Los Angeles – While millions of Americans are watching Donald Trump search for “The Apprentice” to help him build his real estate and business empire, there’s another kind of real estate search taking place in LA this week. Would you believe a train conductor, waiter, schoolteacher, lawyer and civil engineer can make the cut in the search for people who can change the face of depressed, inner-city neighborhoods across Southern California? This unlikely mix is exactly what’s coming to the University of Southern California campus this weekend to learn the ropes of building affordable housing and finding the financial backers to bring much needed retail and office projects to the urban core.
They are part of the highly regarded USC Ross Minority Program in Real Estate (www.usc.edu/org/ross), an effort that had its start within the USC Lusk Center for Real Estate back in 1993. Since that time, more than 300 students have graduated from the intense two-week program that has helped bring millions of dollars in real estate projects to struggling neighborhoods in Southern California. This week’s class of 26 students – mostly Hispanic and African American – is part of the first winter class for the Ross Program, funded by a $1 million grant from renowned real estate finance expert Stan Ross and his wife Marilyn. Ross was vice chairman of Ernst & Young before being named chairman of the USC Lusk Center for Real Estate. He has advised the biggest names in the business and was a key member of the team that helped Donald Trump restructure his real estate empire in the early 1990s. Stan believes this diverse group of students has what it takes to make the program work -- entrepreneurial skills, enthusiasm and the desire to give something back to the community. And yes, many of them will become apprentices – working with mentors they meet over the next several weeks.
There is no other program in the country like this and the Lusk Center hopes to take the concept nationwide to teach business professionals the fundamental skills needed to develop affordable housing, retail, mixed-use, offices, and community facilities in underserved communities. For now, Ross and some of the city’s top real estate developers and finance experts, along with several professors from USC, will spend the next several weekends with these students, some of whom have advanced degrees in business, law and urban planning. Stan Ross and the USC Lusk Center have a mission to bring more minorities into real estate development who will contribute to their neighborhoods. Ross is currently working on a book about career opportunities in real estate, an industry that continues to fuel the economy.
If you would enjoy meeting some of these students and talking to Stan Ross or to the Lusk Center’s director of executive education, Dr. David Dale-Johnson, please contact:
Francie Murphy
francie@fmassociates.com
858-350-5152
Eduardo Santana
esantana@usc.edu
213-821-1795