Why Major Commercial Real Estate Firms are Joining Resources to Recruit Black Student-Athletes

Darius Livingston, a former football player who graduated from the University of California, Davis, found a new career path in commercial real estate after participating in Project Destined, a paid internship program focused on teaching young students of color about finance and real estate investing.

Founded by Cedric Bobo, a former principal at Carlyle Group, Project Destined initially targeted high school students but later expanded its scope to include college students.

To support diversity in their workforces, major real estate development, finance, and management firms such as Boston Properties, Greystar, Brookfield, CBRE, and JLL have provided funding and mentorship for the program.

Over 5,000 participants from 350 universities worldwide have been trained through the program, which has partnered with more than 250 real estate firms.

Project Destined has now formed a partnership with the Black Student-Athlete Summit, an organization providing professional and academic support, to offer paid virtual internships to 100 student-athletes from nine Division I schools.

The program involves 25 hours of training and allows participants to evaluate real-time commercial real estate transactions, compete in pitch competitions, and access scholarship and networking opportunities. Livingston, who went through the UC Davis pilot program, completed internships with Eastdil and Eden Housing, and is now an acquisitions and development associate at Catalyst Housing Group, a California-based real estate development firm that supports the new partnership.

Bobo, the founder of Project Destined, emphasizes the importance of ownership and creating change in communities through real estate. He wants Black student-athletes to recognize their potential for ownership and management in the industry.

While the graduation rate for Black student-athletes is slowly improving, many face challenges when transitioning to the workforce after their athletic careers.

The program aims to provide them with opportunities beyond sports and instill a mindset of deserving more. Financial support for Project Destined comes from real estate firms like BGO, Brookfield, Catalyst Housing Group, and others.

The program has also collaborated with the NBA and the WNBA to offer professional athletes more options after their sports careers. Livingston believes that athletes make excellent employees due to their competitive nature and drive to succeed.