Category Archives: Real Estate

Revisiting Red Summer: Bloodshed, Black Land, and the Battle for America’s Soil

“I had crossed the line. I was free; but there was no one to welcome me to the land of freedom. I was a stranger in a strange land.” – Harriet Tubman

Race riots or rural reckoning? The answer lies beneath the surface—and often beneath the soil itself.

In the blistering summer of 1919, the United States erupted in racial violence unlike anything the country had witnessed since Reconstruction. From Washington, D.C. to Chicago, from Norfolk to Omaha, from Knoxville to the cotton fields of Arkansas, more than three dozen cities and rural towns became sites of bloodshed as white mobs attacked African American communities with a ferocity that was, in many instances, organized, deliberate, and unrelenting. Historians dubbed it the Red Summer, invoking both the color of blood and the communist anxieties of the era. For more than a century, the dominant explanation has centered on racial tensions stoked by the Great Migration, post-war competition for jobs, and white anxiety over African American assertiveness. But a deeper, more unsettling question lingers beneath those textbook explanations: was Red Summer not merely about urban unrest or racial animosity, but about land?

That question has returned with renewed urgency in recent years, amid a widening reexamination of Black land ownership and its deliberate erosion over the past century. As calls for reparations grow louder and more specific, so too does the need to reassess the forces that helped decimate Black wealth and autonomy in America. And when Red Summer is placed in that context, it begins to look less like a spontaneous explosion of racial rage and more like the bloodiest chapter in a longer, quieter war — a war fought not only over race but over soil.

The idea that African Americans were only victims of economic exclusion in early 20th-century America is a distortion that history has been slow to correct. By 1910, African Americans owned more than 15 million acres of land, largely concentrated in the South. Black farmers — most of them formerly enslaved or their direct descendants — had managed to accumulate land against crushing odds, frequently purchasing it collectively, through church cooperatives, fraternal organizations, or from white landowners seeking to offload marginal plots. These holdings were not merely symbolic achievements. They were strategic infrastructure.

Land ownership among Black Americans was more than a pathway to individual wealth; it was a bulwark against white supremacy. Land meant food security, political leverage, and a degree of independence in a nation otherwise constructed around Black dependency and racial domination. In some areas of the South, land ownership translated into Black-majority townships and counties, Black-controlled local economies, and the fragile but real possibility of a parallel civic sovereignty. Black landowners could vote with greater difficulty for whites to suppress. They could withhold labor. They could resist eviction. They could educate their children. They were, in a word, ungovernable in ways that landless sharecroppers were not.

African Americans were not simply asking for equality; in some places, they were building it. And that may have been the greatest threat of all.

Virginia-born coachman Thomas A. Dillon and his wife, Margaret, a domestic servant and native of Newton, Massachusetts, pose in the parlor of their home at 4 Dewey Street with children Thomas, Margaret, and Mary in 1904.

Nowhere is the link between land and lethal violence more clearly illustrated than in the massacre at Elaine, Arkansas — one of the deadliest and least discussed events of the entire Red Summer. On the night of September 30, 1919, African American sharecroppers gathered in a church in Phillips County to organize a union, the Progressive Farmers and Household Union of America. Their goals were modest by any democratic standard: they wanted transparent accounting from the plantation owners who controlled the cotton market, an end to the rigged ledger systems that kept sharecroppers in perpetual debt, and the ability to sell their crops independently on the open market. It was a meeting about fair contracts, not rebellion. What descended upon them was a massacre.

White mobs, augmented by federal troops dispatched from Little Rock, swept through the area for days. An estimated 100 to 200 Black men, women, and children were killed, though the official tallies — sanitized for public consumption — counted only a handful of white deaths and labeled the episode a Black insurrection. The real insurrection was economic. The plantation economy of the Delta had been built on the enforced ignorance and powerlessness of its Black labor force. If Black sharecroppers could collectively organize, access fair markets, and demand accurate accounting, some of them might eventually become landowners themselves. That possibility — not armed revolt — was what the white establishment could not tolerate.

The Elaine massacre exposed a hidden economic architecture underlying Southern racial terror. Violence was not just an expression of hatred; it was a tool of market control. When the ledger failed to keep Black workers in debt, the mob stepped in. When the law was too slow, the rifle arrived first.

Though most of the events of Red Summer are framed through an urban lens — riots in Chicago, Washington, and Knoxville dominating the historical imagination — the violence cannot be disentangled from broader efforts to contain and reverse Black economic advancement. Indeed, many of the African Americans who had migrated to Northern cities were themselves displaced farmers or sharecroppers whose rural land ownership efforts had been stymied, swindled, or literally burned to the ground. The Great Migration was not only a story of aspiration; it was also a story of flight.

