David Reznick Foundation Supports Recipients of Univ. of Baltimore Real Estate Fellows Equity Awards
The David Reznick Foundation is thrilled to be providing financial support and mentorship to two of this year’s winners of the University of Baltimore Real Estate Fellows program, created to help meet a need for more “middle market” affordable housing in Baltimore—a mission in line with David’s Reznick life-long commitment to preserving affordable housing and supporting community revitalization. These development projects were presented at the University of Baltimore’s 2022 Real Estate Fellows’ “Pitch for a Million” competition.
The program takes its student and alumni entrepreneurs through a 10-week mentoring program with Baltimore-area seasoned real estate professionals. As the program site explains it: “Students will identity a Baltimore City neighborhood, create a project, complete a development plan and prepare an application for financing. The winning proposal will get $10,000 in equity to secure the property for their proposal and the necessary financing up to $1 million in a Guidance Line of Credit from Baltimore Community Lending (BCL) to proceed with the project.”
The two emerging developers receiving support from The David Reznick Foundation are:
Thomas Anderson (pictured above), who was incarcerated for 22 years, is now a student at the university. As part of his “Manumission Project,” he will be building a 12-unit apartment building with supportive services for people recently released from incarceration who will be enrolled at local colleges. Thomas was awarded $5,000 to help him establish his business plan and vision. [Thomas’ winning presentation begins at 22 minutes in the video below.]
Three Walls Development, consisting of Amber Jones, Lamar Purnell and Wesley Hawkins (pictured above), will be rehabbing two townhouses in a depressed neighborhood in Baltimore, and then selling the properties with concessionary financing. Their plan is to continue to rehab more houses. Three Walls Development, was award $15,000 [Three Walls Development’s presentation to the judges begins at 1 hour and 17 minutes in the video below.]
“With these financial contributions, we continue and honor one of David Reznick’s greatest strengths—mentoring those professionals just getting started in the affordable housing industry to develop new projects and build capacity to develop future deals,” said Foundation President, Sharon Dworkin Bell.
Watch the candidate’s presentations, and [at 1 hour 40 minutes] the announcement of the winners, below: