Building ethically doesn’t mean sacrificing success, it’s actually the key to it.
That’s the lesson Carla Guererra learned after 20 years working with public and private groups developing more than $1 billion in large, complex projects.
“I’ve worked on projects that are really financially-driven and projects that have more of a social and environmental drive to them,” said Guererra. “When we deliver projects with a triple bottom line approach versus a bottom line only approach, the triple bottom line projects are financially performing better.”
She explained projects with environmental and social goals that align with their surrounding community are approved and built faster and come in more often on budget than profit-driven ones.
After watching this pattern play out over and over, Guererra started her own development company, Purpose Driven Development, designed around the lessons she learned.
“When we bring a purpose-driven approach, we unlock complex developments that create communities where everyone can thrive – that means investors, cities and the planet,” said Guererra. “The private sector is overly focusing on the bottom line and missing opportunities to amplify project benefits which can speed approval timelines. This reduces costs and creates more value overall.”
One of Purpose Driven’s current projects, an affordable housing project for women, was recently able to zoom through Vancouver’s notorious rezoning process in less than eight months. Guererra got involved in the project when she was approached by Soroptimist International of Vancouver to be the development lead on an affordable and long-term housing project for senior women, women-led families and workforce women. The project team is also bringing aboard female experts in engineering, architecture and other professions to highlight accomplishments of women in a male-dominated industry.
“It’s the first project of its kind in Canada,” said Guererra. “And we want to show that there are women rock stars in this industry.”
BC Housing and CMHC have partnered to help finance the $54 million project and the city has waived development fees. The proposed development will be a 13-storey building with a mix of unit sizes. Guererra expects to have the development permit application filed this month and construction to be underway next year.
One of the keys to success is changing how municipalities are viewed.
“As much as we don’t want to believe it, municipalities are our partners and we can’t build without their green light,” said Guererra. “That’s the approach we take. We work to build those champions in government and that’s a really great first step.”
She added with more and more jurisdictions setting climate targets, addressing housing affordability and trying to combat inequality, having a development with a goal broader than profit will become a necessity.
“The cost of land in urban centres like Vancouver is going up, the climate emergency is increasing and this is a critical focus for everyone,” she said. “All these things mean we have to be really smart about development and I think the industry will have to build these priorities into every project. Many municipalities are already demanding it.”
She believes this makes Purpose Driven ahead of the curve.
“We need to get ahead of this because if not we will be dragged behind it kicking and screaming,” she said.
Guererra explained not only do socially responsible projects generate financial success, they are simply the right thing to do.
“I am a parent of young children,” said Guererra. “I want to live in a place that feels like I have done everything I can to build an environment that creates communities where we all can thrive. That means having places my kids and their friends can afford to live in the future. At a basic level that is the driver for me. We are all here for a short period of time and I want to leave a legacy in our built environment that will create a place where my kids and your kids can thrive. That drives everything.”
Officials in the U.S. have taken notice of Guererra’s approach. On Aug. 26 she will be speaking about Indigenous housing, climate-positive revitalization processes, and affordable housing for women at The Innovation Station: Mountain State, a virtual event hosted by the U.S. Department of State.
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