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.
“Identity is cause;
PRODUCTS is effect.”
Larry Ackerman
Creative Space Development
In support of small business and underinvested communities, REVA seeks to take on a comprehensive approach in housing and economic development with an emphasis on artisan-based neighborhood revitalization. When housing and economic development are 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 retain artists and family affordability. Projects can be composed the adaptive reuse of older buildings, and can also involve ground up construction. In those communities, REVA will typically seek to develop a mix of housing as live/work units within the urban core, or pure retail, commercial, and/or performance space for the benefit of the economic vitality of partner organizations or within an existing community redevelopment area.
Consultancy
As Development Consultant, MFK|REVA will provide assistance to the owner/developer throughout the development process. This could include, but is not limited to the following: identifying funding sources, giving input on the concept and design, site analysis and selection, reviewing real estate contracts, marketing analysis, reviewing cost analysis and proforma, reviewing contractor’s bids, assisting in entitlement/permitting, and reviewing the marketing/leasing plan.
PRODUCTS
“However beautiful the strategy,
you should occasionally
look at the results.”
Winston Churchill
Developer
We achieve our Mission by providing capable support in real estate development, asset management, consulting, and community building programs. Our experienced team identifies financing opportunities and coordinates the rehabilitation or new construction of projects in targeted communities.
REVA coordinates a balanced combination of residents, local government, A&E professionals, and academic institutions to identify a comprehensive approach for neighborhood/community revitalization. As an Owner’s Representative, REVA will take on all responsibilities of the owner in the development process. In this capacity, we will act on the owner’s behalf, while maintaining ongoing communication and reporting to apprise the owner of the project’s status. We assemble and direct staff and the project team, including the architect, contractor, engineers, and other necessary professional services, and carefully define each team member’s role to assure that his/her expertise is most effectively utilized. This project team will carry out conceptualization, planning, and designing the project to meet the market, obtaining all entitlements for the project, building public and governmental support of the project, attracting interest in the project from prospective tenants and/or purchasers, identifying debt financing and/or equity for the project as required, and preparing the project for construction.
Public Private Partnerships
REVA has played a vital role in identifying innovative solutions for effective community redevelopment. The work we seek to perform is typically in line with a comprehensive framework established and prioritized in any given community, and further build on the knowledge of all relevant stakeholders. As often reported in unserved neighborhoods, the gap in funding available for community and economic development projects is enormous. It’s a gap that can be filled only by bringing together capital and know-how from the public and private sectors. Public-private partnerships, or PPPs, can be a major force in revitalizing redevelopment areas in affordable ways—and in improving the quality of life in these same communities. We seek relationships with like-minded corporate and philanthropic institutions, as well as local, state and federal agencies in support of a common goal; removal of slum and blight to achieve healthy, safe and sustainable neighborhood revitalization.
We also believe Smart Growth concepts and principles can provide a clear roadmap for guiding community redevelopment programs to ensure practical and effective decision making in the creation of healthy neighborhoods.