Prepared by Brady Mick, Strategic Design Leader, American Structurepoint
At the recent CoreNet Global Indiana/Kentucky/Ohio (IKO) Chapter event in Columbus, Indiana, one recurring theme stood out among the discussions: the growing importance of corporate responsibility in urban planning and how it directly shapes the future of cities. Panelists from Cummins, CNO Financial Group, Humana, and other organizations explored how corporate real estate decisions go beyond financial returns, influencing the health, sustainability, and vibrancy of urban environments. The unexpected insights from this conversation made it clear that companies need to prioritize long-term community impact over short-term gains in real estate strategy.
Moving Beyond Profit: Corporate Investments in the Future of Cities
Historically, many corporations have viewed real estate as an operational necessity, focusing primarily on optimizing space for employees and minimizing costs. However, the panelists emphasized that this mindset is no longer sufficient in today’s rapidly evolving urban landscapes. Companies are now being called upon to make real estate decisions that have lasting community impact—and those who do are discovering a broader range of benefits.
Ignacio Errazuriz, America’s real estate leader at Cummins, provided an insightful perspective on the company’s role in community development. Rather than viewing real estate solely through the lens of profit, Cummins has long understood the importance of investing in the vitality of the cities where it operates.
"Our approach has always been about more than just fulfilling our own needs," Errazuriz said. "By investing in the spaces around us, we create thriving urban centers that enhance the quality of life for everyone."
This approach reflects a broader understanding of how corporate real estate decisions influence not only the business but also the social fabric of a city. Errazuriz emphasized that this long-term vision has helped Cummins strengthen its ties with the community and attract top talent, demonstrating that corporate responsibility in urban planning is not just good ethics, it is good business.
Corporate Responsibility as a Driver of Brand Strength and Sustainability
One of the most interesting insights from the discussion was the recognition that corporate responsibility and urban engagement are powerful drivers of brand strength. For many companies, investing in their communities not only boosts their public image but also enhances employee loyalty, consumer trust, and long-term sustainability.
Andrew Urban senior vice [KR1] [MB2] president from Colliers shared a unique perspective, focusing on how cities and companies are increasingly intertwined.
"In today’s world, the health of a city and the success of a company are more connected than ever," Urban explained. "A vibrant city attracts top talent, and a strong corporate presence can help sustain that vibrancy. It’s about creating a positive feedback loop."
This sentiment was echoed throughout the event, with panelists agreeing that corporate real estate strategies must now account for their impact on the broader community. Investing in urban growth, sustainability, and quality of life helps build stronger brands that are more deeply embedded in the fabric of the city.
The Role of Mixed-Use Developments in Building Stronger Communities
A key theme that emerged from the discussion was the growing importance of mixed-use developments in urban planning. As cities evolve, companies recognize that single-use office buildings are no longer sufficient to meet the needs of their employees and the broader community. Instead, mixed-use spaces—which combine residential, retail, and office components—are becoming critical to urban renewal efforts.
Matthew Woodruff, vice president of facilities at CNO Financial Group, spoke about how the integration of mixed-use developments into urban strategies is transforming Carmel, Indiana.
"We’re looking at ways to ensure that our real estate not only meets our needs but also contributes to the community," Woodruff said. "Mixed-use spaces allow us to do that by creating environments where work, life, and leisure are seamlessly integrated."
This concept of blending different uses within a single space is vital to keeping urban centers vibrant, particularly as the demand for traditional office spaces decreases in the wake of hybrid work. Mixed-use developments help cities stay relevant by accommodating a wider variety of needs.
Long-Term Thinking: Community Engagement and Sustainable Growth
One of the most striking takeaways from the event was the emphasis on long-term thinking in corporate real estate. Rather than focusing on short-term financial returns, companies need to look at the broader impact of their decisions on the community, the environment, and the city’s future.
Chad Babin, director of space and occupancy strategy at Humana, highlighted how companies are rethinking their approach to urban planning in a post-pandemic world.
"It’s not enough to just downsize our offices and walk away," Babin explained. "We need to think about what happens to the spaces we leave behind and how we can work with the community to repurpose them in a way that benefits everyone."
This long-term perspective is crucial for companies that want to remain relevant and sustainable in today’s rapidly changing world. By collaborating with local governments, developers, and the community, businesses can ensure that their real estate strategies contribute to the city’s resilience and adaptability, even in the face of challenges like hybrid work models and economic shifts.
Corporate Responsibility as a Catalyst for Urban Renewal
The CoreNet Global IKO Chapter event underscored that corporate responsibility is not just about philanthropy or public relations—it is about actively participating in the growth and renewal of urban spaces. Companies like Cummins, CNO Financial, and Humana are proving that when businesses invest in the health and vitality of their cities, they reap long-term rewards, both in terms of community goodwill and business success.
By partnering with local governments, embracing mixed-use developments, and focusing on sustainable growth, companies can play a pivotal role in shaping the future of cities—ensuring that urban environments are not just functional, but thriving and inclusive.
The New Mandate for Corporate Real Estate
The panelists made it clear: corporate real estate decisions can no longer be driven solely by cost-saving measures or immediate financial returns. Companies need to think long-term, prioritizing community impact, sustainability, and urban engagement. By doing so, they help create cities that are not only attractive to businesses but also to the residents who live and work there.
For corporate leaders, urban planners, and developers, the message is clear: Corporate responsibility is the new foundation for successful urban planning. It is no longer enough to build for profit alone; businesses must build for people, ensuring that their investments contribute to the greater good of the communities they serve.
This approach to real estate—rooted in community engagement, sustainability, and long-term thinking—is not just the right thing to do. It is the key to building stronger cities, stronger brands, and a stronger future.
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[KR1]I would add his title. You used a title for your other expert Ignacio Errazuriz. I Googled Andrew Urban and found he is a senior vice president