What would be an ideal equity fund for CoolTowns?
I get the feeling that there’d be a lot more CoolTowns built if the capital were there for them, because there’s certainly enough demand for them, from either the tenant or city government’s point of view.
What would be an ideal source of capital? It would have to come from visionary people, and managed by visionary people. It’d need at least $20 million or so to start off with, then grow as more and more projects were successfully funded. The fund would need to be flexible in terms of amounts and length of investment, and they’d have to be willing to take risks since much of this is not mainstream development. Also, how about not building in neighborhoods and districts that require the adjective ‘luxury’ in the description?
In other words, how about an equity fund to build CoolTowns? See the next blog…
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