Mayor Karen Bass delivered the opening keynote address to a standing room only event filled with members and guests for the 5th Annual Market Trends Breakfast of the African American Real Estate Professionals Association Los Angeles (AAREP LA) at City Club Los Angeles in downtown on Tuesday, February 28.
This year’s Market Trends Breakfast brought together a robust mix of private and nonprivate real estate developers, public officials, housing advocates, investors, capital advisors, and lenders with one common goal, to discuss the current state of housing in Los Angeles and expand opportunities for a full range of development in historically overlooked communities. The first quarter of 2023 breakfast focused exclusively on affordable housing, homelessness initiatives, and homeownership.
Dr. Frederick White, City of Los Angeles, Housing Finance and former Life Insurance Company commercial real estate lending executive, served as host/moderator and Qiana Charles, vice president and regional executive Los Angeles for the Federal Reserve Bank of San Francisco, was one of the featured speakers.
Charles shared that the Federal Reserve Bank engages with the community through listening sessions, meeting with business and community leaders, various roundtables, and nonprofit partnerships. She expressed enthusiasm around leading the Bank’s commitment to understanding and reflecting the communities it serves in Southern California.
The Los Angeles Housing Ecosystem panel included industry experts Tiena Johnson Hall of the California Housing Agency (CalHFA); Jennifer McElyea of ETHOS Real Estate, Alexis Laing of Laing Companies and local developer, Rodney Brown of New Life Global Development. The discussion covered all aspects of affordable housing in the city from capital, public sector involvement, development, preservation to homeownership and new opportunities in South L.A.
The topic of affordable housing has long been a discussion for the greater Los Angeles area. Under the leadership of Mayor Bass, the issue of homelessness, and affordable housing proposals are now on the table with steps being taken to move the situation in the right direction. AAREP LA is poised to be part of this discussion and facilitate solutions through its ecosystem of real estate thought leaders.
It was the goal of the African American Real Estate Professionals Los Angeles to shed light on the efforts and advancements made in South Los Angeles and how developers of color are continuing to bring new projects to the people of South Los Angeles.
AAREP LA President, Kimberly Brown shared, “It is always gratifying to see the commercial real estate industry and our civic leaders come together in such a meaningful way around such a pressing issue impacting our communities. We were honored that Mayor Bass offered to deliver the opening address to our members, sponsors, and invited guests. Our organization aligns with Mayor Bass’ initiatives, and we are eager to work with her office in full support.”
Brown, who’s with IMPACT Realty Advisors, is a veteran investment sales broker representing historically overlooked communities now experiencing a surge in investment like South Los Angeles.
The African American Real Estate Professionals is a national network of chapters developed to support the advancement of African Americans seeking to obtain career establishment and growth within the commercial real estate industry through professional development and networking. The organization’s activities have a united purpose: to support future developers, construction executives, architects, asset managers, and finance and law professionals in building relationships and obtaining the resources that aid in current and future growth. The Los Angeles Chapter (AAREP LA) was chartered in 2013.