Belema Derefaka

Mobilizing Finance Through Anticipating Economic Impact of Urban Infrastructure

 

 

Photo: World Bank

This press release was originally issued by The World Bank.

 

In April 2021, the World Bank engaged HR&A Advisors to support an Advisory Services Activity (ASA) under Terms of Reference (TOR) to produce two case study narrative assessments of completed urban infrastructure projects in identifying how those projects impacted private sector partners and/or economic sectors to inform opportunities for targeting and collaborating with private co-investment and enhancing Program Design for urban infrastructure projects. HR&A’s assessment of impacts includes all direct, indirect, and induced impacts, with a focus primarily on indirect and induced impacts as a means of catalyzing private investment. Indirect or induced impacts are also referred to as positive externalities or ‘multiplier’ impacts. Recommendations in this report focus primarily on indirect or ‘multiplier’ impacts associated with real estate values, development activity, business investment, jobs, and quality of life. Real estate values and other development do not necessarily represent a benefit themselves but are a quantifiable measure of the capitalized impacts of a project. 

 

Click here to read the official PDF report. 

 

Erin Lonoff and Sierra Scott Discuss their Paths from Fellowship to Full Time

 

 

Summer Analyst Fellows turned full time HR&Aers, Principal Erin Lonoff and Analyst Sierra Scott, share insights into their experiences in our Fellowship Program, aligning academic passions with career paths, HR&A’s culture of mentorship, and what they’ve learned along the way.

 

What inspired you all to apply to the HR&A Summer Fellowship program? And how did HR&A stand out?

 

Erin: I was a summer fellow a little over ten years ago. Prior to heading to planning school, the planning world itself was unfamiliar territory for me. When I stumbled upon the Fellowship at Summer at HR&A in a job posting, it stood out as the singular internship opportunity that resonated deeply with my passion for quantifying and advocating for public policies. I recognized that while I might not have initially seen myself deeply involved in real estate, my true passion was utilizing data to articulate infrastructure investments and policies that benefit society and the environment. HR&A’s Summer Fellowship Program was the sole internship opportunity I found that explicitly highlighted a focus on using data to advocate for public policy.

 

Sierra: Towards the end of my time in graduate school, I was still uncertain of whether I wanted to work in the public or private sector. Throughout my academic journey, I’d worked at a state government agency and took on a few contracted policy research gigs, yet my definitive post grad direction remained unclear.

 

It was a former classmate turned colleague, Miriam Dominguez, who introduced me to HR&A. Her experience as a fellow in 2022 intrigued me, prompting a deeper dive into HR&A’s portfolio. What I found resonated deeply — it epitomized the aspirations I held while pursuing my graduate studies, aligning perfectly with what I like to call a “planner’s dream”.

 

 

Despite receiving an opportunity for a two-year policy fellowship, HR&A was the place I wanted to be. It offered an exciting blend of public and private sector exposure and the opportunity to fulfill my professional aspirations. Today, I find myself precisely where I am meant to be, nurturing my career in alignment with my ambitions.

 

 

After your fellowships, you both stuck around. Why? What made you decide to join HR&A full time?

 

Sierra: I consider myself a generalist, which is something you’ll hear from many of us at HR&A. When we form our project teams, we bring together versatile professionals to do work that interweaves public policy and economic development, or housing and public transit planning. As Erin pointed out, our projects encompass diverse components. What truly stood out for me was the exposure I gained. It wasn’t just about isolated industries or sectors; it was about understanding their interrelationships.

 

The chance to figure out how to implement affordable housing initiatives alongside Transit-Oriented Development (TOD) work was compelling. It offered a holistic view, allowing me to appreciate how these elements aren’t standalone entities but pieces of a larger, interconnected puzzle. HR&A is a space where the work isn’t confined to just one thing. It thrives on the synergy between various sectors.

 

Erin: Honestly, I didn’t plan on joining the company after my internship, but within days of stepping into the Fellowship, I changed my mind. I fell in love with the job, this company, and New York. That first day, I joined three different projects that were all kicking off at the same time. I loved the pace, the energy, and most importantly, the alignment of excitement among my colleagues. Ten years down the road, I’m still at HR&A, and I’m so happy I made the choice to build a career here.

 

How do you feel the summer fellowship set you up for transitioning into full time work in this industry?

 

 

Erin: Reflecting on my summer fellowship at HR&A, one invaluable takeaway was a holistic understanding of how all these pieces come together in this industry. This insight influenced and shaped my coursework during my final year of planning school. I shifted my focus, veering towards economics, real estate, and data analytics courses to expand my technical knowledge base.

