Shaping a City, Ithaca, New York: A Developer’s Perspective

At 320 Pages with 115 photographs, published by Cornell Publishing, an Imprint of Cornell University Press, you will find Shaping a City a fascinating behind the scenes look at why and how Ithaca, NY has grown from a mud flat at the head of Cayuga Lake to the successful miniature metropolis it is today. For Ithacan’s, it is our story, our history, starting in the early 1800’s, and focusing on the most recent 40 years of real estate development. For readers beyond Ithaca, it will become the roadmap for how to shape your own small town from a vacant, under-utilized cross-roads to a vibrant, dense, thriving and attractive small city, and possibly —like Ithaca as recognized in a score of national publications—, turn it into one of the “Best Small Cities in the country.”

This book is my story of financial survival as I began renovating old houses and went on to be selected by the City and Cornell University as the Preferred Developer for Collegetown. It is the story of City politicians building the Commons pedestrian mall on our main street in downtown in 1974, and then rebuilding it again from 2013 to 2015.

It is the stories of over a dozen major developers and their projects, which have contributed to the revitalization of Ithaca—John Novar, Jason Fane, Gus and Nick Lambrou, Andy Sciarabba, Bill Downing, Travis Hyde Properties, Schon  Bloomfield, David Lubin, Joe Daley, Marc Newman and Bryan Warren, John Guttridge, David Kuckuk, Neil Patel, and others.

It is the story of how a group of us salvaged Center Ithaca, the largest building in downtown out of bankruptcy, and how philanthropist Jeb Brooks; music producer Dan Smalls; and our company, Travis Hyde, with assistance from the Tompkins Trust Company and the Ithaca Urban Renewal Agency, saved the 1600 seat historic State Theatre, and the 200 year old historic Clinton House from foreclosure and certain demolition.

It is the story of Ithaca Neighborhood Housing and its significant role in creating affordable housing in our community. It is the story of Carl Haynes and the Tompkins Cortland Community College purchase of the M&T Bank Building for its Ithaca Campus and as a source of income for the College. It is the story of the creation of Coltivare, an upscale farm-to-bistro restaurant that serves as a training laboratory for the Tompkins Cortland Community College students. It is the story of why and how our oldest bank, Tompkins Trust Company, chose to consolidate its operations and construct a new 7-story office building downtown.

And primarily, it is the story of the BID, our local business improvement district, the Downtown Ithaca Alliance, for which I served as founding member and president. Our Executive Director, Gary Ferguson has guided us through the formation of two, ten year Strategic Plans that have been created by the stakeholders of downtown, based on professional feasibility studies, the findings of  retail and marketing consultants, and approved by the City Council.

We have recognized that it is arts, dining, and entertainment that drive downtown revitalization, and we have formed a Tax Abatement Program that stimulates downtown development. There is much to appreciate, and much to learn, as developers, city and county staff and representatives, local banks, and often local philanthropists, work together in a spirit of cooperation and collaboration to create what has been recognized as one of the Best Small Cities in America

City centers are an under-utilized resource in our country and I invite you to read my book, and learn how the principles and values developed in Ithaca and set forth in Shaping a City, can perhaps be replicated in your community.

 Featured event:

Join #CornellPress author Mack Travis for Gallery Night: Book Release for Mack Travis’ Shaping a City this upcoming December 7th, 2019; an event hosted by Downtown Ithaca & The History Center in Tompkins County.

SHAPING


 

About the author of this blog post: As one of Ithaca’s major developers, as one of the founders, and former president of Ithaca’s Business Improvement District, and as a frequent lecturer at Cornell’s Graduate Program in Real Estate, Mack Travis is uniquely qualified to write this 40-year look back at the people and projects that have shaped Ithaca.

Shaping a City, Ithaca, New York: A Developer’s Perspective

East Asia’s unicorn builders: different strategies in Hong Kong, Singapore and Taiwan

Unicorns are increasingly running the streets of East Asia. In fact, policymakers in Singapore and Hong Kong wave the flag of their first unicorns with pride and Taiwan is on track to have its own unicorn. I am not talking the mythical animals adorning children’s storybooks. In the world of start-ups and venture capital, since 2013 a “unicorn” is understood to be a privately-owned (technology) start-up that achieves valuations in excess of $1 billion. A unicorn is also a validation that a start-up ecosystem is succeeding, and a key performance indicator used by governments.

