Lynn: Making An Impact

Jerry Hildebrand, director of Lynn’s Social Impact Lab, is a legend in the field.

Regular readers of this blog know that I have been a longtime fan of Lynn University and its visionary President Dr. Kevin Ross.

Last week, reminded me why.

Not a day goes by that we don’t see an article questioning the future of higher education. Colleges and universities are being disrupted, their business models challenged and now even admissions processes are being questioned in the wake of a recent national scandal.

But at Lynn University, we are witnessing a school that is pivoting with the times, riding the wave of change adeptly and becoming more relevant with every passing year.

Last week, I had the privilege of moderating a session at Lynn University’s first ever “Business for Good” conference hosted by Lynn’s new Social Impact Lab. I’m honored to be on the founding board of the lab which is run by a legend in the field: Jerry Hildebrand.

The conference brought together social entrepreneurs, business leaders, non-profit executives, students and investors anxious to learn how they can make a positive difference in the world.

As one of the keynote speakers Ron Cordes of the Cordes Foundation noted: it’s possible to invest capital and make a difference while making a profit too.

That’s a simple concept but a game changing shift in mindset.

I moderated a panel featuring two women who are reshaping the field of impact investing.

Kristin Fafard of Community Capital Management is the chief investment officer for a $2 billion plus fund that invests in affordable housing, clean water and other projects that provide both a return on capital and social impact. In fact, investors in her funds receive two reports—one chronicling financial performance and the other detailing the difference the fund’s capital is making in the community.

Community Capital is headquartered in Fort Lauderdale but has offices in the south and northeast. Since its inception 20 years ago, the firm has invested over $9 billion in impact initiatives nationwide.

From creating affordable housing to restoring the Everglades, Community Capital Management is in the vanguard of impact investing, a growing field.

Joining Kristin on the panel was a talented social entrepreneur named Lauren Harper, the founding director of Social Ventures Partners Miami, which is part of a philanthropic network with more than 39 affiliates in 9 countries and over 3,400 partners making SVP the largest network of engaged donors in the world.

We had a great conversation on how impact investing works and how communities and organizations can tie into the movement.

It was part of a day that brought a who’s who of players in the field to Boca Raton.

Here’s just a few of the stars who spent time at Lynn last week: the aforementioned Ron Cordes of the Cordes Foundation who chairs Lynn’s Social Impact Lab, Paul Rice, founder and CEO of Fair Trade USA, Eric Glustrom, CEO and Founder of the innovative Watson Institute (which now has an office on the Lynn campus), Eric Stephenson of Align Impact, Steve Fox of Impact Global Education, Felice Gorordo, CEO of Emerge Americas and a slew of other superstars in the impact investing and entrepreneurial worlds.

That all of these players—worldwide influencers—were gathered at Lynn is extremely significant and very exciting.

Lynn sees itself as a convener—which is a great role for a university to play—leading conversations around important topics and emerging opportunities.

Lynn’s new Social Impact Lab, includes event space and co-working opportunities giving both students and the community a place to gather, interact, collaborate and create. I had a chance to meet some really interesting students last week some of whom have ideas for social enterprises or businesses that have as part of their DNA plans to give back.

One student, Raymond Francois, is an aspiring food entrepreneur who is a Coast Guard veteran. As part of Lynn’s Social Impact Lab, Mr. Francois was able to travel to Macedonia where he worked with locals on community projects. The experience was life changing. As a result, his post grad plans include a business that would bring healthy food to underserved local neighborhoods. That’s very cool.

By investing in the next generation of game changers and opening a world of possibilities to their students, Lynn University guarantees against disruption and positions itself for years of success.

That this exciting world is happening on Military Trail ought to make all us very proud and excited about the future.

 

 

 

Lynn’s MBA in Delray: Only The Beginning

A most welcome addition

Last night was an important one for Delray Beach.

Quietly, before a few guests, the trajectory of our downtown might have changed forever.

That’s a big statement. I may be wrong, but let me try and back it up.

After months of negotiations, Lynn University will launch an MBA in Delray program focusing on entrepreneurship and marketing at the Delray Chamber. The one-year program will be offered at night and tailored to working professionals and entrepreneurs.

