Thank you to The Port for contributing this article.
The Real Estate Accelerator Lab (REAL) is an industry-supported program designed to educate and mentor the next generation of Greater Cincinnati real estate professionals. The REAL program is sponsored by the Urban Land Institute and LISC Greater Cincinnati and includes more than 10 public and private sector partners. Classes will be hosted at the new offices of the Greater Cincinnati and Northern KY African American Chamber of Commerce.
“The goal of the REAL program is to expand the diversity of race, ethnicity and gender represented in real estate development,” shared Lydia Jacobs-Horton, Executive Director, Urban Land Institute (ULI) Cincinnati. “We want to provide a diverse group of emerging leaders in our community the opportunity to expand their knowledge and build the skills to participate in the development of real estate in Greater Cincinnati.”
REAL accepted applications from professionals who have a strong interest in advancing their careers in the real estate, development and construction professions, although previous experience in those sectors is not mandatory. A minimum of five years of experience, which can include education, work or real estate investment or a combination of the three, is required. Select leaders with varying levels of familiarity with real estate development will create a myriad of experiences and perspectives. Applications were due by the end of August 2019. Applications for the 2020-2021 program will open in early 2020.
“Through the REAL program, we want to attract more women and minorities to the real estate industry and see them have influence over development both throughout the City and in communities of color,” said Kathy Schwab, Executive Director of LISC Greater Cincinnati. “A comprehensive curriculum, that spans an introduction to real estate development to site selection, design and construction to financing, has been developed with a full range of experts in the real estate industry.”
The 2019 – 2020 REAL program will kick off October 3, 2019 and run through graduation on May 7, 2020. The program will offer a variety of experiences from small group learning to on-site visits out in the community. Through m-TAPs (mini Technical Assistance Panels), teams of REAL participants will work with a governmental or non-profit client to address a real estate development-related challenge in order to add value and build thought leadership. Each team will present their m-TAP findings at the end of the REAL program in conjunction with ULI Cincinnati’s 18-Hour City Series session in May of 2020.
“I believe real estate development and investment is the most important way for our next generation to build wealth,” shared Mike Smith, Vice President of Commercial Development at The Port and REAL Board member. “Through the eight-month REAL program, emerging leaders will learn how to advance their careers in real estate and participate in a mentorship with an experienced professional.”