Very interesting activities in DC. Might be rare, even globally.
A local lawmaker (Mr. White) is actively fighting against gentrification, and aiming to slow it down using his ‘voting’ ability.
This is certainly against the grain. It is worth it for Mr. White to push back on this real estate development deal?
The answer likely depends on one’s goals, and time points to make it happen.
Homeowners in the distressed neighborhoods where activities are being proposed, would likely welcome ANY investment. They’re simply seeking rising home values, and as soon as possible.
Still, as a fact, some investments are going to have a higher ROI than others. Can we forecast where there will be a higher ROI?
What do the studies say about how to close wealth disparities by race?
Do apartment, hotel, office, retail spaces in the real estate sector close wealth disparities by race?
We know, that disparities are widest in DC.
Health and wealth disparities are the worst in DC — the question is, will the new apartments and hotels backed by DC tax payers help??
Disparities are lower in places like New York and North Carolina – is that attributable to the real estate sector?
More managers from economically disadvantaged families work in healthcare, marketing, and education sectors than other sectors of the economy.
If places like DC, where the wealth gap by race is widest, spends more dollars in healthcare, marketing, and education sectors, then there is a higher chance of historically economically disadvantaged American people getting management jobs to hire their families, and move into the neighborhood. As they’re moving into the neighborhood, housing values will rise.
Again: Cities might promote and invest into the sectors that employ the largest number of managers from historically economically disadvantaged families.
What is DC doing to drive more healthcare dollars to DBE clinicians and healthcare executives?
Research what was done in DC recently on an $80m healthcare project that was awarded to a DBE then snatched back in 46 days.
Research and look into what’s happening to Howard right now, and the effect on race-based workforce shortages. Howard University Medical School, particularly, is veritably a path out of poverty for academically gifted black American youths – as it produces more black American doctors than any other medical school globally.
Lower revenues to Howard jeopardizes the accreditation. The lack of training sites for clinicians from economically disadvantaged households simply won’t be replaced by neighboring medical schools.
For a city with majority black American youths, the institution and other black owned healthcare companies must be allowed to thrive economically by city leaders.
Merely viewing how a city or State treats its economically disadvantaged healthcare industry workers, in effect determines largely the wealth gap by race within that jurisdiction.
Merely viewing the $80m DBE example and the Howard example, it is obvious why the DC wealth gap is the widest nationally.
Number One Sector Employing People from Economically Disadvantaged Families: HEALTHCARE
Investment by a local Gov’t alone is unlikely to boost home values. A local gov’t by definition only takes money (through taxation) from the local people. If the local dollars weren’t available to boost housing values before taxes, they certainly won’t magically appear to boost housing values after local taxes are collected.
See where housing values are higher, vs the rest of the country.
Driving housing values UP often takes innovation – – ask Seattle and Silicon Valley.
It takes a ruthless drive for global economic power – – ask Manhattan.
It takes beautiful geography and good weather – – ask Beverly Hills.
Merely investing into real estate, builds useless ghost towns – – just ask China.
But certain industries are proven to get more local economically disadvantaged residents into full employment.
Consider these sectors, when targeting economic development investments sponsored by the local municipal budgets. But #1 = healthcare.
Invest municipal and State gov’t dollars into healthcare companies owned by economically disadvantaged people, and economically disadvantaged healthcare workers will move into the neighborhood. Per supply and demand, property values naturally rise when all the NMA, NBDA, ABHP, and NAHSE members move in the neighborhood.
When all the doctors and scientists from economically disadvantaged families move in the neighborhood, they will make the investments into restoring homes for their family.
Outdoors, will be renovated.
Indoors, will be even more beautiful…
As long as cities and States continue to economically strangle healthcare industry professionals from families who are at higher risk of being economically disadvantaged, our neighborhoods will continue lagging in value and will fail to reach their potential.