Rationale for Convening

The pace of recent investment and economic development in the urban centers of the nation has been nothing short of breath-taking. For the first time in years, jobs and middle-class residents are moving into, rather than out of, the urban centers. For urban communities across the nation, the physical landscape is about to or already is changing.

New investment and growth have the potential to benefit everyone who lives, works and pays taxes there. It can result in more affordable rental and home ownership opportunities, more and better paying jobs, new small business opportunities, and the clean up of environmental hazards. Therefore, attracting investment to facilitate development in urban centers is critically important.

Yet, the benefits have been unrealized for many low-income families already living in these neighborhoods. In fact, development is often displacing long-time residents in many urban neighborhoods. Rising housing costs make it extremely difficult for them to remain. Much of the job growth has been in low-wage industries that do not offer promising opportunities for advancement. The end results of investment and development in many cities are increased wealth and income gaps, decreased affordable housing options and displaced residents, while providing little more than low-wage jobs in return.