Black real estate developer breaks ground on new housing project in his Southcrest neighborhood

Developer DaSean Cunningham broke ground for his first residential project in the neighborhood he grew up in. Seven new houses are to be built in Newton Gardens.

SAN DIEGO – Real estate developer DaSean Cunningham is thrilled to have broken ground for the Newton Gardens residential project in the Southcrest neighborhood where he grew up.

“Yes, we’re African-American men, but we do it. I’m good at real estate because I’ve seen someone who looks like me,” said Cunningham of Paradigm Commercial Group.

The search for a builder led to a chance meeting of Joseph Lewis with Cunningham’s mother.

“I met her at Home Depot when she asked my opinion on a color and I gave her a card and she said, ‘I think you could help my son,'” said Lewis, owner of Llewellyn Group, LLC . a real estate development company.

Lewis will oversee the entire construction of Newton Gardens at 4066 Newton Avenue.

Black property developer DaSean Cunningham from Paradigm Commercial Group is excited to break ground for a new 7-unit residential project in the neighborhood where he grew up in Southcrest #SanDiego Congrats @ CBS8 @DeskEight https: //t.co/gwfvMtrazO pic .twitter.com / 8bfQ88Oa58

– Heather HOPE (@ HopeNEWS8) September 22, 2021

“I have this equipment behind me, so tomorrow I’ll flatten this land and then we’ll dig the foundations the next day,” said Lewis.

Lewis led six other projects in the same southeastern area of ​​San Diego’s 9th Ward, and said getting from the planning stage to getting funding and construction can often be a struggle.

“I had never built a house before 2017, but I had to figure out how to make plans, how to get the money, and how to get around town because that is really a trip around town. I can’t be the only one going through this drama and then DaSean came into my life and I’m determined to get him through this project ahead of time, ”said Lewis.

The all-African American group takes to the ground while breaking barriers. The residential project plans consist of seven units including three bedroom / three bathroom villas. Cunningham invested $ 200,000 of his own money, received a $ 400,000 loan for construction, and has to pay for city fees, water and sewer permits, and school and architecture fees totaling about $ 800,000.

“The main source of wealth in the United States is real estate. He’s black like me and we need to support each other in this area as we represent 0.25% of the industry, ”said Demetre Booker Jr., managing partner for Elevate Commercial, a minority owned commercial real estate company.

Booker Jr. said Cunningham’s project stands out in a community where black real estate owners are severely underrepresented.

“This is already a success for him. The average net worth of African Americans is $ 17,000, compared with Hispanics at $ 23,000 and Caucasians at $ 170,000. The majority of affordable housing developers don’t look like they live in the communities where they help or where they do business.

Newton Gardens is just a filthy place now, but Cunningham said the project embodies a lot more.

“I love what that symbolizes. Like these African American men in San Diego who are driving developments and models for what is possible in the communities they live in, ”said Cunningham.

The Newton Gardens development is expected to be completed by autumn 2022.

source https://www.bisayanews.com/2021/09/22/black-real-estate-developer-breaks-ground-on-new-housing-project-in-his-southcrest-neighborhood/