Due to its intricate logistics, number of stakeholders, and financing structure it necessitates a much longer timeframe to plan, arrange commitments, and implement.Īs can be viewed from the above, intentionality, impactful, long-term, addressing a significant social (or environmental) ill, and authentic community engagement are hallmarks of social impact real estate. Its funding capital stack is complex, diverse, and multi-layered. It is produced as a collaboration between multiple economic sectors, often including government, nonprofit organization(s)/philanthropy, for-profit business, and the community. Often it also has these additional traits (though not always): It produces not just economic returns for a developer/investor and their project funders, but also delivers long-term value creation for multiple stakeholders (what is appropriate is defined by each). Its design and purpose respects the existing physical and social fabric of a neighborhood. It authentically involves the local community through engagement and project input. It addresses a significant systemic challenge faced by a community or large population group. It creates benefits for an entire community, not just a small sector. It prioritizes people, community, and the environment as highly as it does economic returns. It is intentional-that is, the investment has been made intentionally to create social impact. Based on academic, industry, and business research, it reveals eight primary requisite characteristics, and three other secondary or potential present traits are necessary for a real estate project or investment to be authentic social impact real estate. (For more information on JJK Places’ role in real estate, please refer to the ABOUT section of this website.)įirst, one must define what “social impact real estate” is and is not. In addition to producing and consulting on social impact real estate development projects (i.e., the “production side” of real estate development), JJK Places will seek to be positioned as a safe, dependable, and well-respected conduit for investing impact capital in the Denver and Colorado real estate markets (i.e., the “funding side” of real estate development). The inevitable increase in impact investment money being available for social impact real estate (“SIRE”) deals in coming years is one of the many reasons for the creation of JJK Places: it is positioned to take advantage of such capital sources in the future. However, one of the most common complaints voiced by fund managers is that there has not been an ample supply of social impact real estate projects developed and available for lending to or investing in. In the last few years this has been changing, with the advent of a number of social impact investment companies and funds that specialize in real estate. They have earned our highest recommendation.Although impact investing has grown tremendously over the last decade, it has been relatively slow to find its way into real estate in any significant way. I just can’t imagine going forward without Impact Property Management, Mike Herman and his office. I hope this relationship continues as long as we own this property. We’ve had a broken appliance - easy for us and for the tenant. Impact real estate management professional#
We’d become so used to having to write checks, we forgot this was an income property! And, it’s not just Mike - his office staff are very professional and prompt. We did have a potential tenant pull out, but Mike made it a non-issue - he just found someone else! We’ve been in a lease for a bit now and the first time they deposited lease proceeds into our account, we thought there must be a mistake. From the initial phone call through the signing, it’s been a wonderful experience. It’s not an easy house, as it’s quite small on a large piece of property. It was either that he’d succeed or we’d sell the house - it was just too much work. Mike Herman was recommended by an agent that sold our other home in the area. Two prior firms were unable to even fulfill planting a sign, much less completing a lease.
We are new to the property management game, and live out of state.
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