From myth to reality: unicorns in Singapore, Hong Kong and (soon) Taiwan

Singapore has unicorns inhabiting its island, with Garena, Lazada, and Razer all comfortably achieving $1 billion valuations. But the ever-active and promoting Singaporean state isn’t stopping there. On Monday, October 2nd, the Singaporean parliament approved the “variable capital companies” (VCC) bill in an effort to further project the Lion City’s position as leading destination for asset management firms, particularly venture capital funds, to domicile and operate. In explaining the power of the new VCC structure, the Bill will provide a mechanism for overseas funds to be constituted as Singaporean. The Business Times asserts that one of the benefits to Singapore is that it “enhances Singapore’s position as a full-service international fund management centre”. This is a time-tested strategy in the Lion City.

GoGoVan, a logistics company, excited Hong Kong start-up enthusiasts in September 2017 as it achieved unicorn status. Finally, Hong Kong – and its government – had something to show for the rising support of start-ups and innovation (and within two years of the promotion of the Innovation & Technology Commission to Bureau level status).

For Taiwan, in May 2018 an electric scooter company called “Gogoro” was being picked as the likely candidate. This unicorn excitement came as the Taiwanese government announced in early 2018 that it promised to incubate its first unicorn by 2020 (Japan made a similar promise, through its J-Start-up program which launched in June 2018, that it would help build 20 unicorns by 2023).

These unabashed efforts to build unicorns is not a new phenomenon. In The Venture Capital State: The Silicon Valley Model in East Asia, I detail how each country purposefully, but differently than one another, helped catapult its local VC market to world-class size and operations. They don’t copy the real or imagined Silicon Valley model either. Even the “core elements” of the American legal and tax environment within which Silicon Valley VC emerged were not deployed in each case. Here’s a visual of the unique “yellow brick roads to Oz” – or, policies implemented with the aim of building a local VC market akin to Silicon Valley:

SILICON VALLEY

Why variation amidst convergence?

Though each country had the same aim – of building a local VC market that could support the growth of its local unicorn population – they all took different paths. The phenomenon reminds me of the Seinfeld-inspired play “I love you, you’re perfect, now change”. Each country’s policymakers fell in love with the idea of building Silicon Valley-like venture capital markets. This, they concluded, was part of the recipe for creating innovative firms, as well as ensuring vibrant financial markets. But after falling in love with the model, they changed it.

The Venture Capital State systematically explores why and how this change occurred as it has in these East Asian nations. And crucially, it explains that this adaption has been essential to success in East Asia, as elsewhere. It’s not about copying Silicon Valley in order to build local unicorns. It’s about local competitive advantage and approaches that reflect distinct environments.


 

About the author of this blog post: Robyn Klingler-Vidra is a lecturer in Political Economy at King’s College London, and the author of The Venture Capital State: The Silicon Valley Model in East Asia

East Asia’s unicorn builders: different strategies in Hong Kong, Singapore and Taiwan

The reality of book sales (is an asteroid hurtling through space)     

In February, Publishers Weekly released data indicating that print book sales dropped 4 percent in 2017. The early-warning doomsdayers are looking skywards and believing they see an asteroid making its way towards the book publishing world. Perhaps. Although I don’t believe so. What I do believe, though, is that we’ve entered a new paradigm for book sales, particularly for sales of scholarly books.

cesar-viteri-426877-unsplash
Photo by César Viteri on Unsplash

If we consider recent data, it quickly becomes apparent that what was once true is no longer. Sales of individual titles are just not the same as they were five or ten years ago. The reasons for the drop are myriad, of course, and have been discussed over and over. To list just a few, libraries no longer purchase as many books, new types of courses that use non-traditional materials emerged, there’s a perceived aversion to print books from both students and younger scholars (although I’m not truly buying that one), and, of course, there’s the internet. And so on. Regardless of the foundational reasons, the reality is that what we all thought to be our baseline for sales on any given type of scholarly book has changed.

My study of books published in the last twenty-four months shows a drop of between ten and twenty percent in expected first-year sales (XFS) over books published in the previous twenty-four months. It’s a relatively small sample size, but it’s still indicative in a way, and will cause us to evaluate how best to approach sales projections in the next couple of years. What this little bit of analysis doesn’t show, is the three-year projected sales (or beyond). I’ll look at trends there in a coming blog post, but my hope is that we can overcome the drop in XFS over the longer haul through focused marketing and new techniques and technologies.

