Progressive investors are hard at work to provide next generation communities where third places are the rule, not the exception. Here are some of the prerequisites for attracting third places:
1. Build an attractive environment for creative entrepreneurs, the very people who start third places. That’s essentially a CoolTown.
2. Make tenant space as affordable as possible. The more creative, the more risk is involved, so a little financial support is vital.
3. Have hundreds of creative people live in the area who thrive on such places. Works with #1 quite well.
4. Establish a guild of third place proprietors that provides both financial and technical support for starting and maintaining their business.
5. Require a strong percentage of local ownership over national chains in the main street.
6. Build third places outside as well. If successful, these can literally redefine a community.