Several of our more recent projects have been driven by consumer desire for socially connectivity, an idea traditionally limited to large cities. While the suburbs are not going away anytime soon, we’re seeing increased emphasis on places that create an experience and a sense of place. This means finding everything you need for daily living close by.
Most of the time, these projects are accelerated by the 3Ps: Public Private Partnerships. When the private, for-profit and nonprofit sectors work together, much more can be accomplished, and it happens faster.
I would say half of our current projects have some commitment by a public entity or tax credits. This effort will (or should) should bring back rewards to that community on several fronts. Partnerships generally take several forms, from financial and entitlement assistance to a lending of private sector expertise. That experience can be particularly useful on complex projects, for design and construction of the project.
The results? The 3Ps can also be catalyst to surrounding development opportunities,“kick-starting” a particular portion of a city previously bypassed. As we see things, it’s all good.
{ Special thanks to Cohen Carnaggio Reynolds Architects for the image above. }
