Central market ppt1 a.raymon_j.elks_r.newmanPresentation Transcript
Project: Central Market Using Capital Markets Tools to Revitalize an Urban Area Team Here There : Jen Elks, Rachel Newman, Ariel Raymon
Central Market Partnership led by OEWD
Issues Empty & underutilized large buildings Poor building condition; little “leasable” space Lack of retail/services/jobs for neighborhood Relatively high retail rents for what you get Open spaces and sidewalks populated by “bad behaviors” rather than positive activity/foot traffic Highest concentration of social services and SRO’s in the city
History of Buildings
SF: Successes & Failures The Fillmore
What’s in the Works Projects from Jordan’s PPT Dkd CityPlace High-end hostel
What’s Working Elsewhere Atlanta’s East Lake district
What’s Working Elsewhere Purpose-Built Communities New Orleans, LA Jackson, MS Indianapolis, IN Rome, GA Charlotte, NC Clarkston, GA Birmingham, AL
Possible Solutions Urban Redevelopment Incentives Disincentives Land Trusts Direct Public Offerings Business Development Corporations
Our Idea Social Impact Bonds Social Investment Bonds Pay for Success Bonds
Next Steps Meeting with Jordan Klein Workwith George Kosterto further develop & define our plan Develop a contact at Purpose Built Communities Continue to research and develop a Social Impact/ Investment Bond Strategy
We are looking to use Social Impact Bonds
Does anyone have direct experience with this Capital Market tool?
Issues to be aware of?
Other ideas for tools that may work well to incentivize real estate development?
References: A look back at Mid-Market Street. (2010, June 8). San Francisco Chronicle. Retrieved from http://articles.sfgate.com/2010-06-08/bay-area/21781420_1_city-releases-herb-caen-bay-area-rapid-transit/3 All about urban renewal areas (URA) … (n.d.). Portland Development Commission. Retrieved from http://www.pdc.us/about_pdc/urban_renewal.asp The Argenta. (n.d.). Curbed SF. Retrieved from http://sf.curbed.com/tags/the-argenta Boston, Lauren. (2010, June). Rebirth on the bayou. Units. National Apartment Association. pp. 34-40. Retrieved from http://purposebuiltcommunities.org/images/stories/downloadable_docs/2010-06 units magazine cp article june 2010.pdf Central Market Development Projects. (n.d.). San Francisco Office of Economic and Workforce Development. Retrieved from http://www.sfredevelopment.org/Modules/ShowDocument.aspx?documentid=2363 Central Market Partnership. (n.d.). San Francisco Office of Economic and Workforce Development. Retrieved October 3, 2011, from http://www.oewd.org/Central_Market.aspx CityPlace - Revitalizing San Francisco’s Main Thoroughfare. (n.d.). City Place. Retrieved October 3, 2011, Retrieved from http://www.discovercityplace.com/index.shtml
The Designs For San Francisco’s “CityPlace” (935-965 Market Street). (n.d.). SocketSite. Retrieved October 3, 2011, Retrieved from http://www.socketsite.com/archives/2008/10/the_designs_for_san_francsicos_cityplace_935965_market.html Dineen, J. K. (2010, September 14). CityPlace wins at Board of Supes - San Francisco Business Times. San Francisco Business Times. Retrieved from http://www.bizjournals.com/sanfrancisco/blog/2010/09/cityplace_wins_at_board_of_supes.html Evans, Tim. (2011, September 29). Warren Buffett joins team tackling urban redevelopment. USA Today. Retrieved from http://www.usatoday.com/money/economy/story/2011-09-29/buffett-urban-development/50610124/1 Horton, Laura. (n.d.). East Lake. About.com. Retrieved from http://atlanta.about.com/od/neighborhoods/p/east-lake.htm Leonhardt, D. (2011, February 8). For Federal Programs, a Taste of Market Discipline. The New York Times. Retrieved fromhttp://www.nytimes.com/2011/02/09/business/economy/09leonhardt.html?_r=1 Liebman, J.B. (2011, February 9). Social Impact Bonds: A Promising New Financing Model to Accelerate Social Innovation and Improve Government Performance. The Center for American Progress. Retrieved fromhttp://www.americanprogress.org/issues/2011/02/social_impact_bonds.html Mayor Lee Opens Zendesk in Central Market & Announces New Office Expansion. (n.d.). Office of the Mayor. Retrieved October 3, 2011, Retrieved from http://www.sfmayor.org/index.aspx?page=546
Mulgan, G. (n.d.). Social Impact Bonds and Social Value. The Young Foundation.Retrieved from http://www.youngfoundation.org/social-innovation/tips/social-impact-bonds-and-social-value Overview. (2010). Mint Plaza. Retrieved from http://www.mintplazasf.org/overview.php Paying for Success, The Federal Budget Fiscal Year 2012. (n.d.). Office of Management and Budget, The White House. Retrieved from http://www.whitehouse.gov/omb/factsheet/paying-for-success Performance bonds, Who succeeds gets paid: Barack Obama imports a big idea from Britain. (2011, February 17). The Economist. Retrieved fromhttp://www.economist.com/node/18180436?story_id=18180436 Reviving Mid Market. (n.d.). Liveable City. Retrieved October 3, 2011, Retrieved from http://www.livablecity.org/campaigns/neighborhoods/mid-market.html Social Impact Bonds. (n.d.). Social Finance. Retrieved from http://www.socialfinance.org.uk/work/sibs SOMA Grand. (n.d.). Curbed SF. Retrieved from http://sf.curbed.com/tags/soma-grand What we do. (n.d.). Purpose Built Communities. Retrieved from http://purposebuiltcommunities.org/our-purpose/what-we-do.html