 

My summer fellowship experience closely mirrors our current Summer Fellowship program’s Track One option, allowing me to complete the Fellowship and return to school before coming back Full Time after graduating.

 

Sierra: My summer fellowship allowed me to gain experience with technical competencies, while also honing soft skills. Technically, my time at HR&A provided invaluable exposure to various templates and models that hadn’t crossed my path during grad school. Looking back, if I had the chance to lean towards altering certain courses for that crucial exposure, I would.

 

Pertaining to soft skills, I had always prided myself on time management, navigating multiple jobs alongside a heavy academic load throughout undergrad and grad school. However, transitioning to the corporate world demanded a heightened level of efficiency. It pushed me to elevate my time management skills not just for meeting deadlines, but also making time for self-care. Within this growth, an unexpected skill surfaced: advocating for myself to make sure my project workload was balanced.

 

Luckily, HR&A offers an abundance of resources and a collective willingness to help me adjust to the pace of corporate life. The team’s readiness to extend support, allocating time to ensure understanding and setting up for success, was really essential in my professional development.

 

What role did mentorship play in your fellowship experience?

 

Sierra: I’m based out of one of the smaller offices (Atlanta), but the sense of mentorship extended far and wide. It felt like every individual took on an unofficial mentorship role, generously offering guidance and sharing their experiences and career trajectories, which have helped shape my own path. Surprisingly, what I initially thought might not interest me, like Transit-Oriented Development (TOD) work, has now become my favorite practice area — all thanks to insightful conversations with mentors like Christina De Guilio.

 

In addition to these informal mentors, the Summer Fellow Mentorship Program was invaluable. My mentor, Rachel Waldman’s flexibility, advocacy, and consistent support were instrumental in my growth. Additionally, the accessibility of partners within the firm for mentorship was remarkable. Despite their busy schedules, they graciously spared time for mentoring sessions, reflecting their genuine commitment to nurturing talent. Joining the workforce can be intimidating! And, when I started, I didn’t always feel comfortable sharing my ideas. But that dynamic changed quickly, especially when working closely with partners who were not only willing to listen to what I had to say but encouraged me to further expand on my ideas.

 

Erin: Before joining HR&A, I worked in other industries that could feel very hierarchical, where entry-level individuals rarely interacted with senior figures without a compelling reason. However, in just a few weeks, HR&A shattered my previous assumptions. I found a news article relevant to our project and shared it with my project manager. Their response surprised me: they encouraged me to send it directly to Candace Damon, the Partner leading the project. This seemingly simple gesture was eye-opening. It signified a culture where partners were invested in everyone’s success, regardless of tenure, and everyone’s ideas matter. It was a pivotal moment that reshaped my understanding of workplace dynamics and organizational culture.

 

The impact of these individuals extended beyond my summer experience. Kate Coburn, for example, helped me secure a scholarship when I returned to school .

 

Now, as a Principal at HR&A, it’s incredible to have built my career alongside these familiar faces who mentored me when I was a Fellow ten years ago, who are now my colleagues and friends. Their commitment to my professional growth sparked my own passion for mentorship, and I love “paying it forward” by mentoring staff and our new classes of Summer Fellows.

Connie Chung joins MICD’s 78th National Session in Boston for Visionary Urban Leadership

 

 

The 78th National Session of the Mayors’ Institute on City Design (MICD) recently convened in Boston, MA, under the leadership of Mayor Michelle Wu. Seven mayors and a team of experts — including HR&A’s Connie Chung —gathered to tackle pressing urban challenges and exchanged insights on design and development. The session equipped these leaders with strategies for equitable revitalization, community engagement, and fostering vibrant public spaces.  

 

We were inspired by each of these mayors’ commitments to centering equity in their work, uplifting local culture, and engaging the community in the design process for public spaces. Their efforts are essential for building more resilient, inclusive futures for their constituents. 

 

Moreover, the insights from the session underscore the critical importance of connecting implementation to visioning. These urban leaders understand that the work is not just about envisioning positive change; it’s about ensuring a viable path toward making that vision a lived reality. How you design the steps along the way matters.   

 

As our company leaders continue contributing to these impactful discussions and initiatives, it’s clear that there’s significant work ahead, but there’s also great leadership ready to roll up their sleeves and tackle challenges head on.  

 

Related Articles 

Inergency “Boston, MA Mayor Michelle Wu Welcomes The Mayors’ Institute On City Design For Its 78th National Session – Mayors’ Institute On City Design” 

Beyond the LIHTC: Unveiling a Holistic Approach to Addressing the Nation’s Housing Puzzle

 

 

While the federal and state Low-Income Housing Tax Credit (LIHTC) Program has created over 3 million homes since its creation in 1986, and is one of our most powerful tools in addressing our nation’s housing crisis, even the LIHTC isn’t a silver bullet for solving the housing puzzle. HR&A Principal, Callahan Seltzer recently shared her thoughts in this Shelterforce article alongside other national housing experts on some of the unintended consequences of the program and what other tools we need in our ‘housing strategy toolkits’ to provide housing options tailored to community needs.  

