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Making places and making tradeoffs: mixed-income housing development in practice

Making places and making tradeoffs: mixed-income housing development in practice PurposeThe purpose of this paper is to examine the development of the Brightwalk community in Charlotte, North Carolina, to explore some of the tradeoffs municipalities make when engaging in public–private partnerships designed to support the production of mixed-income housing in urban neighborhoods.Design/methodology/approachThe results of a gray literature review and a series of in-depth interviews conducted with real estate practitioners familiar with the transaction are presented to evaluate the impact of market forces on key investment decisions and project outcomes.FindingsPublic–private partnerships formed to support mixed-income housing development can serve as an effective means of revitalizing economically stagnant urban areas and improving the quality of the affordable housing stock, but they do not always provide members of the development team with an equally strong incentive to satisfy the unique demands of low-income populations or ensure they have a seat at the table when development decisions are made.Originality/valueThe originality of the research lies in its focus on a public–private partnership led by a non-profit organization to facilitate the redevelopment of a dilapidated market-rate apartment complex into a revitalized mixed-income community, which may help municipalities evaluate the pros and cons of participating in similar development transactions. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Place Management and Development Emerald Publishing

Making places and making tradeoffs: mixed-income housing development in practice

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Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
1753-8335
DOI
10.1108/JPMD-12-2016-0074
Publisher site
See Article on Publisher Site

Abstract

PurposeThe purpose of this paper is to examine the development of the Brightwalk community in Charlotte, North Carolina, to explore some of the tradeoffs municipalities make when engaging in public–private partnerships designed to support the production of mixed-income housing in urban neighborhoods.Design/methodology/approachThe results of a gray literature review and a series of in-depth interviews conducted with real estate practitioners familiar with the transaction are presented to evaluate the impact of market forces on key investment decisions and project outcomes.FindingsPublic–private partnerships formed to support mixed-income housing development can serve as an effective means of revitalizing economically stagnant urban areas and improving the quality of the affordable housing stock, but they do not always provide members of the development team with an equally strong incentive to satisfy the unique demands of low-income populations or ensure they have a seat at the table when development decisions are made.Originality/valueThe originality of the research lies in its focus on a public–private partnership led by a non-profit organization to facilitate the redevelopment of a dilapidated market-rate apartment complex into a revitalized mixed-income community, which may help municipalities evaluate the pros and cons of participating in similar development transactions.

Journal

Journal of Place Management and DevelopmentEmerald Publishing

Published: Dec 4, 2017

References