Some of you may have heard of the phrase, “Triple Bottom Line”. Here’s Wikipedia’s explanation:
“The triple bottom line (or otherwise noted as TBL or 3BL) is an accounting framework with three parts: social, environmental (or ecological) and financial. Some organizations have adopted the TBL framework to evaluate their performance in a broader perspective to create greater business value. Business writer John Elkington claims to have coined the phrase in 1994.”
We really like this idea, but as with many savvy business concepts, it gets marketed the hell out of and eventually loses its effect and appeal, and then becomes unfashionable.
However, this is one we believe should stick around for any business that’s in it for the long haul. It can’t be just about the bottom line anymore. The TBL has to be the bottom line.
Our mandate with infill developments is to adhere to this principle, and here’s our explanation on how we can achieve TBL.
1. People
The density created from infill developments enhances community building. This encourages local businesses
and services to thrive from the greater population density, allowing people to walk to many daily amenities.
This in turn creates a desirable neighborhood that further encourages walking, better public transit and
ultimately increase social cohesion and better health. People living in these communities have less need to
drive and are generally healthier and happier.
2. Planet
Infill developments take a fraction of the resources needed to build a new home, compared with a new home in
a new subdivision. There are no new and expensive roads, sewer systems and utilities to construct and
maintain indefinitely. Additionally, homeowners will be able to reduce their travel time and transportation
resources for homes that are already in existing neighborhoods, benefiting the environment even more.
3. Profit
Last but not least is profit. Infill developments help local governments generate greater revenue from
development charges, permit fees, and ultimately tax revenues, all while reducing their burden from urban
sprawl. Despite this, you can still profit well. The reason is because with infill developments, you can essentially
take an existing lot, apply strategic analysis, planning, and execute to create a new parcel of land to build on.
This is typically at a lower cost than buying empty lots on the market.
What we’re looking to do is create a winning outcome for all stakeholders, including homeowners, landlords, tenants, community members, and the local municipality. And it’s clear to us that infill development is part of the solution.
We hope you will join us!