What Works for Building and Sustaining Mixed-Income Communities: A Perspective from the Development Community
April 24, 2020
Two ULI members, working with ULI Terwilliger Center staff, have written an essay on the developer’s role in cultivating inclusive, equitable mixed-income communities.
In the essay, Victoria Davis, managing partner with Urban Atlantic, and Daryl Carter, chairman and CEO of Avanath Capital Management, are transparent as they offer their tools and strategies in navigating the complex financial, regulatory, and community building aspects of building and managing mixed-income properties. They also provide thoughtful criticisms and feedback on what needs to change to facilitate more mixed-income developments.
From the essay: “Despite the obstacles, we urge more of our development colleagues to take up the mission of creating and sustaining mixed-income communities. The benefits are significant—for residents and communities, for promoting the mission of purposeful developers, and for bringing development companies financial success. In this essay, we encourage developers, residents, and public actors to work together to create housing that meets the needs of individuals and families at all income levels. We suggest a way forward by sharing lessons from our decades in the development industry.”
Their essay is part of a larger volume, titled What Works to Promote Inclusive, Equitable Communities, production of which is led by the National Initiative on Mixed-Income Communities (NIMC) at Case Western Reserve University, with lead funding provided by the Kresge Foundation. The volume is intended to equip a broad audience of policymakers, funders, practitioners, community activists, and researchers, with the latest thinking and tools needed to achieve more equitable and inclusive mixed-income communities. This is the fifth volume in the Federal Reserve Bank of San Francisco’s What Works series, which has sought to analyze a variety of key themes in urban development.
Essays will be released in a final print volume, planned for later in 2020; however, readers can access essays now on NIMC’s website where new pieces are being uploaded every month.