reBUILD Tulsa seeks to fill gaps with capstone projects
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The reBUILD Tulsa Developer Academy is a program offered by TEDC Creative Capital (TEDC) to aspiring real estate developers. A 2-week intensive curriculum, reBUILD covers the fundamentals of residential development and finance. The initiative serves both non-profit and for-profit developers, specifically BIPOC and women.
reBUILD Experience
Tiara Smith is a licensed professional realtor and a cohort three participant. She didn’t know what to expect when she first started the program, but her favorite part was meeting so many like-minded individuals with great spirits.
“As a realtor, I focus on relationships and everyone here, they’re really great people,” Smith said. “We really appreciate all the TEDC members and what they do for the community”
The academy is designed to equip students with the skills and knowledge necessary to become successful residential developers in the Tulsa area.
“It’s always great to educate myself so that I can further expand and teach the community,” Smith said.
Capstone Presentations
On Feb. 16, three groups from reBUILD cohort three presented their capstone presentations to a panel of judges for a chance at a $50,000, zero interest loan from TEDC Creative Capital. One of the judges, Tulsa Dream Center Executive Director Tim Newton, participated in cohort one and said the main quality he was looking for in the winning presentation was feasibility.
“How realistic is the project, what project can we invest in that can be done almost immediately, those are the big things that we were looking forward to but also how did the team work together to pull the project together was the main thing that I was personally looking forward to,” Newton said. “Like minded people that want to rebuild our community, that’s really what it’s all about.”
The three groups included the Ascenders, Next Level, and the Village. Ascenders sought to close the poverty gap with six owner occupied duplexes that would house low income tenants. Their idea includes in-house property management and creates generational wealth for the home buyer with turnkey rental properties.
Next Level won the pitch competition with their idea to close the middle housing gap with a live-work environment that supports both commercial and residential needs of the community through a panel housing model that merges any business with a home space that is separate yet connected in the same unit.
The Village had the idea of making a small footprint but a big impact with their idea of micro homes. They are factory made all inclusive homes that come with built in appliances and cater to professionals and retirees.
The program is open to anyone in Tulsa who is interested in learning the fundamentals of development. For more information visit the TEDC website.
About TEDC Creative Capital
TEDC Creative Capital (aka TEDC) is a community development financial institution (CDFI) providing progressive lending to promising start-up and growing businesses. TEDC builds equitable economic prosperity by helping small companies operate more successfully, create jobs, and advance communities! Loans range from $500 to $10 million.
Visit the TEDC website or call 918-585-8332 for more information on loan and entrepreneurial education programs! If you’re not a business owner but want to explore ownership, please contact TEDC! If you know someone who may need TEDC assistance, please share this story!