Creating a More Equitable and Diverse Affordable Housing Industry
Earlier this month, HPD held its first networking event for Minority- and Women-Owned Business Enterprises (M/WBE) and non-profits through our new Pathways to Opportunity program. A partnership with LISC, Enterprise, and Goldman Sachs, this program provides free trainings for M/WBEs and non-profits interested in expanding their presence in the growing affordable housing marketing agent industry. As a part of their commitment to expanding opportunities for M/WBEs and non-profits in the industry, REBNY, NYSAFAH, and Goldman Sachs tapped their networks to invite experienced developers and property managers to connect virtually with the first cohort of marketing agent trainees.
Now fully trained in in the City’s marketing and lottery process, Low Income Housing Tax Credit (LIHTC) Compliance, and Fair Housing rules and regulations through the program, the M/WBE and non-profit graduates were able to connect with developers and property managers interested in employing them as marketing agents in the future. They also had the chance to discuss additional opportunities based on their existing expertise — whether in single family homeownership or commercial buildings. Providing greater economic opportunities for M/WBEs and nonprofits not only strengthens these partners, but also creates a more equitable and diverse affordable housing industry.
One participant, Micki Garcia, shared her experience at the networking event, “During the Breakout Session, we were paired up with BFC Developers, a full circle experience because it was actually one of their own company’s executives who first opened the door into the affordable housing world for us back in 2003. That part-time assignment helped us understand the importance of having access to affordable housing, something that is now part of our legacy. Our team at Micki Garcia Realty appreciates the added value Pathways to Opportunity helped us acquire.”
Micki Garcia Realty, an M/WBE real estate consulting firm, is one of the 18 firms graduating from the first Pathways to Opportunity series. So far, half of the first cohort have applied for HPD’s Qualified Marketing Agent Request for Qualifications (RFQ), a testament to the program’s ability to build capacity and prepare participants for the application. And more than 50 firms have applied for the Spring series starting this month. Interested M/WBEs and nonprofits can learn more about Pathways to Opportunity and apply for the Fall series by August 13, 2021 by submitting an interest form.
