REVA DEVELOPMENT CORPORATION
In support of artist, families, and small business, REVA incorporates a comprehensive approach to housing and economic development within neighborhood revitalization programs.
A different kind of Community Real Estate Development firm.
Our Mission is to advance the development and preservation of affordable spaces for artists, families and small business.
REVA Mission Statement
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REVA Development Corporation
In support of small business and low-to-moderate income families, REVA seeks to take on a comprehensive approach to affordable housing and economic development with an emphasis on artist-based neighborhood revitalization. Finding and retaining affordable live/work space is an age-old problem for artists (painters, sculptors, dancers, musicians, etc.) who require well-lit, healthy, and safe surroundings in which to work. They are often attracted to discarded, but unique housing structures, old warehouses, and industrial buildings. However, soon after establishing themselves in these neighborhoods their presence becomes a catalyst for redevelopment; setting into motion a process of gentrification that drives rents and land prices up, forcing artists and families out. When housing and economic development is done correctly, neighborhood revitalization efforts that build on its local cultural assets can encourage diverse participation, promote consumption of local arts activities, which in turn supports businesses and jobs creation, and maintains affordability for artist and families. Therein lies an opportunity for an experienced and insightful community development team to support smart, organic, and proven sustainable neighborhood revitalization.
Our unique focus on arts-based development can be in support of existing activities, or an agent for holistic community growth; promoting professional development of local artists, the vitality of small businesses, and a higher quality of life through housing, safety, and education. We are most often attracted to high-density mixed-use urban and cultural arts districts, which is a highly specialized niche in the real estate development industry. In addition to our roles as developer, owner, and manager, REVA can also serve as a consultant to a myriad of private and community-based organizations seeking a resourceful development team for developing housing, work space for artists, performance centers, and cultural arts districts.
"Creativity is piercing the mundane to find the marvelous"
Bill Moyers
Rise of the Creative Class
The celebrated economist and author Richard Florida has turned a simple idea into an empire. The simple idea is that people, particularly those with interesting jobs and skills, like to live and work in creative places and that cities ought to promote culture and creativity as a means of recruiting companies that employee these desirable people and thus drive economic development. Cities all over North America are now pursuing economic development goals by promoting the presence of arts and culture and the people that like those things. When a community is perceived as "creative", it also attracts the kind of people who create new businesses and jobs within the community.
It’s Bigger than Affordable Housing
Ultimately, in terms of neighborhood revitalization, affordable housing is just one piece of the puzzle. One that we strongly believe requires greater consideration in how we, as development partners, collectively can play a role. Please be sure to visit the links provided below.
According to the organization Americans for the Arts in their Arts & Economic Prosperity IV, Economic Impact of the Nonprofit Arts & Culture Industry, every day more than 100,000 arts and culture organizations act as economic drivers - creating an industry that supports jobs, generates government revenue and is the cornerstone of our tourism industry. This study, and hundreds more document the key role played by the arts and culture industry, and their audiences, in strengthening our nation’s economy. Additional data was offered by Richard Florida; founder of the Creative Class Group, co-founder of CityLab, a senior editor at The Atlantic, and a professor of global research at New York University. Florida is also author of The Rise of the Creative Class, “Who's Your City?”, and “The Great Reset”. We have regularly sought the advice of Richard Florida in the work we do and quote him often in discussions surrounding community and economic development.
Here are some links to articles authored by Florida that may help; Why Cities Can't Afford to Lose Their Artists, How the Arts Add to Urban Economies, and the link to his article Arts & the Economy - How the Arts Add to Urban Economies. Let there be no doubt regarding available data supporting the fact that once Art is inserted into communities, it consistently delivers tremendous dividends in growing or restoring economic vitality.
The goal is to make local, state, and federal agencies aware of opportunities to not only fund affordable housing, but, to provide indirect support of economic growth in the underinvested communities we serve. And when necessary, the agencies must modify rules to be accommodating to such opportunities.
In conclusion, when redevelopment is done comprehensively, neighborhood revitalization efforts that build on its local cultural assets can encourage diverse participation, promote consumption of local arts activities, and preserve long-term affordability. Which in turn supports businesses and jobs creation, and maintains affordability for artist, families, and small business.