Transformative Place Development
Widespread wealth-building and prosperity is an investment choice that you get to make every day.
The journey to building connected, productive, and inclusive places is rooted in ecosystem thinking that creates and captures value. Your current economy, natural resources and amenities, and people are not liabilities in transformative place development.
Three nested ecosystems drive thriving places:
People: Think of our people ecosystems as the human and social capital that makes a place what it is. It’s everyone’s purpose, abilities, knowledge, and skills that flow into products, services, and experiences in your community. And trust and collaboration are the infrastructures that make it all flow and maximize prosperity and well-being.
Marketplace: The marketplace ecosystem is the working together of financial and produced capital to create meta and physical assets and activities. Airport connectivity, road infrastructure, Costco, Walmart, and the Intel Chip manufacturer are all constructed physical assets and objects.
Spatial: Think of spatial ecosystems as creating spaces and experiences that link and leverage natural (e.g., water, soil, and forest preserves) and programming capital (e.g., arts, culture, entertainment, recreation)
All three ecosystems are critical. Plus, innovation and growth occur in the convergence of people, marketplace, and spatial ecosystems. Business and neighborhood districts that adopt ecosystem strategies will become the magnetic destination for commerce, housing, learning, and healthy living.
If you want to learn more about the five capitals mentioned above, check out Neva R. Goodwin's "Five Kinds of Capital".