Investing in Experience Towns
Using the Experience Town steps, here’s how an investment group looks to invest in their next generation communities:
1. Discover and extract commodities: Utilize capital in institutional investment network, leverage student/graduate market of universities and seek currently undesirable/economically-disadvantaged sites.
2. Develop and make goods: Team with the best urban designers to build a new urbanist neighborhood fabric, although more European/international in density/intensity.
3. Devise and deliver services: Partner with leading main street retail managers that focus on unique local merchants, and provide $2M in local industry-focused economic development.
4. Depict and stage experiences: Provide multiple “stages” and a $3M community center to serve as the town’s “experience agent”.
5. Determine and guide transformations: Allow the community center to evolve as an invaluable tool by which its residents reach both their personal and business aspirations.
About The Author
Business not only attracts people to one of these “cool towns” but also serves to tie the community together. A great example is the Barnes and Noble in Bethesda, which has now become the center of the town.
In addition to providing services for the members of the community, the right business can also define the culture of a city. Bethesda, MD is a great example where you see that the local Barnes and Noble has become the center of town.