flexiblefullpage -
billboard - default
interstitial1 - interstitial
catfish1 - bottom
Currently Reading

Public-private partnerships crucial to central business district revitalization

Mixed-Use

Public-private partnerships crucial to central business district revitalization

An ecosystem of the private sector, governments, and academic institutions is needed, according to a JLL report.


By Peter Fabris, Contributing Editor | June 6, 2023
Image by Pexels from Pixabay
Image by Pexels from Pixabay

Central Business Districts are under pressure to keep themselves relevant as they face competition from new, vibrant mixed-use neighborhoods emerging across the world’s largest cities. Public-private partnerships could be the answer.

These new mixed-use neighborhoods are attracting more businesses, residents, and investment that might otherwise be directed toward the urban core. Cities can compete with this trend by collaborating with developers, government agencies, and academic institutions to encourage redevelopment of existing buildings—converting office space to residential use, for example, according to a recent report from JLL.

Governments should anticipate real estate market demand changes and provide greater flexibility to developers and investors. Cities and states can expand tax credits to offset the cost of conversion and streamline the planning process to reduce the lead time for redevelopment projects.

These projects also offer environmental benefits. Refurbishing buildings has a lower carbon impact compared to building new structures.

Related Stories

MFPRO+ News | Apr 18, 2024

Marquette Companies forms alliance with Orion Residential Advisors

Marquette Companies, a national leader in multifamily development, investment, and management, announces its strategic alliance with Deerfield, Ill.-based Orion Residential Advisors, an integrated multifamily investment and operating firm active in multiple markets nationwide.

MFPRO+ New Projects | Apr 16, 2024

Marvel-designed Gowanus Green will offer 955 affordable rental units in Brooklyn

The community consists of approximately 955 units of 100% affordable housing, 28,000 sf of neighborhood service retail and community space, a site for a new public school, and a new 1.5-acre public park.

Mixed-Use | Apr 13, 2024

Former industrial marina gets adaptive reuse treatment

At its core, adaptive reuse is an active reimagining of the built environment in ways that serve the communities who use it. Successful adaptive reuse uncovers the latent potential in a place and uses it to meet people’s present needs.

Multifamily Housing | Apr 12, 2024

Habitat starts leasing Cassidy on Canal, a new luxury rental high-rise in Chicago

New 33-story Class A rental tower, designed by SCB, will offer 343 rental units. 

Mixed-Use | Apr 9, 2024

A surging master-planned community in Utah gets its own entertainment district

Since its construction began two decades ago, Daybreak, the 4,100-acre master-planned community in South Jordan, Utah, has been a catalyst and model for regional growth. The latest addition is a 200-acre mixed-use entertainment district that will serve as a walkable and bikeable neighborhood within the community, anchored by a minor-league baseball park and a cinema/entertainment complex.

MFPRO+ New Projects | Apr 8, 2024

Construction complete on The Station Apartments in Minneapolis

Big-D Midwest recently completed construction on The Station Apartments at Malcolm Yards, an innovative and unique housing property in Minneapolis.

Mixed-Use | Apr 4, 2024

Sustainable mixed-use districts: Crafting urban communities

As a part of the revitalization of a Seattle neighborhood, Graphite Design Group designed a sustainable mixed-use community that exemplifies resource conversation, transportation synergies, and long-term flexibility.

Multifamily Housing | Mar 18, 2024

YWCA building in Boston’s Back Bay converted into 210 affordable rental apartments

Renovation of YWCA at 140 Clarendon Street will serve 111 previously unhoused families and individuals.

Sustainability | Mar 13, 2024

Trends to watch shaping the future of ESG

Gensler’s Climate Action & Sustainability Services Leaders Anthony Brower, Juliette Morgan, and Kirsten Ritchie discuss trends shaping the future of environmental, social, and governance (ESG).

MFPRO+ Special Reports | Feb 22, 2024

Crystal Lagoons: A deep dive into real estate's most extreme guest amenity

These year-round, manmade, crystal clear blue lagoons offer a groundbreaking technology with immense potential to redefine the concept of water amenities. However, navigating regulatory challenges and ensuring long-term sustainability are crucial to success with Crystal Lagoons.

boombox1 - default
boombox2 -
native1 -

More In Category




halfpage1 -

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021