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Community Revitalization

Discover How REITs Help Benefit Communities

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What is a REIT?

A REIT or Real Estate Investment Trust is a company that owns, operates or finances income-producing real estate. Established by Congress in 1960 and modeled after mutual funds, REITs provide all Americans the opportunity to invest in large, diversified portfolios of income-producing real estate in the same way they typically would invest in other businesses, buying stock either directly or through mutual funds. REITs help communities grow, thrive and revitalize.

Learn how REITs help benefit your community and the economy.

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REITs help Revitalize Communities

When REITs decide to invest in development anywhere across America, the benefits can be seen far and wide. REITs are building everything from medical centers to offices, from retail centers to college housing — all of which help enhance the surrounding communities.

Whether it is new development or renovating existing properties that have fallen on hard times, REIT development projects mean jobs, better infrastructure, and increased economic activity for local communities.

Quick Facts:

U.S. REITs contributed the equivalent of an estimated 2.9 million full-time jobs to the economy in 2020, generating $197 billion of labor income.
In 2020, REITs invested $85.3 billion in new construction and capital expenditures to maintain existing property.
REITs own more than 503,000 real estate assets across the U.S.

Featured REIT Projects


REITs help benefit communities across the country. Scroll to see how the featured REITs benefited their local community and economy.

1.

The Yards D.C.

Forest City Realty Trust has helped turn 48 acres of abandoned government industrial facilities into a vibrant community in southeast Washington, D.C., complete with a diverse set of local merchants, unique office facilities and newly constructed apartments and condos. Situated next to the Washington Navy Yard along the banks of the Anacostia River, the development project, known as The Yards has played a part in growing the economic activity in the area and the creating hundreds of jobs.

The Yards Quick Facts

1.8 million square feet of office space
400,000 square feet of retail space
3,400 residential units
In addition to helping transform the neighborhood, it is estimated that The Yards will contribute more than $60 million annually in new tax revenue to the District of Columbia.
2.

Assembly Row, MA

Just three miles away from Boston's financial district, Federal Realty Investment Trust's Assembly Row in Somerville, Massachusetts sits on land once occupied by brownfields and decaying industrial buildings. The mixed-use development, which includes an assortment of retail, dining, entertainment, office and residential spaces, is credited with helping to transform the local economy.

Assembly Row Quick Facts

972,000 square feet of retail space, 2.8 million square feet of office space at completion
Estimated 21,000 construction jobs generated by the full buildout
1,700 permanent job positions
56 apartments as affordable housing
Phase 2 will include an additional 167,000 sq. ft. of retail, 450 apartments, 134 condos, a boutique hotel, a grocery store and a third entertainment anchor.
3.

Arizona State University

American Campus Communities (ACC) and Arizona State University (ASU) have had a long-standing partnership to address the housing needs of ASU's increasing student enrollment. ACC developed its first 1,866-bed on-campus project at ASU's Tempe campus, Vista del Sol, in 2008. That project was quickly followed up by the development of Barrett Honors College's Residential Complex in 2009. ASU entrusted ACC with the redevelopment of its iconic Manzanita Hall in 2013. Most recently, ACC built the Fulton Schools of Engineering's Tooker House. Taken together, ACC will have spent nearly $500 million to help meet the needs of ASU's students and delivered a total of more than 7,500 beds.

Arizona State Quick Facts

The REIT's financing, developing and managing of Arizona's student housing removes these burdens from the university, helping the university control its costs so that it can continue to offer a high quality university education at a price students can afford.
Amenities include state-of-the-art fitness centers, 24-hour staff, study lounges, recreation centers and fully furnished apartments.
The next collaboration will be the student-driven development of a Greek village to house fraternities and sororities by 2018.
4.

Georgian Terrace

Sotherly Hotels

The Georgian Terrace opened as a 10-story hotel in 1911, and its history and unique features made it a priority for Sotherly. Sotherly purchased the property in 2014 for $60 million with a vision of restoring the hotel back to its past stature, and encouraging greater business activity in the area.

Sotherly immediately took to putting its own stamp on the hotel, including investing roughly $8 million in refurbishing the rooms.

Georgian Terrace Quick Facts

The hotel has 326 guest rooms and a parking garage with nearly 700 spaces.
Approximately 170 employees make up the Georgian Terrace staff.
The hotel hosts approximately 100 wedding receptions per year.
The guestrooms at the Georgian Terrace average more than 800 square feet.