LISC Houston and LISC San Antonio are excited to announce the selection of Be Good Development Partners (BGDP) as the consultant for the Emerging Developers Initiative.
This statewide initiative is generously supported by funding from Truist’s Community Reinvestment Act department. It forms part of a broader effort that includes 17 grants across 13 states, aimed at creating impactful outcomes across Truist’s primary markets including facilitating over 1,000 livable wage jobs, developing or preserving 700 affordable housing units, deploying $65 million in loan capital, and expanding access to essential services for 3,100 individuals.
Addressing the acute need for affordable housing and the diversity gap in real estate development has been a long-standing commitment for both LISC offices. Recent statistics highlight the disparity, noting that out of approximately 112,000 real estate development companies in the United States, about 111,000 are white-owned. In response, LISC Houston and LISC San Antonio in partnership with Grow America launched the Supporting Empowered Emerging Developers (SEED) Academy in both cities during the fall 2023. This initiative featured a comprehensive five-day training course covering essential aspects of real estate development.
While the SEED Academy was a success, the persistent demand for more affordable housing and skilled developers has led to this new partnership with BGDP. Established in 2018 by Franchell Abdalla, BGDP is renowned for its innovative, integrity-driven approach to real estate, making significant strides particularly in the Tulsa, OK market. Their expertise in fostering transformative community development aligns perfectly with the objectives of this initiative. Our goal is to first understand the existing real estate development ecosystem and then build an ‘on-ramp’ for emerging developers to participate in ways that reflect the diversity and dynamism of Texas," Franchell Abdalla, Principal and Founder, Be Good Development Partners.
Franchell Abdalla brings a wealth of experience to this role, having previously led the Foundation and Housing division of the Omaha Housing Authority (OHA). There she secured over $110MM in capital, grant funding and partnerships, in support of transformative community development, facilitated down-payment assistance for 64 families, oversaw the construction of 25 homes for low-to- moderate income families, and launched training programs that empower refugee women.
The Emerging Developers initiative is not just about increasing the number of qualified developers; it also focuses on creating sustainable and affordable housing solutions in underserved communities. LISC Houston and LISC San Antonio are committed to this partnership and the substantial impact it promises.
Stay tuned for more updates as we progress through this groundbreaking initiative.
For more information, contact Jason Grant at jgrant2@lisc.org