Neighborhood

Customizing Economic Development

What is the perfect economic development strategy? It depends on the community.

People often describe the economic development strategy of corporate tax breaks and subsidies as an old strategy that fails to work in today’s environment. One of the newer economic development ideas suggests that creating vibrant neighborhoods with many amenities will attract the type of workforce that will in turn bring in established businesses and create new ones.

At RSG we know that there is no silver bullet for any community's or region's economic development. Each effort requires consideration for both a city's individual characteristics and broader trends.

Sometimes an appropriate subsidy can serve as a catalyst to turn a neighborhood or local industry around, especially if it supports a policy goal. Contact us today to learn how we can help you craft and implement the perfect economic development strategy for your town.

Written by Dima Galkin, an Associate at RSG

Affordable Housing at Its Best

Photo courtesy of http://www.amcalalegre.com/irvine-irvine/alegre-apartments-apartment-home/photos/

Photo courtesy of http://www.amcalalegre.com/irvine-irvine/alegre-apartments-apartment-home/photos/

Alegre Apartments, an example of successful affordable housing development, opened in June 2015 in northern Irvine. The award-winning affordable housing community developed by AMCAL in partnership with the City of Irvine and the Irvine Community Land Trust, won the Kennedy Commission of Orange County’s project of the year award for 2015.

The development achieved LEED Gold building certification with sustainability features. LEED for Homes is a national, voluntary, rating system administered by the U.S. Green Building Council (USGBC).

Alegre provides 103 spacious one- to four-bedroom apartments for low, very low, and extremely low income households. Amenities include a pool, kids’ water splash, barbecue area, tot lot, and a large, two-story clubhouse with offices, computer lab, media room, game room, and fitness center.

AMCAL has partnered with LifeSTEPS, Families Forward, the County of Orange and United Cerebral Palsy to provide social services. Alegre is the sixtieth residential community developed by AMCAL.

Without redevelopment property tax increment set aside for affordable housing and federal housing funds constantly threatened to be cut in Congress, financing such affordable housing projects is increasingly difficult. The HOME Investment Partnerships Program gives states and cities money to address local affordable housing needs, but Congress wants to slash funding.

RSG helped the Irvine Community Land Trust develop the Alegre Apartments by requesting and evaluating developers’ proposals, negotiating agreements, and providing additional guidance and insight. Contact RSG to help you develop your own version of the Alegre Apartments!

Written by Hitta Mosesman, a Principal at RSG