2024 Theses Master's

How to Invest: A Neighborhood Development Tool

Cooksey, Teonna N.

Establishing an analysis tool that provides a synopsis of a site’s trajectory to inform investors how they can add value to a neighborhood while mitigating negative externalities will generate positive neighborhood growth. Created in collaboration with RiseBoro Community Partnership, Inc., the Rheingold Redevelopment in Bushwick, Brooklyn is used as a case study to understand the dynamic nature of investing in a community. As a significant catalyst for strategic partnerships, community-engaged planning practices, and employing equity frameworks, the rebuilding of a once active brewery site turned derelict community reveals techniques for funding 100 percent affordable housing in Bushwick’s urban landscape. It also demonstrates the ripple effects that can result from the remediation of a brownfield site.

This study envisions a tool that integrates the Bushwick Community Plan, Community Board 4’s Responsible Development Policy, and RiseBoro’s Strategic Plan to prototype a balanced approach addressing real estate market nuances and community needs. The purpose is for stakeholders to explore various aspects of neighborhood development, offering a platform for community involvement, education, and effective urban planning. RiseBoro's vision is to “build a city where your zip code does not determine your health outcomes, housing stability, or economic power.” Considering this vision as a baseline for analysis, the tool called ‘Urban Synthesis’ in this text, incorporates economic theories, health indices, and geographic information systems to conceptualize an interactive online platform to garner equitable investment practices.

Keywords: Community Efficacy, Economic Mobility, Gentrification, Geographic Information Systems, Health Equity, Housing Development, Investment, Neighborhood Development, Resiliency