The process of real estate development is critical to urban life. Without it, we’d have no homes, no stores, no community centers. But development isn’t working for everyone. All too often, new projects advance without sufficient concern for affordability, economic opportunity, or long-term vibrancy.&nbsp; But as Sidewalk Labs' Head of Urban Development Alison Novak tells us, 2020 made a lot of people pause and ask: “What am I doing, and how am I impacting the world?” Real estate developers are no exception. Today, the industry is at a tipping point, and many developers are asking themselves how they can do better — while still making money. This season of City of the Future will be all about the ideas and innovations that could lead to more equitable development. But before we can understand how development could become more inclusive in the future, we have to understand how it works today. So, in this bonus episode, Alison helps us dig into the financials, the planning documents, and beyond. Join us for some Development 101. In this episode:  [0:01 - 5:49] We meet with Sidewalk’s Head of Urban Development, Alison Novak, a long-time affordable housing developer at a project she once worked on in Prospect Lefferts Garden, Brooklyn. And we learn why, when it comes to community engagement, development can be fraught. [5:50 - 13:00] Alison gives us the breakdown of a development project, from how developers determine their pro forma, to when and how they refine the architectural design, to the risks involved in creating and getting approval for planning documents. [13:01 - 17:00] Alison describes the beginning of a shift toward more inclusive development happening in the industry, and why this matters now more than ever.  To see images and videos of topics discussed in this episode, read the link-rich transcript on our  at . City of the Future is hosted by Eric Jaffe and Vanessa Quirk, and produced by Guglielmo Mattioli. Story editing by Rough Cut Collective and Benjamin Walker. Mix is by Andrew Callaway. Art is by Tim Kau. Our music is composed by Adaam James Levin-Areddy of . Special thanks to Alison Novak, Jesse Shapins, and Chrystal Dean.

BONUS: Development 101

Cities across the U.S. are suffering from dire housing crises. Housing supply is low, and prices are high —&nbsp;in some cities, sky high. And wages and income aren't keeping up. Many struggle to make rent, let alone save for a home. So it’s no wonder that affordable housing programs often focus on getting people into homes —&nbsp;people need help now. But we also need long-term solutions that could help renters generate wealth they could pass on to their families and children. In other words, as essential as affordable housing is, it isn't enough on its own to close the wealth gap, which in the U.S. is particularly stark between Black and White Americans. In the first episode of our new season of City of the Future, we talk to the founders of  and Portland’s  and explore new economic models that could help renters, particularly immigrants and new arrivals, become home or partial building owners — and have the opportunity to access multi-generational wealth as a result. In this episode:  [00:00 - 04:24] Marc Norman, associate professor in affordable housing, talks about the racial wealth gap and new economic models that could help non-homeowners generate wealth to pass on their families and children. [04:55 - 15:02] We speak with Abbey Wemimo and Samir Goel, the co-founders of Esusu, which helps renters achieve and improve credit scores by paying their rent on time. [15:03 - 26:34] Vanessa flies to Portland, Oregon to meet John W. Haines, organizer of Plaza 122, the country’s first Community Investment Trust. We also meet with Yonas Kassie, Hawi Muleta, and Sonya Damtew of the Ethiopian and Eritrean Cultural and Resource Center.  To see images and videos of topics discussed in this episode, read the link-rich transcript on our  at . City of the Future is hosted by Eric Jaffe and Vanessa Quirk, and produced by Guglielmo Mattioli. Story editing by Rough Cut Collective and Benjamin Walker. Mix is by Andrew Callaway. Art is by Tim Kau. Our music is composed by Adaam James Levin-Areddy of . Special thanks to Marc Norman, Abbey Wemimo, Samir Goel, John W. Haines, Yonas Kassie, Hawi Muleta, Sonya Damtew, Annie Koo, Alison Novak, Jesse Shapins, and Chrystal Dean.

