Framework is a significant component of trade association’s expanded efforts to advance diversity, equity and inclusion in the apartment industry
Washington, D.C. – The National Multifamily Housing Council (NMHC) presented its Industry Framework for Racial Equity and Economic Inclusion at its recent virtual Racial Equity Event. The Industry Framework is intended to advance economic inclusion for commercial real estate professionals of color, both within NMHC member organizations and across the multifamily sector.
The Framework, developed by NMHC’s Racial Equity Taskforce including the Real Estate Executive Council, focuses on three key areas: (1) Supplier Diversity and Discretionary Spending; (2) Access to Capital and Credit; and (3) Talent Ecosystem. For each, it identifies a specific goal, key stakeholders, recommended industry actions and NMHC’s commitments to action.
The goals include:
- Expand economic inclusion by hiring and partnering with minority-owned companies and those with racially diverse leadership.
- Expand access to capital and credit for firms owned by CRE professionals of color.
- Increase the number of CRE professionals of color in senior leadership positions and throughout organizations.
“Led by our membership, NMHC is focused on the special role multifamily housing can play in creating more equitable organizations and communities,” said Betsy Feigin Befus, NMHC’s General Counsel and Senior Vice President for Strategic Initiatives. “It is why we convened a Racial Equity Taskforce and collaborated with the Real Estate Executive Council to produce our Industry Framework, which identifies specific actions companies can take to make a meaningful difference in their organizations as well as in the communities where they operate.”
More information on NMHC’s Diversity, Equity, and Inclusion Initiative can be found here.
Based in Washington, D.C., the National Multifamily Housing Council (NMHC) is the leadership of the trillion-dollar apartment industry. We bring together the prominent apartment owners, managers and developers who help create thriving communities by providing apartment homes for 40 million Americans. NMHC provides a forum for insight, advocacy and action that enables both members and the communities they help build to thrive. For more information, contact NMHC at 202/974-2300, email the Council at info@nmhc.org.
