Herenton announces Diversity Developer Incubator - WMC Action News 5 - Memphis, Tennessee

Herenton announces Diversity Developer Incubator

With three billion dollars invested in Downtown Memphis Development, Mayor Willie Herenton says there is still something missing: a diverse development team.

To fill that void, the mayor announced a new plan Tuesday called the Diversity Developer Incubator.

The plan will put more minorities and women into the downtown development mix. The city will do so by offering classes that educate participants on real estate law, software, finance, and sales.

Mayor Herenton joked about the progress made with this plan by bringing up his former days as a developer himself.

"All of this information on this document I didn't have, I learned the hard way; I didn't know how to put a development agreement together...I didn't know how you do a cost analysis, you got all of that now," Herenton said.

The program will consist of 13 classes and a final competition where the winner will develop a piece of property for the city of Memphis.

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