  

The LIHTC offers State and local agencies around $9 billion a year in tax credits for the acquisition, rehabilitation, or new construction of rental affordable housing, but the financial infrastructure required to receive these credits often only pencils out for larger-scale affordable housing projects of 100 units or more. “It is really tough to do projects less than 100 units,” Callahan Seltzer shares, “It’s tough for those to even score well [on applications to the state to receive tax credits]. Oftentimes, syndicators, and then, de facto, the investors, aren’t as interested.” Yet, 20- or 30-unit buildings are often what are needed, especially in rural areas. 

  

Callahan also shared an anecdote from an project in Denver, Colorado, which was originally envisioned as a 40- to 60-unit development but was reimagined into a 125- to 160-unit development to secure LIHTC funding. 

  

HR&A is working with visionary clients who want to build new, innovative strategies in addition to the LIHTC, such as the Federal Home Loan Bank of Boston, Southern California Association of Governments, and the Housing Equity Fund, to name a few. Together, we’re exploring a range of options in addition to the LIHTC program that will streamline the production of desperately needed housing for communities around the country. We see this work as essential in the housing industry’s evolution. 

  

Click here to read the full Shelterforce article. 

Empowering Municipal Excellence: League of Cities of Puerto Rico (La Liga) Launches the Municipal Innovation Laboratory for Transformative Local Governance

 

 

League of Cities of Puerto Rico, also known as La Liga, a non-partisan organization focused on working with local governments to improve the lives of their constituents, is partnering with PolicyLink with support from the Magic Cabinet and Ford Foundation to unveil ‘The Municipal Innovation Laboratory.’  HR&A Advisors has been proud to support La Liga in creating and launching this powerhouse resource center fostering advocacy and bolstering municipal capacity across Puerto Rico.

 

Last week, the La Liga proudly introduced the Municipal Innovation Laboratory as a new program focused on building capacity within municipal governments via a robust curriculum of strategic consulting, community-focused planning, technical assistance, and specialized workshops. With a focus on inclusivity and equity, La Liga prioritized non-metropolitan communities and is working with the towns of Aguada, Barceloneta, Gurabo, Hormigueros, and Florida as the first cohort of municipalities to benefit from this meticulously crafted initiative. Over a year in development, this laboratory represents a pivotal part of the La Liga’s municipal agenda.

 

This launch is a model for what is possible when public, private, and philanthropic organizations come together to tackle complex challenges facing communities outside of metropolitan centers. Substantial contributions from Policy Link and Magic Cabinet, totaling $1.8 million each over four years, as well as forthcoming contributions from the Ford Foundation, have been instrumental in launching the Innovation Laboratory to help create sustainable change in the region.

 

As part of the year-long Innovation Laboratory program, La Liga will work with each municipality to: a) Conduct an assessment to identify opportunities and gaps, b) Identify specific technical assistance needs, c) Develop a tailored, comprehensive curriculum to promote equity-driven community power, transparency, fiscal responsibility, and economic well-being, d) Co-create an action plan, which will include a dynamic, customized framework defining not only what “success” looks like for each community but also establishing milestones to measure progress along the way. Following this curriculum, La Constructora, the next step in La Liga’s support, will assist municipalities in identifying a specific quick win or project to translate this work into tangible impact for the municipality’s residents. This involves identifying federal funds, co-creating proposals, and further supporting the implementation of the chosen initiatives.

 

This initiative comes at a crucial time, offering a lifeline to municipalities grappling with fiscal challenges, the devastating impacts of climate change, and more. The mayors emphasize the invaluable support La Liga will provide amidst critical cuts in the Municipal Equalization Fund. For the mayors and municipal leaders involved, commitment and willpower are the key criteria for participation. La Liga envisions these five mayors as catalysts for wider participation, inviting other leaders to partake in this transformative initiative.

 

While the towns of Aguada, Barceloneta, Gurabo, Hormigueros, and Florida lead the charge, La Liga will be extending its services to other municipalities seeking assistance through El Instituto de Capacitación Municipal (ICAMU): an academy for all municipalities to access resources and benefit from learning exchange opportunities.

 

The Municipal Innovation Laboratory isn’t just about reengineering processes; it’s a testament to collective action, resilience, and a commitment to building stronger, more effective local governments. HR&A Advisors looks forward to continuing supporting this work empowering communities and fostering a brighter future for Puerto Rico!

