Main Street Development

Values-aligned management of prime downtown real estate is essential to the wealth and wellbeing of the local communities. We see a world where citizens repopulate city centers, attracted by job opportunities, cultural vibrancy, carless commuting, and a more affordable, enjoyable, healthy lifestyle. 

LocalCode invests in cornerstone Main Street redevelopment efforts, primarily within Opportunity Zones. Our model mobilizes strong local and national partnerships to identify and become the development and financing partner of choice for high-potential, underserved sites with an emerging groundswell of community activity. 

LocalCode employs a range of strategies to best engage in mission-aligned Main Street real estate development, as each community is unique with regard to its physical footprint and development challenges. Real estate development, operating agreements, and financing structures support community ownership, and integrate a transparent preset buyout mechanism for the local community to acquire majority ownership over time. Our approach is true to the intent behind the Opportunity Zone legislation, established by Congress in the Tax Cut and Jobs Act of 2017, designating 8,700 Opportunity Zones as economically distressed communities in all 50 states, by integrating principles that enable low investment minimums with equity crowdfunding and healthy investor returns.

In collaboration with the LocalCode Apprenticeship program, an affiliated nonprofit educational institution, a tenant pipeline benefiting from mentorship by successful locally owned businesses feeds the real estate. These strategies reduce risk through engaging, educating, and activating the local community. In so doing, we cultivate economic revitalization and long term stewardship that reduces risk by fulfilling the needs of and becoming a part of local communities. 

Strategic Advantage

LocalCode deploys a strategic advantage vis a vis other development funds - in terms of both positive impact and risk reduction - due to its unique approach to collaborative engagement with local communities.

  • Site selection focused on high potential Main Street areas with an engaged but under-resourced local economic development infrastructure. Invest in multiple properties in chosen communities, resulting in a critical mass of engagement, reducing management costs across the properties and creating a synergistic dynamic improving overall performance.

  • Investment opportunities, property management, and development are locally sourced and managed in collaboration with on-the-ground development partners with significant track record, local expert players, and small business entrepreneurs with an existing strong presence in the community. 

  • Deployment of financing mechanisms that enable community investment, both in terms of the businesses and properties on their Main Street - catalyzing community stewardship and thereby reducing risk.

  • Partnership with LocalCode Academy which provides apprenticeship opportunities with highly successful locally owned businesses transferring their knowledge and resources to emerging social entrepreneurs from within our portfolio communities. 

  • Emerging entrepreneurs and their communities receive support in financing, marketing, and network-wide benefits across the LocalCode ecosystem.

Investment Profile & Growth Strategy

With a strong set of pipeline partnerships in place from both the LocalCode ecosystem and the local/national partnerships, we filter investments based on a rigorous due diligence criteria as well as development plans that fit the story of the LocalCode intention. Some examples for potential sites we would consider include: 

  • Main Street mixed use buildings that are underutilized or in disrepair

  • Master planned residential/multifamily properties with live, work, play concepts

  • Light industrial/warehousing that could be repurposed

  • Historical revitalization of commercial property or factory that once served as city anchor

LocalCode creates an SPV for a portfolio of interrelated properties in each Main Street region, generating economic value across the properties, or invests in single properties that hold particular intrinsic value.

Please let us know if you are interested in collaborating in LocalCode development projects.