With an ever-increasing population, our farming resources will eventually become constricted and farms will need to produce larger quantities of food, and do it using less land. One solution to this problem that is gaining momentum right here in New York City is sustainable urban agriculture. Home grown companies like Gotham Greens and BK Farmyards are proponents of urban agriculture, which take advantage of the cultivation potential in backyards, rooftops and vacant lots. These smaller, localized growing plots reduce fossil fuels by cutting the distance that fresh produce has to travel to reach the city, and eliminate many of the barriers associated with farming, like multiple acres of land and expensive farming equipment.
A growing concern in this industry, though, is capital, which is where Janine Yorio of NewSeed Advisors comes in. An investment banker with a background in real estate, Yorio sought to extend her savvy to urban farmers seeking land for small-scale farms. She founded NewSeed Advisors in 2009 to bring needed capital to companies furthering sustainable agriculture efforts. The fund works closely with government small-business start-up programs and regional business development groups to put investments together.
This an exciting opportunity for real estate professionals because, as these organizations and companies continue to grow, they will need to find land and/or properties with which to work. Gotham Greens is currently working on its first project, a rooftop farm in Jamaica Queens. The food they grow will be sold to Whole Foods markets across the city, and a portion is also set aside for sale within the community. And starting in 2010, the organization will begin development of another rooftop farm in Greenpoint, Brooklyn. Meanwhile, over at BK Farmyards, they are looking to expand their venture beyond backyard farms to larger lots, both public and private. They even have a map on their site detailing locations of interest.
If you’re interested in the possibilities of the urban agriculture movement here in NYC, on January 13th, NewSeed Advisors will be hosting a Agriculture 2.0 Happy Hour, a gathering of professionals working to create more sustainable agriculture and food systems. Attendees hail from investment and consulting firms, farms and green markets, universities, food-related non-profits, food manufacturers, retailers, and restaurants. This could be a great networking opportunity for any real estate professional looking to establish contacts in an expending niche industry.
*Source: Forbes.com