The move was announced a few weeks ago, but it felt real last night when a contingent of Lynn staff led by President Kevin Ross and Business School Dean Dr. RT Good told a small gathering of local leaders and entrepreneurs why they chose Delray and what the program will entail.

Folks, we have to make this work. Why?  Because if it does it changes the game and enhances the brand that has been fostered by a slew of Delray Beach visionaries and stakeholders since the mid-80s.

Dr. Ross and Chamber President Karen Granger see the MBA in Delray as an innovative model that chambers and universities can replicate across the country. It enables chambers to get needed revenue, enhance value for their members and grow local economies, while enabling universities to reach into communities and tailor programs to meet local needs and trends.

Dr. Good and the Lynn team have been hard at work designing a “different” kind of curriculum that promises deeper relationships with faculty, classmates and local businesses while focusing on leadership, hands-on projects and case studies.

For the chamber it enables a deeper dive into the world of entrepreneurship, a focus and passion for President Granger who has quietly but persistently nurtured relationships with a growing number of promising local entrepreneurs. Many were there for the Lynn celebration including Brian Niles of Rooster, Eric Bucher of Call Sprout and Project Runway’s Amanda Perna, who runs “House of Perna,” an emerging fashion design brand.

Delray and Boca’s emerging foodie economy was represented as well with catering by fabulous Farmer’s Table restaurant, which I think has enormous potential. (Here’s where I should plug my two food/beverage related brands Tabanero and Celsius, but that would be indulgent no? Wink)

All of this is to say, that this partnership may signal that Delray’s downtown and indeed its economy is expanding beyond food and beverage—and that’s a good thing. A diversified economy is a more resilient and sustainable model.

Many years ago, Delray made a conscious choice to lead with food, beverage, culture and festivals to jumpstart its moribund, dull and dangerous downtown corridor.

It was a smart move, brilliantly executed by many, many important contributors and risk taking entrepreneurs.

And it worked, remarkably well.

We have a vibrant, valuable, cool, and attractive and revenue generating downtown that looks and feels good.

Our restaurant “row” generates crowds, creates jobs and helped to change how people see Delray Beach.

Our cultural and intellectual amenities: Old School Square, the Delray Beach Library, Spady Museum, Sandoway House, Delray Historical Society, Arts Garage and historic districts make us a distinct destination which drives property values, tax base, quality of life and tourism which is another critically important industry.

Festivals have also played and continue to play a major role. Which is why it was incredibly disappointing to see the debate about their value so mishandled. It’s an opportunity missed because so many cities are building their economies and brands around festivals. It’s something that should be revisited and expanded beyond the myopic debate around cost and inconvenience. I’m not saying that cost and resident convenience isn’t critically important because it is, but most of those issues can be solved with creative planning and by examining the revenue side of the equation and the intrinsic value created by events.

The Delray Marriott, Residence Inn, Seagate Hotel, Hyatt, Fairfield, Crane’s Beach House, Wright by the Sea, Parliament Inn, the historic Colony Hotel, Sundy House and other properties are extremely valuable assets that drive our economy and brand. They don’t stay viable and valuable—if we don’t have a vibrant local economy with many parts working.

The Delray ATP and the many junior events as well as our golf courses and sports facilities are also important assets that can be grown, nurtured, promoted and leveraged to keep our economy sustainable and the Delray value proposition higher than most other cities—especially small cities. We compete for investment and jobs. And we’ve built a powerhouse of a charming little city.

Cities that work have many moving parts that have to work together in concert to create lasting value.

Delray—imperfect as it is, challenged as it is—has done that. Value has been created. Quality of life and place has been created. It is our job and our responsibility to keep it going and to create a city of opportunity for all.

Through my 30 years here, my community involvement and my professional life—I get to meet and work with many talented people who aspire.

Kids from Atlantic High School and Village Academy who want to come back to Delray and make a life here, City staff who went into public service to make a difference, startup founders whom I encourage, informally advise and ask for help myself on my business challenges, educators who care, non-profit leaders who perform miracles, established business owners who volunteer and invest here, retirees who mentor, artists who amaze and parents who want to see their children achieve the American Dream in a world that is increasingly complicated and fraught.

