3Space Joins Social Entrepreneurs with Owners of Vacant Properties
Bianca — December 15, 2011 — Social Good
References: 3space.org
3Space is one of those social businesses that makes you wonder how it could have taken us so long to come up with such an obvious solution: filling empty real estate with socially-beneficial organizations.
One of the main issues nonprofits and budding social enterprises face is that low budgets make discovering affordable real estate a real challenge. But every city also has empty commercial real estate, just sitting there, so 3Space came up with the idea to bring such organizations into partnership with landlords while their properties are empty. They created a model for "meanwhile" use.
"It is difficult for an individual charity to negotiate with a landlord for short term use of an individual property," 3Space says on their Facebook page. "There is also little incentive for the landlord to make one property available on its own. However as an intermediary we believe we can offer major incentives to landlords and reduce the legislative burden and negotiation issues for charities who want to try this type of use. 3Space offers a favourable solution to landlords, charities, local goverment and ultimately the communities where it operates."
The website offers more detail for those interested in getting involved, but their mission is simple: "For all empty property to be recognised as an available resource that can deliver immediate social benefits and be a catalyst for longer term regeneration."
Contact Information
3Space website
3Space on Twitter
3Space on Facebook
One of the main issues nonprofits and budding social enterprises face is that low budgets make discovering affordable real estate a real challenge. But every city also has empty commercial real estate, just sitting there, so 3Space came up with the idea to bring such organizations into partnership with landlords while their properties are empty. They created a model for "meanwhile" use.
"It is difficult for an individual charity to negotiate with a landlord for short term use of an individual property," 3Space says on their Facebook page. "There is also little incentive for the landlord to make one property available on its own. However as an intermediary we believe we can offer major incentives to landlords and reduce the legislative burden and negotiation issues for charities who want to try this type of use. 3Space offers a favourable solution to landlords, charities, local goverment and ultimately the communities where it operates."
The website offers more detail for those interested in getting involved, but their mission is simple: "For all empty property to be recognised as an available resource that can deliver immediate social benefits and be a catalyst for longer term regeneration."
Contact Information
3Space website
3Space on Twitter
3Space on Facebook
Trend Themes
1. Vacant Real Estate Partnerships - Opportunities for social businesses to partner with landlords to fill empty real estate with socially-beneficial organizations through the use of a "meanwhile" model.
2. Affordable Real Estate for Nonprofits - Opportunities for social entrepreneurship to flourish through the use of vacant commercial real estate on a short-term basis, reducing legislative burden for charities who want to try this type of use.
3. Real Estate for Social Benefits - The recognition of empty property as available resources for immediate social benefits, with potential to be a catalyst for longer term regeneration.
Industry Implications
1. Real Estate Industry - Opportunities for landlords to partner with social businesses and non-profits to fill empty real estate, and earn incentives in the process.
2. Social Entrepreneurship - Opportunities for social enterprises to discover affordable real estate for their organizations, thereby reducing costs and allowing more funding to go towards their causes.
3. Government Sector - Opportunities for local government to support the use of empty property for social benefits, thereby enhancing the well-being of communities and reducing costs incurred by supporting non-profits on their own.
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