When choosing a community for an investment, Ciere Boatright, Vice President of Real Estate and Inclusion at the Corporation for National and Community Service (CNI), recommends looking for these signs.
In this short clip from the episode, Ciere shares great tips and secrets for investors who want to be successful in Pullman. You can listen to the full episode with Ciere Boatright HERE.
1. Community Development Programs:
Community Development is the process in which community members come together to take collective action and generate solutions to common problems. It is a broad concept, applied to the practices of civic leaders, involved citizens, and professionals to improve various aspects of communities, typically aiming to build stronger and more resilient local communities.
Programs such as Opportunity Zones, TIF, TOD, INVEST South/West, seek to empower individuals and groups of people with the skills they need to effect change within their communities.
Community developers must understand both how to work with individuals and how to affect communities' positions within the context of larger social institutions.
2. CDC Experience and Relationships in the Community
Community Development Corporation (CDC) are institutionalized nonprofits designed to assist communities in any kind of improvement efforts. As a corporation, they tend to have a wider range of services that they can offer to a wider audience. Many CDCs are associated with government agencies and will work in tandem with them, but they themselves are not government-operated.
To some degree, CDCs act more like a regular business than a typical non-profit due to the scope of the services they provide and how those services are managed and are equally a part of the community development process. Operationally, many CDCs have a demographic focus rather than a location-specified base. Meaning that they will still work to generate improvements in a community or communities, but their efforts will be more directed towards their particular area of interest(s).
3. Growth Minded Local Officials
Look for local elected officials who are growth minded. This can come from the perspective of housing, retail, community infrastructure or all of the above.
Listen to the full conversation we had with Ciere HERE, where we discuss CNI’s approach towards creating jobs and affordable housing in specific communities, and why investors should care and how investors can have access to benefits of the social programs stimulating the neighborhoods as well as future projects planned for the area.
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