They want a Better Delray—they’ve wanted that for a long time and they’ve made and are making a difference.

So yes the Lynn MBA in Delray is very big news.

I know President Ross. He’s a friend. He’s a visionary. He and his talented team make things happen. So this is just a start.

But it’s an important beginning. A unique and innovative university is working with our Chamber of Commerce in our downtown—and the potential is enormous.

In his remarks last night Dr. Ross noted that he recently began talking to his teenage daughter about life after college (she’s still in high school). Does she want to come back to Florida? Of course, she does.

Where does she want to live?

Delray.

She’s not alone. So take pride. Something very special was built here and the best is yet to come.

Welcome to Delray, Lynn University.

We’re thrilled beyond words.

We’ve wanted you here for a very long time.

Many people have worked very hard to catch your attention and create a place you and your students will want to be.

 

 

On Doc’s, Real Estate & The Importance of Libraries

Doc'sRandom thoughts on Disparate Subjects…

Real estate prices in Delray Beach and Boca Raton can be mind boggling.
We’ve all seen the headlines regarding Doc’s, the Sundy House, the Green Owl and Huber’s Drugs.
Big prices. Huge bets being made by deep pocketed people.
These are iconic properties and as such important.
Change is also important and inevitable but it’s also critical that a city hold onto to its history, it’s look and it’s feel.
While I cannot begrudge property owners for selling their land for big prices I think there are two concerns that cities can address–they’re not easy challenges and the solutions are imperfect but worth considering.

Those concerns are affordability and  design.
Maintaining affordability in a sizzling market is not easy–market forces are strong and difficult to buck. But there are some strategies cities can deploy to ensure that mom and pop merchants can remain viable.
On the residential front tools such as density bonuses can be used to ensure at least some affordability.
Delray has also done yeoman’s work by creating and supporting a very effective Community Land Trust in which a non-profit entity buys land, develops property and places the land in a trust to ensure affordability in perpetuity. Homeowners own the homes but the land remains in the trust and increases in values are capped.
One wonders whether a similar approach can be taken to commercial property–an expensive proposition no doubt but it might be something to explore for culturally important properties.
Other tools include historic designations which would not cap appreciation of values but would control what can happen to a property if it is bought and redeveloped. If properties are not already designated historic, property owners often balk at seeking the designation because it hinders development. This is not a phenomenon limited to developers, we’ve seen single family neighborhoods rebel when the historic word is used.
I always felt CRA’s could be used to strategically acquire properties so that the city can control their disposition.
While there are some constraints and limitations (including the Sunshine law which makes it hard for CRA’s to move on land discreetly) there’s no doubt that CRA’s can and have bought important properties enabling cities to shape the future look, feel and use of land and districts.
I think an opportunity was missed to purchase the warehouses in the Artist’s Alley neighborhood. If the CRA had grabbed that strategic real estate to go along with their wise purchase of the Arts Warehouse there’s no doubt we could have had a sustainable arts district–our version of Wynwood which could have been placed in a trust and managed by another entity.
Instead, the battle between community desires and market forces will persist and we all know the win loss record on that front isn’t good. Delray’s track record is actually better than most cities in this regard as a result of visioning efforts and CRA investments. When you own properties you can control their destiny. The City Commission would be wise to tighten their relationship with the CRA, get on the same page and work together on these types of initiatives.
The other tools available to cities worried about gentrification are to develop design guidelines to stop or mitigate generic architecture and to encourage the development of other shopping districts so that as areas heat up, independents have a place to go.
Delray’s brave decision to narrow Federal Highway has converted that stretch from a highway to a neighborhood street opening up commercial possibilities. South of the avenue and other nooks and crannies may also offer opportunities now that Atlantic Avenue and Pineapple Grove’s prices have soared. Of course, with prices exceeding $1 million on acre on US 1 it won’t be easy.

