AI Summary
The provided text is a case study from the Saïd Business School at Oxford University, exploring the redevelopment of the Spofford Juvenile Detention Center in the Bronx, New York. The case focuses on the negotiation between Eric Clement, a finance expert working for the New York City Economic Development Corporation (NYCEDC), and a consortium of developers who were awarded the contract for the project. The case study examines the challenges and opportunities of using financial acumen to achieve social impact through a mixed-use affordable housing development project. It highlights the tension between seeking commercial returns and ensuring the project meets the social objectives of NYCEDC, ultimately illustrating how impact investing can be implemented within a complex public-private partnership.
