PLACE-MAKING
Finding Inspiration in Every Turn
Learn about Place-making from an expert.
“Place-Making” and Re-Imagining a City. Creating Inclusive Economic Development Through Real Estate Innovation and Social Value Creation.
WHAT IS PLACE MAKING
What do you mean by “Place-making” to foster economic development?
In today’s real estate market, the most important decision people make is the place they choose to live. Communities seeking new economic development and job growth must position themselves to attract new residents by becoming a place of innovation and creativity.
Real estate is the “currency for economic development and job creation” in today’s economy. Creatively repositioning under-productive real estate assets through “Placemaking” economic development strategies will stimulate new demand and private investment in communities.
Generating new demand for under-productive real estate remains a major challenge during these uncertain economic times. That is why understanding the importance of “Placemaking” and the “Creative Class” to driving real estate demand is essential today, since the most important decision in people’s lives today is where they choose to live. Communities that recognize this new market paradigm, and develop innovative real estate and “Placemaking” strategies targeting the “Creative Class,” will capture more than their fair share of future market demand, economic growth and new jobs.
Who are the players and how do we translate the concept into economic development for communities?
Corporations, universities, government, and healthcare providers also play a critical role today in “placemaking”, attracting the “Creative Class,” and developing ecosystems that drive economic development. The challenge facing many communities today is how key stakeholders can take corporate location decisions, downsizings, facility closings, and consolidations and turn them into exciting and innovative new value creation strategies that result in future social value creation and community benefits.
Fostering new economic development and private investment in communities can be accomplished through bringing key stakeholders together and developing innovative strategies that bring new jobs and real estate value to communities who are struggling to find pathways to economic growth by:
Creating strategic marketing plans and new “market stories” that transform under-productive real estate assets into economic development catalysts that attract new investment.
Developing “Placemaking” and branding strategies that help communities “tell their market story” and articulate “why” someone would want to choose to locate their company or family there.
Exploring how corporate, governmental, and university real estate decisions can foster new economic development, business entrepreneurship and acceleration, and social value creation through rebranding real estate (university research parks, city labs).
David Wilk
Temple University
Fox School of Business and Management Finance
Assistant Professor of Practice
David Wilk is a Place-making expert Dr. David Wilk, MAI, CRE joined the Fox School of Business in 2018 and serves as an Assistant Professor in the Finance Department and Director of the Real Estate Program. He has 34 years of academic experience teaching undergraduate and graduate real estate courses at the University of Delaware Lerner College of Business (1989-2012), Johns Hopkins University Carey Business School (2012-2017), and Georgetown University (2016 to 2018). Dr. Wilk has been a management consultant for over 35 years including senior positions at Valuation Research Corporation, Arthur D. Little, EY, Duff & Phelps, SVN, and Colliers International. His specialization is creating value for real estate assets held by public and private enterprises, private equity, governments, universities, healthcare systems, and non-profits through optimization strategies that measure and deliver new earnings and cost savings. Dr. Wilk also performs valuations, market feasibility studies, property tax consulting, development advisory, “place-making” economic development strategies, and innovative marketing plans that reimagine undervalued urban neighborhoods with existing residents in place. Throughout his career, Dr. Wilk has completed commercial, industrial, residential, agricultural, governmental, and institutional real estate projects in 49 states in the U.S., Canada, Mexico, Europe, South America, the Caribbean, Asia, and the South Pacific. He is a member of the Appraisal Institute (MAI) and Counselor of Real Estate (CRE). Real estate consulting highlights from Dr. Wilk’s career include; Pebble Beach Company, Aspen Skiing Company, 20th Century Fox Studios, The Irvine Ranch, Madison Square Garden, Santa Anita Racetrack, Dover Downs, Elvis Presley Enterprises (Graceland), Hyatt Regency & Four Seasons Hotels in Hawaii, Baltimore’s Power Plant, Art Deco Hotels in South Beach, Pennsylvania Convention Center and Marriott Hotel, Comcast Cable Systems, Bikini Atoll in Micronesia (South Pacific), U.S. military locations in Hawaii and California, and NASA Wallops Island Space Port in Virginia. Dr. Wilk has been a regular keynote speaker at real estate and economic development industry conferences (Appraisal Institute, Counselors of Real Estate, Urban Land Institute, IEDC, CoreNet Global, IFMA, SAP), and has presented over 10 Symposia on Real Estate and Human Capital Asset Optimization and Place-Making Economic Development at the Universities of Delaware, Illinois, Salisbury, Florida Atlantic, Delaware State, Washington, Johns Hopkins, and Temple since 2012. https://templeuniversity14.createsend.com/campaigns/reports/viewCampaign.aspx?d=j&c=A1422719EFAD955F&ID=E513FDEDA0B868A52540EF23F30FEDED&temp=False&tx=0 Dr. Wilk’s entrepreneurial activities include co-innovating a data analytics platform with SAP (“Corporate Real Estate Earnings Diagnostic” – CREED® www.thecreedapp.com) and creating i3o, a consulting analytics platform focusing on how innovation, infrastructure, and inclusion can drive optimization of real estate and human capital. His community service activities include being Chair and Interim CEO of the non-profit organization, Friends of Hockessin Colored School #107, where he led the efforts to transform a former school in Hockessin, DE into a Center for Diversity, Inclusion and Social Equity over the past 12 years. https://www.fox.temple.edu/news/2020/11/finance-professor-wilk-excited-future-diversity-center-hockessin Dr. Wilk has a Bachelor of Science in Business Administration from the University of Delaware, a Master of Science in Real Estate and Infrastructure from Johns Hopkins University, and a Doctor of Business Administration from Temple University Fox School of Business. Thank you, David Wilk
Conversation between David Wilk and Arthur Rosenfield, Long Island City / Astoria in 2012 that accelerated growth for community. A SYMPOSIUM was organized for February 2013.
PLACE-MAKING SYMPOSIUM
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