Local Economic Impacts

Mellody Farm | Chicago, IL | A Taste of Mellody Farm

Local Economic Impacts

Regency’s commitment to our communities includes investing for positive local economic impacts. When investing in property development, enhancement, and redevelopment we not only focus on creating an inviting environment for connecting merchants and customers, we look at how our properties generate jobs, improve traffic flow, provide green spaces and increase taxable income. These efforts are complemented by our grocers, restaurants, and other service providers that serve the surrounding neighborhoods.

To develop and operate best-in-class centers that provide benefits to the local economy, our efforts begin long before ground is broken and continue well after a center opens. For each project, we develop a stakeholder communication plan that ensures we cultivate strong and meaningful relationships with cities, municipalities, and local communities in the areas our centers are located. Being transparent and honest is incredibly important to those relationships, as is reaching stakeholders in the most appropriate forum. Our stakeholder communication plans guide the manner and content of our communications and ensure our goal of transparency is achieved. It is paramount that our communities are engaged appropriately and we maximize the value they receive. The plans also help ensure project timelines are smoother and quicker than they may otherwise be.

Given its importance, members of our Executive Committee and our Managing Directors are involved in such engagements. Each plays an important role when we engage with public officials and community representatives to ensure that we achieve our goals, conduct business and operate our centers in compliance with all applicable laws and regulations, and deliver longterm economic benefits to our communities while driving value creation.

2021 GOALS

 Maintain our commitment to creating local jobs and community value through investment in developments and redevelopments

Since the grand opening in 2018, Mellody Farm has become a place for the community to gather through onsite events.

In a time where we couldn’t hold in-person events, but connecting our merchants and communities was crucial, we developed digital experiences with a ‘pick- up supplies in-store and attend online mentality’. The collaboration with Kids Science Labs gave our merchants the opportunity to meet new families, and connect while maintaining safety.

Stephanie Parisi, Property Marketing Manager

To facilitate engagement our local teams host events to connect communities served by our centers with our retailers. In 2020, we found ways to do this that were COVID safe. Mellody Farm partnered with Kids Science Labs to host a ‘sold out’, family-friendly “Virtual Slime Lab” event. The private online Zoom session incorporated slime-making ingredients from ”science kits”, which were distributed free of charge to the first 100 families who registered for the event.