Browse Tag

construction

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This Black Owned Construction Company Went From Broke To Billions

C D Moody Construction is an award-winning, Black owned construction company based in Lithonia, GA. When CEO,  C. David Moody struck out on his own in 1988, he and his wife were in debt, struggling to make ends meet, and working out of their bedroom.

black owned construction company
C. David Moody

Over thirty years later, C.D. Moody Construction is a thriving enterprise that has completed over 200 commercial projects worth almost $3 billion.

The company’s growth coincided with rapid regional growth, and as Moody literally helped build 21st century Atlanta, Atlanta’s emergence helped fuel Moody’s success.

Along the way, Moody has remained committed to the community, planting seeds for future growth by mentoring the next generation of business leaders in Atlanta and teaching his kids the value of hard work and financial responsibility with his wife Karla.

For Moody, those entrepreneurs will play an important role in continuing to build up the community. And his kids will play a vital role in the business.

“Every weekend we would go and look at all the job sites together as a family,” said Karia Moody, David’s daughter. “I grew up in construction. I always knew I wanted to go into it.”

In September of 2019, David Moody joined as a 49% partner on a $650 million mix of affordable and market-rate housing, restaurants, retail, offices, and a performing arts center.

black owned construction company

In remarks before the McPherson Implementing Local Redevelopment Authority or Fort Mac LRA board, Moody said he also wanted to build an advocacy center to help treat victims of childhood sexual abuse that would focus on victims who are now in adulthood but still grappling with trauma.

black owned construction company

Moody previously was identified as a construction partner but will now take on an ownership stake in the development if approved by the board.

 

Tony O. Lawson

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Black Owned Construction Firms Hired for $300 Million Obama Foundation Project

Three Black-owned construction firms joined forces to form the Presidential Partners consortium. It has recently been announced that this new joint venture will take the lead on the $300 million construction of the Obama Presidential Center. Construction is one of the most lucrative industries on the planet. There are many successful construction companies across the world, going to projeco.com.au show you this. It is great to see business booming and small businesses with also hopefully benefit from this large-scale project. Both in the United States and across the Pond in the United Kingdom, it can be a real challenge for businesses to thrive. This is why they often choose to cut costs wherever possible. One really useful way of doing this is opting to lease a van rather than buying outright. UK based IVL are helping small businesses to do this.

Image courtesy of the Obama Foundation

The Presidential Partners consortium of Powers & Sons Construction, UJAMAA Construction, Brown & Momen, and Safeway Construction. These companies represent some of the most established and well-respected Black owned construction firms in Chicago. It is wonderful that Chicago is home to so many excellent construction firms that are experiencing high levels of success across the country. It is reflected in their customer satisfaction ratings and the number of top of the range equipment, like a scabbler, that they have to help them carry out their job.

Mamon Powers, Jr. CEO, Powers and Sons

Alone, none of these companies had the experience to win the bid to construct the institution that is slated for Chicago’s Woodlawn neighborhood. Together, according Mike Strautmanis, vice president at the Obama Foundation, it was an easy choice.

Image courtesy of the Obama Foundation

“One, they’re talented,” Strautmanis says. “We know they’ve been involved in other construction projects around the city and the Midwest, so between them all we knew they could handle the complexity.”

Jimmy Akintonde, CEO , Ujaama Construction

President Obama himself signed off on the new team, and Strautmanis says the selection is part of the president’s commitment to the community.

“We want to set the stage for a new model,” Strautmanis says. “The new model is you don’t have to have a white firm with minority partners on the side. You want to have real diversity: minority firms in the lead with a seat at the table.”

Ernest Brown, President, Brown & Momen, Inc

According to Next City, community activists and residents are reportedly still pressing the foundation to sign a contract guaranteeing well-paid, long-term jobs to local residents.

Obama has said that he will not sign such a contract. But the foundation believes that in selecting a construction management team, it has “picked firms that demonstrated they could handle the community’s concerns,” according to the Tribune.

Construction is slated to begin by the end of the year. It will start on the west side of Jackson Park.

The Obama Presidential Center is scheduled to open in 2020.

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Black Real Estate Businesses & Professionals

From the beginning of recorded time, real estate or land and property ownership has been responsible for the creation of many fortunes. Here are some Black real estate business owners and professionals who are at the top of their game.