 

Related Articles:

La Liga’s Official press release

 

 

HR&A Advisors Supports Amazon’s Housing Equity Fund to Underwrite a $22.5M transaction for 80 Affordable Homes at Howard University

 

HR&A Advisors is pleased to announce the closing of $22.5 million in acquisition financing through the Amazon Housing Equity Fund (HEF) for the creation of 80 affordable homes at Howard Manor. Howard Manor is a historic building located on Howard University’s campus in Washington, DC. Howard University, in partnership with Provident Resources Group Inc. (PRG), is acquiring the building and, with the support of the Amazon Housing Equity Fund, converting the entire residential portion to affordable housing. 

 

HR&A worked with Amazon, Howard University, and PRG to underwrite and close the transaction on behalf of the Amazon HEF. 100% of the homes will be affordable to households making 60% of area median income and will remain affordable, through rent restrictions, for 99 years. This project is part of a larger commitment from Howard University in 2017 to utilize best efforts to create 50 – 100 affordable units near its main campus. Howard Manor will immediately fulfill the University’s 2017 commitment at closing.

Rendering: Urban Investment Partners 

 

The Amazon Housing Equity Fund is providing more than $2 billion to preserve and create over 20,000 affordable homes in Amazon’s home communities of Washington State’s Puget Sound region; the Washington, DC area/Arlington, VA; and Nashville, TN. Since its launch in 2021, the Amazon Housing Equity Fund has committed more than $1.8 billion to create or preserve more than 14,400 affordable homes for renters across the company’s hometown communities, including more than $1 billion to create or preserve more than 7,500 affordable homes for renters and homeowners in the Washington DC, Maryland, and Virginia region. 

 

HR&A works with Amazon as a credit underwriter for transactions in the Washington DC Metro Area and Nashville. 

 

 

HR&A Summer Internship Program

HR&A is proud to be an employee-owned, mission-driven company committed to building a robust workforce with the brightest minds in our industry. Our people are dedicated to delivering on our mission to create vital places, build equitable and resilient communities, and improve people’s lives. Our Summer Analyst Internship Program offers students and early professionals an opportunity to turn their passion for urban development and policy into action.  Interns earn invaluable real-world experience working alongside industry leaders who are tackling the complex challenges facing cities and communities across the globe.  

  

As a company that believes great ideas emerge from bringing different voices and perspectives to the table, our Summer Analyst Interns are invaluable members of our teams, offering fresh ideas and asking questions that help us re-examine the status quo. Interns work on a wide range of project responsibilities including preparing written reports, presentations, Excel models for clients, firm marketing materials, and proposals for new projects. Many current members of HR&A’s team started as Summer Analyst Interns. 

 

 

HR&A Spotlight on our People: Academic Engagement

HR&A Advisors is consistently inspired by our employees’ passion and dedication to supporting cities and communities around the globe. Congratulations to Research Analyst, Nisha Singh for showcasing her thesis in Istanbul at the “The Urban and Local Dimensions of Political Violence in Syria and the Middle East” conference hosted by the Syrian Urban Research Project.

 

Her thesis “Planning Equitable Cities for the 21st Century: A Multi-Scalar Analysis of Urban Refugee Integration in Beirut and Istanbul identifies potential solutions for compassionate, intercultural city planning by looking at other non-European cities and advocates for a mobility-centered approach to refugee policy.  

 

 

Abstract:

 

According to the Center for Global Development, over 60 percent of the world’s 26.4 million refugees and around half of the world’s 48 million internally displaced persons (IDPs) live in urban areas, mostly in low and middle-income countries. This thesis explores how modern refugee policy, which is primarily developed at the international and nation-state levels, influences how both refugees and residents navigate urban environments in host countries. The case studies examined in this thesis are Beirut, Lebanon and Istanbul, Turkey. Both cities are sites of ancient civilization, former Ottoman metropolises, and have found themselves front and center of tremendous waves of regional displacement in the modern era. This thesis ultimately identifies a severe sedentarist bias in refugee policy which translates to rigid municipal policy ill-adapted to the true nature of displacement. This thesis identifies potential solutions for compassionate, intercultural city planning by looking at other non-European cities and advocates for a mobility-centered approach to refugee policy. 

 

Read Nisha’s full thesis here.  

MDOT awards two contracts to study possible Light Rail, Metro, MARC Penn Line expansions

This press release was originally issued by NottinghamMD.

