Amazon is committing a portion of its $2B Housing Equity Fund to go toward a new training program dedicated to promote developers of color.
The e-commerce giant is partnering with Capital Impact Partners in Northern Virginia to build the two-year, $21M professional development program, it announced Wednesday.
“Developers of color bring enormous opportunity for creative and inclusive solutions to community-focused real estate development, but systemic issues continue to create multiple barriers to their success,” Ellis Carr, the president and CEO of Capital Impact Partners and CDC Small Business Finance, said in a statement. “Through this program, we are partnering with Amazon in helping open doors for people of color who can then pay their experience forward.”
The job training program would include virtual and in-person instruction on real estate fundamentals, small group mentoring, networking opportunities and access to capital for pre-development expenses, Amazon said in a press release.
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