If Chicago is chosen for the location of Barack Obama’s presidential library, Illinois taxpayers could be on the hook for $100 million. Are the benefits that come with presidential libraries worth the cost? Anthony Clark talks about the economic impact other presidential libraries have had and what might be in store for Chicago if it gets picked.
This presentation outlines the theoretical framework for market-based community economic development, including a discussion of how market-based strategies work and when they are most effective. The presentation also provides examples of how the framework can be applied to development practice in the areas of retail and financial services.
This document is the culmination of an innovative, two-year effort to develop an integrated and mutually reinforcing set of strategies and initiatives to drive growth in four contiguous Chicago neighborhoods: Chatham, Auburn Gresham, Avalon Park and Greater Grand Crossing. The plan reflects a new, replicable approach to neighborhood growth planning, embedded in the context of regional economic opportunities. Chapter I lays out the economic foundations of the plan, and is followed by a rigorous market analysis, articulation of the plan’s 16 strategies and an outline of the lead implementation initiatives and institutional infrastructure.
Delivered by RW Ventures, Chicago TREND and the Columbus Metropolitan Housing Authority, this pair of training sessions were designed to help communities pursuing retail, industrial land use, small business or other economic development projects think more strategically about how those efforts can align with and leverage other local development activities. The morning session used a case study from Columbus to illustrate how the viability of a retail project can be informed and enhanced by interrelated strategies to revitalize the surrounding neighborhood. The afternoon session used an industrial land redevelopment case study from Atlanta to explore how to connect regional industrial opportunities to neighborhood assets and development – sometimes referred to as “economic place-making.”
Originally developed as a two-day training for HUD Choice Neighborhood program grantees, this presentation was delivered to grantees from NeighborWorks America’s Catalytic Grant Program. The training presents the rationale and structure of a new approach to comprehensive neighborhood economic development: “”neighborhood business planning.”” After walking through the effects and implications of the transition to the knowledge economy, the presentation provides a framework for seeing neighborhoods as dynamic systems whose role in the economy is to develop and deploy assets (e.g., workers, businesses) into larger markets.
An overview of neighborhood types and their unique roles within regions follows, along with data on the typical trajectories of different neighborhood types. Sections on each of five market levers (human capital, clusters, innovation and entrepreneurship, urban growth form and governance) show how the development of neighborhood goals, market analysis, strategies and initiatives can create neighborhoods of opportunity in connection with their region. Local-facing issues like housing, retail and other amenities are examined in relation to their effect on creating neighborhoods of choice that certain populations are attracted to, influencing a neighborhood’s type and trajectory. The presentation concludes with an overview of the most comprehensive application of neighborhood business planning to-date: the Greater Chatham Initiative.
Chicago TREND (Transforming Retail Economics of Neighborhood Development) combines innovative predictive analytics, deal brokering and financial products to support “retail on the leading edge” of emerging neighborhood markets. The new initiative – including partnerships with ICSC, Nielsen, Econsult Solutions and leading retailers and developers – aims to enable retailers, developers, investors and neighborhoods to better target particular types of retail to specific changing neighborhoods offering retail opportunity that will help drive the neighborhood change. The initiative is led by Lyneir Richardson. To discuss potential retail development and partnership opportunities, please contact him at lrichardson@chicagotrend.com.
Chicago TREND (Transforming Retail Economics of Neighborhood Development) combines innovative predictive analytics, deal brokering and financial products to support “retail on the leading edge” of emerging neighborhood markets. The new initiative – including partnerships with ICSC, Nielsen, Econsult Solutions and leading retailers and developers – aims to enable retailers, developers, investors and neighborhoods to better target particular types of retail to specific changing neighborhoods, offering retail opportunity that will help drive the neighborhood change. The initiative is led by Lyneir Richardson. To discuss potential retail development and partnership opportunities, please contact him at lrichardson@chicagotrend.com.
Developed as part of a two-day training for planning and implementation grantees from HUD’s Choice Neighborhoods program, this presentation walks through the logic and structure of a new approach to comprehensive neighborhood economic development: “neighborhood business planning.” It begins by describing the changes taking place in the knowledge economy, which present opportunities for metropolitan areas and especially urban neighborhoods, and suggest a new approach: neighborhood business planning. The presentation then offers a framework for understanding neighborhoods as dynamic systems whose economic function is to develop and deploy their assets into larger markets.
An overview of neighborhood types and their functions within regional systems follows, including a description of how different types of neighborhoods change over time. Sections on each of five market levers (human capital, clusters, innovation and entrepreneurship, urban growth form and governance) walk through illustrative neighborhood goals, market analysis, strategies and initiatives to drive neighborhood prosperity in connection with its region. Another module focuses on how local-facing issues like housing, retail and other amenities reflect the neighborhood’s position in the region, but also can shape a neighborhood’s type and trajectory. The presentation concludes with an illustrative, high-level sample business plan that brings together all prior components.
Bob Weissbourd delivered these remarks as part of the “Connecting to Markets” series sponsored by the Institute for Comprehensive Community Development, the Urban Institute, and the Federal Reserve Banks of Boston, Chicago, Houston, Los Angeles, Minneapolis, Pittsburgh and San Francisco. The speech makes observations about the macro- and metro-economic contexts, and then turns to the implications of these trends for the main topics of the day: neighborhoods, housing markets and the foreclosure crisis.
The Institute for Comprehensive Community Development (ICCD) released the inaugural issue of its journal, including a paper entitled “Lessons from the Field: How 21st Century Community Development Can Inform Federal Policy,” as well as an interview with its author, Bob Weissbourd. The paper addresses the importance and functions of neighborhoods; identifies best practices in neighborhood development; illustrates these using highlights from LISC’s Sustainable Communities program; and offers suggestions for federal policy.
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