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PLACE-MAKING AND SOCIAL VALUE CREATION
PLACE-MAKING AND SOCIAL VALUE CREATION
Improving the value of a community
Improving the value of a community
Place-making is branding the collective real estate of a community or municipality for the purpose of stimulating the economy, jobs, and investment for the ultimate purpose of creating value.
The strategies recognize that a "place" being "made" requires a collaboration and cooperation of developers, real estate investors, stakeholders, banks, local business owners, community leaders, government, etc who all figure out how to create value collaboratively.
The topic is widely known as part of attracting the CREATIVE CLASS to former industrial cities which need to be re-imagined in order for people to flourish and for economic development to occur.
We began this process in Long Island City with a Community Symposium February 27/28, 2013. Johns Hopkins University is a center of study and application of Place-making, and its Associate Professor of the Carey Business School assisted along with our colleague, David Wilk, an authority on Place-making and Corporate Value Creation.
Initiatives for Stakeholders
Initiatives for Stakeholders
Place-making experience in Real Estate
Place-making experience in Real Estate
1. Here is an Interview of Arthur Rosenfield on PROPERTY VALUES today and WHY People want to Live and Work In NYC By Mona Shah, EB-5 Voice. About the NYC RENNAISSANCE
https://mshahlaw.com/new-york-city-renaissance-with-arthur-rosenfield-episode-121/
It was recorded while I was President of the National Realty Club, and release on 9/11/2020 in the midst of the pandemic shutdown. The NRC was a prominent real estate club for VIP's founded by Harry Helmsley in 1947.
2. Here is "PLACE-MAKING", an area of Real Estate and Social Value Creation for which I became a recognized expert with help from David Wilk, who introduced me to it while I was President of the Chamber of Commerce.
https://sfbdg.cityentree.com/bdg-sectors/real-estate-business-development-group/place-making
Read the page, then watch the 8 minute video of me interviewing David Will at the top. That was November 2012. In February 2013 I hosted and ran a two day Community Symposium for stakeholders to learn about Place-Making. I followed it with a series of "Breakfasts of Champions" and Luncheons over the following months. The impact of this was huge.
3. In 2014, I was recruited to work in the Real Estate market by a prominent Developer. I became an underwriter for the company.
4. I am actively involved in several area of real estate deals and real estate financing.
5. I host and actively participate in "insider groups" on Telegram and WhatsApp. These groups help participants be super-relevant and informed. They are beehives of deals, news, and relationships. Here is an overview of these groups:
● Cutting edge professional networking platforms which deliver DAILY compelling experiences and exclusiv access to high achievers.
● A highly selective community of business leaders who preview first-to market insights and gain access to collaborative opportunities with peer professionals.
● Structured business events and online engagements that ensure participants maximize the return on their time.
COMMUNITY SYMPOSIUM
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Learn about Place-making from expert David Wilk.
Learn about Place-making from expert David Wilk.
Conversation between David Wilk and Arthur Rosenfield, Long Island City / Astoria in 2012 that accelerated growth for community. A SYMPOSIUM was organized for February 2013.
“Place-Making” and Re-Imagining the City of Baltimore: Creating Inclusive Economic Development Through Real Estate Innovation
https://youtu.be/p_lwPIUp_e8
3/6/2013 - LIC/Astoria Chamber Holds Development Symposium
Place-Making Economic Development & Corporate/University Real Estate Innovation
http://m.illinoisrealtor.org/node/3588
What do you mean by “Place-making” to foster economic development?
In today’s real estate market, the most important decision people make is the place they choose to live. Communities seeking new economic development and job growth must position themselves to attract new residents by becoming a place of innovation and creativity.
Real estate is the “currency for economic development and job creation” in today’s economy. Creatively repositioning under-productive real estate assets through “Place-making” economic development strategies will stimulate new demand and private investment in communities.
Generating new demand for under-productive real estate remains a major challenge during these uncertain economic times. That is why understanding the importance of “Place-making” and the “Creative Class” to driving real estate demand is essential today, since the most important decision in people’s lives today is where they choose to live. Communities that recognize this new market paradigm, and develop innovative real estate and “Place-making” strategies targeting the “Creative Class,” will capture more than their fair share of future market demand, economic growth and new jobs.
Who are the players and how do we translate the concept into economic development for communities?
Corporations, universities, government, and healthcare providers also play a critical role today in “placemaking”, attracting the “Creative Class,” and developing ecosystems that drive economic development. The challenge facing many communities today is how key stakeholders can take corporate location decisions, downsizings, facility closings, and consolidations and turn them into exciting and innovative new value creation strategies that result in future social value creation and community benefits.
Fostering new economic development and private investment in communities can be accomplished through bringing key stakeholders together and developing innovative strategies that bring new jobs and real estate value to communities who are struggling to find pathways to economic growth by:
Creating strategic marketing plans and new “market stories” that transform under-productive real estate assets into economic development catalysts that attract new investment.
Developing “Place-making” and branding strategies that help communities “tell their market story” and articulate “why” someone would want to choose to locate their company or family there.
Exploring how corporate, governmental, and university real estate decisions can foster new economic development, business entrepreneurship and acceleration, and social value creation through rebranding real estate (university research parks, city labs).
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