In Chicago, where violence erupted in late July after a Black teenager named Eugene Williams drowned after being struck by stones thrown by white men when he accidentally drifted past an informal racial boundary in Lake Michigan, the precipitating incident masked deeper structural conflicts. African Americans had begun purchasing homes and moving into previously all-white neighborhoods. Black entrepreneurs were opening businesses. The color line in Chicago was not just social — it was economic, and it was being crossed. What followed Williams’s death was a week of brutal violence that left 38 people dead and more than 500 injured. The riot was sparked by a beach dispute, but what it expressed was white terror at the prospect of Black economic mobility in the urban North.

Property rights were at the center of the Chicago conflict in ways that have only grown clearer with time. Redlining would not be formalized by the federal government until the 1930s, but the ideology animating it — that Black habitation diminished property values, that Black ownership was a form of invasion — was already operating through mob violence in 1919. White homeowners’ associations, some of which had explicitly bombed Black homes in the years leading up to the riot, continued their campaigns of intimidation with renewed license after the summer’s bloodshed. The message was consistent whether it came from the Delta or the Midwest: African Americans had no rightful claim to the land, whether in field or neighborhood.

What made Red Summer different from previous episodes of racial terror, and what made it so culturally resonant, was that it came at a moment when African American self-determination was not just a dream but a demonstrable reality. The years surrounding World War I had seen an extraordinary flowering of Black institutional life: newspapers like the Chicago Defender and the NAACP’s Crisis magazine reached hundreds of thousands of readers; the Universal Negro Improvement Association under Marcus Garvey was drawing mass followings with its message of African sovereignty; and Black veterans returning from the battlefields of France, having fought for democracy abroad, were unwilling to accept its absence at home. Many of these veterans would become central figures in the armed resistance that communities mounted against white mobs in 1919. They met violence with violence, and the White establishment found the combination of Black assertiveness, Black organization, and Black land deeply alarming.

The economic threat extended well beyond individual plots of farmland. In Tulsa, Oklahoma — whose 1921 Greenwood massacre falls just outside the official boundaries of Red Summer but belongs to the same continuum of violence — an entire district of Black economic life was leveled. Greenwood, known as Black Wall Street, was home to hundreds of Black-owned businesses, banks, law offices, and hotels. It was the product of deliberate community investment and collective self-determination. When white mobs descended in May 1921, aided by the Tulsa Police Department and private aircraft that reportedly dropped incendiary materials on the district, they did not merely kill people. They destroyed an economic ecosystem that had taken a generation to build. The land was seized. The insurance claims were denied. The neighborhood was never fully restored.

The pattern repeated itself, with local variations, across decades. What Red Summer initiated, the legal and bureaucratic infrastructure of mid-20th century America codified. Heirs’ property laws — in which land passed down without a formal will became jointly owned by all descendants — rendered Black landholdings acutely vulnerable to partition sales. A developer or speculator who purchased a single heir’s fractional share could force the sale of the entire property, often at below-market prices, with no recourse for the remaining family members. These laws, ostensibly race-neutral, operated with devastating specificity against Black families whose distrust of white legal institutions, forged over generations of documented fraud and violence, led them to avoid formal probate processes.

The federal government was often a direct participant in dispossession. The United States Department of Agriculture systematically denied Black farmers access to loans and subsidies that were extended routinely to their white counterparts. From the New Deal agricultural programs of the 1930s through the farm credit crisis of the 1980s, Black farmers were excluded, underfunded, and allowed to fail at rates far exceeding their white peers. In 1999, the Pigford v. Glickman class action settlement acknowledged decades of discriminatory lending by the USDA and resulted in payouts to tens of thousands of Black farmers — but by then, most of the land was already gone.

Numbers are beyond staggering in their finality. African Americans owned approximately 15 to 19 million acres of land at the peak of Black land ownership around 1910. By 1997, that figure had collapsed to fewer than 2 million acres — a loss of nearly 90 percent over the course of a single century. The USDA itself acknowledged that this loss was not driven solely by economic forces. Discrimination, fraud, violence, and legal manipulation played decisive roles in transferring land from Black families to white institutions and individuals.

The state of Black land ownership in America today reflects the accumulated weight of that century of dispossession. African Americans currently own less than 1 percent of rural land in the United States, despite constituting approximately 14 percent of the national population. In the South, where Black land ownership once represented a genuine counter-economy, the erasure is especially pronounced. In Mississippi, Alabama, and Georgia — states where Black farmers built substantial holdings after Emancipation — Black land ownership has been reduced to a thin remnant. Entire family lineages have been severed from the soil their ancestors purchased with freedom wages, war bonuses, and borrowed hope.

Consequences extend far beyond sentiment. Land is the primary vehicle through which intergenerational wealth is transferred in the United States. Home equity and real property account for the majority of household net worth for most American families. The racial wealth gap — the persistent, yawning disparity between Black and white household wealth, which current estimates place at a ratio of roughly 1 to 8 — cannot be understood without accounting for the systematic denial of land and property rights to African Americans. Every generation of a Black family that was driven from its land, or swindled out of it, or watched it seized through partition sale or eminent domain, is a generation that could not pass on the compounding advantages of ownership. The wealth gap is not an accident of markets. It is the arithmetic of dispossession.

