Tag Archives: The Menkiti Group

The 24th Annual Brookland Trolley Tour Celebration of Lights

The Annual Brookland Trolley Tour Celebration of Lights took place this past Sunday, December 16th and broke all previous attendance records. With almost 500 friends and neighbors joining in to celebrate the holiday season, joy was all around!

Relive the magic in the video below, and be sure to join us next year for the 25th Annual Milestone Tour!
More Photos Available Online

Thank You to our generous sponsors and jolly volunteers who made the event possible.

Annie’s Ace Hardware
Brookland Pint
Chipotle
Good Food Market
Potbelly
Right Proper Brewing Co.
San Antonio Bar & Brill
Smith Public Trust
Wardman Wines
Yes Organic Market
Zeke’s Coffee

Bo Menkiti Recognized as a RisMedia Real Estate Newsmaker

RISMedia has announced it has chosen Bo Menkiti as a member of the Class of 2019 Real Estate Newsmakers, which will be revealed in the December 2018 issue of RISMedia’s Real Estate magazine, and featured online at RISMedia.com.

RISMedia’s Real Estate Newsmakers is an exclusive group of industry luminaries who have contributed in newsworthy ways to real estate.  The 2019 Class was chosen by RISMedia editors for headline-making initiatives and successes, including, but not limited to:

  • Advancing the industry
  • Impacting change
  • Technology achievements
  • Diversity and inclusion
  • Business accomplishments and growth
  • Humanitarian efforts
  • Industry activism and support
  • Thought leadership and influence
  • Excellence in customer service
  • Creativity and innovation

“RISMedia’s Real Estate Newsmaker Awards honor the industry’s real newsmakers—the people who are positively affecting our industry and the millions of consumers we serve,” says John Featherston, CEO and president of RISMedia. “Our industry promotes and provides consumers with a pathway to responsible homeownership. Over the past three-plus decades, RISMedia has covered, chronicled and celebrated the professionals making news in real estate, and we are honored to continue to formalize these honors with the 2019 annual RISMedia Real Estate Newsmaker Awards.”

For More Information, visit RisMedia.com.

 

The Menkiti Group To Buy Worcester Building From MassDevelopment

From massdevelopment.com:

October 17, 2018

The Menkiti Group, through its subsidiary 526 Main Street Partners LLC, has executed a purchase and sale agreement with MassDevelopment to buy 526-538 Main Street in Worcester, the former Pawn Shop building that MassDevelopment bought last year through its Transformative Development Initiative (TDI) Equity Investment program. MassDevelopment purchased the building in 2017 and made façade improvements before soliciting interest from developers through an RFP process.

The Menkiti Group, an integrated real estate services company, submitted a comprehensive proposal to reactivate the building by providing opportunities for retail, arts, and cultural amenities that will reinforce the neighborhood’s identity as a destination for arts and entertainment. The sale is expected to close in spring 2019.

“Our anticipated purchase of 526-528 Main Street will add to The Menkiti Group’s growing portfolio of projects in the Worcester Theater District, and further demonstrates our commitment to that neighborhood and to its future,” said Bo Menkiti, Founder and CEO of The Menkiti Group. “We recognize the significant architectural, cultural, and educational community assets that are here, and we look forward to working with existing stakeholders, local creatives, and entrepreneurs to enhance and harness those assets to develop a thriving, diverse, and economically vibrant neighborhood.”

“The Menkiti Group has a strong presence here in Worcester’s TDI District and throughout the city, and is the right team to lead 526-538 Main Street into the next stage of development,” said MassDevelopment President and CEO Lauren Liss. “MassDevelopment was proud to invest in this key property through our TDI Equity Investment program and we look forward to seeing this revitalized building breathe new life into downtown Worcester.”

The redevelopment of 526-538 Main Street, a two-story building located across the street from the Hanover Theatre and Conservatory in Worcester’s Theatre District, is critical to advancing the city’s vision for transforming its downtown. Following the departure of the Pawn Shop from the building in March 2018, 526-538 Main Street contains 8,000 square feet of vacant space on the building’s first floor and 8,400 square feet of vacant space on the building’s second floor. The Muse Bar, a contemporary bar established in 2015, occupies 1,000 square feet on the building’s first floor. Since MassDevelopment purchased the building in 2017, the Agency worked with the Theatre District Alliance to install new signage that visually improved the building and marketed the property.

