Building Business, Building Communities: The Value of Affordable Commercial Space

As cities grow and prosper, existing, diverse communities often face displacement pressures. While much attention has been paid to residential displacement and the creation of affordable housing, there are fewer examples of anti-displacement and retention strategies for small businesses and the creation of affordable commercial space. Panelists from public, private, and civic organizations from across the country will speak about efforts to create affordable commercial space on retail corridors, in private development projects, and via community-owned real estate—complemented by other important types of support for small businesses, with an emphasis on supporting businesses of color and women-owned businesses. These strategies are important not only for advancing equitable economic development, but for ensuring unique and authentic retail environments that create both social and economic value. The panel will include an overview of national trends and case studies from different cities. This includes the Atlanta Beltline's efforts to support commercial affordability in Atlanta, the Center for Community Wealth Building's efforts to leverage community-owned real estate in Denver, and a private developer's efforts to create affordable commercial space within a new real estate development. The discussion will highlight the roles that the public, private, and not-for-profit sectors can play in creating affordable commercial space.