Partnership Addresses CRE’s Lack of Diversity

Florida A&M University (FAMU) has joined forces with Front Street Commercial Real Estate of Gainesville, FL, to help create minority opportunities in commercial real estate. The partnership is planning to create internships beginning this summer.

Behind the partnership is Jason Hurst, a 2005 graduate from the historically black FAMU, and Front Street’s associate director. Front, troubled by a clear lack of minorities and women in the industry, reached out to his alma mater in a collaborative effort.

According to a 2013 report issued on CREDiversity.com, the real estate industry generates more than $300 billion in annual revenue, and employs millions of individuals across a broad range of skills. However, “the industry has been characterized as the ‘least diverse industry on the planet,’” the report indicated.