Brandon Donnelly — Daily insights for city builders. Published since 2013 by Toronto-based real estate developer Brandon Donnelly. — Page 1446

I don’t have any tattoos and I have no plans of ever getting one, but if I were in the market for something to tattoo on my body, this Latin phrase would be a solid contender:  Audentes fortuna iuvat .  It translates into something along the lines of: Fortune favors the bold . And it’s one of my favorite proverbs.

The supposed meaning behind the phrase is that Fortuna , the Goddess of fortune and luck, was believed to be more likely to help those that took risks, took action, and were generally bold. And what I like about this is that it doesn’t make luck some abstract thing that people either have or don’t. It firmly transforms luck into something that you yourself can create. That is, if you want it.

Earlier this month, venture capitalist Fred Wilson wrote a post on his blog called Get Lucky , where he talks about the research that psychologist Richard Wiseman did on so-called lucky and unlucky people. Wiseman concluded the following:

My research revealed that lucky people generate good fortune via four basic principles. They are skilled at creating and noticing chance opportunities, make lucky decisions by listening to their intuition, create self-fulfilling prophesies via positive expectations, and adopt a resilient attitude that transforms bad luck into good.

Obviously, the common thread between these two ideas is that luck is something that you yourself can control. Lucky is a state of mind. Whether you believe in greater powers or not, people at least as far back as the Roman times identified the benefits of taking action, risk, and of boldness. It creates opportunity. And it creates luck. 

I try and do as much of that as I can.

Recently Priceonomics posted a piece on San Francisco’s “rent explosion.” In it, was the infographic above showing the median rental rate for a 1 bedroom apartment in the city. The most obvious takeaway is that San Francisco is real expensive. In the core of the city, you’re easily looking at $3,000 per month.

That is with one exception: the Tenderloin (the green area just northwest of SOMA in downtown). The first time I ever visited San Francisco, I actually stayed on the outskirts of this area, which is a neighborhood well known for seediness, homelessness, crime, drug trade, strip clubs, and so on. And it was actually named after a similar neighborhood in New York that was also a center of vice in the late 19th and early 20th centuries.

But when I saw this diagram, I immediately asked myself: How could it be that the Tenderloin was holding out so well against the forces of gentrification? How is this island of seediness being preserved in the center of downtown? Particularly in a city like San Francisco where there’s a perpetual housing supply shortage and lots of wealth. The Tenderloin has some of the lowest rents in the city.

So I tweeted the good folks at Priceonomics and they responded with this article . It’s a few pages long, but the reasoning seems to come down to the following: active community groups that fought to keep developers out of the area (and that also own many of the buildings), downzoning, and a high percentage of rooming houses. According to that same article, the Tenderloin contains approximately 100 single room occupancy residential hotels (or SRO’s as they’re called). These were initially built to house the city’s transient and seasonal population after the great fire of 1906.

So it would appear that there are some significant barriers to entry.

But at the same time, it generally seems like a bad idea to concentrate poverty, homelessness, drug users, and so on. Interestingly enough, the article talks about how when the Bay Area’s transit system went on strike for a period of time, the supply of drugs actually dried up in the Tenderloin. This underscores how regional the drug business is, but also makes me think that dealers are almost surely benefiting from the clustering of their client base.

In any event, this is a much larger problem than just a real estate development one. I don’t know what the solution should be, but I’m pretty sure that things are being made worse by concentrating everything in one neighborhood and by rising income inequality in the city. Inequality seems to lead to all kinds of negative externalities and, from my experience, mixed-income neighborhoods perform better than 100% poor ones.

Back in April I wrote about a competition for young people to reimagine public space in Toronto. It was called NXT City . Well that prize has been awarded and the winner was Richard Valenzona for his vision–called Yonge-Redux–of a new and reimagined Yonge Street. To download the PDF of his entry (the image shown above), click here .

The proposal encompasses a stretch of Yonge Street that runs from Queen Street in the south, to College Street in the north. It would capture the Toronto Eaton Centre (mall), Yonge-Dundas Square, Ryerson University’s expanded Yonge Street footprint, and the massive mixed-use developments happening in the College Park area (see Aura Tower ). To quickly simplify, the proposal is essentially about enhancing the urban experience, prioritizing pedestrians, and reducing the flow of cars to two lanes.

Overall, I think it’s a wonderful proposal and I’m not surprised it won NXT City. This type of intervention is on so many of our minds. In fact, it’s somewhat surprising that we’ve been as slow as we have to improve our main street. There are so many anchor institutions, such as the Eaton Centre and Ryerson University, that plug into this section of Yonge Street. It makes a lot of sense.

But as I said in my original post, one of the most exciting things about the NXT City Prize is that it has always been about execution. This is not just an academic exercise–or at least that’s the hope. This exercise is about spurring real change in the city and I genuinely hope that they’re successful in doing so. Because then I can turn around and say: Take that Melbourne :)

Kudos to Richard Valenzona,  Mackenzie Keast , as well as everyone else involved in NXT City, for making this initiative a reality and for doing your part to make Toronto even more awesome.