2. CORPORATE DEVELOPMENT | 201 EXPECTATIONS
1
Patrick Slevin
Senior Vice President
patrick.slevin@hillandknowlton.com
201 NOW TRENDING
1: CORPORATE IMPLICATIONS
The US economy will take a sustainable turn toward Jobs! Jobs! Jobs! Corporate developers have enjoyed a bit
recovery in 201
1. more political leverage when proposing “new job-creating”
developments. However, corporations are not always receiving
There’s a general consensus that residential and commercial real rubber stamps on projects that proffer economic and
estate markets have survived the worst of the Great Recession. environmental sustainability.
We expect to see modest but diversified growth in real estate
development. As infill development intensifies, corporations will encounter
higher-income demographics with greater political muscle.
The foreclosure crisis will continue to loom over the housing Corporate leaders will need to recalibrate their growth strategies
market, but new jobs, low interest rates and upticks in mortgage and community approaches.
loans will begin the long road to housing market recovery.
Retail giant WalMart is rolling out 20,000-square-foot stores to
Commercial development will collectively demonstrate growth. lead its “aggressive push into urban markets.” A smaller store
Medical facilities, multifamily dwellings, rail, port expansions and presents a smaller target for community resistance in areas such
energy will continue to lead development. Retailers will be as Manhattan, where the company hopes to open a store for the
encouraged by consumer spending, and they will begin to seek first time.
out new sites for infill development, albeit very selectively. Office
developers will see a slight improvement in occupancy rates, but The intensity and frequency of community opposition known as
will still be a long way from collecting the rents they once enjoyed. NIMBY (Not In My Backyard) continues to defeat job-creating
. projects. Disputes over traffic, pollution, height, density, infrastruc-
ture, environment, preservation and character of communities will
undermine billions of dollars in global real estate investments.
Earning the social license to operate remains a key element in
securing project approvals in rural, suburban and urban locations.
Companies will need to incorporate social sustainability to
augment economic and environmental sustainability in order to
reduce risk, grow market share and increase profits.
Patrick Slevin, a former mayor, has vast experience in strategic
communications, public affairs, issues advocacy, coalition building, political
marketing, crisis communications, referendums, grassroots engagement
and land use politics.
