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.
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5 Ways To Sustain Community While Building New CRE
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.
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.
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