Diversity Equity and Inclusion
The first global benchmark of diversity, equity, and inclusion (DEI) metrics for commercial real estate shows that there is a clear mandate and momentum, with 92 percent of firms adopting programs or initiatives to improve DEI in the workplace. The Global Real Estate DEI Survey is the industry’s first global collection of corporate best practices and employee demographics for commercial real estate.
Destination Crenshaw, a transformative 1.3-mile (2 km) infrastructure project scheduled to open in fall 2022, was the focus of a ULI Los Angeles virtual event in July, highlighting plans to boost the Crenshaw community through economic development, job creation, and environmental healing while elevating Black art and culture.
Supported in part by the Urban Land Institute, the Diversity in Commercial Real Estate Virtual Summit brought together more than 450 attendees in November. The focus of this year’s summit was diversifying the commercial real estate industry from the executive leadership and entrepreneurial perspective. In past years, the summit drew primarily from the greater New York City area, but by going virtual it was able to attract a larger pool of attendees and speakers.
ULI Boston/New England and other local partners recently hosted a webinar designed to provide actionable steps to increase diversity, equity, and inclusion within the commercial real estate industry. Citing research by McKinsey & Company, speakers said that companies in the top quartile for ethnic and cultural diversity on their executive teams were 33 percent more likely to experience above-average profitability than companies in the lowest quartile.
ULI’s new online Foundations of Real Estate (FoRE) curriculum is targeted to undergraduate students at liberal arts colleges and universities. FoRE is a key part of the Institute’s efforts to identify, diversify, and broaden the pool of young people interested in a real estate career. The curriculum is offered through the ULI Learning program, which includes a variety of digital education courses as well as topical webinars provided to ULI members and prospective members.
How D&I principles worked in the development of the Omni Boston Seaport Hotel.
Lamont Blackstone, chairman of the board of Project REAP, the nation’s leading diversity initiative focused on the commercial real estate industry, shares his thoughts on why the commercial real estate (CRE) industry lagged behind other economic sectors in embracing diversity.
