In 2020, Freddie Mac introduced Develop the Developer, an innovative program inspiring reinvestment and development in historically underserved communities. Through this program, we strive to address critical national housing challenges: affordable housing supply shortage, gaps in knowledge and critical skills for aspiring real estate developers and In addition, the program offers mechanisms supporting connectivity and support within local markets and, most importantly, the disproportionate representation of women, Black, Indigenous and People of color (BIPOC) developers within the single-family and multifamily development industry.

To stimulate equitable and community-centric affordable housing supply, we have collaborated with local educational partners to build robust training curriculums and assemble technical assistance for aspiring developers through standardized Develop the Developer Academy (Academy) training opportunities in targeted markets. The Academy leads intensive 36-hour cohorts providing training in foundational development and financing instruction, technical assistance, community connectivity and access to funding sources for emerging developers.

Develop the Developer Academy offers the program through established academies integrated within local educational organization plans and program such as: SPARK CDI in Omaha, NE; and Tulsa Economic Development Corporation's (TEDC) re(Build) Tulsa plan in Tulsa, OK.

Since its launch, the Develop the Developer program has successfully graduated 72 developers through four cohorts.

Program Markets and Timelines Icon

Program Markets and Timelines

The Develop the Developer program is continuously evaluated for viability and effectiveness in target markets to analyze challenges and opportunities of scalability across the U.S. housing market.

October 2020 | Launched the first Develop the Developer Academy through SPARK Academy in Omaha, NE.

February 2022 | Launch the second Develop the Developer Academy through the TEDC’s re(BUILD) plan in Tulsa, OK. To tailor the curriculum to the local market, these developers received training on FORTIFIED RoofingTM.

Program Objectives Icon

Program Objectives

Revitalize communities

Increase the redevelopment activity in strategic markets by collaborating with property stewards, including land banks to expand training and business opportunities for emerging developers, under-represented BIPOC and female developers.

Increase affordable housing inventory

Collaborate with local stakeholders to redesign property disposition strategies and convert vacant properties into affordable housing units.

Train for future developments and localized investment

Provide development education to local BIPOC and female developers, who may not have access to similar knowledge and tools.

Identify sources of credit and funding

Foster connections to support developers with access to capital needed to fund projects, expand businesses and increase wages.

Facilitate industry collaboration

Enable access to mentor and professional network expansion to increase shared knowledge and prospects for development collaboration.

Community Value

Community Value

Build credible community resources

Empower traditionally underserved, emerging BIPOC and female developers with certified technical training to build credibility and connections, seek mentorship and begin development in their communities.

Elevate skillsets

Enhance aptitude while nurturing traditionally underserved, local BIPOC and female developers with a solid commitment to develop and revitalize local underserved areas.

Revitalize the community

Support historically underserved and communities of color by preserving neighborhoods, improving property values and increasing the number of new and refurbished affordable homes.

Promote equitable housing

Reduce the inequality of homeownership among traditionally underserved communities of color and advance equality and sustainable homeownership from within communities in need of revitalization.

Market Impact Icon

Market Impact

As of August 2022, the program has realized the following market and graduate impacts:

Graduate Development Plans Graduates Overview Development Capital Detail
Graduate Development Plans
  1. 16 active development projects. 75% of projects are single-family, yielding 70 new units.
    1. 100% of new single-family units are in majority-minority census tracts.
    2. 99% of single-family units are in redevelopment zones.
Graduates Overview
  1. 40% of graduates obtained ongoing project support from local providers post-graduation.
  2. Graduates come from a variety of backgrounds including community development staff, pastors, engineers, real estate agents, urban planners, accountants, entrepreneurs and business consultants.
Development Capital Detail
  1. Omaha graduates have secured $1.1M in land awards.
  2. Tulsa graduates have secured a $225M redevelopment project.
  3. Graduates have obtained $32.5M in grant funding and over $104M in new construction financing (Equivalent to 327 acres of land in Nebraska).
  4. Academy hosts have attracted over $2.5M in program continuance funding from sponsors.

For More Information

Connect with Cassandra Skidanov, senior affordable lending manager and a member of the Freddie Mac Housing Solutions team or contact the Customer Support Contact Center (800-FREDDIE) to learn more about the program.

Email: [email protected]
Phone: (571) 382 - 4048