Charlotte's Black Developers Discuss Industry Challenges and Successes
Charlotte’s Black Developers Face Challenges in a Changing Real Estate Landscape Three prominent Black real estate developers in Charlotte recently shared their experiences navigating an industry historically dominated by white males during the Sarah...
Black News 
Charlotte’s Black Developers Face Challenges in a Changing Real Estate Landscape
Three prominent Black real estate developers in Charlotte recently shared their experiences navigating an industry historically dominated by white males during the Sarah Stevenson Tuesday Forum. Their discussion highlighted both the progress being made and the persistent barriers within the sector.
Leaders in Development
The forum featured Todd Collins of Red Hill Ventures, Shawn Kennedy of Prosperity Alliance, and Bobby Drakeford of The Drakeford Company.
Collins’ firm operates across multiple states and is currently developing more than 1,000 apartment units near Charlotte’s Belmont neighborhood. Kennedy is leading a 39-unit townhome project in the Hidden Valley area and spearheading the redevelopment of the historic Excelsior Club. Drakeford, often referred to as the “godfather of Black developers” in Charlotte, continues to focus on projects that expand access to homeownership and wealth-building opportunities.
Gentrification and Ownership
Gentrification remains a central concern as rising rents and redevelopment continue to reshape Charlotte’s urban neighborhoods. Longtime Black residents are increasingly being displaced from areas they have historically called home.
Collins emphasized property ownership as a key strategy for combating displacement, sharing how a modest $15,000 investment in a Houston property eventually helped him build his development business.
Growth and Investment Success
Red Hill Ventures has seen measurable success in its projects, including the revitalization of East Town Market, where occupancy increased from 30% to over 90%.
The firm also recently acquired The Boardwalk at University City, which is undergoing renovations to attract new tenants and increase economic activity in the area.
Collins noted that Red Hill’s strategy of using its own capital provides greater flexibility and control over project timelines.
Workforce Challenges
Despite growth in development projects, the industry faces a shortage of skilled Black construction workers. Developers expressed a desire to work with Black-owned contractors but noted ongoing challenges in both availability and consistency.
Drakeford highlighted frustrations with resistance from general contractors and the need for stronger support systems for Black subcontractors.
Kennedy pointed to a lack of awareness among younger generations about skilled trades, emphasizing that careers in carpentry, plumbing, and similar fields can offer six-figure earning potential.
External Pressures
The developers also discussed the impact of recent Immigration and Customs Enforcement actions in Charlotte, which temporarily disrupted operations. While conditions have since stabilized, the situation underscored the vulnerability of the labor force that supports the construction industry.
Representation and the Future
Representation remains another key issue, particularly for Black women in real estate development. Collins highlighted Dionne Nelson of Laurel Street as a leading figure in affordable housing development.
He expressed hope that more Black women will enter the field, helping to expand diversity and leadership within the industry.
Looking Ahead
The forum discussion underscored the importance of ownership, investment, and community support in shaping Charlotte’s real estate future.
While challenges remain, the work of these developers reflects a broader effort to create equitable opportunities and ensure that Black communities remain integral to the city’s growth.
