AUSTIN, Texas — The population of Austin, Texas, has increased exponentially, affecting the economy’s housing market. It’s worried some that the market may be at risk of oversaturation, which could cause lower demand and housing costs. It’s well known how competitive the real estate industry is, so a new training program for 20 small developers might just be a solution.
The City of Austin reported that the Austin Housing Finance Corporation announced 20 participants for the Austin Small Developer Training Program, led by Capital Impact Partners and HousingWorks Austin.
“This program will help provide small developers with training, mentorship, networking and potential pathways to financing for eligible real estate projects in Austin,” according to the City.
Training began in July this year and goes on through October. It serves as an opportunity for the “historically excluded and overlooked small-scale real estate developers, helping to create more affordable housing and job opportunities locally.”
Officials say housing developers of color make up less than 5% in the U.S. One out of three housing developers in America are women.
“The Austin Small Developer Training program will empower each real estate developer to confront the top industry challenges faced in Austin,” explains James May, Housing and Community Development Officer for the Austin Housing Finance Corporation. “We know these business strategies and industry connections will be critical resources to help bring more affordable housing investment throughout Austin.”
Small developers in this program have shown dedication to affordability and fair housing in the city. They’ll learn from zoning experts about how to secure vacant land for small-scale projects, and be led through the process.
Over 200 developers have been trained under Capital Impact Partners. They have financially aided eligible real estate projects in Austin. With a referral network of lenders, developers have access to other sources of financing.
“The Small Developer Training Program strongly aligns with our mission to educate individuals about affordable housing and increase housing opportunities through new development, explains Nora Linares-Moeller, Executive Director of HousingWorks Austin. “What better way to expand housing opportunities than training new developers to bring new perspectives and build needed affordable housing in Austin? We couldn’t be more thrilled to be a part of this important endeavor for the city.”
The Austin small developer participants are listed below:
- Affordable Central Texas | Monica Medina
- ALEON Properties, Inc. | Charmane Sellers
- Aligned Wealth Partners | David Thompson II
- Blackland CDC | Andy Bucknall
- Blackshear Neighborhood Development Corporation | Cynthia Mathis-Gaines
- Boomers Collaborative Foundation Inc | Carol Lilly
- Castillo Acquisitions, LLC | Anthony Castillo
- Chestnut Neighborhood Revitalization Corporation | Lex Miller
- Drenner Group | Temaria Davis
- Equidad ATX | Ashton Cumberbatch, Jr.
- GreenSphere, Inc & The Property Center | Mo Sheikh
- Haslem Development Corporation | Kandra Haslem
- Hayat Brown | Curtis Wilkins
- Industry ATX | Megan Etz
- LT Development Partners | Lezlie Le
- Manifold Real Estate | Mila Santana
- Nill Consulting | Ryan Nill
- Spark Root Development and Construction | Daniel Canizales
- Titan Valuation LLC & Deets Development | Stephen Brown
- Thoughtful Development Partners LLC | Zeeshan Malik
Access resources for affordable housing and developers here.