This reality check isn’t all doom and gloom. Sure, we’d all love sales to be ticking upwards at the same rate as they fall, but that isn’t happening. But the end of the (book publishing) world isn’t yet here and I have cause for optimism. These new real numbers will, if anything, push us to find efficiencies across the Press, and to look for the very best of all projects that have the biggest upside and show an XFS of n+25% (or some other wonderfully optimistic number). We’ll be forced to innovate, finding new and creative (and inexpensive or collaborative) platforms to use to help us boost sales. To borrow an oft-used phrase of a few years ago, we’re going to have to “git ‘r done.”

Having reworked the marketing team over the past six months, hired three new people, and developed a nascent marketing strategic plan, we’re well positioned to face the threat of diminishing sales. Our invigorated team is constantly brainstorming and experimenting. We’ve even invited our colleagues to sit in on open marketing meetings to see how we’re attempting to meet our challenges. New technology, integrated marketing approaches, and an openness to ideas from outside are all ways in which we will address the drop in sales of print books. We refuse to stick our heads in the sand like marketing ostriches. And though it’s no use pretending sales are what they were five years ago, it’s also not an excuse for sitting back and waiting for the asteroid to come crashing from the sky.

 

Related article on the topic: “Three experts share publisher expectations for 2018”

Recommended watch:

 

About the author of this blog post: Martyn Beeny is the Marketing Director at Cornell University Press. He has the crazy idea that we’re here to sell books. You can follow him on Twitter @MartynBeeny

The reality of book sales (is an asteroid hurtling through space)     

Ithaca is trending. What does clothing have to do with books?

A few days ago, Ithaca hosted its first Fashion week and as I strolled downtown, I encountered all sorts of enthusiastic fashionistas. Two women were sketching designs with chalk on the sidewalk, a runway rehearsal was happening at Dewitt Mall, and I thought people in general looked quite stylish. But what does clothing have to do with books?

Casanova_ButtonedUp copy

When it comes to men’s fashion and the workplace, the research presented in Buttoned Up, by author Erynn Masi de Casanova, can help understand this relationship. Casual Fridays is an institution, telecommuting is sometimes the rule, and a decrease in formal dress codes is evident. And even though many workplaces now encourage a business casual dress code, men high on the food chain tend to prefer the traditional two-piece suit. The Boston Globe pointed out that the homogeneity in men’s work attires throughout decades shows this conformism. So why do men feel constrained in their choices about how to look professional?

Masi de Casanova interviews dozens of men in three US cities with distinct local dress cultures—New York, San Francisco, and Cincinnati—and asks what it means to wear the white collar now. Her findings suggest that, aside from recent changes in gender expectations, the suit lingers as a symbol of status, gender, and class privilege.

The Conversation argued that “stereotypical men, especially older men, are thought not to actively engage with fashionable clothing.” And regardless of the incipient niche market that seem to be willing to challenge this assumption, a quick peek into the most well-known fashion shows can prove that the target for male fashion garments is overwhelmingly, young men.

Finally, the Harvard Business Review asked the crucial question: What happens when men don’t conform to masculine clothing norms at work? It turns out that when picking out an outfit, most men fear that crossing gender boundaries and traditional clothing norms will pose identity dilemmas and ultimately, lead to conflict.

All in all, men are happy to strategically blend in when it comes to dressing up for a job, the freedom provided by the business casual code resulting in anxiety. So how can we turn the tables? How to foster workplaces that allow for their male employees to express themselves, and how to get rid of traditional ideas of masculine power? Buttoned Up provides with an interesting insight into men’s feelings and explains why when at work, they embody the idea that “fashion is not really for us”.

Check out the latest review for this book!

Recommended watch for this post: Dr. Ben Barry’s “The Refashioning Masculinity Project”:

 

About the author of this blog post: Adriana Ferreira is the Social Media Coordinator at Cornell University Press. She is originally from Uruguay and often wonders how she ended up in Upstate New York. Her dream is to own an ice-cream shop. She doesn’t have Wi-Fi at home.

 

Ithaca is trending. What does clothing have to do with books?

Doc Martyn’s Sage Marketing: Disrupting the Workflow

Creativity

Recently, we spent two and a half hours in a marketing meeting. Yes, that’s right, 150 minutes. We spent that time brainstorming, discussing, agreeing and disagreeing, planning, posing problems and finding solutions, and much more. We didn’t go into the meeting with a plan to spend that amount of time, it just organically occurred, and it was worth every minute. What we didn’t do in that time was our usual work. We disrupted our workflow, and the marketing team (and by extension the rest of the Press) is better as a result. Continue reading “Doc Martyn’s Sage Marketing: Disrupting the Workflow”

Doc Martyn’s Sage Marketing: Disrupting the Workflow