DL3 Realty’s Development Process Focuses on Inclusive Revitalization
Benefit Chicago is proud to announce an impact investment in DL3 Realty Advisors, LLC, a new impact investment company created by DL3 Realty, L.P. (DL3) targeting projects designed to sustain and accelerate revitalization efforts across Chicago.
Founded in 1999, DL3 is a community-minded development and advisory firm that helps transform emerging communities through high-impact and dynamic commercial real estate projects. DL3’s new company will use the $3 million investment to advance its work in Woodlawn and other communities in the south and west sides of Chicago.
Where is impact investing making a difference in Woodlawn?
Benefit Chicago’s initial investment will target the improvement of commercial and retail opportunities in conjunction with the recent increase in market-rate housing options seen in the Woodlawn community. Leon I. Walker, Esq. Managing Partner of DL3 Realty is committed to a community-centric approach to development in every aspect of his business:
“We’re honored to receive this initial investment from the Benefit Chicago fund and we look forward to using this investment to capitalize on projects, and fund pre-development operating costs, setting the groundwork for long-term community impact. While we are currently focused on Woodlawn, we will continue to partner, develop and invest in high impact commercial real estate projects in emerging communities citywide.”
During the next ten years, Leon’s vision for Chicago’s neighborhoods is to catalyze the development of more than ten million square feet of commercial space that creates over 10,000 jobs.
DL3’s existing and future pipeline of projects is helping to create a new market for private investment in office, retail, hospitality, housing, and service businesses, with an approach centered on meeting the needs of the community. Its vision has led to key partnerships generating transformational impact in the communities in which it works.
“DL3 is doing incredible work in bringing their ‘venture development’ model to community and economic development,” said William W. Towns, Executive Director of Benefit Chicago. “This investment will help the new company support neighborhood projects and is laying the foundation for greater investment in Woodlawn and other thriving communities.”
The Chicago-focused impact investment fund created as part of Benefit Chicago has committed $53 million in impact investments since 2016. Benefit Chicago is proud to work with DL3 to provide neighborhood residents with new opportunities to build wealth while stimulating positive economic and social activity.