The Seneca Village Initiative
Our Mission to Bridge the Racial Funding Gap
About The Seneca Village Initiative
Diversified Community Impact’s Seneca Village Initiative is dedicated to addressing the racial funding gap in the commercial real estate industry. Our mission is to mobilize $1 billion in limited partner and operating capital to Black-led real estate funds and commercial real estate projects over the next 5 years, and create an equitable ecosystem for real estate investment throughout America.
Why Seneca Village Initiative Matters
For far too long, fund managers of color have faced significant obstacles in their advancement due to the deeply rooted problem of the racial financing gap in the capital markets and commercial real estate sectors. Less than 2% of real estate development firms are Black-led, and minority-led firms control less than 1.5% of commercial real estate assets.
We must confront this inequality head-on and build a future where everyone can prosper. Examining the larger picture of the commercial real estate sector is essential to fully appreciating the scope of the issue. It’s impossible for minority firms to grow their operations or real estate portfolios when equity and debt are out of reach. Research continuously shows that diverse teams are more likely to provide larger financial returns, demonstrating that investing in underrepresented populations is a smart move that helps the organization as a whole rather from merely being an issue of equity.
The Seneca Village Initiative is a call to action for individuals and organizations to join us in closing the racial funding gap and shaping a more inclusive future for commercial real estate. By redirecting capital towards BIPOC real estate developers (GPs), we challenge the status quo and unlock the true potential of a diverse and inclusive real estate ecosystem.
We must confront this inequality head-on and build a future where everyone can prosper. Examining the larger picture of the commercial real estate sector is essential to fully appreciating the scope of the issue. It’s impossible for minority firms to grow their operations or real estate portfolios when equity and debt are out of reach. Research continuously shows that diverse teams are more likely to provide larger financial returns, demonstrating that investing in underrepresented populations is a smart move that helps the organization as a whole rather from merely being an issue of equity.
The Seneca Village Initiative is a call to action for individuals and organizations to join us in closing the racial funding gap and shaping a more inclusive future for commercial real estate. By redirecting capital towards BIPOC real estate developers (GPs), we challenge the status quo and unlock the true potential of a diverse and inclusive real estate ecosystem.