About Intro

R2G-America

The Premise

The next decade is destined to see a deliberate and gradual return of real estate values within our country’s urban cores.  Well-planned, sustainable communities with viable transit options will be the hallmark of this return to a re-balanced climate.  Development centered around a green community core is inherently more valuable, both from a public policy and economic perspective, than unamenitized development.

The Public-Private Solution

The track record of stand-alone public and private entities suggests that they are generally incapable of efficiently executing integrated urban development.

·         Public entities cannot move quickly enough, lack essential redevelopment expertise, are not bankable, and necessarily have jurisdictional limitations on their focus.

·         Private entities are insufficiently motivated by the public interest, and are illiquid to the point of insolvency.

The Public Policy Case

Red Fields to Green Fields creates a measurable spectrum of jobs; hastens tangible, visible economic recovery “on the ground”; and balances public uses with financial accountability while broadly transforming the national landscape.  This enterprise leverages private investment to achieve long-term endowment of public space.

The Private Investment Case

Red Fields to Green Fields creates a vehicle by which private investment leverages sound public policy to create value unachievable in other “buy low -- sell high” ventures.  Traditional investment models must overcome public challenges that invariably reduce return potential and lengthen investment horizon.  The Red Fields to Green Fields business model amplifies the symbiotic relationship between private economic motives and investment in the social fabric.

 

Based on the Redfields to Greenfields-Atlanta study, similar studies are underway in Cleveland, Denver, Miami, Philadelphia, and Wilmington, Delaware. A conceptual budget based on each city’s population has been allocated to determine how much non-performing commercial real estate could be purchased and converted to parks, and what impacts would be realized in the city and surrounding communities. 

This work is in progress, but the following storylines are emerging each city, and may be indicative of the conditions being played out today in other cities across the country.

Cleveland—loss of populace due to unemployment, coupled with promising urban renewal programs and a renewed focus on smart water conservation and infrastructure management practices.

Denver---a national model for rapid urbanization and regional water challenges and a growing energy driven economy.

Miami—heavily impacted by the residential and commercial real estate downfall, there are new opportunities for creating and linking green space and transportation infrastructure.

Philadelphia—a history of heavy industrialization is transitioning to a knowledge based economy, creating new challenges and new urban revitalization strategies.

Wilmington, Delaware---an example of the impacts of the residential real estate downturn commonplace throughout US communities, Wilmington is a story of a health care driven economy that will be even more critical for an aging US population and the growing need for easily accessible urban parks.

 

These studies will focus on:

·      Presenting the potentially transformative nature of a Redfields to Greenfields program on a city infrastructure;

·      The potential economic impacts, in terms of job creation and economic recovery for small businesses and affected citizens

·      Creating opportunities for stakeholders in these cities and others to engage politicians, park managers, the business community, and neighborhoods, and to jump-start local green space initiatives whose progress has been hampered by the US economic crisis.