In an effort to level the playing field for developers of color, Cleveland Development Advisors and Cleveland Neighborhood Progress spearheaded a new real estate developer pitch competition this year. It’s called the Cleveland Equitable Development Initiative.

Fifteen developers of color were selected to be part of a cohort where they were mentored for several months during the progression of their development ideas and projects.

The program ended in a “Shark Tank”-style pitch competition, where three people won the top prizes of $50,000, $30,000 and $20,000 in pre-development grants.

The three winning projects hope to facilitate growth in some of Cleveland’s underserved neighborhoods, such as the Opportunity Corridor or Slavic Village.

Take for example top-prize-winner Andre Bryan’s pitch to develop a temperature-controlled warehouse. The warehouse, called iSPACE, will be located on Cleveland’s Opportunity Corridor for use by local health departments and non-profit organizations. The warehouse is poised to improve local healthcare access and spur economic growth.

Guests:
-Andre Bryan, Managing Partner at BridgePort Group
-Jimi Oluwabiyi, owner of Lael Developers Inc.
-Jermaine Brooks, realtor and managing member of WRJ Developers LLC
-William Willis, senior director of development services for Cleveland Development Advisors