ULI/REAP Virtual Academy opens applications for spring cohort (updated)

This spring, the ULI/REAP Virtual Academy in commercial real estate, which aims to advance diversity and inclusion in the commercial real estate industry, is back, with enhanced content available nationwide.

Currently accepting applications, the initiative is a collaboration of Project REAP (Real Estate Association Program), the oldest and largest national effort to advance diversity, equity and inclusion in commercial real estate, and the Urban Land Institute.

“In an industry that thrives on relationships, the ULI/REAP Academy connects the resources of a global network of land-use experts with the nation’s leading change agent for diversity, equity and inclusion in commercial real estate,” Manikka Bowman, REAP’s new executive director and a former ULI official, said in a statement. “The partnership creates opportunities that are transformative for participants and, ultimately, for the communities they will be empowered to shape.”

Over the course of 2021, the program ran two cohorts marking the largest in REAP’s 24-year history: The spring and fall groups included a combined 225 fellows representing 24 states, Washington, D.C., and Canada.

For its upcoming cohort, REAP said it’s introducing new modules to address forward-looking features of the industry.

• C-PACE Financing: Boutique law firm Duval & Stachenfeld of New York City will lead a discussion on the emerging financing tool for green development and redevelopment. The practice is authorized in more than 37 states, including New Jersey.
• Impact Investing: African American financier and former professional football player Malcom Jackson will be among the presenters to address efforts to direct institutional investment capital to real estate development and redevelopment projects in Black, Lantix and underserved neighborhoods.
• Demolition and Redevelopment: Featuring a case study of the tallest intentional demolition and redevelopment of an existing building worldwide — JP Morgan Chase’s redevelopment of its headquarters at 270 Park Ave. in Manhattan — a feat of modern construction management.
• New Markets Tax Credits: Following the reauthorization of the federal New Markets Tax Credit program through 2025, the founders of the REAP-supported Open Access initiative will provide an introduction to the NMTC industry and the opportunities it offers to REAP alums and professionals of color.

For its spring curriculum, REAP anticipates featuring instructors and panelists from JLL, Cushman & Wakefield and Colliers International, in addition to representatives from the commercial real estate divisions of company like Walmart.

Founded in 1997, REAP pivoted to virtual classes with the onset of the COVID-19 pandemic. The organization previously provided in-person learning in cities nationwide, including Los Angeles, Dallas, Chicago, Atlanta, Cleveland, Columbus, Kansas City, Washington, D.C., and New York City.

“The ULI/REAP Virtual Academy allows us to reach any market in the U.S. — well beyond the borders of the nine cities where we’ve conducted in-person academies,” REAP Chair G. Lamont Blackstone said in a prepared statement. “It also provides us a platform for international expansion, and we are exploring those capabilities overseas. By expanding our outreach, we are able to serve additional major cities as well as smaller markets that had previously requested a REAP presence.”

Applications for the ULI/REAP Spring 2022 Academy will be accepted through March 30.

Applicants should have a four-year degree, or be a current graduating college senior, from an accredited institution. Tuition for the eight-week program is $850. Sessions are live online and available on-demand, with the opportunity for virtual networking.

Classes begin April 25. REAP alumni receive a one-year membership to ULI.

Editor’s note: This story was updated at 5:27 p.m. EST on March 10, 2022, to update information about the New Markets Tax Credits module for ULI/REAP Virtual Academy’s spring cohort, and to include information regarding Demolition and Redevelopment.