10/12/21 Washington, DC Mastermind Meeting

Washington DC October 2021 Key Take Aways

• Stuart Brodsky with NYU Schack Institute of Real Estate Provided and overview of ESG.
  • ESG is a growing field and something companies are paying more attention to as a way to appeal to shareholders and consumers.  It includes issues in the areas of Environmental, Social and Governance and companies are looking for guidance on how to identify both opportunities and risks in these areas.
  • There is a robust history of companies paying attention to ESG-type issues, including shareholders and consumers protesting against companies profiting from apartheid, companies like Walmart funding the education of employees, and HP working toward both gender parity and environmental sustainability.
  • The environmental piece of ESGs is one of the largest factors affecting real estate.  LEED rating system covers many of the same environmental concerns.
  • The United Nations created 17 sustainable development goals, including ways to reduce poverty and social inequity, encourage responsible consumption, and protect the environment.
  • ESG assets are expected to grow in the coming years as these issues become more important to investors.
  • ESG is still a new field and they’re still in the early stages of defining and quantifying metrics.
  • Property Assessed Clean Energy Programs offer options for affordable and creative ways for companies to make investments into energy efficiency and renewable energy improvements.
• McMillan park has been approved by the courts to move forward in development. Exact plans for what exactly are unknown yet.  However, there are protests as well as counter protest for the use and development of the land. Demolition of site has begun. (Andrew Cooper)
• Derek Ford with the Washington DC Economic Development Partnership shared the following:
  • The Hill East Project will fall into the Election cycle of the city, it may/will become political.
  • There are two residential bundles planned for the area for 1000 units each.
  • The request for daycares has increased. This is becoming a part of the discussion around resident retention for the city.  There are current investigations for identifying daycare providers, locating them in the city so they can sustain business.
  • Washington D.C. Economic Partnership will be at the ICSC  in Las Vegas December 5-6^th in the West Hall.
  • Starting in January, they will be starting car tours again.