SitemapAccess to capital is one of the things Emerald City Construction owner Keland Logan has struggled with since starting his business in 2020. He believes an emerging developers training program, as recommended in a housing strategy study released last month, could help.
“My issue has been consistent opportunities that make this business sustainable,” Logan said. “Construction is a cash-heavy business. You do have to have a bank, so to speak – either have to have access to funds or hard capital that you can access to do the jobs that you want to bid on.” Emerald City, based in Austintown, has its Disadvantaged Business Enterprise certification, which qualifies the business for set aside opportunities.“But being able to access the resources to do these, you know, million dollar jobs, it still might as well be on the moon,” Logan said. He often struggles to compete – and to make a profit. “Having access to an entity or something that could help us to identify and become more proficient and effective would be huge,” Logan said.
The housing report was completed by the Greater Ohio Policy Center and the Reinvestment Fund and paid for by Eastgate Regional Council of Governments. The report said an emerging developers training program “would grow the ecosystem of local developers, builders, general contractors and subcontractors, expanding the region’s capacity to build.” The Mahoning Valley suffers from a lack of affordable housing that’s in good condition and meets the needs of the people who need it.
Spearheading It
Valley Partners is leading that recommendation’s implementation, but Theresa Miller, Valley Partners executive director, pointed out it’s early in the process. She said Valley Partners is working with an intern from Youngstown State University to research and determine what developers need. Part of Valley Partners’ mission is helping small businesses. Though affordable housing technically isn’t part of the mission, Miller said organization officials recognize affordable housing is required if jobs are going to be created. “It’s all connected,” Miller said.
The study listed several programs in the region that focus on emerging developer training or similar initiatives. Pittsburgh’s Centralized Real Estate Accelerator and Cleveland’s Contractors on the Rise are among them. And both have a Valley connection.
Other Programs
Presley Gillespie, the first executive director of the Youngstown Neighborhood Development Corporation, has been leading Neighborhood Allies for the past 10 years. Neighborhood Allies launched the Centralized Real Estate Accelerator in 2020.
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