Contemporary efforts to address this reality operate at the margins of what is needed. Organizations like the Federation of Southern Cooperatives, founded in 1967, have worked for decades to help Black farmers retain land through legal assistance and cooperative economics. The Land Loss Prevention Project in North Carolina has challenged fraudulent partition sales and helped heirs navigate probate processes designed for a legal culture that was never built with them in mind. The Black Farmers Fund and similar initiatives provide capital and technical assistance to a dwindling population of Black agriculturalists. In 2021, Congress included provisions in the American Rescue Plan Act to provide debt relief to socially disadvantaged farmers — provisions that were subsequently challenged in federal court by white farmers who argued that race-conscious relief violated the Equal Protection Clause, a stunning inversion of the history that made such relief necessary.ve increasingly focused on this disparity. But to properly assess the scale of restitution, history must be rewritten to acknowledge not just the loss of life, but the loss of land. If Red Summer is reframed as a land war not only a race war, then it demands a different response.

Programs such as the Black Farmers Fund, the Federation of Southern Cooperatives, and the work of legal nonprofits like the Land Loss Prevention Project have begun to claw back some ground. Yet without a federal reckoning one that links racial violence to economic theft the narrative remains incomplete.

Reparations proposals have increasingly focused on land as the foundational unit of redress. Scholars like Thomas Mitchell, who pioneered the Uniform Partition of Heirs Property Act — now adopted in more than a dozen states — have worked to close the legal loopholes that enabled generations of Black land theft. Others have proposed direct federal land grants or land trusts as a more durable form of repair than cash payments alone. The argument is both pragmatic and historical: if land was what was taken, land is what must be restored.

But to make that argument with the force it deserves requires an honest reckoning with Red Summer as something more than a riot. It requires understanding 1919 not as an aberration but as an acceleration — the moment when informal systems of racial violence were enlisted on a national scale to reverse Black economic progress. The targets were not random. They were selected. Churches where sharecroppers organized were burned. Prosperous Black neighborhoods were razed. Landowners were murdered and their deeds contested in their absence. The land did not transfer by accident. It was taken by design, and the taking was protected, in county courthouses and federal offices alike, for decades afterward.

Malcolm X once observed that land is the basis of all independence. He was not speaking metaphorically. He was speaking from a tradition of Black political thought that understood, from Reconstruction onward, that the promises of American citizenship were hollow without the material foundation that land provides. The freedpeople who demanded forty acres understood this. The sharecroppers of Elaine who organized for fair prices understood it. The Greenwood entrepreneurs who built Black Wall Street understood it. And the white mobs, the plantation owners, the local sheriffs, the federal troops, and the discriminatory bureaucracies that systematically dismantled what Black Americans built — they understood it too.

Red Summer was not simply a spasm of postwar bigotry, nor an understandable if deplorable expression of racial anxiety. It was a calculated and coordinated assertion of dominance over a people who were, against every structural obstacle, building something that looked like sovereignty. The violence of 1919 did not emerge from nowhere, and it did not end with the cooling of summer temperatures. It opened a door that the legal and economic machinery of the 20th century walked through for decades, quietly completing the dispossession that the mobs had begun.

In the end, Red Summer may be remembered not only for its flames but for the fertile ground those flames sought permanently to char. It was not only a summer of blood. It was a war over soil — and the aftershocks of that war continue to shape the contours of American inequality today, in the wealth gaps, the landlessness, the severed inheritances, and the unanswered demands for repair that echo across every serious conversation about racial justice in this country.

📅 Visual Timeline: The Red Summer of 1919

April 13, 1919 – Jenkins County, Georgia

A violent confrontation erupts in Millen, Georgia, resulting in the deaths of six individuals and the destruction of African American churches and lodges.

May 10, 1919 – Charleston, South Carolina

White sailors initiate a riot, leading to the deaths of three African Americans and injuries to numerous others. Martial law is declared in response.

July 19–24, 1919 – Washington, D.C.

Racial violence breaks out as white mobs attack Black neighborhoods. African American residents organize self-defense efforts.

July 27–August 3, 1919 – Chicago, Illinois

The Chicago Race Riot begins after a Black teenager is killed for swimming in a “whites-only” area. The violence results in 38 deaths and over 500 injuries.

September 30–October 1, 1919 – Elaine, Arkansas

African American sharecroppers meeting to discuss fair compensation are attacked, leading to a massacre where estimates of Black fatalities range from 100 to 800.

October 4, 1919 – Gary, Indiana

Racial tensions escalate amid a steel strike, resulting in clashes between Black and white workers.

November 2, 1919 – Macon, Georgia

A Black man is lynched, highlighting the ongoing racial terror during this period.

Disclaimer: This article was assisted by ClaudeAI.

