Vincent Bennett manages all the development for McCormack Baron Salazar – a company that has revitalized urban communities in 40 cities and 23 states for a total development investment of $3 billion.
His position as chief operating officer means lots of supervising designs and contracts, but his most essential skill in his role is “being an active listener,” he said. He needs to be able to listen to what the residents envision for their communities in order to make those ideas a reality. And that goes for everyone on his team as well.
“We believe in urban American, in urban living,” he said. “Everyone – to the core – believes that family and children of all different races and income levels can live together in a quality building community. We bring folks into the company who believe in the importance of the urban environment and diversity of the communities we work in.”
On November 14, Bennett will receive the 2014 Corporate Executive of the Year Award at the St. Louis American Foundation’s 15th Annual Salute to Excellence in Business Awards & Networking Luncheon. The event will be held at the Four Seasons Hotel St. Louis, networking reception at 11 a.m., luncheon program at noon.
In the company’s research, the most successful neighborhoods are those that have diversity – and that is what drives the company’s mission.
That’s also what attracted Bennett to the firm in 1993. Before then, he managed economic and commercial development in Pittsburgh for the non-profit group Homewood/Brushton Revitalization. He met his partners through his work in Pittsburgh.
“I never thought I would work for a for-profit company,” he said, “but there seemed to be interesting synergies in terms of the type of work McCormack Baron was doing.”
At the firm, Bennett specializes in public housing transformations (HOPE VI) and large-scale neighborhood master redevelopment efforts. The company’s total HOPE VI Development Investment is $1.6 billion , resulting in 8,378 HOPE VI homes.
One of those projects was the North Sarah II redevelopment – 103 new apartments and 6,400 square feet of retail. The site is north of Delmar Boulevard – a street that is historically known for marking the divide in wealthy and impoverished neighborhoods in St. Louis’ central corridor. The redevelopment hoped to narrow the income gap and racial segregation of the “Delmar Divide.” The project had its grand opening in July.
Before the project got off the ground, Bennett said it took about a year of meeting with neighborhood leaders and residents to “mesh the financial realities with the vision.” And in that process, there was much constructive debate and “good healthy dialogue.”
“The residents input helped bring shape to the product,” he said. “We couldn’t do it without sitting at the table and being very active listeners. We bring our experiences from across the country.”
In all the projects, he said, they specifically avoid a “wholesale replacement,” a strategy of buying out old residents that many developers use. The firm tries to create neighborhoods of opportunity with new and old families of different incomes.
“There is tremendous investment in green infrastructure,” he said, including storm water management, bio soils and community gardens. They also partner with the local nonprofit Urban Strategies to come up with a “human capital plan,” which includes mapping out schools and health clinics.
“The brick and mortar are just a piece of it,” he said. “We want to know how can families be successful in the redeveloped environment? We put a lot of attention to green space, safety and security. If we come into a city, we are technicians. But we want the fabric of development to reflect the community itself.”
Bennett is on the Board of Big Brothers/Big Sisters of Eastern Missouri and a commissioner of the St. Louis Metropolitan Taxi Commission. He received bachelor degrees in economics and psychology from the University of California in Santa Cruz and a master’s degree in management and public policy at Carnegie Mellon University.
Although honored by the award, he made sure to recognize his team for their efforts.
“I don’t normally accept individual awards because I’m a strong believer in the team and the collective,” he said. “It’s not about me. It’s about everybody who has touched and felt and put fingerprints on something.”
The 15th Annual Salute to Excellence in Business Awards & Networking Luncheon will be held Friday, November 14, 2014 at the Four Seasons Hotel St. Louis, networking reception at 11 a.m., luncheon program at noon. Tickets are $100 for VIP/Preferred seating, $75 for general admission. Call 314-533-8000 or visit www.stlamerican.com for more information or to purchase tickets.
