IDEAS home Printed from
   My bibliography  Save this paper

The role of community partners in urban investments


  • Anna Steiger
  • Tessa Hebb
  • Lisa A. Hagerman


Institutional investors seeking to deploy capital to underserved areas do not have either the time or the expertise to actively manage these specialized investments. Investment vehicles intervene by using their financial expertise to pool assets and lower transaction costs. Community partners, in turn, link the investment vehicle to the neighborhood. This paper develops a typology of community partners and their unique characteristics that enable them to overcome information asymmetries in certain markets. The paper also discusses the business models that establish the relationship between the investment vehicle and community partner to highlight strengths of the different models for delivering community transformation.

Suggested Citation

  • Anna Steiger & Tessa Hebb & Lisa A. Hagerman, 2008. "The role of community partners in urban investments," Public and Community Affairs Discussion Papers 2008-02, Federal Reserve Bank of Boston.
  • Handle: RePEc:fip:fedbpc:2008-02

    Download full text from publisher

    File URL:
    Download Restriction: no

    References listed on IDEAS

    1. G L Clark, 1994. "Strategy and Structure: Corporate Restructuring and the Scope and Characteristics of Sunk Costs," Environment and Planning A, , vol. 26(1), pages 9-32, January.
    2. Clark, Gordon L. & Caerlewy-Smith, Emiko & Marshall, John C., 2006. "Pension fund trustee competence: decision making in problems relevant to investment practice," Journal of Pension Economics and Finance, Cambridge University Press, vol. 5(01), pages 91-110, March.
    3. Anna Steiger & Tessa Hebb & Lisa A. Hagerman, 2007. "The case for the community partner in economic development," Public and Community Affairs Discussion Papers 2007-5, Federal Reserve Bank of Boston.
    4. Joseph Gyourko & Witold Rybczynski, "undated". "Financing New Urbanism," Zell/Lurie Center Working Papers 369, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania.
    5. Robison, Lindon J. & Siles, Marcelo E. & Schmid, A. Allan, 2002. "Social Capital And Poverty Reduction: Toward A Mature Paradigm," Agricultural Economic Report Series 10941, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    6. George A. Akerlof, 1970. "The Market for "Lemons": Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, Oxford University Press, vol. 84(3), pages 488-500.
    7. Michael Spence, 1973. "Job Market Signaling," The Quarterly Journal of Economics, Oxford University Press, vol. 87(3), pages 355-374.
    Full references (including those not matched with items on IDEAS)

    More about this item


    Community development;


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedbpc:2008-02. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Catherine Spozio). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.