Tag Archives: BIPOC Generational Wealth

News

Report Shows Racial Wealth Divide Growing in Seattle, Forum Will Explore Solutions

by Elizabeth Turnbull


A report published this week by the nonprofit Prosperity Now reveals that even before the pandemic arrived, certain communities of color in Seattle have less wealth than fellow white residents, are more likely to experience homelesness, and are more likely to be unemployed. In response, Prosperity Now will join five community organizations, including the Africatown Community Land Trust and Communities Rise, in a virtual meeting at noon on Tuesday, March 16 to focus on addressing this racial wealth divide in Seattle.

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Community

GardnerGlobal Serves Up a Plan for Generational Black Wealth

by Beverly Aarons

Global pandemic, year one: Many businesses are shuttered or providing restricted service, but Seattle’s real estate market is still booming. We even have the most cranes in the sky — again. Despite the strained economy, Seattle housing prices continue an upward trend. 

When thinking about Seattle’s construction boom, most people think of overpriced housing, gentrification, and the displacement of People of Color, especially Black and Indigenous. They most likely wouldn’t imagine a Black person as an emerging power player in that realm. But GardnerGlobal, Inc., a Black-run, privately held holding company that’s been around since 2009 is consistently challenging assumptions about who has the right and the power to take a slice of Seattle’s real estate pie. Its subsidiary, Onpoint — a real estate services company providing brokerage, HOA management, and development services — recently purchased Mount Calvary Christian Church and has a plan to develop over 200 units of multi-family, mixed-use housing. Forty percent of the units will be affordable, earmarked for renters earning 50–80% Area Median Income (AMI). 

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