The reasons are classic. However, there is a new genesis of possibilities. Local activists want to partner with the private sector - if and when they are convinced that there is capability and sincerity. Included in these opportunities are small and large grocery stores, buildings for redevelopment, affordable and market-rate residential, retail, entertainment and the full plethora of real estate uses which promote community economic development. This can benefit the community faster and more profitably - a profitability which can be shared.
Real estate is far more than giants dueling each other for larger portfolios of properties.
It is also the purposeful strategy of creating and encouraging business enterprise in an area that is close by and can be managed by conscientious professionals who want to make money while doing great good for humans. That is when nobility happens.