UrbanAmerica’s Downtown Renaissance approach is dedicated to a community-centric, bottom-up approach to redevelopment. The inclusion of the community is an essential component of creating the right development vision to meet and overcome the complexities of downtown revitalization through the creation of a shared vision between the Municipality, private property owners and key community stakeholders.
Among the benefits of UrbanAmerica’s innovative approach is an implementable development model that is market driven and meets the wants of the community, while also providing a clear mechanism to ensure that the whole is greater than the sum of the parts.
By taking a triple bottom line approach to its redevelopment efforts—social, economic and environmental responsibility—UrbanAmerica is able to provide significant benefits to the communities in which it works through the creation and implementation of Smart Growth, mixed use, transit-oriented development plans.
In addition to residential units, both condo and rental, UrbanAmerica implements ideas and strategies like a performing arts component, a boutique hotel, office space and retail. High-end amenities, such as urban agriculture, rooftop gardens, and public piazzas to hold farmers’ markets and events will be highlights of any downtown/urban renewal effort.
UrbanAmerica has participated both as developer and master planner on numerous projects such as Lauderdale Lakes Shopping Center, an 18 acre mixed use project in Florida, as well as serving as master developer in the Village of Hempstead in New York, a 130 acre, $2 billion mixed use project. These mixed use developments create jobs, hence stimulating economic development and increasing tax revenue in communities.
UrbanAmerica is part of the General Partnership for Finningley, a 66,00 acre, $9 billion project near Durban, South Africa. The “green” City will generate thousands of jobs and be comprised of residential, office space, hospitality, healthcare, and educational facilities. This project when completed will be home to some 50,000 residents.
Attracting Private Capital into Low-Income Communities
The NMTC Program attracts private capital into low-income communities by permitting individual and corporate investors to receive a tax credit against their federal income tax in exchange for making equity investments in specialized financial intermediaries called Community Development Entities (CDEs). UrbanAmerica, LLC has been a federally certified Community Development Entity (CDE) since 2000 and is an industry leader.
To date UurbanAmerica, LLC has invested $267.0M in New Markets Tax Credits to help finance $845.6M of projects.
Once UrbanAmerica, LLC’s remaining allocation is fully deployed, its investment efforts will have spurred the financing and development of over 2.5M square feet of combined commercial, retail, healthcare, industrial, not-for-profit and community space and 153 rooms of hospitality while also creating approximately 9,886 permanent and temporary jobs in low-income communities.
The new entity Urban America Platform Partners, LLC is a partnership between Gil Berry and associates of Pittsburgh, Pa which is a HUD section 3 certified national real estate developer and construction manager. It focuses on assisting national constructing companies who access public dollars in their compliance with section 3 by partnering in numerous areas of construction and professional services related to real estate projects including building supplies. Another primary focus of UA Platform Partners, LLC is to co-develop master planned communities with tenant-based Resident Management Corporations and their non-profit entities to create innovative communities that address generational poverty while providing an institutional infrastructure creating fiscal stability with a focus on compliance in the use of public funds and designing maximum community impact and sustainable outcome in the areas of green technology. Economic benefits for the stakeholders are the healthy well-being including access to healthy foods and health care for the residents.