Place-based management models encourage collaborative, holistic, and integrated approaches to preserving a neighborhood’s physical, cultural, and social environment. In contrast to traditional top-down redevelopment approaches led by local governments or developers, place-based approaches are often spearheaded by community-based organizations that use bottom-up strategies to understand and address the needs of residents and small businesses.

Place-based initiatives can transform underinvested areas by implementing development that is guided by neighborhood small businesses, residents, and other stakeholders. These initiatives often tailor services to the needs of small businesses and provide comprehensive support programs for entrepreneurs of color. Place-based models upgrade the physical infrastructure of commercial corridors through placemaking and beautification projects.