Black women are the fastest growing demographic of business owners and here are three Black women that are moving into the domain of commercial real estate what is considered by many to be the especially in commercial real estate, which has been called ‘the least diverse industry on the planet.’ Real estate ownership is also key to building inter-generational wealth. So many of our inner-city neighborhoods have suffered from divestment and benign neglect for decades after the erosion of the urban industrial manufacturing base. But Midwestern cities are making a comeback led by ambitious and visionary Black women that are taking real estate development to a new level.
Capitalizing on Inner-City Redevelopment
Gary much like Detroit is experiencing an influx of redevelopment capital for major players and these Black women are taking advantage of this urban renaissance by purchasing buildings on the periphery of the major development that will allow them to take advantage of the rising tide of urban development. There are using a new tool called crowdinvesting which became legal in May of 2016 and allows anyone rich or poor to take advantage of real estate development as an investor with as little a $100 investment.
The commercial project includes 6,250 square feet of retail space that includes office spaces in the basement. It is expected to be renovated, operational, and leased by 2019. Francine Anderson and Lakichay Nadirah Co-Founder of More Gold Investors And their goal is to serve their community by providing resources and trainings that result in community revitalization and development which will ultimately lead to a more sustainable and enriched community.
Buy The Block is the only Black female owner real estate platforms in the United States and it provide the infrastructure for the African-American community to shift some of the $1.3 trillion we have in purchasing power to small Black-owned businesses, inner-city real estate development and tech businesses that lack access to capital to grow and prosper. Buy The Block is open to any sort of project as long as there is a real estate component, whether residential, business or industrial projects.