A Second Wind for Old Strips: Why HBCU Alumni Should Rethink Vintage Retail Centers

“We don’t need to break ground to build power. Sometimes we just need to reclaim it.” – HBCU Money

In the 1990s and early 2000s, no suburban corner in America seemed complete without a modest retail strip: a nail salon, dry cleaner, small grocer, and maybe a local pizza joint. These seemingly unremarkable centers were the backbone of everyday commerce. Then came e-commerce, big box expansions, and shifting consumer behavior. The strip center fell out of fashion until now.

Today, those vintage retail strip centers are experiencing a renaissance. Commercial real estate investors, faced with skyrocketing construction costs and restrictive lending environments, are rediscovering the power and profitability of renovating existing assets. For HBCU alumni investors looking to blend stable returns with community impact, this moment presents a rare convergence of opportunity, efficiency, and cultural relevancy.

The Math Behind the Momentum

Construction costs for new retail buildings are ballooning. Estimates now range from $250 to $300 per square foot for ground-up construction sometimes higher in urban markets. At those prices, generating attractive returns is difficult unless you’re building luxury, destination retail with national anchor tenants. That’s not where the market is heading.

Instead, investors are realizing they can acquire and renovate vintage strip centers typically 20 to 40 years old for far less than the cost of new construction. Many are structurally sound but aesthetically dated or functionally obsolete. These properties often sit on prime real estate near transportation corridors, residential growth areas, or college campuses including HBCUs.

When repositioned with the right tenants, lighting, signage, and facades, vintage centers can achieve competitive rents without incurring the deep capital exposure of new construction. They offer a rent-to-cost ratio that works, especially in secondary and tertiary markets where demand for accessible neighborhood retail remains strong.

A Platform for Black Wealth Creation

For HBCU alumni who have traditionally been boxed out of Class A urban development deals, vintage strip centers represent an asset class that is:

  • Financially accessible
  • Culturally significant
  • Commercially viable

Most importantly, these assets can serve as anchors for Black-owned businesses, co-ops, and cultural hubs. While institutional investors often chase high-profile multifamily or office deals, retail strip centers in historically Black communities or near HBCUs are often overlooked providing a wedge for local or regional investors to step in.

A well-structured renovation project led by an HBCU graduate could transform a decaying strip into a vibrant ecosystem of barbershops, cafés, health providers, financial institutions, and coworking spaces all backed by the community, for the community.

Deferred Maintenance as Opportunity, Not Obstacle

Critics of strip centers often cite “deferred maintenance” as a red flag. And it’s true—many of these assets come with leaky roofs, outdated HVAC systems, and non-compliant ADA access. But that doesn’t make them unviable. It makes them undervalued.

Roof replacements, ADA compliance upgrades, lighting retrofits, parking lot resurfacing—these are all predictable costs that can be priced and phased. Investors willing to do their homework (or partner with experienced contractors) can use these improvements to negotiate purchase price reductions while still bringing total project costs well below new-build levels.

The essential formula is: fix what’s failing, elevate what’s usable, reimagine what’s tired. A fresh coat of paint and new signage can do wonders. Add in a few placemaking enhancements—like patio seating, bike racks, or public art and you’ve turned an afterthought into a destination.

The Tenant Mix Advantage

Unlike enclosed malls or big-box centers, strip malls thrive on tenant diversity and flexibility. This is where Black investors especially HBCU alumni with deep community ties—can bring unique vision.

Think beyond the nail salon and dry cleaner. Consider:

  • Black-owned coffee shops sourcing from Black farmers
  • Culinary incubators for emerging chefs and caterers
  • Financial coaching centers led by HBCU grads
  • Community health or dental clinics with wellness services
  • Retail cooperatives selling goods from multiple local makers

HBCU alumni investors can fill these strips not just with tenants, but with mission-aligned entrepreneurs. Lease agreements can include mentorship opportunities, cooperative ownership structures, or tenant improvement allowances tied to hiring local workers.

With a thoughtful mix, even a 20,000–30,000 square foot strip center can become an engine of neighborhood stability, economic inclusion, and generational wealth transfer.

Location, Location, Relevance

Vintage strip centers often sit on some of the most undervalued land in America. Many were built decades ago when zoning was looser, and land was cheaper. As communities grow outward and younger generations seek walkable, mixed-use environments those same centers are suddenly back in the middle of activity.

For HBCU alumni, the opportunity is even more focused. There are dozens of strip centers within walking or driving distance of HBCU campuses. Whether it’s off-campus student housing, faculty neighborhoods, or alumni communities, there is demand for:

  • Local dining and services
  • Affordable, accessible retail
  • Safe, well-lit gathering places
  • Commercial space for alumni-owned businesses

These are not Class A trophy assets, but they don’t need to be. They need to be functional, familiar, and forward-looking.

