Corporations like Google and Amazon reap the spoils of winner-take-all urbanism. Here’s how they can also bear greater responsibility.
As some of the main drivers and primary beneficiaries of the recent urban revival, anchor institutions are often the largest employers in their communities. While typical examples of “anchor institutions” include large universities, hospitals, and medical centers—so-called “meds and eds”—that quite literally anchor urban centers, other powerful anchors, including successful high-tech companies and real estate developers, have the capacity and resources to wield enormous influence on today’s cities.
However, the last decade has given rise to a troubling pattern of “winner-take-all urbanism” in which a select group of large, dense cities and an even smaller number of neighborhoods reap the spoils of innovation and economic growth. Anchors benefit enormously from this recent urban revival. And as a result, they must commit themselves to generating more inclusive prosperity.
To solve our modern urban crisis, we need a broader, more encompassing strategy of inclusive prosperity that allows all residents and neighborhoods to benefit from urban revival. In a new study with Steven Pedigo, my colleague from the NYUSPS Urban Lab at the Schack Institute of Real Estate, we outline the role that anchors can and must play in creating inclusive prosperity in our urban centers.
CITY LAB
RICHARD FLORIDA SEP 21, 2017