Brookings will present new data for each study area on vacancies, surface parking lots, and land ownership. Brookings will also present qualitative findings related to land ownership and underutilized space downtown.
This virtual session aims to:
Understand the business model and incentive structures that a typical CRE investor/owner with properties downtown are responding to.
Use data to calibrate baseline assessment and future expectations of study area real estate conditions through comparative analysis of conditions across cities.
Gain insight into which obstacles, levers, and hands are best paired together in order to achieve CRE movement in the study area.
Local Spotlight: Cincinnati Center City Development Corporation (3CDC)
Panel Discussants:
Katie Westbrook, Senior Vice President, Development, 3CDC
Katie Westbrook is a homegrown talent at 3CDC from intern to SVP. Her responsibilities include the overall management of the Development team, which includes managing the development staff, project management, underwriting of projects, closing permanent financing for construction, and management of the project team through completion. The Development Team has been involved with more than $2 billion worth of development work since 2003.
Emily Mack, CEO of River City Company
River City Company has played an integral role in the redevelopment and revitalization of Downtown Chattanooga. Created as a private non-profit in 1986 to implement a 20-year twenty-two mile blueprint for Chattanooga's riverfront and downtown development, the non-profit was originally capitalized with $12 million from local foundations and financial institutions. By working with local government, the private sector and the philanthropic sector, River City Company supported and developed specific projects in Downtown Chattanooga as a public purpose development company.
Pat O’Brien, Milwaukee Development Corporation
The Milwaukee Development Corporation (MDC) is a catalytic community based real estate and business development organization. MDC initially provided private-sector leadership and financial support to revitalize downtown Milwaukee through the backing of 46 leading Milwaukee businesses. Its priority was stabilizing the retail district west of the Milwaukee River. The development focus was a $150 million venture that included the construction of the Hyatt Regency, the Henry Reuss Federal Plaza and the Grand Avenue. Today, MDC continues to initiate and promote projects that support the Milwaukee community. MDC is active in the Pettit Ice Center, 30th St. Industrial Corridor, City of Milwaukee Downtown Stakeholders, Menomonee Valley Partners, and the W. Wisconsin Avenue Task Force.