EP 38: Talking Real Estate with Bill Jones, President – Bill Jones & Associates!
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Bill Jones has over thirty years of experience as the CEO or a senior executive in public and private real estate development organizations. He formed Bill Jones & Associates LLC, a Real Estate Development and Consulting Firm in 2001. The firm assists Not-for-profit and for-profit developers in the analysis, financing and implementation of their residential and commercial real estate projects. Prior to organizing his firm, he served simultaneously as Executive Director of the Fund for Community Redevelopment and Revitalization (the Fund) and the Woodlawn Preservation and Investment Corporation (WPIC), two community development corporations serving the Woodlawn and North Kenwood/Oakland on Chicago’s south side. One of his key accomplishments was the level of minority participation on his shopping center project. The 10M project achieved 67% minority participation and 62% minority workforce as certified by by the City of Chicago. Bill has developed over 1000 units of tax credit rental housing; 150 units of for sale affordable housing; 50 units of market rate for sale houses and a 4.7-acre shopping center. The initial tenants included: COOP Markets, a sixty year old cooperatively owned community grocery store, Walgreens, South Shore Decorating; a minority owned HomeImprovementCenter, Foot Locker, Citibank and other retail facilities. Six of the tenants are minority owned businesses and the center provides jobs to over three hundred community residents. Certified minority participation in the construction of the center was sixty-seven per cent of the construction contracts went to minority contractors and sixty-one percent of the payroll went to minorities. Mr. Jones played a leadership role in the planning and startup of Columbia Pointe; a seven block 140 home Planned Community’ on 63rd Street in Woodlawn. The project is a joint venture between WPIC and The Woodlawn Organization (TWO), and the Davis Group. This mixed income development was designed to transform a vacant commercial corridor and accelerate the transition of Woodlawn into an economically and socially integrated community. The first phase (28 Homes) was sold completely out the first weekend the sales center opened. Bill served as a Regional Program Vice President for the Local Initiatives Support Corporation (LISC), a National Non-Profit Intermediary. LISC provides debt and equity funding to Community Development Corporations in select communities across the country. In this role Bill served as Senior Credit officer for the Midwest and was responsible for the investment of over $75 million annually in real estate projects in Chicago, Kansas City, Houston, Kalamazoo, Detroit, Michigan Multi Cities, Milwaukee, Minneapolis/St. Paul and Duluth MN. Sites reporting to him represented 28% of the portfolio, they consistently represented over 40% of LISC output during six of Bill’s seven-year tenure. From 1981 to 1990 Bill was President of the Codman Square Housing Development Corporation, a leading community-based developer in Boston, Massachusetts. During his eight-year tenure, the HDC completed the development and construction/rehab of over 575 units of affordable rental and for- sale housing; and 30,000 square feet of commercial space. The total value of projects developed exceeded 55 million dollars. Community Service Bill served as a Trustee of the Abraham Lincoln Center (Past Chair); Board Member of the National Community Security Initiative Task Force of LISC; a member of the Regional Planning Committee of the Metropolitan Planning Council; and a director of the Illinois Facilities Fund. Prior to moving to Chicago, Bill was appointed by Governor Dukakis to serve as director on the boards of the: Massachusetts State Housing Finance Agency and Massachusetts Pension Reserve Investment Management Agency and the Massachusetts FAIR Plan. He also served as a director of the MHFA Pension Board. Other civic involvement includes: Citizens Housing and Planning Association (Past President), Founding Director Boston Housing Partnership, Founding Director National Equity Fund; Trustee of 12th Baptist Church in Boston, Massachusetts; and has served on numerous other boards and task forces in both Boston and Chicago. He is currently a member of the Apostolic Church of God in Chicago’s Woodlawn neighborhood. Mr. Jones holds a Master’s Degree in Education (concentration Business & Administration) from Cambridge College in Cambridge, Massachusetts; and Certificate of Completion from Massachusetts Institute of Technology, School of Real Estate Development Executive Training Program. He has received numerous awards and honors and was listed in the 100 Most Influential Blacks in Boston from 1986 – 1990.
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