A COMMUNITY BASED APPROACH IN COMMERCIAL DEVELOPMENT

NEW MODELS FOR REDEVELOPMENT IN DISINVESTED COMMUNITIES

Cooperatively-Governed

The redeveloper and/or anchor tenant of the redevelopment project is cooperatively-owned. A cooperative is a business or enterprise that is owned by those that use its services. An example of a cooperative includes a cooperative retail business that is owned and controlled by its retail tenants as tenant-owners. This type of governance is more likely to ensure affordable and fair rents for tenants; quality and affordable goods for consumers; standardized quality assurance to the public; and community buy-in due to community-centered marketing, supply, pricing, and other business tools.  

Youth-Focused

The redevelopment project provides youth-owned and controlled retail; promotes youth entrepreneurship through training and strategic partnerships with youth-based organizations; and promotes public safety among under-employed, disadvantaged youth through youth-focused initiatives that consider the interests and needs of the neighboring youth.

Community-Invested

The redevelopment project involves community capital campaigns where the developer and anchor tenant raise money directly from the neighborhood and the broader city through investment crowdfunding and other community-finance tools in order to advance community wealth in disinvested and underemployed neighborhoods.

Resident-Controlled

The redevelopment project includes voting equity-holders and/or governing and advisory board members that are residents of the affected neighborhood.These residents will be able to vote or decide upon major decisions of the redevelopment project throughout the life of the project, including the decision to increase rents; sale; or purchase major assets. In addition, the redevelopment project requires community input at the design phase through interactive, community design events. The redevelopment project then includes the community-informed design into its own architectural designs and development inputs.

Woman-Led

The redevelopment project includes voting equity-holders and/or governing and advisory board members that are residents of the affected neighborhood.These residents will be able to vote or decide upon major decisions of the redevelopment project throughout the life of the project, including the decision to increase rents; sale; or purchase major assets. In addition, the redevelopment project requires community input at the design phase through interactive, community design events. The redevelopment project then includes the community-informed design into its own architectural designs and development inputs.

Black-Owned

The redevelopment project is majority-owned by a Black person or other racial minority. MBE certification is encouraged, but is not required.