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Investment intermediaries in economic development: Linking public pension funds to urban revitalization

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  • Gordon L. Clark
  • Lisa A. Hagerman
  • Tessa Hebb

Abstract

It is difficult for large investors, such as pension funds, to make investments in EDMs because they must make very large investments. The investments in communities of need, however, are usually small. The most successful strategy to overcome these two problems is for investors to work in concert with intermediaries that can aggregate the investments and community partners that understand both the need of communities and know how to tell ?the story? to investors.

Suggested Citation

  • Gordon L. Clark & Lisa A. Hagerman & Tessa Hebb, 2007. "Investment intermediaries in economic development: Linking public pension funds to urban revitalization," Community Development Innovation Review, Federal Reserve Bank of San Francisco, issue 1, pages 45-65.
    • Handle: RePEc:fip:fedfcr:y:2007:p:45-65:n:v.3no.1
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    Cited by:

    1. Thierry Theurillat & Patrick Rérat & Olivier Crevoisier, 2015. "The real estate markets: Players, institutions and territories," Urban Studies, Urban Studies Journal Limited, vol. 52(8), pages 1414-1433, June.
    2. Thierry Theurillat & Olivier Crevoisier, 2013. "The Sustainability of a Financialized Urban Megaproject: The Case of Sihlcity in Zurich," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 37(6), pages 2052-2073, November.
    3. Colby Dailey & Ben Thornley, 2010. "Building scale in community impact investing through nonfinancial performance measurement," Community Development Innovation Review, Federal Reserve Bank of San Francisco, issue 01, pages 01-46.
    4. Thierry Theurillat & Jose Corpataux & Olivier Crevoisier, 2008. "Property Sector Financialization: The Case of Swiss Pension Funds (1992--2005)," European Planning Studies, Taylor & Francis Journals, vol. 18(2), pages 189-212, December.
    5. Tessa Hebb & Ashley Hamilton & Heather Hachigian, 2010. "Responsible Property Investing in Canada: Factoring Both Environmental and Social Impacts in the Canadian Real Estate Market," Journal of Business Ethics, Springer, vol. 92(1), pages 99-115, April.
    6. Christian Livi & Pedro Araujo & Olivier Crevoisier, 2012. "Les territoires de l'innovation "durable": des milieux locaux à la communication "responsable". Les cas du photovoltaïque et de la finance durable en Suisse occidentale," GRET Publications and Working Papers 05-12, GRET Group of Research in Territorial Economy, University of Neuchâtel.
    7. Hilary Botein & C Patrick Heidkamp, 2013. "Tax lien sales as local neoliberal governance strategy: The case of Waterbury, Connecticut," Local Economy, London South Bank University, vol. 28(5), pages 488-498, August.

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