Little more than 12 months into the role of Chairman of Logan City’s property and investment arm investLogan, Steve Greenwood is showing how rigorous corporate governance and strategic financial management can co-exist with a focus on community benefit and social dividend.
As the person at the helm of investLogan, Steve Greenwood has been the driving force behind the innovative model, which sees the organisation work alongside the Logan City Council to identify and deliver property development projects which provide financial and social benefits for the Logan community.
Mr Greenwood is also the founder and CEO of Queensland Futures Institute, sits on the Interim Management Committee for Ipswich City Council and was Queensland Head of Property Council Australia for three years, all of which makes him well equipped to lead investLogan.
Mr Greenwood said growing up in regional Queensland had instilled in him a passion for regional Queensland.
“I grew up in regional Far North Queensland, and previous roles in agriculture and government have shown me the importance of equipping our regions with investments that promote financial returns, but more importantly, social returns,” Mr Greenwood said.
“My career has shown me the value of the investLogan business model, which provides the City of Logan with an investment arm that can act independently and, in the public’s best interest.
“The government can’t do everything, so investLogan’s business model is to provide support through managing and delivering investment and development opportunities.
“We are able to undertake activities that the council couldn’t, to deliver dividends, social benefits and economic growth.”
Mr Greenwood said investLogan was also able to undertake projects that developers could not.
“Although investLogan is a for-profit business, there are cases where we can reduce our profits for the sake of social benefit, and that is something developers wouldn’t, or couldn’t do,” he said.
“For example, the NDIS community house we are delivering in Marsden has been designed for community benefit first and foremost.”
Mr Greenwood believes investLogan’s key driver of collaboration will continue to open significant opportunities for the Logan City Council and the broader community.
“There are major landowners around Logan, including state agencies such as universities, TAFEs and health precincts.
“There is a lot of potential for growth through new partnerships and collaborations, which have not yet been pursued.
“Collaboration is the main way we operate, and we partner with local businesses, charities and individuals wherever we can, because that is how we maximise growth opportunities.”
Mr Greenwood said investLogan would continue to explore property development opportunities, but the board was looking to shift into broader investment activities as well.
“The five-year vision is to deliver a range of diverse and innovative property outcomes, and to continue to work closely with council to deliver social community infrastructure.
“We make no apologies for our plan to generate significant financial return for our shareholder, which will in turn, directly benefit the Logan community.
“The support investLogan receives from the Council is critical, and we are keen to see this relationship mature.”