There’s a development boom taking place in Baltimore. Vacant houses and lots are undergoing extensive renovations, revitalizing housing, businesses and entertainment in Charm City.
Yet, fewer than 1% of real estate developers are Black, Latino or women.
HomeFree-USA is hoping to help change that by hosting theDevelop the Developer Academy (DTDA), a five-day training program that will give underrepresented entrepreneurs the skills to succeed in a competitive market.
The training will take place November 7 – November 11 at the Cambria Hotel in Arundel Mills. Applications for the program will be accepted until October 1.
Freddie Mac launched the DTDA program in 2020 to increase reinvestment and development in historically underserved communities.
“Our goal with the Develop the Developer program is really to empower people who live in the community who are interested in creating affordable housing stock,” says Cass Skinadov, Affordable Lending Manager for Freddie Mac. “We want you to be able to start the next chapter in Baltimore. That could mean building new single-family housing; that could also mean revitalizing community housing.”
HomeFree-USA is no stranger to development opportunities in Baltimore. In 2015, HomeFree-USA launched its signature ‘Move Up in Maryland’ program, which helped to reinvigorate West Baltimore by reclaiming neighborhoods that have been ravaged by vacant properties and the painful effects of the financial crisis. Learn more about our affordable housing program.
DTDA marks a new chapter in the creation of development opportunities in Baltimore. Not only will the city benefit but minority- and women-owned real estate companies will get the resources they need to take their development goals to the next level.
“There’s a lack of Black and Brown representation and women in the field,” says Angel Starks, a developer who went through DTDA in 2020. The program showed her a different side of real estate development that helped her become a player in the industry. “Being able to see development from the very beginning to the end — I think that has been the most valuable.”
