While much of the focus in CoolTowns is in providing workplaces for the entrepreneurially creative, larger companies will find tremendous benefits in relocating to a CoolTown as well. Here’s how some progressive investors are planning on that:
The key reason why most corporations don’t occupy downtown space is that it simply costs a lot more than in the suburbs, the same exact reason given by Gen Xers. The solution provided by capacity-rich investors is investing in large economically-disadvantaged areas that can be developed into a safe, vibrant stand-alone mixed-use community.
With a pre-tenant financing program, corporate and individual tenants alike can ideally purchase land for workplaces at 3-5 times less than high-rent urban areas, yet be part of the design-process to establish a sense of community, nightlife and services that exceed those areas.
The photo is from Gensler, one of the leading corporate workplace designers in the world.