ULI, City of Denver Aim to Increase Diversity in Real Estate Development

ULI, City of Denver Aim to Increase Diversity in Real Estate Development

Applicants Sought for New Real Estate Diversity Initiative

The Urban Land Institute, Colorado District Council (ULI Colorado) is partnering with the City and County of Denver’s Office of Economic Development to help increase awareness of opportunities in the real estate development industry among women and minority groups. Realizing that just 1.8 percent of ULI’s membership consists of minority groups, and only 20 percent are women, the organizations have created the Real Estate Diversity Initiative (REDI).

Supported by a $20,000 Community Action Grant from the ULI Foundation, the initiative will involve 40-50 participants who will be partnered with ULI mentors – local developers – for nine months to learn firsthand what development entails. The groups of eight to 10 protégés will meet monthly with mentors, either at the developer’s office or on the site of one of the company’s projects. The mentors will present, discuss and demonstrate real estate development concepts. The program exposes the protégés to options for getting involved in real estate development. It is part of ULI’s national Diversity and Inclusion program headed by Phil Hart, a Denver native, who works in ULI’s Western Region Office.

Local industry leader Peter Chapman, ULI Colorado’s urban advisor, championed the program. “This is our first step in exposing minorities and women to a branch of real estate that is traditionally underrepresented. Participants in this program can explore many different aspects of development from financing to construction management.”

The application process involves completing a detailed questionnaire about the potential participant’s background, knowledge and experience in the industry and goals for involvement in the program. The cost for participants is $100, and those selected must commit to 100 percent participation which includes one meeting each month with the mentor and other participants. Upon completion each protégé receives a certificate of completion, and membership in ULI Colorado where they may enhance their knowledge and participation in the industry through programs and networking opportunities.

“We’re excited to drive efforts at increasing diversity within Denver’s real estate development community,” said Tamela Lee, OED director of small business advocacy and support. “We expect a strong response to this program, which complements the City’s efforts of increasing the number of minorities involved in the construction side of development.”

Applications may be found here. For additional information about REDI contact ULI Colorado at 303.893.1760 or the Denver Office of Economic Development at 720.913.1542. Applications may also be picked up at the Business Assistance Center in the first floor of the Wellington E. Webb Municipal Office Building, 201 West Colfax Avenue. The application deadline is April 24th, and can be submitted to: dsboapplications@denvergov.org.

With nearly 1,400 members, ULI Colorado is one of ULI’s largest District Councils. ULI Colorado engages its members to help them build their careers and participate in their community through leadership and responsible land use. In the past year alone, 25 ULI committees have attracted 250 volunteers and developed programs attended by thousands. Our Young Leaders Group (YLG) is over 400 strong with a full plate of monthly educational and social programs.

The Denver Office of Economic Development (OED) is dedicated to advancing economic prosperity for the City of Denver, its businesses, neighborhoods and residents. Working with a wide variety of community partners, OED operates to create a local environment that stimulates balanced growth through job creation, business assistance, housing options, neighborhood redevelopment and the development of a skilled workforce.

Posted on Wednesday, April 15, 2009 (Archive on Monday, January 01, 0001)
Posted by kpellegrin  Contributed by kpellegrin