Goals are to help residents learn real estate development, promote neighborhood-driven revitalization, and build community wealth; applications due February 27
We are accepting applications for the next cohort of participants in the Jumpstart Rhode Island program to revitalize Rhode Island and build community wealth through training, mentoring, and networking for local aspiring real estate developers. This unique community development program is modeled on and part of the network of programs developed by Jumpstart Germantown and Philly Office Retail in Pennsylvania.
The training program introduces less experienced developers to the basics of real estate development, including property sourcing, due diligence, financing, design and construction, and leasing and selling. The program consists of 15 hours of instruction.
Aspiring or early-stage developers who are community-minded are encouraged to apply. Applicants from historically disinvested communities will be prioritized.
Training sessions will take place on three Saturdays, March 14, 21, and 28, from 9:00 a.m. until 2:00 p.m. They will be held in person in the Providence area (location TBD). At this time, the program is only being delivered in English. To graduate, participants must attend all three sessions. There is a $75 participation fee. Scholarships are available.
Jumpstart was developed by Ken Weinstein in 2015 in the Germantown section of Philadelphia and has now grown to 15 communities. The objectives of the program are to:
- Create opportunities for local residents to invest and develop in their neighborhoods
- Build wealth locally
- Support scattered-site rehabilitation
- Encourage a healthy mix of affordable and market-rate housing
- Improve neighborhood safety and raises property values through blight reduction
- Help first-time investors become more attractive to traditional lenders
- Promote diversity, changing the face of real estate development
This program has been brought to Rhode Island with the generous support of Centreville Bank. Sharon Conard-Wells, the former executive director of the West Elmwood Housing Development Corporation and long-time community leader, assisted Local Return with adapting the program to Rhode Island.
We are also seeking experienced real estate developers to serve as mentors to Jumpstart Rhode island graduates. This is an excellent opportunity to pay it forward!
Interested candidates must apply online by Friday, February 27. Find more information, including the applications for participants and mentors, at localreturn.org/jumpstart-rhode-island/.