Black Real Estate Business Owners & Professionals

Ayesha Selden (Philadelphia, PA) is a self-made millionaire who has amassed a real estate portfolio of 0ver 30 properties and 41 units. She is also an author, public speaker, and coach.

black real estate

Cedric Matheny (Atlanta, GA) is Principal and Vice at President T.Dallas Smith & Company. He specializes in Tenant and Buyer representation services for corporate users of office, industrial, retail, and land. He also advises clients on-site selection, real estate investment, and real estate development.

black real estate

Eze Okwodu (DMV area) With over fifteen years of experience as a real estate investor, Eze is committed to helping his clients find their dream properties that not only meet their needs but are sound financial investments.

black real estate

Daniel D. Thomas (Bridgeport, CT) Since starting his career at the age of 19. By the age of 23, he became one of the youngest Real-Estate Brokers in the country to open his own firm Daniel D. Thomas Real-Estate.

black owned real estate

Kofi Nartey is the founder of Society Real Estate & Development. A leading authority on luxury real estate, he is the go-to broker for celebrities, prominent sports figures, and affluent clientele around the globe.

C. David Moody (Lithonia, GA)  is the President and Chief Executive Officer of C.D. Moody Construction Company, Inc., one of the largest Black-owned construction firms in the U.S.

black owned construction company

G. Lamont Blackstone (Mount Vernon, NY) is the principal of G. L. Blackstone & Associates LLC, a commercial real estate consulting firm specializing in urban markets.

Lisa Phillips (Arlington, VA) is the founder of Affordable Real Estate Investments. She is also a real estate investor who is passionate about teaching others how to “cash in on working-class neighborhoods for higher profits.”

black real estate

Scottie Smith (Houston, TX) is the Managing Broker at Scottie Smith II & Associates. Mr. Smith specializes in sales, investments, property analysis, and valuation of multifamily and single-family properties in Texas.

black real estate

Roy Donahue “Don” Peebles (Washington D.C.) is the Founder, Chairman and Chief Executive Officer of the Peebles Corporation, the largest African American-owned real estate development and ownership company in the US.

black real estate

 

Harrison Beacher (Washington, D.C) has dealt with and successfully helped close every kind of deal from multi-million dollar sales, to foreclosures, short sales, co-ops,estate sales, first-time buyers, Down payment assistance program deals, investors, rentals, and everything in between.

Adenah Bayoh ( Irvington, NJ) is the founder and CEO of Adenah Bayoh and Companies, a real estate development portfolio with over $250 million dollars in urban redevelopment projects.

black real estate

Quintin E. Primo III (Chicago, IL) is the co-founder and CEO of Capri Capital Partners, a real estate investment firm specializing in mezzanine investments in real estate private and publicly held companies.

Kenneth H. Fearn (Los Angeles, CA) is Founder and Managing Partner of Integrated Capital LLC, a leading hotel-focused, private real estate advisory and investment firm. 

mTkalla (pronounced T’kalla) Keaton (New York, NY) has over twenty-five years of experience managing properties in Brownstone Brooklyn.

Egypt Sherrod (Atlanta, GA) is an award winning Realtor ® and CEO of The Egypt Sherrod Real Estate Group. Egypt’s daily business activities include counseling modest first-time home buyers to quarterbacking the listing/marketing of homes owned by corporate leaders, celebrities, physicians and investors throughout Atlanta.

Brendan Wright (Atlanta,GA) is a realtor with Atlanta Fine Homes Sotheby’s International Realty and a Certified Negotiation Expert. In 2013, Brendan was recognized as Atlanta Fine Homes Sotheby’s International Realty’s youngest Multi-Million Dollar Sales Club member.

Michael Russell (Atlanta, GA) is the CEO of H.J. Russell & Company, a vertically integrated service provider specializing in real estate development, construction, program management, and property management. Michael founded the company in 1952 and led it for 50 years.

Victor MacFarlane (San Francisco, CA) is chairman and chief executive officer of MacFarlane Partners, which he founded in 1987 to provide real estate investment management services to institutional investors.

Kenneth Bacon (Bethesda, MD) is Co-founder and Managing Partner of RailField Partners. Prior to forming RailField, Ken spent 19 years at Fannie Mae, most recently as the Executive Vice President and Head of the Multifamily Business.

Sundra Ryce (Buffalo, NY) is the President and CEO of SLR Contracting & Service Company, Inc. SLRoffers commercial general construction, construction management, and design-build services for new construction and renovation projects, schools, nuclear facilities, and government projects.

 

-Tony O. Lawson

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