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In this episode, Scott Graves talks about how investing in creating housing density across a wide a socioeconomic spectrum can build better places.
Even in small communities that have small downtowns, by and large per acre those areas can pay for themselves. In most cases, of course, they're subsidizing all of that suburbia that they're surrounded by.
Scott is the managing partner of EPIC (Exponential Property Investment Co-Op) and founder of SMGraves Associates. They're developing housing solutions keeping Neo-retroism in mind and solving challenges in rural and urban parts of Massachusetts, Maine and Vermont.
Here's a choice quote from our conversation:
One of the consequences of suburbia is that in the middle of the 20th century, as people had the means to do so, they left urban neighborhoods. The people who stayed, by and large, didn't have a choice.
And one of the things that helps build personal wealth is your personal network. If you live in a neighborhood across the street from the president of the local university and two doors down from the local bank president and your mom and dad are deeply rooted in this network of people, someday they are going to help you build your, your personal career and your wealth.
But if you live in a neighborhood where people are just as smart and intelligent but all of those positions don't exist, you're relegating the people there to a lack of the human resources that they need to achieve their own goals.
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