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Land and real estate developers

Real estate developers can transform the physical landscape of districts, creating attributes of complexity, density, and mixed uses and activities. They can also be district champions—thinking and supporting the district over the long-term and being the bridge for companies to move into a district.

The role of real estate developers

Whether government-owned or privately-led, real estate developers play a role in advancing a district’s physical and economic transformation. Yet, research and deep engagement with many different types of developers demonstrates there is a more valuable way to make some distinctions: 

  • Short-term view: Some developers seek short-term returns and, as a result, focus on district land as a “real estate play.” In these cases, real estate projects and development commonly counter the long-term goals of innovation districts, which is to create an innovation ecosystem that builds on local strengths.
  • Long-term view: Other real estate developers work with the goal of building social networks and R&D ecosystems first and subsequently shaping a real estate plan to meet those objectives. These types of developers tend to work in partnerships with investors that also possess a long-term view and more patient capital.

Our work with innovation district leaders suggests in some places, real estate developers are met with caution, if not disdain. However, the right developer can become one of the district’s most focused and action-oriented champions. The key is to assess their prior projects and goals—and their ability to strengthen ecosystems.

Who Advances Districts?

Other actors advancing innovation districts

Actors advancing R&D

Universities & medical institutions, R&D magnets, Companies

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Ecosystem builders

Accelerators and incubators, Other types of intermediaries, New kinds of anchors

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Investors

Governments, Philanthropists, Real Estate Developers, Other investors

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Mission-driven organizations

Mission-driven organizations

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