Journal
JOURNAL OF URBAN AFFAIRS
Volume 28, Issue 5, Pages 429-442Publisher
ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
DOI: 10.1111/j.1467-9906.2006.00308.x
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The challenges confronting distressed communities in the United States are complex and multifaceted. Communities large and small have been significantly affected by a myriad of social, environmental, and economic forces, including a continuing decline in manufacturing employment, uncontrolled sprawl, and the transition to a global economy. The traditional choice between a place-based theory of redevelopment strategy versus a people-focused theory no longer seems feasible or appropriate. This article outlines sustainable development as an alternative strategy that combines a place-based development strategy, a human development focus, and an environmentally mindful approach. It posits that there exists a direct positive relationship between the creation of social capital, the redevelopment of the built environment utilizing sustainable development practices, and community-based organizations in distressed communities. Furthermore, the authors suggest that through community investment-a socially responsible investment strategy-institutions of higher education can facilitate the rebuilding of communities by providing financial capital while gaining a moderate yet secure financial return as well as a substantial social return.
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