REDi Training Program
The goal of the LISC Charlotte Real Estate Developer Incubator (REDi) Training Program is to train and support emerging developers to dramatically accelerate the number of those who are credit-ready and better equipped to utilize capital to advance their projects. This program will help developers to expand their capacity and access to projects, while becoming more competitive as the city of Charlotte’s affordable housing and commercial project pipeline grows and more market opportunities arise. This will support more inclusive and equitable wealth-creation. Through a cohort-based curriculum, firms will be provided technical assistance, coaching, and access to resources that will equip them to reduce barriers to market entry and expansion.
Partners
- RF Wilkins
- Red to Green Consulting
Funders
- City of Charlotte
- Wells Fargo Bank
- Developer must be a legally formed entity (corporation, partnership, limited liability company etc.).
- Firms must be located in the city of Charlotte and do a majority of their business in Charlotte.
- Firms must have less than 50 employees, including all owners.
- Must be a real estate developer (for profit or non-profit, if non-profit it must engage in real estate activities) or contractor.
- Firm certification as a Minority Business Enterprise (MBE or MWBE) by the city of Charlotte is preferred but not required.
- Participating owner or senior partner must have at least one of the following experiences:
- Two years of experience as a real estate developer.
- Three years of experience as a contractor (housing or commercial) in real estate development with plans to become a real estate developer.
- Experience developing or constructing housing/commercial spaces (projects greater than 5 units of housing or 5,000 square feet of commercial space is preferred.)
*Firms located in the Corridors of Opportunity geography or have a real estate project located in the Corridors geography will be prioritized for program participation. Please click here for a map of the six Corridors of Opportunity.
Program Elements
- Coaching by experienced real estate developers.
- Real time assistance with deals in the project pipeline.
- Real time support developing agency and industry relationships.
- Virtual instruction modules with in-person networking events to encourage peer collaboration.
- Access to capital (REDi Capital and/or other LISC loan products or partnerships) through fund application package approval.
Timeline
- October 24, 2024 – Applications go live
- November 8, 2024 – Virtual informational session (see registration link below)
- November 21, 2024 at 11:59 pm – Applications close
- January 2025 (exact date to be announced) - Classes begin
Application Information
Please click here to access the LISC Charlotte REDi Training application.
There will be a Cohort One application information webinar at 10:30 am on Friday, November 8, 2024. Please click here to register.
*We welcome applications from firm owners and senior partners with disadvantaged backgrounds who have been systematically excluded from participating in the real estate industry.