Risk and Repositioning

Of course, this isn’t a silver bullet. Not every vintage strip is a diamond in the rough. Investors must do real due diligence:

  • Structural Integrity – Always get a full building condition report. It’s the difference between a renovation and a rebuild.
  • Zoning Compliance – Changing use (i.e., turning part of a center into residential or entertainment space) may trigger zoning complications or code upgrades.
  • Environmental Reviews – Gas stations, dry cleaners, and auto shops may have left behind soil contamination. Budget for testing and potential remediation.
  • Tenant Rollover – Inheriting a strip with long-term leases at below-market rents may limit your flexibility.

But with risk comes return. A well-executed repositioning can yield cap rates of 7–9%, with additional upside through refinancing or disposition within 5–10 years.

Financing the Vision

Vintage retail projects are easier to finance than new builds but only if you approach the right lenders. Here’s where HBCU alumni can get creative:

  • CDFIs – Community Development Financial Institutions are often more flexible when the project has community benefits.
  • Opportunity Zones – Many vintage retail corridors are located in federally designated OZs, allowing access to tax-advantaged equity.
  • Historic Preservation Tax Credits – If the building qualifies, you may be eligible for 10–20% of renovation costs back in tax relief.
  • Municipal Partnerships – City economic development departments may offer grants, façade improvement programs, or forgivable loans.
  • Alumni Co-Investment Funds – Organize real estate investment clubs or syndicates among HBCU alumni. Use shared mission as shared capital.

A New Generation of Ownership

The big question isn’t whether vintage strip centers are viable. The question is: who will own them?

Will they be scooped up by private equity firms chasing yield? Or will HBCU alumni seize the chance to claim, restore, and transform these assets into hubs of Black entrepreneurship and economic mobility?

Real estate has always been about timing and this is the moment.

If we don’t buy the land, we don’t control the future. But if we do—wisely, collectively, strategically—then a strip center in the shadow of an HBCU can become the foundation of a Black economic dynasty.

Bottom Line

Old retail centers aren’t just retail they are real estate that still works. And right now, they’re one of the most underrated opportunities in commercial real estate.

With vision, planning, and mission-driven capital, HBCU alumni can turn tired retail into thriving centers of community wealth. Not every asset class allows you to be both landlord and legacy builder. But this one does.

The future isn’t always new. Sometimes, it’s renovated.

Disclaimer: This article was assisted by ChatGPT.

Powell’s Precarious Position: What HBCU Real Estate Investors Must Prepare For

“Real estate power does not wait on political peace—it plans around it.”HBCU Money

In commercial real estate, calm markets are often a prerequisite for aggressive growth. When volatility creeps in—especially from policy uncertainty—wise investors do not panic, but they do reposition. As rumors swirl that Federal Reserve Chair Jerome Powell may be removed from office before the end of his term, the CRE market is already baking in disruption. For HBCU alumni who invest in real estate, this moment demands attention, strategy, and foresight.

Although Powell’s official term runs through May 2026, and he can technically serve until 2028, market insiders are moving as if his exit could happen sooner—possibly under a second Trump administration. On July 17, GlobeSt.com reported that commercial real estate markets are increasingly factoring in political risk, with deal structures, loan pricing, and capital flows tightening ahead of any actual policy change.

For HBCU alumni who have spent years assembling rental portfolios, developing mixed-use properties, or backing Opportunity Zone projects near campuses, this isn’t abstract economic theory. This is cash flow, cap rates, and leverage dynamics in real time.

The Federal Reserve controls interest rates, liquidity, and lending standards—the lifeblood of commercial real estate. But the Chair also shapes expectations. Even the perception of instability at the Fed causes lenders to pull back and investors to reprice assets.

Jerome Powell has been seen as a steady hand, even when unpopular. His cautious rate policy—especially amid post-pandemic inflation—kept CRE markets from overheating or crashing. But if he’s ousted or disempowered, markets may expect more aggressive rate cuts under political pressure, a weakening dollar complicating international investment and supply chain costs, and a loss of institutional independence introducing a political lens into every Fed decision.

For HBCU alumni real estate investors, it means more volatile borrowing costs, reduced predictability in returns, and a need to re-evaluate how aggressively to pursue expansion or refinance.

Lenders are tightening up—and they are doing so before Powell is removed. That should concern anyone whose real estate model is sensitive to capital cost.

Bridge and construction loans are becoming harder to secure without pristine credit and higher equity injections. Cash-out refinances—especially for small portfolios—are being capped or delayed altogether. Development deals in low-income communities (where many HBCU graduates invest as a mission) are being scrutinized harder or shelved entirely.

As one investment banker told GlobeSt, “We’re seeing deals priced as if Powell’s out in six months, and we’re living in a very different rate environment.” It’s not a prediction—it’s a hedge. And HBCU alumni need to do the same.

If you’re invested in—or considering entering—any of the following CRE asset classes, Powell’s fate may shape your returns:

CRE SectorRisk From Fed Instability
MultifamilyRising rates hurt acquisitions and refinancing; rent growth may not keep up with cost of capital
RetailAlready under pressure from e-commerce; volatile rates shrink tenant pool and landlord leverage
HospitalityHeavily exposed to economic cycles; refinancing becomes challenging if Fed turmoil hits
Industrial/LogisticsGenerally stable, but price compression expected if Fed credibility drops
Development ProjectsMost vulnerable—cost of capital, input inflation, and credit availability all in flux

HBCU alumni often favor multifamily and mixed-use in urban corridors. That makes preparation even more critical.

