06 16 08 Sc Kansas City Presentation
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Transcript of 06 16 08 Sc Kansas City Presentation
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June 2008
W W W . S O C I A L C O M P A C T . O R G
The Information Intermediary forCommunity Development
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A tale of two neighborhoods …
Neighborhood A
Market SizePopulation: 328,001Households: 126,321
Market Buying PowerAgg. Neighborhood Income: $4.7 B
Average Household Income: $37,283Income per Acre: $785,000
Market Stability/RiskMedian Home Value: $220,982
Neighborhood B
Market SizePopulation: 388,246Households: 152,383
Market Buying PowerAgg. Neighborhood Income:
$8.4 B Average Household Income:
$55,227Income per Acre: $1.7 Million
Market Stability/RiskMedian Home Value: $600,000
Retail Spending: $364,540/acreSource: U.S. Census Bureau, 2000 and Social Compact Harlem
DRILLDOWN, 2008
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In over 300 undervalued neighborhoods across the country, Social Compact has found:Larger Markets
1,000,000 More residents 350,000 More householdsGreater Buying Power
$32 billion more aggregate household income (+29%) $12 billion by informal economy income
Less Risk, More Stability Falling crime rates Booming property market High owner occupancy by building
Capturing Underserved Market Potential
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Capturing Urban Market Potential
Completed DrillDownsBaltimore, MDCincinnati, OHChicago, ILCleveland, OHDetroit, MIHarlem, NYHouston, TXJacksonville, FLLos Angeles, CAMiami, FLOakland, CASanta Ana, CAWashington, DC
Current DrillDownsDenver, CO Fort Worth, TXJacksonville, FL Kansas City, MOLouisville, KYMiami/North Miami, FLOakland, CA Ontario, CAPhiladelphia, PASan Francisco, CATampa/St. Petersburg, FL
Future DrillDownsAtlanta, GACharlotte, NCChicago, ILCleveland, OHFresno, CAMemphis, TNMilwaukee, WIMinneapolis, MNNewark, NJ Pittsburgh, PARaleigh, NCRichmond, VASan Antonio, TXSt. Louis, MOToledo, OHLondon, United KingdomManila, PhilippinesGuatemala CityRecife, Brazil
Quantifying Strength in America’s Communities in 200 Neighborhoods and Beyond …
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The lack of information makes investment risk averse
Every community is a market Investment is localized and defined by
place
Development Design Principles
Need to develop metrics that capture the private sector need for a return on investment with the public sector need for a public good
Indicator Construction Effort
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Building Tools
For InformedDecision-making
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Distribution of grocery providers overlaid with grocery store sales demand.
2007 Houston DrillDown Findings
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2007 Houston DrillDown FindingsGrocery Customer Attraction
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2007 Detroit DrillDown Findings3D Model of Grocery Demand
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Cincinnati, OH
Capturing Urban Market Potential
New Tools: Risk Mitigation Profiles
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Capturing Urban Market Potential
New Tools: Foreclosure Impact Analysis
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Census Challenge Process:Since 2000, nearly 200 challenges netted over 1 MILLION in positive population adjustments to Census estimatesChallenging jurisdictions averaged a 9.2% undercount
Why this is important:1 MILLION in missed population equates to $2.2 BILLION in missed federal and state funding revenue in these marketsCensus data drive private sector investment decision-making
Capturing Urban Market Potential
New Tools: Improving Census Estimates
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Education centers
Business associations
Healthy lifestyle
Yoga studios
Parks
…
Health clubs
Independent artists
Theaters
Architects
Art galleries and museums
Training schools
…
Colleges
Knowledge creation
Religious organizations …
Civil and social organizations
Community-based organizations
Arts and culture
…
URBAN FABRIC
Education Centers
Capturing Urban Market Potential
New Tools: Urban Fabric Asset-Mapping
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Different individual layers could be examined to understand the different textures of the neighborhoods to identify different layers individually as well as understanding neighborhoods at the combined level of the arts and health elements to identify the “textures of urban fabric”
Capturing Urban Market Potential
Urban Fabric
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Broadening Access to MethodologyLicensing methodology among a community of local data housesMaximizing replicable, updateable processes to build new tools on top of robust, granular-level, transaction-based market data not currently available
Expanding the ToolkitDemographic researchSurveysLand valuation toolRisk mitigation tool
Moving Message InternationallyPiloting 1st international DrillDown in London, UKExploring Feasibility Study to implement DrillDownframework in developing countries with the World Bank
Capturing Urban Market Potential
Expanding Scale
Community development tools
Social FabricRetail
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W W W . S O C I A L C O M P A C T . O R G
John Talmage, President and CEOSocial Compact, Inc.
[email protected] 7th Street, SE
Washington, DC 2003