When discussing why underserved communities tend to stay that way, insufficient access to capital is the elephant in the room. Traditionally, to secure funding for say, a multifamily apartment building, or a new retail shopping center, one would have to go through conventional lenders, private equity firms, venture capital groups, or independent angel investors. What all of … [Read more...] about Why community capital matters.
Community
Opportunity Zones for everyone.
Opportunity Zone funds are a hot topic in the real investment world. These funds appeared as a result of the 2017 Tax Cuts and Jobs Act. This legislation included a provision that designated 8,700 census tracts in the United States as Opportunity Zones - areas with less than average direct investment and economic growth. Investing in these zones offers interested parties a … [Read more...] about Opportunity Zones for everyone.
Peeling the onion.
Why communities succeed or fail It's impossible to solve a problem as complicated as community development without a full understanding of what makes communities succeed or fail. When most investors look at a neighborhood, they check standard metrics like employment rates, crime prevalence, school district numbers, etc. These numbers provide a picture- but not the full … [Read more...] about Peeling the onion.
Investing capital in building community.
Urban areas face unique development challenges Property development in urban areas faces a wealth of challenges. City permitting, construction and noise ordinances, and outrageous land acquisition costs all come to mind when considering urban development and renewal. One hurdle you face more often in older cities is that older areas were primarily developed in the 1930s … [Read more...] about Investing capital in building community.
The beginning.
I'm Eve Picker and my life is rich with urban (ad)ventures, I’ve developed a dozen buildings in blighted neighborhoods, founded a non-profit called cityLAB and built Pittsburgh’s first tiny house, organized a speaker series, launched a Pittsburgh e-zine called Pop City, and established downtown Pittsburgh’s first co-working space. I also … [Read more...] about The beginning.