Let’s be clear: instability in the Fed disproportionately hurts Black real estate investors.

Less institutional capital backing Black developers means higher reliance on bank debt. Lower net worth and liquidity reserves can make it harder to endure tightened credit cycles. Projects in historically Black neighborhoods—often underinvested already—face greater scrutiny from conservative lenders during uncertain times. And Black investors are more likely to reinvest locally, meaning pullbacks hit community wealth and revitalization efforts harder.

If you’re financing student housing near Howard, renovating a historic property near Southern, or redeveloping land near Fort Valley State, you may suddenly find banks “reassessing” your application—not because of your deal, but because of Washington.

HBCU alumni have a legacy of building through adversity. This moment demands no less. Key investor moves right now include:

Renegotiate your debt terms while rates are still predictable. If your loans mature in 2026 or 2027, the window to lock in current rates or secure extensions is closing. Powell’s tenure—and potential replacement—will shape forward rate curves. Beat the volatility while you still can.

Shift to fixed-rate debt. Adjustable-rate debt was cheap two years ago. Now it’s a ticking time bomb. Consider refinancing into fixed-rate debt, even at a slight premium, to gain stability and prevent future cash flow disruptions.

Expand your lender relationships. Do not depend on one or two institutions. Build ties with Black-owned banks, CDFIs, and credit unions aligned with HBCU values. These institutions may have more mission-aligned flexibility if traditional banks tighten up.

Build a liquidity cushion. Discipline now prevents desperation later. Liquidity is the real hedge during economic uncertainty—especially if tenants default, contractors raise costs, or refinance windows close.

Delay discretionary projects. This is the time to tighten pro formas, not push for maximum leverage. If a deal still pencils at 9% debt, proceed. If it only works at 6%, wait.

Pool capital. Use alumni associations and real estate clubs to form investment syndicates. One investor may get denied a $5M deal. Five alumni together might get approved for $25M. Leverage unity, scale, and relationships.

Crisis also presents acquisition opportunities. There will be distressed sellers needing to offload assets quickly, developers unable to complete projects, and landlords who can’t refinance expiring loans. HBCU alumni, especially those with capital or credit, should keep an eye out. Joint ventures among alumni can create scale and deploy capital when others retreat. Use this time to buy smart, not fast.

Beyond Powell himself, it’s the Fed’s credibility that gives investors confidence to commit capital to 10–30 year projects. If a new Chair appears beholden to political pressure, markets may price in new risks to long-term bonds, accelerate inflation fears, and depress asset values. That would slow not just your next project—but the next generation’s.

That is why HBCU alumni must take this seriously, not just as investors—but as stewards of intergenerational wealth.

HBCU institutions also have a role to play. They can create alumni investment syndicates that provide deal flow and capital. They can offer discounted land or property near campus to alumni developers. They can develop relationships with mission-driven lenders and introduce alumni projects for financing. And they can host economic briefings and real estate strategy sessions to keep their alumni sharp and agile in rapidly changing markets.

Colleges like Tuskegee, Texas Southern, and FAMU have alumni who are reshaping skylines. These institutions must recognize this as an extension of their impact—and protect it.

The Federal Reserve Chair is not a figurehead. Powell’s potential removal would represent a seismic shift in economic planning—especially for real estate. For HBCU alumni, many of whom have built their portfolios in the shadows of systemic exclusion, the message is clear: this is not a time to panic—but it is time to prepare.

Build alliances, lock in rates, stockpile liquidity, and be ready. The future of our neighborhoods, our campuses, and our financial independence will be shaped by how we respond to this moment.

And if the rest of the market goes quiet, remember: Black investors have never needed perfect conditions to build power—we’ve just needed a plan and each other.

Disclaimer: This article was assisted by ChatGPT.

Why 1890 HBCUs Must Develop A Joint Tree Nursery: Sowing Legacy, Profit, and Power

“Since new developments are the products of a creative mind, we must therefore stimulate and encourage that type of mind in every way possible.” – George Washington Carver

The 1890 Land-Grant HBCUs were created not out of generosity but from segregation. And yet, over 130 years later, these institutions have carved out vital roles in agricultural education, food systems innovation, and land stewardship within the African American community. With the ever-growing climate crisis, shrinking agricultural landholdings for African Americans, and a glaring need for sustainable economic engines, the case for a joint tree nursery among the 1890 HBCUs is less an idea and more an imperative. The time for silos is over. A joint nursery would allow the 1890s to consolidate resources, amplify research, and plant the seeds—literally and economically—of a new generational legacy.

