« May 6, 2007 - May 12, 2007 | Main | May 20, 2007 - May 26, 2007 »

May 18, 2007

Crowdfunding

You can 'co-own' a sports team, a band, a movie... and soon buildings

MySpace, Wikipedia, YouTube... are all making money hand over fist for its owners based on the crowdsourcing model where thousands of its users contribute their time for free. Well, now that more and more companies are using free time from consumers to determine their future products from potato chips to electronics, it was a matter of time before they were allowed to make key decisions and share in the profits as well.

Some examples (and I'll add to the list over time):

Profit sharing and executive decision-making:

- SellaBand - What makes this one special is that participants can make a return on their investment. Unsigned artists/bands sell 5000 shares at $10 each to 'believers', raising money to record an album and distrubuted for free on the website. Advertising revenues from the Sellaband site are then split evenly between the artists, believers and the site. Believers also get a CD mailed to them. The site has collected $700,000 to date. Read more here.

- VIBE Beta Community - Click on the link for the details. Local residents take part in both profit-sharing and key decision-making in establishing a new triple-bottom-line restaurant in their neighborhood. Watch for this model to be applied to mixed-use buildings.

Executive decision-making:

- My Football Club - 50,000 fans contribute $70/share (and no more) to co-own a professional UK soccer team. The program attracted 22,500 registered users in the first two weeks. One need look no further than the Green Bay Packers to find a similar model, though members will get to vote on strategy and personnel decisions, which may surprisingly help eliminate much of the personal politics that drag sports teams into the gutter for decades.

- A Swarm of Angels - 50,000 (familiar number) movie fans invest $50 each to fund a $2 million movie that they get to co-produce, voting on creative decisions. Consider it a small price to pay for a full internship in movie making.

Images, stories from the innovative folks at Springwise.

Posted by Neil | Link to Article | Comments (0) | TrackBack

May 17, 2007

St. Louis Park downtown, St. Louis

Beatnik-inspired housing: The Jack Kerouac Lofts

What are the words often associated with Beta Generation writer Jack Kerouac? Free spirit, bohemian, unconventional, counter-culture...

It was only natural that he should provide the DNA for the 60 urban residences to rise from a one-acre lot in Denver surrounded by railyards and vacant industrial buildings dating back to the 1880s, now officially named the Jack Kerouac Lofts. Endorsed by the Kerouac family, it's not surprising that the developer is Urban Neighborhoods Inc., founded by longtime visionary developer Dana Crawford, who herself has long invested in the counter-culture. JG Johnson Architects is the architect.

Contrasting with the suburban project profiled yesterday, here are some of the comments from buyers that you can only get from a creative urban destination like this:

"I'm just an old beatnik, so I like it. I like the design, too."

"My [late] husband was a jazz musician and a psychologist, and he would be delighted that I'm living here."

"I waited two years for it. It has a look that will stand the test of time. It's a great place for entertaining, and oh how I love that old rustic building across the street. It'll be terrible if they ever tear that down."

"We have a view of Coors Field on one side and the mountains on the other. It's so romantic at night. There's such an intimacy to it that we enjoy."

"I like the location right downtown without all the craziness."

Posted by Neil | Link to Article | Comments (2) | TrackBack

May 16, 2007

St. Louis Park downtown, Minneapolis

Reinventing the 'burbs, sort of

The civic leaders of St. Louis Park, an inner-ring suburb of Minneapolis, wanted a downtown where there was none. They got one in Excelsior & Grand, a 15-acre pedestrian-oriented mixed-use development adjacent to a major park.

Much of the placemaking is effectively urban, with contemporary urban architecture fronting tree-lined sidewalks, no surface parking, and high-ceiling apartments above restaurants and shops. This is a vast improvement over a strip mall or garden apartment complex. It will beautify St. Louis Park, yes.

However, will it add to the local culture and economy? Not so much. The project has the sterile look of being completed by one developer at one time (which is true), and every single one of the retail venues are chains, which subtracts from the local coffers. That also eliminates much of its potential for civic tourism. Also, its positioning as a luxury residential destination severely limits a creative, enterpreneurial population from adding to its cultural identity. It's essentially designed as a mass-production model that can be replicated and transplanted exactly as is.