“As our downtown revitalization efforts continue with a complete re-imagining of Main Street, reactivating this key property in our Theatre District is a vital piece of our overall development plan,” said City Manager Edward M. Augustus. “We thank MassDevelopment and the Menkiti Group for making this important project a reality through the TDI program.”

MassDevelopment’s Transformative Development Initiative is a program for Gateway Cities designed to accelerate economic growth within focused districts. The program works with cross-sector partnerships to engage community members in actionable planning, implement local economic development initiatives, and spur further public and private investment.

MassDevelopment uses its TDI Equity Investment program to make equity investments in properties with potential to spur transformative development in and around a TDI District. Through the program, MassDevelopment invests in near-term projects that will have significant economic impacts within a district; are consistent with Commonwealth and Agency priorities; engage and build capacity in local communities and partners; catalyze market demand and support district goals; and lack other sufficient funding sources to proceed.

Worcester is one of 10 Gateway Cities selected in 2014 to host pilot TDI Districts—along with Brockton, Everett, Haverhill, Holyoke, Lynn, Malden, New Bedford, Peabody, Pittsfield, Revere, and Springfield. As a part of the TDI program, each District receives a range of real estate development services to support local visions for redevelopment and to catalyze economic activity and investment. The vision for Worcester’s Theatre District is to become a bustling hub of cultural activity and entertainment within the downtown, leveraging institutional, residential, and commercial growth anchors to create a mixed-use neighborhood for residents and visitors alike to live, work, and play.

“The announcement of this sale is an exciting development in bolstering the great momentum that the Theatre District is currently witnessing,” said Craig Blais, President and CEO of the Worcester Business Development Corporation (WBDC). “This purchase is yet another example of MassDevelopment’s TDI investment programs and the indelible impact that they continue to have within the Theatre District.  The 526 Main Street property has long been viewed as a distress property and the WBDC commends the Menkiti Group’s willingness to take on this difficult property.  This complements our block by block strategy connecting CitySquare to Main Street.”

“The 526-538 Main Street building had been a real detractor to the area until MassDevelopment purchased it,” said Hanover Theatre President and CEO Troy Siebels. “We’re glad to see that they’ve identified a buyer in Menkiti Group that’s committed to using the building in a way that contributes positively to the theatre district.”

MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2018, MassDevelopment financed or managed 384 projects generating investment of more than $4.1 billion in the Massachusetts economy. These projects are estimated to create or support 10,994 jobs and build or rehabilitate 830 housing units.

Contact:
Kelsey Schiller, MassDevelopment
kschiller@massdevelopment.com
617-330-2011 & 617-694-9695 (cell)

The Menkiti Group Named One of the Nation’s Fastest-Growing Inner City Businesses

Washington, DC, October 3, 2018- The Initiative for a Competitive Inner City (ICIC) announced that The Menkiti Group has made the 2018 Inner City 100 list of the fastest-growing inner city businesses in America, based on revenue growth. ICIC, a 25-year-old national nonprofit founded by Harvard Business School professor Michael E. Porter, promotes economic prosperity in America’s inner cities through private sector investment that leads to jobs, income and wealth creation for local residents.

The list was revealed at the 20th Annual Inner City 100 Conference and Awards in Boston October 1-2.  The full list is available on Fortune’s website. The Menkiti Group, led by CEO Bo Menkiti was ranked #93 based on its growth rate from 2013 to 2017 of 68.26% and 2017 revenue of $17,515,873.

2018 marked the 5th appearance on the prestigious list for The Menkiti Group, placing the company into the ICIC fastest-growing companies Hall of Fame. Keller Williams Capital Properties was also ranked for a record 5th appearance, this year at #92, which places the company into the Hall of Fame as well.

Said ICIC CEO Steve Grossman, “Inner City 100 companies are forces of economic opportunity, optimism and transformation in their communities. They lead the way in innovation, job creation and economic revitalization and it’s an honor to shine the spotlight on their leadership and accomplishments. In addition to excellence in business, these pioneering entrepreneurs have demonstrated a deep commitment to and passion for their communities, which significantly impact the wellbeing of their local economies”.

Now celebrating its 20th year, ICIC’s Inner City 100 list has long celebrated urban entrepreneurship. Since its inception, ICIC’s list has recognized 975 companies, which have seen average growth rates of more than 400 percent during a five-year period and have collectively created more than 126,000 meaningful jobs in America’s distressed and underserved communities and neighborhoods.  The Inner City 100 program opens doors for other budding urban entrepreneurs and stimulates inner city business development and job creation through recognition, networking and learning.

