It first must connect all of us.
Then, it must transport all of us forward together as one.”
Helping to build that bridge to the future, welcome to:
JJK PLACES, PBC
Social Impact Real Estate
We are a unique social impact enterprise
(aka for-profit “benefit company”)
that uses real estate as a tool
to serve communities by creating
positive social change that produces
long-term value for all stakeholders.
We call this “Public Good Entrepreneurship.”
With it we are out to change the
paradigm of real estate development
in Denver, and beyond.
JJK PLACES, PBC
is Denver and Colorado’s first “social impact real estate” development and consulting company, focused entirely on mission-driven real estate projects.
We also are the first Colorado real estate entity of its type to be legally structured as a “benefit corporation” (called a “public benefit corporation” or PBC in Colorado).
JJK PLACES, PBC is one of the few real estate companies in the entire country to be legally structured as a benefit corporation.
CREATING PUBLIC GOOD
There’s a growing global movement that believes business should be a force for creating public good.
JJK PLACES, PBC is using real estate
as a force for creating public good.
“Social Impact Real Estate.”
It is JJK PLACES only focus.
So it makes us uniquely positioned and qualified
to do it well, and to deliver
what we and our collaborative
partners seek to accomplish.
Our Overarching Goal is Simple:
To wield the built-environment as a tool to increase
opportunity, community, and social equity – particularly in
urban areas and historically underserved neighborhoods.
JJK Places uses this goal to help make
people focused, community-centric
real estate projects into reality for our collaborative partners.
Real Estate Development
In real estate development projects, JJK Places can serve in one of three general roles: 1) developer or co-developer / joint venture partner, 2) fee-based owner’s rep / project manager, or 3) as a consultant / advisor.
We develop, co-develop/joint venture, project manage, consult, and advise on a wide variety of real estate project types, collaborating with a broad array of stakeholders.
JJK Places offers our expertise to consult and advise, or can act as an owner’s rep on a variety of project types. We have expertise and experience to consult on every stage of the real estate development process.
"Social Impact Advisor"
The SIA role exists to advise developers, property owners, community groups, nonprofits, funders, and others on ways to maximize the social impact and community benefiting components of a proposed future real estate development project.
JJK PLACES is a “Triple bottom-line” company, meaning our projects are not driven by, nor is their success measured by, solely dollars signs. Instead, we have three equal priorities that guide all of our work and the projects in which we are involved. These priorities are: PEOPLE, WELLNESS, and PROSPERITY. They are priorities we take very seriously.
Additionally, JJK PLACES pays close attention towards fulfilling ESG standards—Environmental, Social, and corporate Governance standards—in the operations and management of our business.
People, Local Residents, and Community
Human Health & Wellness,
and JJK’s “6 Sustainabilities”
Long-term Value Creation for
JJK PLACES AND THE “FOURTH SECTOR”
The “fourth sector” is a rapidly emerging new sector of the economy that combines the purpose and logistics of the existing three sectors of the economy. “Fourth sector” entities combine market-based approaches inherent in the private sector with the social, public good, and environmental objectives characteristic of the public (i.e., government) sector and the non-profit sector.
As a legal public benefit corporation, JJK Places is obligated to fulfill a “public good” mission. JJK Places is one of the first “fourth sector” real estate entities in the country, and the first in the state of Colorado. We are leading the way in changing the paradigm of what past conventional “community-oriented development” has been.
The staff at JJK PLACES, along with our advisors and investment partners, has years of experience and adept expertise working with socially-conscious real estate. These attributes combined with our tenacious determination and innovative problem-solving skills, forge a unique and diverse real estate team unparalleled in Colorado for its capacity to produce significant results creating, managing, and advising on the social impact components of current and future real estate development and investment projects.
SOME REASONS FOR OUR WORK
live in households that are “Severely Cost Burdened” because they are spending 50% or more of their household income on housing costs.
