African American Real Estate Professionals Recount Development Challenges and Successes – Urban Land

Edward Henley III, principal of Pillars Development, was one of the participants in the Access to Capital series at the ULI Virtual Fall Meeting

A three-part series of interviews during the 2020 ULI Virtual Fall Meeting examined the issues that have led to underinvestment in neighborhoods that have been predominantly African American, displacement that can occur as part of gentrification, and other topics. The discussion—led by Michael Banner, a member of the ULI Americas Executive Committee and the president and chief executive officer of Los Angeles LDC, a community development financial institution—largely focused on Los Angeles, Nashville, and Washington, D.C., all of which have seen significant growth in the past decade.

Michael Banner, CEO of Los Angeles LDC and member of the ULI Americas Executive Board, moderated all three sessions in the Access to Capital series at the ULI Virtual Fall Meeting.

In the first session, Banner interviewed Mayor James T. Butts, mayor of Inglewood, California, one of 88 independent cities in Los Angeles County. Inglewood just saw the opening of the $5 billion SoFi Stadium, home to the National Football League’s Chargers and Rams franchises.