The ULI Cleveland Real Estate Diversity Initiative (REDi) helps emerging developers learn about what it takes to put together a successful development.
Have you wondered what it takes to be a real estate developer? Would you like to add real estate development skills to your existing career portfolio? Are you a woman, LGBTQ+, and/or a person of color? If you answered YES, the Real Estate Diversity Initiative (REDI) is for you!
The Real Estate Diversity Initiative (REDI) is a comprehensive real estate development training and mentorship program for people of color, women, and LGBTQ+ individuals. The curriculum covers the spectrum of the real estate development process.
The ideal participant will have, at minimum, knowledge or interest in real estate, an undergraduate degree, a strong entrepreneurial spirit, and a desire to engage in real estate development. Competitive applications will demonstrate sufficient career experience to do well in the program, a strong commitment and desire to participate in the program, and supportive references. A panel consisting of representatives from the Urban Land Institute will select individuals for the 2021 class, which will kick off in early 2021.
- People of color, women, and LGBTQ+ individuals are eligible to apply for the program.
- 30 applicants will be accepted, based on completed applications.
- 100% class participation is required to graduate and receive the free ULI membership (up to three pre-approved absences are permitted). Please get your employer’s approval to participate before you apply!
- $300 Fee upon acceptance into the program must be received before the program begins in late June. If the fee is not collected in time, you forfeit your place in the program.
- Due to COVID-19, the 2021 sessions will be hosted virtually to prioritize everyone’s health and safety. Since this is the case, you must have access to a computer and an internet connection to participate. If it is possible to meet in person later in the program, we will do so.
- Participants must complete a program evaluation following the coursework.
Participant rewards (upon successful program completion):
- Certificate of program completion.
- AICP, AIA, and real estate broker Continuing Education Units.
- Large and small group real estate mentoring and education worth $15,000.
- and more!
Course Schedule 2021
REDI Program Schedule Spring 2021
Classes are scheduled on Tuesday’s from 6:00-9:00 pm. Tuesday, July 6 will be skipped due to the holiday.
Program mentors are listed below:
- Chris Garland, Community Development Manager, National Community Stabilization Trust
- Andrew Iarussi, Vice President, Development and Construction, Dalad Group
- Dennis Roberts, Director of Programs and Property Management at the Cuyahoga Land Bank
- Sally Levine, Architect, Levine Architecture & Design, Ltd.
- Paul Beegan, Architect, Beegan Architectural Design
- Allison Hennie, City Architect, City of Lakewood
- Kristen Zeiber, RA, Project Manager, Kent State CUDC
Kickoff Virtual Reception, May 25
Session 1: Curriculum Introduction, June 1
- Review case study project
- ULI Cleveland Overview, Steve Ross ULI Cleveland District Council Chair
- Program overview, Anthony Whitfield and Derek Reed, ULI Cleveland Outreach and REDI Committee Members
- Team Selections
Session 2: Due Diligence, June 8
- Title Review, Linda Green at Chicago Title
- Environmental Review
- Utilities, Traffic, Etc.
- Keshia Johnson Chambers, Project Manager at OHM
Session 3: Site Planning, June 15
- Market Analysis and Feasibility
- Jack Newton, Project Manager at GBX Group
- Christian Lynn, Planning & Landscape Architecture Practice Lead at AECOM
- Building Design/Interior Design
- Katalin Signs, Director of Interior Design and Greg Soltis, Senior Designer and Planner at RDL Architects
Session 4: Zoning, Entitlements, & Government Approvals, June 22
- Bryan Stone, Principal at Axiom Development
Session 5: Sales, Leasing & Marketing, June 29 by Maureen Anter-Ressler, Senior Associate at Passov Real Estate Group
- Programming Selection
- Pre-Leasing & Sales
Session 6: Financing (”Forming the Capital Stack”) July 13
- Pro Forma Excel Modeling 1: In this course, you will learn to create a basic multifamily investment pro forma. This course is designed for those who have not completed a pro forma from scratch. You will begin with an overview of financial modeling, and the course introduces/reviews a variety of Excel functions that are commonly used in building pro formas. Starting from a blank spreadsheet, you will receive step-by-step instructions in building the components of a financial model, including uses and sources of funds, mortgage amortization, cash flow projections, and property reversion. By the conclusion of the last session, you will have completed your own investment pro forma.
Session 7: Working Session, July 20
Session 8: Operations and Property Management, July 27, Shonna White, Real Estate Manager at CBRE
Session 9: Practice Presentation, August 3
Session 10: Final Team Presentation, August 10
Session 11: Graduation, August 17
For additional information about the REDI program, please contact the REDI Committee:
Anthony Whitfield, email@example.com
Derek Reed, firstname.lastname@example.org
Angela Bennett, email@example.com
John Neely, firstname.lastname@example.org
Bryan Stone, email@example.com
This is your opportunity to further your career by learning directly from real estate mentors about the challenges, opportunities, and best practices in the real estate development industry.