For minorities and female developers, “access to capital has been the biggest challenge,” said Peebles, who has been an outspoken advocate for diversity in the industry. In addition to supplying capital, Peebles said his company will look at ways to support the emerging developers. Through co-developing or partnerships, he hopes the fund will “help mitigate risk and help them grow quicker.”
If Gravel and Von have their way, the massive project would comprise affordable workforce housing, job training, small-business lending help, and a $10 to $15 million fund dedicated to bolstering local businesses.
Gravel portrays this scene as part of a revolution, one as significant as the change triggered by the post war-boom that shaped a world around suburbs and cars. People want more than a lonely commute, and that desire will reshape our cities, he predicts.
Ryan Gravel has joined forces with Donray Von to launch an opportunity zone fund that plans to differentiate itself by creating ‘a company that combines real estate and economic development from project conception to completion’.