According to a 2019 report from the Urban Land Institute, a nonprofit research and education organization for real estate and land use experts, 5% of its U.S. members are Black and 82% are white, though Black people represent more than 13% of the U.S. population. This disparity translates into a lack of diversity at the project development level that can subsequently exclude developers of color from working on meaningful and lucrative housing deals as cities expand.
This accelerator program is a two- year, part-time professional development program— offered free of charge to participants—to foster the careers of emerging real estate developers of color and to lower barriers to getting real estate projects off the ground. To implement the program and ensure participating developers remain the key customers, we’ve worked with local partners in each region to implement the program, including LISC in the Puget Sound region, Capital Impact Partners in the Arlington, VA/Washington D.C. region, and the Urban League of Middle Tennessee in the Nashville, TN region.
In-person classroom instruction on real estate fundamentals, affordable housing trends, public policy, and financing best practices.
Business advisors to provide insights in navigating the real estate industry and development projects.
Professional networking opportunities with industry leaders, researchers, and established real estate developers.
Access to capital for pre-development expenses, such as architectural and engineering costs; permitting, survey, and site-planning fees; and market and feasibility studies.
Due to an overwhelming number of applications in our Arlington, Virginia/Washington D.C. and Puget Sound communities, Amazon Housing Equity Fund will temporarily pause accepting applications from those regions until Q1 2023. The application portal for projects in the Nashville, TN region will remain open for submissions during this period.