Acquisition and site preparationConstruction and permanent financingIncentives and Investments to reach target
businesses and uses
Capital for InvestmentsSeed Capital Deep Market Analysis Planning Acquisitions Site Preparation Strategic Marketing Incentives
Harvest Capital Build out the Projects
Housing Infrastructure Quality of Life Services Work Spaces Marketing Businesses
How Capital Access Facilitates Economic
Revitalization Strategies
Where Has ThisModel Worked?
“B3” - Blocks Below Broad Street
13th Street between Spruce and Chestnut, Philadelphia
Tony Goldman Redevelopment
The White BuildingAfterBefore
Located in the B3 District of Center City, this is a historic structure that has been transformed to meet the demands of urban living.
Key Factors forSuccess
• Strategic site selection
• Cleans up Facades and puts in New Infrastructure
• Makes Attractive to Retailers and the “Creative Class" through commercial space
• Has over $100 million budgeted towards Revitalization for B3.
Fiercely Focused, Persistently Productive
• Layered Financing
• Executive Leadership
• Professional Management Capacity
• Cultivation of Businesses
• Need Love, Encouragement and Support
Go Serve as Your Community’s Economic Revitalization Trainer
ExaminationAnalyze market conditions, needs and opportunities
Set GoalsDevelop Vision and StrategiesProduce Plan with Measurable Outcomes
Exercise & NourishmentImplement Plan and Cultivate Partnerships Market the Vision and OpportunitiesRaise “Seed and Harvest” Capital
Self Monitoring JournalReview Production Goals, Capital & Relationships
Make Adjustments as Needed
Is your Community Ready for Economic Revitalization?
Is there a plan?Is there leadership and consensus?Is there a proven track record of successful partnerships
and projects?“I only go where I am loved.”
- Jeremey Newberg
Do not fear Failure.Failure happens only when you
do not learn something the experience.
You know your Communities Best. Take fear out of the
equation.
What Have You Learned?• How does the Term Economic Revitalization
Resonate for you and your community?
• Is your community ready for an Economic Revitalization Plan? If not what do you need to do to get closer to ready?
• What role can you play in improving the economic health of your community?
Be Bold. Do Good.Get Your
Communities Back Into Shape.
Jeremey Newberg
Thank you!
Returns on Investments; Returns for Communities.
www.capitalaccessinc.com