Equitable Development Strategy

During the past three years, NRRC has been formulating an “Equitable Development” Strategy for the Near North and Willard Hay neighborhoods. Our historical practices and new strategies are consistent with the framework shaped by Policy Link. The Equitable Development approach challenges traditional economic development and recognizes that low-income communities have not had the level of economic investment that would fully utilize the assets of their residents. Our vision is for residents to participate in and/or benefit from the regional planning and development occurring around them.

The principals of Equitable Development embraced by NRRC are:

• Integrate People and Place - People focused strategies and place-focused strategies: NRRC bases its community building work on the premise that residents have the power and vision to direct activities in their neighborhood that bring about positive social and economic change and serve as a vehicle for active and effective citizen participation. NRRC is a place-based community development corporation that is governed by residents of its community.
• Reduce local and Regional Disparities- Attention to both regional and inner-city strategies must be made: NRRC has and continues to address the economic disparities of homeownership between Whites and People of Color in the metropolitan area by providing affordable ownership opportunities in its communities. The ownership rates for people of color are below 30% verses white ownership at 71%. Near North and Willard Hay are minority neighborhoods that have the opportunity to increase ownership, but is challenged by assisting families to maintain ownership in ambiance to the dominance of predatory lending activities and practices.
• Promote Double Bottom Line Investments- Providing financial returns for investors and social and economic benefits for residents: These opportunities include developing affordable rental housing and single-family home construction and renovation, providing small business assistance and rental property management, lobbying for increased employment services, and organizing the community around quality of life concerns.
• Ensure meaningful community leadership, participation and ownership- Community residents and organizations must also have access to the tools, knowledge and resources that can guarantee meaningful participation in the development process: As part of this vision, NRRC has always played a pivotal leadership role in working with resident leaders to bring in new economic opportunities. NRRC, through its Board of Directors, which is elected by residents, provides training opportunities to enhance their leadership skills.