 

HANOVER, MD—The Maryland Department of Transportation on Thursday announced that two contracts have been awarded to study potential transit-oriented development sites at light rail and subway stations in the Baltimore region and at MARC Penn Line stations in the Baltimore-Washington corridor.

 

The contracts were awarded by the department’s partner, Maryland Economic Development Corporation, and officials say they are an important step in the state’s commitment to a bold new approach to create vibrant, diverse transit hubs.

 

“Governor Moore has entrusted us to create a world-class transportation network that’s accessible, sustainable and equitable for all Marylanders, and connect all modes through transit centers that rejuvenate and celebrate our neighborhoods and communities,” said Maryland Transportation Secretary Paul J. Wiedefeld. “These studies put that mission in motion.”

 

The two study contracts were awarded in recent weeks to the international research and consulting firm HR&A Advisors Inc., which has served as a consultant and master plan developer for projects in New York, N.Y.; Washington D.C., Los Angeles, Calif.; Research Triangle, N.C., Houston, Texas; and dozens of other communities in the United States and abroad.

 

“HR&A is thrilled to have the opportunity to work closely with MDOT and MEDCO to advance transit-oriented development in the State of Maryland,” said Stan Wall, Managing Partner at HR&A Advisors Inc. “Catalyzing the real estate market around MARC and MTA stations leverages the state’s existing infrastructure, increases access to opportunity, and fosters equitable and sustainable economic development. This strategic approach to TOD will create a lasting positive impact for the existing and future residents and business of Maryland.”

 

The Baltimore Region Study will examine the Maryland Transit Administration’s Light Rail and Metro Subway stations in the Baltimore region to identify sites with strong market potential for transit-oriented development that can provide new transit access and economic opportunity for communities. The study will evaluate the overall market for transit-oriented in the Baltimore region, identify challenges, opportunities and tools needed to incentivize impactful transit-oriented development; and engage with communities and potential private, institutional and nonprofit partners.

 

The Penn Line Study will initially look at MARC stations along the Baltimore-Washington corridor – Seabrook, Bowie State, Odenton, Baltimore/Washington International Thurgood Marshall Airport, Halethorpe and West Baltimore – and examine market potential, infrastructure, investment needs, benefits and financing. A second phase will study stations north of Baltimore including Martin State Airport, Edgewood, Aberdeen, and Perryville. Both phases will consider the impact of MARC service expansion. Cross-state service into Delaware and Virginia is anticipated based on Maryland’s recent framework agreements with both states to advance discussions and explore pilot service opportunities.

 

The contract awards stem from two requests for proposals announced in August by the Maryland Department of Transportation and the Maryland Economic Development Corporation. Both studies will identify sites poised to become transit centers now, and also determine needs at other sites that could be addressed to make them strong candidates in the future.

 

Both studies will be conducted in the coming months. These efforts will analyze feasibility and overall goals for stations which will then lead to master developer partnerships and a full community engagement process.

 

“We value this opportunity to pursue Governor Moore’s vision and partner with the Maryland Department of Transportation to deliver transit-oriented development solutions that improve access to opportunity and enhances the lives of all Marylanders,” MEDCO Executive Director Tom Sadowski said.

 

Related articles:

Transit Briefs: AmeriStarRail, CTA, MBTA, Gateway Development Commission, MDOT, SEPTA, CHSRA (Railway Age)

 

HR&A at Urban Tech Summit 

 

HR&A is excited to engage with entrepreneurs, policymakers, industry leaders, and public sector officials to delve into how cities worldwide are advancing decarbonization at the 2023 Urban Tech Summit. This two-day event at Cornell Tech’s campus in NYC will address technology, finance, and workforce trends shaping urban decarbonization prospects, fostering knowledge exchange through panels, keynote speeches, fireside discussions, and interactive workshops. The Urban Tech Summit serves as a comprehensive learning platform with the goal of igniting innovative solutions. 

 

 

Be sure to catch HR&A Leaders at these speaking engagements: 

 

November 14, 10:20 AM | HR&A Advisors Partner Jonathan Meyers will be a panelist on the Decarbonizing Building: Beyond Local Law 97 panel. Panelists will discuss the leading solutions for energy, efficiency, electrification, and carbon capture. 

 

November 15, 2:15 PM | HR&A Advisors Director Giacomo Bagarella will facilitate the Climate Innovation Workshop: The Future Workforce: From fear of AI to fear of missing out.  

 

November 15, 3:35 PM | HR&A Advisors Partner Kate Wittels will be the moderator for the Innovative Funding Approaches for Climate Tech panel. As the climate tech market grows more established, it’s essential to consider the future trajectory of the venture capital market for climate tech over the next decade and understand the various mechanisms that support innovation in this field. 

 

Register now to join us!