In the next decade, over $3 trillion in private and public funds will be invested in America’s cities and urban communities—to reinvigorate downtowns, provide new retail opportunities, build new transportation corridors, and support new urban businesses. A new urban development paradigm is driving change in the nature of today’s urban areas, which has been difficult to capture using traditional techniques.
The Urban Markets Initiative hosted a roundtable on the role of information in the future of retail and commercial location investment strategies on March 22 through March 23, 2005. Fifty-three leaders (PDF) participated, including information providers, analysts and consultants, developers and lenders/financiers, and representatives from the foundation and intermediary communities from a spectrum of organizations.
J. Pari Sabety, provided opening comments regarding UMI and the role of this roundtable. Douglas W. Nelson, President of the Annie E. Casey Foundation and Co-Chair of the Living Cities, introduced the keynote speaker, Dr. Paul Schoemaker. By grounding the roundtable discussions in the seminal decision theory work of our keynote speaker, the participants better understood both the role of information in making urban market investment decisions, and how to leverage it for positive progress.
The second day began with presentations by three industry representatives, Claritas (PDF), Cushman & Wakefield Consulting (PDF), and the Buxton Corporation (PPT), which led to discussions around best practices and information barriers.
The outcomes indicated need for initial work in four areas for progress:
- New Models
- Different timeframes for investment
- New Market Information
- Access to Capital
Learn more about the Action Items for Urban Development.