It's ability to rise above anything more than a main street mall is thwarted by both its permament and temporary crowds, which is fine because that's all it was intended to be. For the conscious creatives that read this blog, it's a reminder to expect more - a lot more.

You can review the project spec sheet here.

Posted by Neil | Link to Article | Comments (0) | TrackBack

May 15, 2007

William Beaver House, NYC

WSJ - 'Animal House Meets the Empty Nest'

The Wall Street Journal article, Animal House Meets the Empty Nest, sums up the conflict real estate developers are having when trying to cater to the younger urban condo market:

"Get it right, and buyers will pay a premium for the chance to be surrounded by their friends. Get it wrong - too expensive, too many neighbors that are mom and dad's age - and developers can be stuck with a building that doesn't sell."

One community that is suffering from extremes is Viridian, a downtown Nashville project that just opened last October. The empty nester crowd is looking to take over the condo board to shut down the 'animal house' partying by the younger set. One reason it's failing is that it went with the 'anyone who wants to live downtown' approach, attracting people with entirely different opinions on what 'downtown living' meant.

On the other hand, the William Beaver House (pictured - the building has lousy street presence, but that's another story) in NYC, with its R-rated marketing and theater/lounge amenities clearly communicated it was intended for the young socializing crowd, overcoming Viridian's mistake from the beginning. However, few could afford it, thus the developers found themselves needing to attract unintended markets, which will inevitably lead to friction.

The value of the beta community.

Of course, none of these developers listened to what their future tenants actually wanted themselves, which is what the beta community is based on. It also provides an opportunity for the tenants to establish a sense of community and trust - a trial period - before moving in. Few things are more frustrating than not being able to shape your own future.

The WSJ article lists other communities that have a theme from which to base a sense of community on (ie art, the environment, boaters, gays/lesbians, an alma mater), and while it's a step in the right direction, not listening to the tenants beforehand will result in a place that's more reflective of a contrived Disneyland than an authentic community.

Posted by Neil | Link to Article | Comments (0) | TrackBack

May 14, 2007

Affinity Lab, Washington DC

DC mayor proclaims shared workplace with its own day

Can a co-workplace; community and collaboration space for entrepreneurs and independents, be so cool that a mayor of one of the most important cities in the world feels it deserves its own day?

Apparently, yes, for May 10, 2007 is now officially Affinity Lab Day in Washington DC. The official recognition by the Mayor of DC, announced on the sixth anniversary of "The Lab", follows:

Affinity Lab Day

May 10, 2007

A PROCLAMATION BY THE MAYOR OF THE DISTRICT OF COLUMBIA

Affinity Lab Day, Washington DC

WHEREAS, a small group of District of Columbia entrepreneurs gathered in late 2000 to transform a deserted storage space into a collaborative work environment; and

WHEREAS, the founders of Affinity Lab envisioned a facility that would address the basic needs of nascent small businesses; and

WHEREAS, starting in early 2001, Affinity Lab began to draw entrepreneurs who would collaborate on projects and make their own businesses stronger; and

WHEREAS, Affinity Lab has since aided in the successful launch of more than 20 District-based companies; and

WHEREAS, Affinity Lab has helped to attract daytime visitors to Adams Morgan, a neighborhood better known for its nightlife; and

WHEREAS, Affinity Lab has been a leader in sustainable business with its use of recycled products and renewable energy; and

WHEREAS, Affinity Lab for the past six years has advanced the District Government stated goal of attracting and retaining quality local, small and disadvantaged businesses to the District of Columbia:

NOW, THEREFORE, I, THE MAYOR OF THE DISTRICT OF COLUMBIA, do hereby proclaim May 10, 2007, as “AFFINITY LAB DAY” in Washington, DC, and call upon all the residents of this great city to join me in celebrating this local, small business.

Signed,

Adrian M. Fenty
Mayor, District of Columbia

Posted by Neil | Link to Article | Comments (0) | TrackBack