Developers of Color Initiative
Community Progress’ Developers of Color Initiative supports the revitalization of metro Atlanta neighborhoods by helping Atlanta-based developers of color access land and financing that produces more affordable, energy-efficient, climate-resilient housing in communities impacted by vacancy and disinvestment.
About the Program
In Atlanta and across the country, small-scale developers—those with more modest-sized firms and projects—face more challenges to assembling land, procuring loans and investments, and building a portfolio of projects, compared to larger development firms. Black and Brown developers in particular experience additional hurdles, having to overcome institutional racism in land acquisition, real estate development, and finance.
As a national expert in land banking, systemic vacancy, and the full cycle of community revitalization, Community Progress is excited to have informed the design and implementation of the Developers of Color Initiative to help tackle these challenges.
The Developers of Color Initiative supports smaller nonprofit and mission driven for-profit property development firms (led by Black, Brown, AAPI, and people of color) committed to neighborhood scale residential projects that help to heal communities impacted by vacant, abandoned, and deteriorated properties. The initiative will assemble a cohort of Metro Atlanta developers of color to:
- learn more about the challenges, needs, and solutions for redeveloping vacant, abandoned, and deteriorated properties;
- understand land banks and their potential portfolios of land; and build and deepen relationships with other revitalization-focused developers and practitioners.
A publication offering lessons learned, best practices, strategies, and recommendations to the philanthropy, policy, and financing fields for improving access to the resources these developers need for success will be made available in 2025.
2024-2025 Developers of Color Initiative Cohort
Local Expert Partners
We are honored to partner with the following local institutions to support the implementation of the Developers of Color Initiative:
Atlanta Neighborhood Development Initiative: Established in 1991, ANDP develops, finances, and advocates for affordable housing at scale that promotes racial equity and healthy communities where families thrive. Today, ANDP is working to address the growing gap in wealth and homeownership between Black and white households—especially in neighborhoods of great risk of gentrification and displacement.
Historic District Development Corporation: HDDC is one of Atlanta’s oldest surviving community development corporations and the only non-profit organization specifically dedicated to preserving the availability of affordable housing in the Old Fourth Ward district. For nearly four decades, HDDC has been a catalyst for equitable urban revitalization in Atlanta.
The Guild: The Guild takes a systems approach to creating collaborative, inclusive, and sustainable communities, with the aim of addressing the root causes of economic inequality. In 2015, The Guild started out as Atlanta’s first co-living company, creating spaces for “changemakers”—entrepreneurs, artists, and community organizers—to live, work, gather and thrive. Their workshops and trainings cover everything from advanced business basics to personal finance coaching, and even things like mindful meditation, to provide holistic support to these changemakers who work to positively impact their communities. Atlanta is grappling with both residential and commercial gentrification, with legacy residents and businesses both at the frontline of displacement, which only serves to widen the already existing racial wealth gap. The Guild takes a community-centered approach to development with upcoming deals focused on creating a pathway for community ownership.
Developers
The cohort will be announced in Summer 2024.
This program is made possible through generous funding from the JPMorgan Chase and the Arthur M. Blank Family Foundation.