The Decline of African American Landownership and Ongoing Discrimination

In 1910, African Americans owned between 16–19 million acres of farmland. The years around this period would also see the Red Summer of 1919, when African Americans were violently targeted and lynched—many as punishment for owning land and asserting agency. Today, that number has dwindled to just 5.3 million acres as of 2022, according to the USDA’s Census of Agriculture, representing less than 0.6% of all U.S. farmland.

The decline is not just the result of economic shifts—it is the result of orchestrated policies and racially motivated practices. From the USDA’s long-standing discriminatory loan denials to heirs’ property laws that have gutted intergenerational land transfer, the path of African American landownership has been riddled with legal landmines. The Pigford v. Glickman settlement acknowledged this in part, but much of the damage remains.

The 2022 USDA Census also shows that Black producers make up just 1.4% of all U.S. farmers and generate only 0.5% of all farm-related income. These are not just agricultural figures—they are a ledger of institutional neglect.

A tree nursery jointly stewarded by the 1890 HBCUs could serve as a bulwark against further erosion. It would offer seedlings, training, and enterprise development that support African American landowners, reinforcing land retention, sustainable usage, and intergenerational economic viability.

Political Hostilities Facing HBCUs

Despite their vital role in education, research, and community development, HBCUs—especially 1890 land-grant institutions—have faced persistent political and financial challenges. These institutions continue to experience disparities in state and federal funding compared to predominantly white institutions (PWIs). Some of the key political hostilities facing HBCUs include:

  • Underfunding and Resource Disparities: Many 1890 HBCUs receive significantly less funding than their 1862 land-grant counterparts. Studies have shown that some states fail to allocate matching funds as required by federal law, putting HBCUs at a financial disadvantage.
  • Legislative Attacks on DEI Initiatives: In recent years, political efforts to limit diversity, equity, and inclusion (DEI) programs have targeted HBCUs and other minority-serving institutions. These measures threaten scholarship opportunities, faculty recruitment, and student support services.
  • Land-Grant Inequities: Unlike 1862 land-grant universities, 1890 HBCUs were historically excluded from receiving direct land allocations, resulting in fewer resources to develop agricultural research and extension programs. This inequity continues to hinder the growth of HBCU-led agricultural initiatives.
  • Institutional Wealth Gap: A stark difference exists between the endowments of 1890 HBCUs and their 1862 counterparts. Many 1862 land-grant universities have endowments in the billions, while 1890 HBCUs often operate with significantly smaller financial reserves. This gap limits their ability to invest in infrastructure, research, and large-scale agricultural projects. By collaborating, 1890 HBCUs can leverage collective resources to overcome these financial disparities.
  • Bureaucratic Challenges in Federal Funding: While the federal government provides grants and research funding for HBCUs, bureaucratic red tape often delays disbursement, limiting their ability to expand programs and infrastructure.
  • Hostile Political Climates in Some States: Certain state governments have attempted to merge or close HBCUs under the guise of budget cuts, despite the institutions’ strong academic contributions. These efforts undermine the historical and cultural significance of HBCUs in providing equitable education.

By establishing a joint tree nursery, 1890 HBCUs can leverage collective power to secure funding, build partnerships, and showcase the tangible benefits of investing in Black-led agricultural and environmental initiatives.

Benefits of Developing a Joint 1890 HBCU Tree Nursery

Environmental Sustainability and Climate Change Mitigation

Deforestation and land degradation disproportionately affect African American communities, contributing to environmental injustices such as poor air quality and increased vulnerability to natural disasters. A joint tree nursery among all 1890 HBCUs would:

  • Provide seedlings for reforestation projects in Black-owned lands and underserved communities
  • Help mitigate climate change by sequestering carbon dioxide through afforestation and agroforestry initiatives
  • Promote soil conservation and reduce erosion, particularly in the South, where agricultural practices have historically led to soil depletion

Economic Empowerment and Job Creation

A tree nursery initiative would not only benefit HBCU students and faculty but also offer economic opportunities to local landowners. Potential benefits include:

  • Revenue Generation: HBCUs can sell tree seedlings to farmers, municipalities, and reforestation programs, creating an additional income stream
  • Employment Opportunities: These nurseries can provide jobs for students, alumni, and community members in nursery management, forestry, and agribusiness sectors
  • Support for Black Farmers: Providing affordable seedlings and training on agroforestry practices can help African American landowners diversify their income and maximize land productivity

The Economic Benefits of the Timber Industry

The timber industry presents a lucrative opportunity for African American landowners and HBCUs. A joint tree nursery can serve as a foundation for engaging in sustainable forestry and timber production. Some key economic benefits include:

  • High Market Demand: The U.S. timber industry generates over $300 billion annually, with growing demand for sustainable wood products in construction, paper, and bioenergy sectors
  • Long-Term Investment: Timberland is a valuable asset that appreciates over time, providing generational wealth-building opportunities for Black landowners
  • Carbon Credit Market: African American landowners can participate in carbon credit programs by managing timberlands for carbon sequestration, receiving financial incentives for maintaining forests
  • HBCU Forestry Programs: Expanding forestry education at HBCUs can produce a new generation of Black professionals in timber management, conservation, and agribusiness
  • Sustainable Agroforestry: Integrating tree farming with traditional agriculture can enhance soil health, improve biodiversity, and create additional revenue streams for small-scale farmers