Episode 16: From Owing to Owning

Cities throughout the U.S. (and around the world) are struggling with the many issues that come with neighborhood growth and displacement. But what if, instead of being negatively impacted by development, residents benefited from it instead? In this episode — part two of our two-part series on new models for wealth-building — we explore “neighborhood REITS,” a model that helps community members invest in local development projects. This innovative approach can help folks participate in their own communities’ growth, and&nbsp;as we see through the work of ,&nbsp;it can also potentially begin to redress some of the racial inequities that have been baked into our housing system for decades. In this episode:  [00:00 - 05:30] Local Portland artist Cleo Davis shares the struggles of gentrification that destroyed the legacy of his community in the historically Black neighborhood of Albina. [06:16 - 13:07] , associate professor in affordable housing, breaks down a new wealth-building model called a neighborhood REIT. [13:08 - 23:09] Rukaiyah Adams, Board Chair of the , discusses the history of Lower Albina and her hopes that a neighborhood REIT could be one way to help people access the multi-generational wealth that they were denied. [23:10 - 25:37] Cleo Davis wraps up with the hope that Albina Vision will be the greatest monument to Black creativity and prosperity that the neighborhood could have.  To see images and videos of topics discussed in this episode, read the link-rich transcript on our  at . City of the Future is hosted by Eric Jaffe and Vanessa Quirk, and produced by Guglielmo Mattioli. Story editing by Rough Cut Collective and Benjamin Walker. Mix is by Andrew Callaway. Art is by Tim Kau. Our music is composed by Adaam James Levin-Areddy of . Special thanks to Cleo Davis, Marc Norman, Rukaiyah Adams, Winta Yohannes. Annie Koo, Alison Novak, Jesse Shapins, and Chrystal Dean.

Episode 17: Wealth Beyond Ownership

Innovation ecosystems — places where companies and anchor institutions cluster and connect with startups, incubators, and smaller accelerators — are far from a new urban trend. As technology has become core to our economy in the past few decades, big coastal cities like Boston, San Francisco, and Seattle have become big tech innovation ecosystems, attracting more and more talented workers, startups, and investment capital from across the country and the world every year.&nbsp; Despite all the growth spurred by these tech-based innovation ecosystems, the resources and the capital haven't been shared equitably with existing communities. Additionally, as we’ve seen in these big coastal cities, the creation of housing hasn’t kept up with the influx of workers — causing prices to skyrocket and creating new challenges for lower-income groups and people of color. But there’s a new global trend happening to intentionally plan innovation ecosystems in a way that still brings the advantages of economic opportunity and jobs, while also attempting to share the benefits more broadly. In this episode, we explore this new generation of innovation ecosystems that could not only spark economic growth, but offset some of the urban development approaches that have left too many neighborhoods behind. In this episode:  [0:00 - 5:50] Phil Armstrong, executive director of Greenwood Rising Black Wall Street History Center, and Trey Thaxton, entrepreneur and owner of the Tulsa-based Goldmill Co. and Greenwood Ave. cover the history of Tulsa, Oklahoma, and what tomorrow could look like with a new innovation ecosystem in place. [5:51 - 10:33] The podcast hosts Vanessa Quirk and Eric Jaffe discuss Innovation Ecosystems and how a mixed-use innovation ecosystem in neighborhoods might benefit from the opportunities by staying in their communities as well as generating wealth over time. [10:34 - 22:16] Landon Taylor, co-founder of Legacy First Partners, and Victor MacFarlane, founder and CEO of , explain their vision for the Freedom West that will allow the residents to have access to job training, entrepreneurship training, and access to capital to allow them to participate in the 21st-century economy. [22:17 - 29:03] Randy Wiggins, founding managing director of , and Brian Brackeen, general partner of  strives to build Tulsa as the most Black entrepreneur-centric ecosystem in the country and in the world.  To see images and videos of topics discussed in this episode, read the link-rich transcript on our  at  City of the Future is hosted by Eric Jaffe and Vanessa Quirk, and produced by Guglielmo Mattioli. Story editing by Rough Cut Collective and Benjamin Walker. Mix is by Andrew Callaway. Art is by Tim Kau. Our music is composed by Adaam James Levin-Areddy of . Special thanks to Phil Armstrong, Trey Thaxton, Landon Taylor, Randy Wiggins, Brian Brackeen, Alison Novak, Jesse Shapins, and Chrystal Dean.