Approximately 714,000 Coloradans, or 12.5 percent of the state’s population, live in households that are “Severely Cost Burdened” because they are spending 50 percent or more of their household income on housing costs. As such it often curtails their ability to pay for medical care, buy food or clothes, or obtain other life necessities. Per federal standards, a household should spend no more than 30 percent of their gross income on housing costs. (Source: Colorado Department of Local Affairs, Division of Housing)
Over 26 percent of white Coloradans live in households that are “cost-burdened,” meaning they spend more than 30 percent of their income on housing. Among African Americans in the state, 39 percent are “cost-burdened.” (Source: Colorado Health Institute)
(Source: Colorado Department of Local Affairs, Division of Housing)
41% versus 16%
Average increase in residential rent vs. household income that occurred in Denver between 2007 and 2018.
Between 2007 and 2018, the average residential rent in Denver increased 41 percent, while average household income during this same period only increased 16 percent. (Source: SPARCC and Mile High Connects)
The disparity was even greater in communities of color, which also have experienced the greatest impacts of involuntary displacement due to rising rental rates, particularly as once affordable neighborhoods become gentrified. The once substantial Latino community on the Northside of Denver has decreased by 40 percent in the past decade as rents and property values have skyrocketed.
The number of children enrolled in Denver Public Schools who are homeless. This figure has tripled since 2010.
2,300 children enrolled in Denver Public Schools are homeless. That number is triple what it was in 2010. However, the number is undoubtedly higher as this figure does not include homeless babies and preschoolers, nor does it count the children who move from town to town with their families and don’t enroll in the DPS system. (Source: The Denver Post)
380.2% and 58.6%
Increase in the value of a Denver house between 1991 and Q2 2019; and increase in the sales price of the average Denver house in the last 5 years (2014 – 2019)
23,000 children enrolled in Denver Public Schools are homeless. That number is triple what it was in 2010. However, the number is undoubtedly higher as this figure does not include homeless babies and preschoolers, nor does it count the children who move from town to town with their families and don’t enroll in the DPS system. (Source: The Denver Post)
LIVE RADIO INTERVIEW
JJK Places’ Founder and President, Will Kralovec, was interviewed on live radio in early February to talk about our company, its “triple bottom-line” business model, and the future of social impact real estate.
The interview took place on February 12, 2020 on independent community radio station KGNU (Boulder/Denver), which is heard at 88.5 FM and 1390 AM. Will was a guest on the radio show “On the HEAL Tip! (Health, Eating, Active Living)” with host Beverly Grant.
A .pdf transcript of the interview is available here: Coming soon.
The full uncut interview can be heard here (about 25 minutes):
"On the HEAL Tip! (Health, Eating, Active Living)" with host Beverly Grant and guest Will Kralovec
SAMPLE PROJECT #1
50+/- Affordable For-Sale Residential Condos, and approximately 15-20,000 sq ft of commercial space targeted for community-serving uses in a unique mixed-use project incorporating new construction and renovation of existing industrial space.
SAMPLE PROJECT #2
Creating Scattered Site Affordable For- Sale Single Family Houses in the Denver Metro Area.
SAMPLE PROJECT #3
JJK Places is serving as Owner’s Rep/Project Manager of a unique four (4) house development project in Aurora. This is an affordable housing “demonstration” project.” It is utilizing both “Solar Decathlon” modular houses and a steel modular “cargo container” house.
From the laptop of JJK Places’ President: Further evidence of why the work that JJK Places and others in the affordable housing realm is so crucial was recently released via a study cpnducted by the Washington, D.C.-based National...
From the laptop of JJK Places’ President: "It's exciting to see these three future affordable housing developments get the city's blessing by helping to fund them," said Will Kralovec, president of JJK Places, PBC. He added, "It's...
From the laptop of JJK Places’ President: The Coronavirus is not only affecting people's health and altering American's usual lifestyles and routines, but it is causing new housing affordability challenges for millions of...
At JJK Places, we don’t believe we are merely in
the real estate development business,
but rather in the opportunity development business.
JJK PLACES, PBC . . . Social Impact Real Estate
Uncommon Kind of Company.