Enhancing Agricultural Education and Research

Many 1890 HBCUs already have robust agricultural programs. Establishing a joint tree nursery would further enrich their curricula by:

  • Offering hands-on training in silviculture, agroforestry, and nursery management
  • Creating research opportunities in sustainable land management, biodiversity conservation, and climate resilience
  • Facilitating collaborations with government agencies, non-profits, and private sector partners in reforestation and urban greening initiatives

Cross-Institutional Leverage: Strength in Numbers

A joint venture allows for economies of scale. Rather than every 1890 HBCU creating a small, under-resourced nursery, a consortium-based model allows for regional specialization and centralized management. One school could lead genetic research, another logistics, and another economic modeling. By specializing within the larger system, each institution contributes to a whole far greater than its parts.

Shared governance would also model cooperative economics for students and landowners alike—an important lesson in collective power for African American institutions that have long been made to compete rather than collaborate.

Community Wealth Building

The ultimate beneficiaries of this nursery aren’t just students or the HBCUs themselves—but the millions of African American families with access to underutilized or at-risk land. With the right training, seedlings, and partnerships, that land can be revitalized. It can produce not only timber but herbs, fruits, shade, and carbon credits.

The nursery becomes the beginning of a longer story—of community land trusts, green business corridors, and intergenerational financial literacy built around land-based wealth.

Seeding Sovereignty: A Strategic Call to Action

Developing a joint tree nursery among all 1890 HBCUs is more than an agricultural endeavor. It is an act of economic strategy, cultural restoration, environmental justice, and institutional collaboration. It’s about controlling the seed, the soil, and the story.

HBCUs have always been tasked with doing more with less. The joint nursery is an opportunity to do more—together—and build an enduring institutional asset rooted in cooperation, conservation, and community wealth.

Moreover, this initiative holds symbolic power. In the act of planting trees, 1890 HBCUs will be planting legacy—sending a signal that African American institutions are prepared not only to survive hostile economic climates, but to thrive through collective will. Trees are not short-term investments; they require long-term vision, care, and commitment—just like the kind of intergenerational institution-building African America must embrace.

The nursery would also be an anchor institution for Black innovation in climate tech, agroforestry finance, and regional ecosystem services. The act of growing trees connects economics with ecology, and by anchoring that process within the halls and lands of 1890 HBCUs, we bring knowledge production, carbon markets, and green workforce development under African American institutional ownership.

This is more than sustainability—it is sovereignty. The type of sovereignty that rewrites narratives around Black land loss, economic disempowerment, and environmental marginalization. In a future where climate, capital, and culture will increasingly intersect, the 1890 HBCUs must see a joint tree nursery not as a boutique project but as a national imperative rooted in Pan-African strategy and local resilience.

The seeds of sovereignty are ready. The land is waiting. The only question is whether the institutions tasked with leading our communities into the future will plant now, or later—when the cost of delay may be too great to bear.

Norfolk State University Alumna & Community Banker Carla Holmes Discusses The History Of Black Homeownership

The ache for home lives in all of us, the safe place where we can go as we are and not be questioned. Maya Angelou

African American homeownership (pictured below) has never breached above 50 percent. Ever. According to HBCU Money data, it would take $14.7 billion in down payments for African American homeownership to just reach 50.1 percent. This is assuming that those 900,000 African American households would only be using FHA at 3.5 percent down. A debatable matter on the risk side that such low down payments would pose to households should the real estate market turn against them in the early years of their ownership. The $14.7 billion could decrease given the geography of African Americans being predominantly focused in the southeastern United States where homes on the whole are cheaper than much of the rest of the country. Using the southeastern median home price in fact would drop the $14.7 billion down to $12.3 billion. How big is this number? African American owned banks (what is left of them) only hold $4.3 billion in assets combined. The approximately 100 remaining HBCUs have combined endowments of around $3 billion. There are 44 people (none of which are African Americans) on the Forbes 400 who are individually worth more than $14.7 billion.

The causes of this are many, but the impact of it has been extremely pointed. In a country where homeownership has significant social and economic value to a group, African Americans have largely been starved of the social and economic oxygen that homeownership prevails and continue to lack the ecosystem necessary to make the sustained push above and beyond what has now become the mythical 50 percent line. But all hope is not lost.

Recently, Carla Holmes, a Norfolk State University alumnae and community banker, sat down for an interview to discuss the history of African American homeownership and more importantly the potential path forward. “I often say that community development found me. I noticed there was a need for education and training in the community and especially in the Black community in moving towards homeownership and understanding more about affordable housing.”

For the full podcast and interview click here.