Managing risk through community engagement: a case comparison of community engagement processes in Chapel Hill, NC

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Last Modified
  • February 28, 2019
Creator
  • Pearce, Kate
    • Affiliation: College of Arts and Sciences, Department of City and Regional Planning
Abstract
  • Real estate development is a constant game of balancing risk and reward. Developers are continually seeking innovative ways to mitigate risk, reduce uncertainty and, improve returns. Especially during times of economic hardship where markets are tight, capital scarce, and opportunity limited, the developer must make prudent decisions. While the complete elimination of risk is impossible, greater knowledge about a specific project results in less exposure to expensive risk. To aid in this decision making process, developers have at their disposal a cache of tools including sensitivity analyses, environmental impact studies, forecasting models, expertise from lawyers, accountants, and the like. One additional risk management tool is the community engagement process. The community engagement process is simply another form of market analysis that all development projects should incorporate into their development budgets and timelines. The process can help development teams identify potential roadblocks, assist in compliance with regulatory requirements, inform strategic planning decisions and ultimately provide better end-results. In addition, the community engagement process can encourage disparate groups to listen to one another, discuss alternatives and help them reach a common solution (Zykofsky, 2008). It can empower individuals, help create coalitions in support of development and ultimately assist in securing the political will necessary to move a project forward. The following case study offers a critique and comparison of the community engagement process employed during the conceptual planning phases of the redevelopment of two sites in Chapel Hill, North Carolina. The two sites at 123 West Franklin Street and the Glen Lennox neighborhood vary in type and scale of existing use but are similar in that both are highly valued. The degree to which the development teams are able to reduce project risk through community engagement is assessed through an in-depth analysis of multiple factors including the historical condition, existing site constraints, type and number of stakeholders, development process mechanics and the frequency and nature of the public meetings.
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Rights statement
  • In Copyright
Advisor
  • Malizia, Emil E.
Degree
  • Master of City and Regional Planning
Degree granting institution
  • University of North Carolina at Chapel Hill
Language
Location
  • Chapel Hill, North Carolina, United States
  • Glen Lennox, North Carolina, United States
Extent
  • 36 p.
Access right
  • Open access
Date uploaded
  • December 10, 2010

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