Student Corner: Building up the “S”: How Municipalities and Real Estate Developers Can Find Common Ground for Social Equity

The Renaissance (Laurel Street) Sprawled on roughly 40 acres in Charlotte, N.C., The Renaissance is the first Purpose Built Community in the Queen City. Its purpose: be more than a housing option. Developed by Laurel Street Residential in 2016 on behalf of the Charlotte Housing Authority (Now InLivian), The Renaissance offers cradle-to-college-to-career educational curriculum and wellness programs with the aim of enhancing social equity, eradicating generational poverty and improving physical and mental health. The advancement of these goals rests with the Renaissance West Community Initiative (RWCI), which was formed to serve as the so-called community quarterback for The Renaissance, which has more than 300 rental units. “What RWCI focuses on revolves around the social determinants of health,” said Jackie Tynan, chief impact officer at RWCI. “There’s a social equity and a racial equity component to that. Overall, we focus on all things related to individual and family well-being.” Social Equity Defined by the Urban Land Institute (ULI) as “just and fair inclusion” that enables all citizens to realize their full potential, social equity often surfaces in environmental, social, and governance (ESG) evaluations of companies. Its importance has only grown during the coronavirus pandemic and the protests for racial justice that dominated 2020. Municipalities and businesses, alike, are now seeking ways to address long-standing social injustices and incentivize equitable progress. Real estate impacts social issues in intricate and inevitable ways. Building designs and materials dictate how we live and work. The private development process molds and reengineers the character of neighborhoods. Government policies and incentives broadly define the housing stock and amenities of [...]

Read full blog post...