Capital Impact Partners is excited to announce that the application is now open for the first cohort of the Bay Area Equitable Development Initiative (BA EDI) through December 1, 2021 5:00pm PST. We will be accepting up to 20 participants. The Equitable Development Initiative provides training and one-on-one support to real estate developers of color in the San Francisco Bay Area. For the purposes of this program, a real estate developer is an individual who controls the real estate development process from start to finish. This includes identifying property and creating a project vision; planning, designing, and financing that project; managing the project once it is fully operational; and pulling together a team of individuals to support the effort.
Key Dates
- Application is open through December 1, 2021 5:00pm PST.
- Notification of acceptance will be in December.
- The boot camp training will be held in early 2022. Times are TBD.
- The tentative training schedule will be held 12 p.m. – 5 p.m. on training days
- Dates are subject to change and training is expected to be virtual for a majority of the Cohort.
Eligibility Candidates should:
- Identify as racial or ethnic minorities.
- Be actively working to further careers in real estate development. As this is not an introductory program, candidates are expected to have some real estate development experience.
- Live in or have a strong connection to nine-county San Francisco Bay Area (Alameda County, Contra Costa County, Marin County, Napa County, San Francisco City/County, San Mateo County, Santa Clara County, Solano County, and Sonoma County).
- Demonstrate a commitment to multifamily housing affordability in the San Francisco Bay Area.
- Applicants may currently work in public, private and non-profit agencies with goals to further their real estate development career.
- Be able to commit to a majority of training dates for up to five (5) hours per week during training period.
- Be able to commit to additional hours weekly for assignments, team meetings, etc.
- Be interested in responding to requests for proposals for real estate development opportunities in the San Francisco Bay with or without a development partner in the next 1-2 years.
- Note: project financing is not guaranteed by participating in the EDI program; all investment requests are independently screened and underwritten.
Program Background Capital Impact has been supporting communities for over 40 years through capital investments, programs, policy work, and partnerships. While headquartered in Washington, D.C., our Oakland based office has allowed us to support community development opportunities across the state of California for the past 25 years. As a community development financial institution that invests in community, multifamily, and mixed-use development in the Bay Area, we are seeking to connect our goals of neighborhood revitalization and community wealth-building; this program is one way of making that connection.
We believe that communities of color have a right to benefit from and be able to participate in growing prosperity while preserving community history and culture. To that end, Capital Impact Partners believes that ethnic and racial minority real estate developers need to participate in and benefit from the multifamily real estate development industry in the San Francisco Bay area.
Contact Information Please reach out to Cameron Wilson (cwilson@capitalimpact.org), Director of Bay Area Initiatives, with questions about the program and application process. Support@submittable.com can help with application software issues.