Intel has begun construction on two cutting edge chip factories in Licking County. While the idea of a growing tech hub in Central Ohio is very exciting, time is running short to implement effective strategies to address the housing shortage bound to increase with this historic development.

That’s why the time is now to provide women and developers of color with a seat at the table. Historically it has been an extreme challenge for women and people of color to access the education, resources, and most importantly, the capital, to be true participants in the development arena. These barriers discourage smart, creative, and fresh talent from contributing solutions to a major community problem, and prevents them from reaping the benefits from this significant moment in time.

This is where the Emerging Developers Accelerator Program comes into play. Over the course of six months, we will bring together a group of promising women and developers of color to teach them the ins and outs of development. Topics will range from project feasibility and proforma, all the way down to zoning, construction and building a development team. With funding from JPMorgan Chase, we will provide learning sessions taught by local industry experts, along with access to networking and one-on-one consulting. At the conclusion of the program, participants will be eligible to apply to the Affordable Housing Trust for soft funding provided by the City of Columbus and Franklin County, as well as low-interest rate loans to build much needed housing.

The excitement and potential of what the EDAP can do is real. In addition to providing emerging developers with the tools to build more housing units throughout Central Ohio, the program will also help diversify and strengthen the local development industry. It creates a new ecosystem that expands beyond just program participants. When diverse developers have access to capital, those dollars trickle down to diverse contractors and small businesses living and working in the neighborhoods where housing will ultimately be built. Furthermore, we can address our housing supply issue by adding to the number of developers doing business in the industry, undoubtedly increasing the number of housing units we bring online for our community each year. Finally, traditional banking institutions can comfortably invest in vetted and capable developers that have often been overlooked, simultaneously addressing disparities within real estate development. The EDAP is a win for the entire community.

There is no greater time than now to invest in women and developers of color. They are interested, ready, and willing to help solve one of our community’s greatest challenges. We can’t let this moment pass.