By Michael Gottlieb
The nation's only comprehensive, minority real estate development training program received a $1 million endowment from Stan Ross., a noted real estate finance expert, last month.
The University of Southern California Stan and Marilyn Ross Minority Program in Real Estate will teach professionals the fundamental skills needed to develop affordable housing, retail, mixed-use, office and community facilities in inner-city neighborhoods.
The Lusk Center for Real Estate now administers the program, which was established in 1992 at the university's Marshall School of Business as the Summer Program in Real Estate, more commonly known as SPIRE. The program is based on the belief that minority development is essential to the economic growth and self-determination of underserved communities.
"It presents a unique opportunity to increase diversity among future leaders in the real estate industry," said Ross, one of several instructors for the two-week course.
David Dale-Johnson , program co-founder, said the program serves as a resource for lenders, investors and community-based developers looking for skilled professionals. Alumni have built affordable housing, redeveloped neglected neighborhoods and helped build shopping centers.
"Our graduates continue to make significant contributions to their communities, and we hope to leverage that success by expanding the course," Dale-Johnson said.
Preliminary expansion plans include formalizing the Lusk Center's relationships with leaders from national organizations, agencies and the development industry to build the program's resources and recruit new students from around the country.
More information on the program is available at www.usc.edu/lusk.