APARTMENT ADVOCATE
APARTMENT ADVOCATE
NATIONAL APARTMENT ASSOCIATION / NATIONAL MULTIFAMILY HOUSING COUNCIL
LIVE Denver Has Residents Feeling Good
A recent tweet from Country Time Lemonade made a big splash on social media : Faced with high-profile cases of individuals reporting children ' s lemonade stands for lack of permitting , they quickly organized the best response possible . Country Time will now be providing assistance for the licensure and legal expenses of any child ’ s lemonade stand that is victim to such adult foolishness .
The tweet was highly active and widely received with a smile . Cases like these highlight an aspect of marketing that comes further forward in the minds of consumers as the Millennial generation ages into key demographics : Corporate social responsibility .
More so than ever before , corporate social responsibility actions are dictating markets . In a 2017 study by Cone Communications , a reported 87 percent of Americans answered that they would purchase a product because a company stood up for an issue that they cared about . Seventy-six percent even said that they would refuse business if they learned a company advocated contrary to their beliefs . In specific , they found Millennials 10 percent more likely to research and act on those factors . Further , 71 percent of Millennials are looking to business not just to speak up , but to lead on issues they care about .
In an age of instant gratification , efforts like this are increasingly important to customers choosing who should receive their business ; a fact not lost on Nancy Burke of the Apartment Association of Metro Denver ( AAMD ).
Her involvement in the inception of the LIVE Denver program , which is now flourishing , has provided a valuable illustration of the immense social benefit that the business community can achieve when its mind is set to one purpose .
“ A member of mine was then and is now committed to the idea that we should be bringing solutions to the table regarding affordable housing ,” Burke says .
“ We believe in showing the community that we are not the ‘ money-counting monopoly man ’ that we are sometimes painted as .
“ We were finding that companies in Denver were having a problem recruiting talent . We were on a fast track to becoming a ‘ second choice ’ city . The housing costs had led to many top flight recruits in many fields to turn elsewhere for employment because of high housing costs , which obviously couldn ’ t be allowed to continue unnoticed .”
This intersection of problems set the stage for the LIVE Denver program , which is now in its second year of piloting .
The program is a public-private partnership between businesses and foundations contributing money or volunteering apartment units , and the city of Denver . The last participant is a qualifying citizen , who signs a lease with a participating property management company with a short addendum that brings them under the LIVE Denver umbrella .
The local apartment industry , driven largely by independent operators and small companies , found 400 units to bring under the program . Each recipient contributes 35 percent of their income to rent payment , and the rest is paid for by contributions
87 percent of Americans would purchase a product because a company stood up for an issue that they cared about .
to the LIVE fund . The Denver Housing Authority administrates the program in conjunction with the Denver Office of Economic Development .
“ We started this from the ground up ; there was no blueprint ,” says Burke . “ But with the help of the city , our members and a lot of communityresponsible businesses and foundations , we were able to create from scratch this program that is now making an impact on housing affordability in the Denver area . We are helping property owners fill their units , we are helping businesses recruit better talent , but most importantly we are helping people find their homes
50 | TRENDS SEPTEMBER 2018 www . aamdhq . org