Urban 'Smart Growth' Lending a Hard Sell to Realty Bankers American Banker (10/30/00) Vol. 104, No. 42 p.1; Bergquist, Erick
Smart growth, which redirects development to inner
cities, is creating vast lending opportunities for banks.
According to city officials and urban renewal groups, the fact
that suburbanites are looking to move back into the city, coupled
with federal, state and local economic incentives, makes a good
argument for lenders to invest in needy areas. From a banker's
perspective, opportunities exist to improve public relations,
fulfill Community Reinvestment Act requirements and get in early
on a potentially profitable market.