The basketball hall-of-famer and former point guard for the LosAngeles Lakers has made headway into inner-city markets throughJohnson Development Corp., of which he is chairman and CEO. TheBeverly Hills, CA-based firm has built mixed-use centers andoperates 117 Starbucks franchises, six movie theaters, 12 24-HourFitness Clubs and 32 Burger Kings, as well as various otherventures.

What most developers don't understand is that there is $1.6trillion of spending power in urban and minority communities,Johnson said. "We've got the spending power, and we've got feweroptions," he said. "What urban America wants is quality and bigbrands to come into our community."

Tips that Johnson offered for developers wanting to break intourban areas include finding a local development partner, listeningto community leaders for feedback and investing in charities orother local organizations. "You have to talk to your community andfind out what they want," he said. "Just don't come to take moneyand not leave any money."