Libraries are cool
We had an opportunity to attend the 10th annual Laughs With the Library event at the Marriott featuring the terrific Bobby Collins.
If you haven’t seen Bobby perform, put it on your bucket list. He’s a comedian’s comedian.
A large crowd turned out to support our library. That was heartening to see.
Lots of rumors are swirling around the library including making it a city department. That would be a mistake.
The Delray Library has a rich history and it’s location is ideal to serve the community. It also happens to be a beautiful place.
Is there a place for a library in the 21st Century? Yes, as a community hub, intellectual center, lifelong learning facility and a place for children and families to develop and indulge a love of books and reading. That’ll never go out of style.

Real estate buzz at Lynn

A few weeks ago, Lynn University President Kevin Ross convened a round table to discuss the creation of a real estate program at Lynn.
I was privileged to attend the small gathering and encouraged to start spreading the word. So I will. Gladly.
I’m a huge Lynn fan and a big admirer of Dr. Ross who is entrepreneurial and innovative. He’s a leader. And I like leaders.
The idea is not fully hatched yet but there’s a resolve and a commitment to create a boot camp program to teach skills to those passionate about real estate.
Executives from GL Homes, Kayne Anderson, Avison Young are at the table and there is a huge need to train people in all aspects of the profession.
Since growth and development are always at the top of the list in Boca and Delray it’s important to train a new generation in skills ranging from design, transaction, land use, resiliency, environmental sustainability, urban planning and more.
There’s also a screaming need to elevate the dialogue around these issues. Here’s predicting that Lynn will lead the way.

Water Cooler Wednesday: Lynn University Business School Key Addition

Lynn is making waves in local and regional business circles

Lynn is making waves in local and regional business circles

Lynn University is a local gem and an emerging player in the region’s business community.

Under the leadership of President Kevin Ross, the small university on Military Trail in Boca Raton, has become a hotbed of innovation thanks to a unique curriculum and a strong commitment to using technology to deliver education through a partnership with Apple.

Lynn has also earned a national profile as the host of a 2012 Presidential Debate.

The school is making a splash in business education circles as well with a competitively priced MBA program and the construction of a new business school.

The International Business Center will be a state of the art facility that will fit in nicely with other new buildings on the campus, most notably the stunning Wold Performing Arts Center, site of the debate.

Construction continues at a steady pace on the International Business Center (IBC). The building, which will be three stories when finished, is expected to be completed by the fall. Right now construction crews are fitting the glass panels surrounding the building.

“The building will be a magnificent addition to our campus and will offer our students a first class learning environment,” said Gregory Malfitano senior vice president for development and administration.

Here’s a closer look at the building’s progress and features.

LEED PLATINUM CERTIFICATION

The IBC is designed to achieve Leadership in Energy and Environmental Design (LEED) platinum certification, which is the highest level of certification awarded by the United States Green Building Council (USGBC).

IBCTo achieve this one of the systems being installed, called chilled beam, is a type of highly efficient air conditioning that works by piping chilled water to each room.  In addition, an energy meter is being installed, allowing Lynn to monitor the amount of energy saved each month and compare it to similar buildings on campus that use traditional air conditioning systems.

The IBC is designed to take advantage of natural sunlight as a lighting source, which decreases the need for artificial lighting and in turn saves energy. The building is estimated to save 40% in energy and 50% in potable water use compared to similar traditional buildings.

BUILDING FEATURES

Spread over 32,000 sq. ft., the building’s features include:

  • 10 classrooms
  • 10 study rooms
  • 1 idea lab
  • 1 investment center
  • 32 staff and faculty offices

The International Business Center also features state of the art technology for video-conferencing and collaboration.

The Business School recently lost its dean, Tom Kruczek, who became president of Notre Dame College in Cleveland, Oh., but expects to have new leadership in place soon.

Boca Raton’s business scene is rapidly taking shape with FAU’s new Tech Runway, Lynn’s new business school, programs such as the Boca Chamber’s Young Entrepreneur’s Academy and efforts such as MedUTech, which emphasizes the city’s strengths in medicine, education and technology. Spanish River High’s Entrepreneurship Career Academy and Boca High’s renowned STEM (Science, Technology, Engineering and Math) program are also valuable building blocks.

Local business leaders are also encouraged by recent election results in Boca, in which pro-business candidates won seats on the council.