Agile Development : Welcome to Hackerton

There is an open source initiative called Form Follows Finance over at the Incremental Sprawl Repair blog. They came up with a mixed-use building prototype that would be ideal for creating a Startup Village. There is commercial space, live-work space, and apartments. The total mix of units would be guided by the market and determined by the developer. There is flexibility in the form so the size and scale of the building can be adjusted to suit infill applications. When you take a look at the financials, available at ISR, it's possible to get the first building out of the ground quite reasonably.

I took the initial prototype and imagined a SoBe variant designed for a Venture Capital firm. The firm will use the village to provide office space and apartments for the startups they're incubating instead of just providing more cash. This can hopefully further reduce the amount of cash required to get a new company off the ground.

Not only will this help control costs, as rents in startup hubs seem to be recession proof, but should also provide a healthy return on investment if developed properly. Building incrementally also allows the project to be sold-off incrementally, building by building, so the investment firm has a viable exit that avoids the all-or-nothing mistake of the ghost tower developers.

Perhaps the most important benefit, however, is the building of a community of entrepreneurs. Coffee shops, corner stores, and other uses can be accommodated in this unit type which allows for the creation of a true place that serves the needs of the residents. By creating a walkable environment that allows and encourages small businesses to hang out their shingle the opportunity for serendipitous meetings increases exponentially. There can be a free exchange of ideas, a place where founders can meet, and places to relax and decompress.

Many tech companies have adopted a campus model to allow for this type of interaction to take place. In their experience the University was the only place where they found this dynamic to exist and replicated it for their use. Yet another model, one that also has less of an impact on the environment, can be found in places like the Left Bank of Paris, SoHo in London, and the Village in New York. There are countless other examples, but one that most people are aware of is South Beach in lovely Miami, Florida. There is a tremendous amount of amazing funky businesses in close proximity to world class shopping, housing that ranges from small efficiencies to waterfront mansions, and some of the best restaurants in the world. Oh yeah, there are also bountiful nightlife options.

Of course, I remember South Beach as a derelict no-mans-land from back when I was an undergrad. If not for the artists who made their home on Lincoln Road it might very well still be like that today. However, they found cheap space to start their studio in close proximity to housing options they could afford. That's right, South Beach was very affordable back in the early '90's. Many of the residents got around town on their bikes thanks to the compact urbanism in which they lived. This obviated the expense of a car for many. From these not quite humble beginnings South Beach became, well, South Beach. 

Those cities looking to jumpstart such a Creative Class rebirth within their borders would do well to replicate those conditions. The Form Follows Finance unit type developed by the ISR is a great place to start.

Posted via email from Kenneth Hitchens