Innovation

Green Coast Enterprises' innovation appears to be their focus on and strategy for approaching the so-called “triple bottom line,” which aims to sustainably increase profit by benefiting the people in surrounding communities as well as the environment. The company keeps an almost “human” element alive and well by working with community members in the areas which it is present in to forge economic well being, social equity, and environmental consciousness for the benefit of everyone.

The population of New Orleans and the surrounding Gulf Coast has been slow to recover from the mass emmigration caused by Hurricane Katrina. This has damaged the economy and contributed to a growing number of historical buildings and properties being left vacant and in disrepair. A special focus on and approach to helping people, saving the planet, and generating profit has helped to bring new life into communities struggling to stay viable by introducing a “fresh breath” to old and iconic buildings. This helps foster a sense of community because the old is integrated into the new as opposed to being completely erased. Whereas many firms would simply demolish old structures to put up some shiny new architecture, Green Coast Enterprises is attempting to breathe new life into old, familiar buildings in order to preserve and foster the regrowth of communities shattered by past disasters.

Community Green @ Washington and Broad, one of GCE's properties.

Inspiration

Green Coast Enterprises exists to help the environment and coastal communities along the US Gulf Coast. According to CEO Jackie Dadakis, “[e]very employee is here because we share the mission of helping to save the planet. Our corporate culture hedges on being ahead of other companies in innovation, which drives us to continue looking for opportunities for renewal.” The founder of the company, Will Bradshaw of Texas, initially founded the company as a real estate development firm focused on revitalizing declining coastal communities, but the company eventually grew to provide consultation services to other companies looking to become more energy efficient and positively impact the fight against climate change. To put it simply, according to Ms. Dadakis, “We want to live on the coast and the coast to still exist. When we started developing 13 years ago, we found this niche which needed a fight against climate change in order to save.” Anyone familiar with New Orleans and the greater Gulf Coast region is aware of the warm, charming, unique character which permeates the culture of the city and region as a whole. The team at GCE recognized the importance of helping communities to retain and preserve this culture: “We spent time getting to know the community and focused on relationships with small local businesses,” said Ms. Dadakis, “Affordability is integrated into each project so that maximum access is available to companies of all sizes looking to take residence in buildings. Big box retail is shrinking, so it is important for Main Street retail (which is thriving) to have suitable, attractive venues to be located in.”

Overall impact

Green Coast Enterprises was founded in 2007 and has been a company for thirteen years. In that time, they have helped develop over $200 million of properties in New Orleans, including over 2,000 housing units. They have also built 124 housing units and over 80,000 square feet of commercial space with a project pipeline that will double their current holdings in the next three years. Their bailiwick is revitalizing otherwise unused properties in urban areas which are in need of community renewal in the Southeastern United States. Special attention is given to coastal areas that have been threatened by climate change and working with small, local businesses and community members to pursue common goals of community renewal and environmental friendliness. Ms. Dadakis says that the company’s innovative approach to the “triple bottom line” has helped it to fill the niche first identified by the form’s founder in 2007, and that approach has driven the company to ever-greater heights: “It is always hard to be the first to do something, but we have created value in formerly neglected properties by revitalizing them to invest in planet and people,” and that has helped to foster a sense of community in areas where economic recovery post-Katrina has been slow to stagnant.

Business benefit

Green Coast Enterprises is a Stage Three Certified Green Business which means that there is a high level of commitment to community involvement, social equity, and resource conservation. This organization develops real estate and provides real estate service to urban and coastal areas in need of community renewal. Green Coast Enterprises pursues opportunities that address community needs, including social inequity and economic stagnation, and seeks to foster strong relationships with tenants and neighbors. They also develop partnerships with public, private, nonprofit, and community organizations to further their common goals.

Green Coast Enterprises has four different properties around the city with one additional deal just closed, and further growth is anticipated in the near future. They have a market called Pythian Market which is a “food hall for all,” an apartment complex named The Greenway Apartments, a small strip mall named Community Green @ Washington and Broad, and a multi use building used for health, wellness, food, music, and more named the Pythian Building. All of the properties that they have now are properties that were already built. The organization prides itself on creating safe spaces for the community to enjoy out of buildings that were otherwise not being used.

Social and environmental benefit

The populations of both New Orleans and the surrounding Gulf Coast have been slow to recover from the mass emigration caused by Hurricane Katrina. This has damaged the economy and contributed to a growing number of historical buildings and properties being left vacant and in disrepair. The focus on people, planet, and profit has helped to bring new life into communities struggling to stay viable by introducing a “fresh breath” to old and iconic buildings. This helps foster a sense of community because the old is integrated into the new as opposed to being completely erased.

Green Coast Enterprises focuses on revamping old, unused buildings as opposed to tearing them down and building new ones, which helps to make the cities and communities in which it operates more sustainable as well as more responsible in terms of consumption and production. GCE takes climate action in several ways, such as by offering sustainable energy management to large commercial companies, by ensuring that all of its affordable housing projects are energy efficient and environmentally friendly, and by offering consultation to help property managers identify positive measures that can be taken to reduce utility expenditures and environmental impact, all while maintaining and even increasing comfort. The company strives to reduce inequality by offering affordable housing properties to areas in need of economic stimulation and working with small businesses to help them grow.

Interview

Jackie Dadakis, Chief Executive Officer