When Your Development Project Is Met With Public Disapproval

​As a real estate investor you may have the best intentions in your heart when you take on a new project, but chances are there may be adverse affects that your project may have on a community and it’s people.  Are you aware of them?

We just purchased a dilapidated apartment building which was fully occupied with long term tenants.  When I acquired the building I figured, “ah these folks will be happy to leave.  These unsanitary and unsafe conditions are putting them in harms way.”

I was wrong in my assumptions.  In fact, the tenants formed a tenant union to act as a united voice to stop the vacation of this building.  I met with them this week to negotiate a solution that would be less painful than what I originally sought out to do.

Your actions have consequences.  And sometimes they can have a mix of good and bad affects.  You must balance the interests of your business and the interest of your conscience; create solutions that minimize the adverse affects you can have on your community!