Have you wondered what it takes to be a real estate developer or do you work with real estate developers and want to understand more about the development process? 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 2024 class, which kicked off in June 2024.

Thirty participants step into the role of a real estate developer, gaining direct knowledge and experience working in teams to produce a development plan, pro-forma, and marketing plan for a real project. Participants are taught by a volunteer faculty of experienced, multi-disciplinary, top-tier practicing real estate professionals serving as instructors, mentors, and facilitators who share market-based knowledge and the wisdom from their experience.

The program concludes with REDI teams presenting their proposals to a panel of real estate professionals who engage the participants and provide constructive feedback.

Participant Requirements:

• 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!
• $500 Fee upon acceptance into the program must be received before the program begins in June. If the fee is not collected in time, you forfeit your place in the program.
• Participants must complete a program evaluation following the coursework.

Participant rewards (upon successful program completion):

• Certificate of program completion.
• Real Estate Continuing Education (2023 session received 22.5 hours of continuing credits).
• Large and small group real estate mentoring and education worth $15,000.
• ULI Cleveland membership for 1-year.
• Free admission to select ULI Cleveland special events for 1 year following the REDI program
• and more!

2025 Application Process 

We will be accepting applications for the 2025 cohort in early 2025. To receive updates about the 2025 REDI program please click here.

REDI Program Schedule 2024
Classes are scheduled on Tuesday’s from 6:00-9:00 pm. Tuesday, July 4 and Tuesday, September 5 will be skipped due to the holiday.

Select program mentors are listed below:

• Josh Herman, Venvidici Ltd.
• Brian Meng, Bialosky

Session 1: In-Person Kickoff Reception, June 4

Session 2: Curriculum Introduction, June 11

• Review case study project & program overview
• Team’s connect to outline schedules for the remainder of the program

Session 3: Site Analysis & Due Diligence, June 18

• Utilities and Traffic
  • Josh Osterhout, President at Civil Design Group, LLC
• Zoning, Entitlements and Government Approvals

Session 4: Site Planning & Governmental Approvals, June 25

• Environmental Testing/Brownfields
  • Stephen Conway, Principal / Department Manager – Environmental Services at Terracon
• Due Diligence Planning
  • Christian Lynn, PLA, ASLA Associate Vice President, Urbanism + Planning Practice Lead AECOM

Session 5: Market Analysis & Cost Estimates, July 9

• Market Analysis & Feasibility
  • Jack Newton, Manager of Community Development at GBX Group LLC
• Cost Estimating

Session 6: Team Working Time, July 16

Session 7: Real Estate Pro Forma 101, July 23

• Pro Forma Introduction

Session 8: Project Funding, July 30

• Debt Markets & Underwriting Requirements: What is feasible in today’s market?
  • Suzanne Hamilton, Senior Vice President, Commercial Real Estate at ERIEBANK
• Public Funding
  • Ken Kalynchuk, Director and Principal at Project Management Consultants LLC (PMC)

Session 9: Finance, August 6

• Pro Forma Deep Dive

Session 10: Team Working Time, August 13

Session 11: Managing Construction, August 20

• Owner’s Rep & The Construction Process
• Real Estate Law

Session 12: Post Construction, August 27

• Operations and Property Management
• Programming, Pre-Leasing, Sales

Session 13: Practice Presentations, September 10

• Pro Forma Review

Session 14: Final Presentations, September 17

Graduation: October 1

For additional information about the REDI program, please contact the REDI Co-Leaders:

Hosanna Farr Mahaley, Chief Executive Officer, Legacy RED (Real Estate Development), [email protected]

Rhoni Thompson, President/CEO at R.L. Cole Enterprise, [email protected]

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.

Sponsorship Opportunities

Through the generosity of our REDI sponsors, we are able to offer this course for a reduced registration fee. Help support ULI Cleveland’s Real Estate Diversity Initiative by learning more about sponsorship opportunities online here. REDI sponsorships run on a calendar year from January-December.