NAREB DEVELOPMENT ACADEMY TRAINS 227 EMERGING DEVELOPERS TO BOLSTER HOUSING CONSTRUCTION
Graduates Present Their Innovative Ideas to Shark Tank Panel of Experts
LOS ANGELES, CA – RealEstateRama – The National Association of Real Estate Brokers (NAREB) proudly graduates 227 emerging developers from the NAREB Developers Academy on Tuesday, as the organization of Black real estate developers, known as Realtists, seeks to increase production of much-needed housing in communities nationwide.
On Sunday, at the academy’s closing session, participants, many of whom are already real estate professionals, presented their innovative ideas in a Shark Tank environment, where a panel of esteemed judges critiqued their work. The proposed projects are designed to increase housing supply, revitalize neighborhoods, enhance quality of life, and create sustainable, inclusive living spaces.
“We witnessed groundbreaking proposals that will have a significant impact on communities,” said NAREB President Dr. Courtney Johnson Rose, who made launching the Academy one of her top priorities during her two-year reign as NAREB’s president. “The next step is for these brilliant entrepreneurs to obtain funding for their enterprises. We are calling on philanthropic, private sector, and government leaders to support these developments that will enhance the quality of life for families and individuals struggling to find safe and affordable housing.”
Evaluating the proposals were Gina Nisbeth, 9th&Clinton Strategic Advisory Firm; Paul MacFarlane, MacFarlane Partners; Tamara Newman, Everland Solutions; Tiara Henderson, Managing Director, Corporate and Investment Banking, Wells Fargo; David Bowers, Vice President, Mid-Atlantic Market, Enterprise Community Partners; Patrick Jordan, Herron Consulting; Tammy Wilson, TSW Consulting; and George Johnson, George E. Johnson Development, Inc.
The Academy is a transformative initiative that is reshaping the real estate development industry. It addresses the pressing need for increased representation from community-based planners and builders, offering new housing opportunities for underserved communities. With only 447 Black development firms out of 112,000 in the United States, less than half of 1%, the Academy is a catalyst for change. Moreover, a Grove Impact report identifies the hurdles faced by community-based estate developers, including revenue gaps and cliffs, and the Academy is stepping up to bridge these gaps.
Dr. Rose asserted that by equipping aspiring professionals with the skills, knowledge, and opportunities to become developers, the Academy fosters economic equity, increases homeownership rates, and uplifts underserved communities. Through a rigorous curriculum, strategic partnerships, and a community-focused approach, the Academy is creating a sustainable pipeline of real estate developers poised to make a lasting impact.
“At a time when communities across the country face an urgent housing crisis, we need all hands on deck to build more affordable housing,” said Bowers, of Enterprise Community Partners, a non-profit working to increase housing supply and build resilience and upward mobility for families and individuals.
“That’s why Enterprise is so proud to team up with NAREB once again–this time reaching more than 200 Realtists nationwide,” said Bowers. “From training the trainers for the NAREB Developers Academy to working directly with the LA cohort formed in response to the devastating fires, this collaboration is about more than education for Enterprise. It’s about attracting more mission-driven developers to the field, thereby strengthening communities and the industry as a whole. We salute NAREB’s service-oriented leadership and our training partner Heron Consulting for this impactful work together.”
Dr. Rose said NAREB is also expanding the ecosystem for community-based developers by launching the NAREB Development Fund, a Community Development Financial Institution (CDFI). These financial institutions are mission-driven entities that create economic opportunities for individuals and small businesses, affordable housing, and essential community services. The NAREB CDFI will be a reliable partner for developers, providing the necessary support to bring meaningful projects to fruition.
In celebrating the importance of developers, during its 77th Annual Conference at the JW Marriott Hotel in LA Live this week, NAREB is awarding its 2025 Impact award to renowned developer Victor MacFarlane, the executive chairman of MacFarlane Partners, a major LA-based development and investment firm. As an investment management firm, MacFarlane Partners acquires, develops, and manages real estate assets on behalf of some of the world’s largest pension plans and institutions. Their projects are located in Los Angeles, San Francisco, Washington, D.C., and many other areas.
Contact:
Michael K. Frisby
