Dallas-based Innovan Neighborhoods announced that 15 community-oriented developers have been selected for the inaugural cohort of the Community Developers Roundtable to support the creation of more affordable housing and accelerated revitalization in underserved communities in Dallas.
The program features a projected $1 million dedicated pre-development fund, staff capacity stipends, and financial resources for technical assistance, including professional coaching and project feasibility studies.
Launched to address gaps in community development
The Community Developers Roundtable (CDR) was launched by Maggie Parker of Innovan Neighborhoods to address gaps in the community development ecosystem by offering a long-term, developer-led structure with ongoing feedback and accountability to community-oriented development projects, Innovan said in a statement.
The CDR is in collaboration with BCL of Texas with funding support from JPMorgan Chase. Other funders include Tolleson Wealth Management, Bank of Texas, Communities Foundation of Texas, United Way of Metropolitan Dallas, Charles Schwab, Muse Family Foundation, the State Fair of Texas, and Comerica Bank.
The Community Developers Roundtable will serve as a collective learning, networking, and funding opportunity for existing diverse nonprofit and for-profit community-oriented real estate developers, Innovate said.
Members of the inaugural cohort
- Jasmond Anderson, JASZ Studio
- Queenetra Andrews, Andrews Development & Holdings LLC
- James Armstrong, III, Builders of Hope Development Corp.
- Valerie Ballard, Operation Tiny House
- Jason Brown, Dallas City Homes
- Demont Campbell, Urban Nest Development
- Jordan D’Silva, Web City Properties
- Annie Evans, SouthFair Community Development Corp.
- Ferrell Fellows, Kingdom Legacy Development Co.
- Marc Henderson, Exodus Development Group
- Patrice Jefferson, SDMC Investments, LLC
- Olga Lopez, CIMA Holding Group
- Scottie Smith II, Shekinah Legacy Holdings
- Jay Taylor, Juxta Developments
- Brandon Ward, Bidgigz LLC
Participants have deep construction and rehab experience
In total, the cohort participants have constructed or rehabbed more than 430 single-family units, completed 24 small/mid-size multifamily projects, and 25 commercial retail projects, Innovan said. The participants have more than 500 single-family units, 230 multifamily units, and nine commercial real estate projects in their collective pipeline.
Innovan said that Dallas has an increased need for diverse developers to lead revitalization throughout the city, and the program is meant to meet that need.
“We can learn different ways of thinking that will open new doors and possibilities. We want to have equal opportunities to capital, contracts, and build generational wealth while solving for and improving community success,” Olga Lopez, CDR participant and CEO/founder of CIMA Holding Group LLC, said in a statement.
Initial session was held on November 3
The initial session of the CDR was held on November 3 at the offices of The Beck Group in downtown Dallas. Participants heard from Printice Gary, founding partner and CEO of Carleton Residential Properties, Jeff Forbes of The Beck Group, and industry experts Steve Goldin and Jay Haigler.
“Being included in this group of amazing developers and real estate professionals will not only help me scale and build capacity as a developer but also help me expand my reach and impact in the South Dallas Community that I serve,” said Scottie Smith II, CDR participant and CEO of Shekinah Legacy Holdings.
The CDR will meet monthly through June for eight sessions and includes two additional networking events.
Innovan Neighborhoods was founded in 2019
Innovan Neighborhoods is a people-centered development and consulting firm that was founded in 2019. Its mission is to advance community-anchored real estate development through innovative, collaborative solutions.
In partnership with Matthews Southwest, Innovan Neighborhoods said it works to build and strengthen neighborhoods in concert with community stakeholders, from joint ventures for affordable single-family homes to leading phased, master-planning development strategies in transitioning neighborhoods throughout Dallas-Fort Worth.
Innovan said it has a $100 million pipeline of affordable housing and small business-anchored development totaling 360+ units.
You can find out more about the roundtable by going here.
Get on the list.
Dallas Innovates, every day.
Sign up to keep your eye on what’s new and next in Dallas-Fort Worth, every day.
R E A D N E X T
-
Local developer and consulting firm Innovan Neighborhoods is leading the roundtable's efforts to increase affordable housing in the region while accelerating the revitalization of underserved communities around Dallas. With initial funding from JPMorgan Chase, "flexible capital" could help boost needed projects. "When we put funds and resources behind innovative solutions, we can see neighborhoods and communities set up for long-term success,” says Maggie Parker, Innovan's founder and managing partner.
-
The Cancer Prevention & Research Institute of Texas has provided more than $3.1 billion in funding toward the development of cancer-fighting therapeutics, devices, diagnostics, and tools since 2010. It's now issued a call for startups and early-stage companies to apply for product development research grants for the 2023 fiscal year. “CPRIT’s mission is to invest in the research prowess of Texas institutions while expediting breakthroughs in cancer cures and prevention,” CEO Wayne Roberts said last May.
-
HBCU HUB, a startup focused on connecting students to recruiters at historically Black colleges and universities, is moving its headquarters to McKinney with the aid of grant funding from the McKinney Economic Development Corporation’s Innovation Fund.
-
Find your passion and give with purpose to support our community.
-
The Dallas City Council recently approved up to $31.4 million in tax increment financing for the first phase of the Dallas-based developer's planned mixed-use development near the UNT Dallas campus. University Hills could ultimately include 1,500 multi-family units, hundreds of single-family homes, 1.5 million square feet of commercial properties, and more than 50 acres of green space.