Episode 18: Innovation Ecosystems 2.0

In the early 20th century, many U.S. factories were located in urban cores, where workers could easily access their jobs. But the benefit of proximity also meant workers lived near loud, polluting factories. And as we know from the history of zoning in the U.S., low-income people frequently had no option but to live in neighborhoods built around intense industrial use. The consequences of those land use decisions are felt most severely today by communities of color, who continue to suffer from higher rates of health issues like asthma and cancer. So bringing manufacturing back to urban neighborhoods — especially neighborhoods that may have been exposed to the harms of the industry — may seem fraught. But it also offers an opportunity to right some of these historic wrongs. In this week’s episode of City of the Future, we explore the idea of bringing a new generation of cleaner, greener manufacturing facilities back into our urban cores. We talk to folks at Buffalo’s , the , and the Boston-based development . We also consider the potential for next-gen manufacturing to create wealth-generating opportunities for people who need it, jumpstart development in disinvested communities — and even provide a new, more resilient economic model for our cities. In this episode:  [00:00 - 1:33] A brief history of urban manufacturing in the U.S. from World War II to present. [1:34-5:32] We interview an expert in workforce development, , in Buffalo, New York about , an organization with a mission to prepare local residents for careers in advanced manufacturing and clean energy. [6:44 - 8:56] Hosts Vanessa Quirk and Eric Jaffe discuss how the 20th-century history of zoning and land-use decisions around manufacturing negatively impacted low-income and Black neighborhoods. [8:57 - 16:24] The ’s chief development officer  introduces us to different folks who work at the Yard’s next-gen manufacturing companies, including ’ chief operating officer, . [16:25 - 25:50] We talk to ’s director of real estate, , and director of strategy and development,  who show us around one of their most recent projects,  — a real live next-gen manufacturing ecosystem!  To see images and videos of topics discussed in this episode, read the link-rich transcript on our  at . City of the Future is hosted by Eric Jaffe and Vanessa Quirk, and produced by Guglielmo Mattioli. Story editing by Rough Cut Collective and Benjamin Walker. Mix is by Andrew Callaway. Art is by Tim Kau. Our music is composed by Adaam James Levin-Areddy of . Special thanks to Stephen Tucker, Johanna Greenbaum, James Williams, Beth O’Donnell, Kimberly Lyle, Alison Novak, Jesse Shapins, and Chrystal Dean.

Episode 19: Next-Gen Manufacturing

E-S-G. If you haven’t heard that term before, it stands for Environmental, Social, and Governance. It’s a framework that investors use to help them decide whether or not to put money into a company. Over the last 20 years, investors have increasingly embraced the “E” in ESG, and ESG funds are now consistently driving strong returns. In fact, 2020 was the biggest year for ESG-investing yet.&nbsp;&nbsp; With the events of 2020, the “S” of ESG —&nbsp;which includes some of society’s toughest problems, like economic opportunity and racial inequity —&nbsp;has come to the forefront. Investors are, more and more, pursuing socially-minded ESG investments. And this pivot has huge implications for real estate, as investors are now ready and willing to lend capital to real estate companies that are pursuing projects with real social and racial impact. But what do those projects look like,&nbsp;and how can real estate transform the development process to achieve them? As we’ve explored throughout this season of City of the Future, developing socially-minded projects is a complex undertaking. Our season finale explores ways developers can begin to figure out what this “S” piece of ESG means. And if they can, it’s not just real estate that will benefit —&nbsp;our cities will, too. In this episode:  [00:00 - 05:34] The founder and CEO of , , describes investors’ embrace of the “E” of ESG. [05:35 - 8:29] Associate director of inclusive development at , Chrystal Dean, explains why it’s time for development to tackle the “S” of ESG. [08:30 - 15:07] The principal and CEO of , , talks about the kinds of long-term, socially-minded metrics developers need to track. [15:08 - 19:22] Director of development and external affairs for , , explains how to create social metrics in collaboration with communities. [19:23 - 27:07] The hosts, Vanessa Quirk and Eric Jaffe, discuss the development business case for socially-minded projects with associate director of inclusive development at , Chrystal Dean.  To see images and videos of topics discussed in this episode, read the link-rich transcript on our  at . City of the Future is hosted by Eric Jaffe and Vanessa Quirk, and produced by Guglielmo Mattioli. Story editing by Rough Cut Collective and Benjamin Walker. Mix is by Andrew Callaway. Art is by Tim Kau. Our music is composed by Adaam James Levin-Areddy of . Special thanks to Brad Dockser, Carlton Brown, Chrystal Dean, and Morgan Malone.

Episode 20: The "S" in ESG

City of the Future is a new podcast from Sidewalk Labs. Each week, we explore an idea or innovation that will transform our cities.

Episode 17: Wealth Beyond Ownership

City of the Future

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