Sustaining Community Amid CRE Injections and Gentrification

In today’s constantly changing commercial real estate landscape, finding a balance between expanding our real estate operations and preserving the communities we do business in is perhaps one of the biggest challenges we face today.

As leaders in our real estate community it is important to consider the factors and responsible practices that promote community growth and prosperity while mitigating the negative effects of gentrification. We think there’s a way to grow your commercial real estate business or portfolio in a community-conscious way, one which includes intelligent CRE lead generation and site selection strategies.

Planned Retail from BuildCentral tracks planned retail construction projects from proposal through completion. CRE firms rely on its early-stage project data to make smart, responsible business decisions.

How do you sustain community while investing in commercial real estate (CRE)?

Give Back Through Housing Initiatives
Get Community Approval First
Bring Jobs With You
Practice Preservation
Community Listening

RELATED:

5 Ways To Sustain Community While Building New CRE

Give Back Through Housing Initiatives

You can allocate a portion of your project’s funding to the development of affordable housing units, which can include affordable rental apartments or homes that are incorporated into mixed-use developments. This initiative promotes economic diversity within the community, thereby disrupting the whispers of displacement of the original community members.

Get Community Approval First

You can initiate talks with community organizations to establish Community Benefits Agreements (CBAs), which are legally binding contracts that specify specific benefits like employment prospects, cost-effective housing, or financial support for community initiatives that the developer will provide in exchange for the community’s backing of the project. This way you have the community’s blessing before taking on the project.

Bring Jobs With You

Whether your next project is a grocery anchored strip center, or a single tenant lease you could implement local hiring initiatives and job training programs for community residents that can create employment opportunities and strengthen the local workforce. Not only does this provide benefits to individuals, but it also fosters a sense of ownership within the community.

Consider working with market leaders to develop a plan to create more jobs which will not only benefit the community, but the economy. Use the Market Leaders feature through our database to find the top leaders in your community. Planned Retail from BuildCentral also tracks planned retail construction projects from proposal through completion.

Get Started with PlannedRetail

Whole foods market

Practice Preservation

You can engage in initiatives that protect cultural and historical treasures in the community. This can look like avoiding places that have historical community value, renovating historic buildings, or supporting local events that honor heritage.

Practice preservation

Community Listening

It is imperative to engage with the community during the entire development process. Try to solicit feedback from residents and local organizations to gain insight into their requirements and apprehensions. This guarantees that the project is in harmony with the community’s values and aspirations.

Through the implementation of these strategies, you have the ability to make a positive contribution to the welfare of the community whilst pursuing your commercial real estate projects, fostering a more inclusive and sustainable urban environment.