“These businesses and their owners are a testament to the impact innovation and entrepreneurship have had in rejuvenating urban areas across the U.S. Companies such as (COMPANY NAME) are experiencing revenue growth and increased investment, which are in turn creating more jobs and economic opportunity for citizens in the communities where these companies call home” said ICIC President and COO, Matt Camp.

2018 Inner City 100 by the numbers:

  • Average growth rate of 436 percent between 2013 and 2017
  • Represent 46 cities in 23 states
  • Employed 10,085 individuals in 2017
  • Created 5,516 new jobs in the last five years
  • On average, 36 percent of employees live in same neighborhood as the company.
  • Average company age is 15 years
  • Average 2016 revenue is $14.8 million
  • 31 percent are women-led
  • 38 percent are minority-led
  • Represent 26 industries

CEOs from the winning companies were invited to the Inner City 100 Conference and Awards, two days of robust networking opportunities and educational sessions led by Fortune 500 executives and academics from top-tier universities, including Harvard Business School. Past winners have reported connecting with multi-million dollar investors as a result of appearing on the Inner City 100 list and attending the Conference.

Initiative for a Competitive Inner City (ICIC)

ICIC is a national nonprofit founded by Harvard Business School professor Michael E. Porter. ICIC’s mission is to promote economic prosperity in America’s inner cities through private sector investment that leads to jobs, income and wealth creation for local residents. Through its research on inner city economies, ICIC provides businesses, governments and investors with the most comprehensive and actionable information in the field about urban market opportunities. The organization supports urban businesses through the Inner City 100, Inner City Capital Connections, Goldman Sachs 10,000 Small Businesses program, and Santander Bank’s Cultivate Small Business program. Learn more at www.icic.org or @icicorg.

Capitol Vista Breaks Ground

As reported by the Executive Office of the Mayor on Tuesday, September 25, 2018:

“Today, Mayor Bowser broke ground on Capitol Vista, a 104-unit affordable housing community in the amenity-rich Mount Vernon Triangle neighborhood in Ward 6. This groundbreaking follows recent affordable housing announcements by Mayor Bowser in the Mount Vernon Triangle neighborhood, which include the grand opening of Plaza West, a 223-unit affordable housing community for seniors, families, and “grandfamilies,” and a groundbreaking on Liberty Place, an affordable housing project which will deliver permanent supportive housing units for those experiencing homelessness and units for veterans.

“As our city continues to grow and prosper, my Administration has remained laser-focused on ensuring residents of all backgrounds and income levels have access to safe and affordable places to live across all eight wards,” said Mayor Bowser. “Capitol Vista is an example of how we are meeting the diverse housing needs of Washingtonians and creating pathways to the middle class at the same time.”

Located at 810 New Jersey Avenue, NW, Capitol Vista will be comprised of 104 studio-, one-, and two-bedroom units for households earning up to 50 percent of the median family income (MFI) or $58,600 for a family of four. Capitol Vista will be a 100 percent affordable community with 3,000 square feet of ground floor retail and space for public art.

Capitol Vista is located in a transit-oriented, growing neighborhood within walking distance of four Metro stations and bus routes. It is also close to a grocery store, multiple places of worship, a library, recreation and restaurants, as well as downtown, employment centers and jobs.

Amenities for residents include a fitness center, conference room, clubroom, roof terrace, and bicycle parking.

The Capitol Vista affordable housing community was made possible through a collaboration of DC Government agencies, including the Office of the Deputy Mayor for Planning and Economic Development, the DC Department of Housing and Community Development, the DC Housing Finance Agency, and DC Housing Authority. Voltron Community Partners comprised of Dantes Partners LLC, Spectrum Management LLC, The Menkiti Group and Bailey Real Estate Holdings, will develop the project.

Mayor Bowser has designated September 24 through October 1 as #RootstoRoofs Housing Week across DC. The Capitol Vista groundbreaking is one several events highlighting the Bowser Administration’s progress in providing all Washingtonians a fair shot by creating and preserving affordable housing. Since coming into office, the Bowser Administration has delivered 6,000 affordable units, with another 5,200 under construction.

At the event, the Mayor was joined by Deputy Mayor for Planning and Economic Development Brian Kenner and Ward 6 Councilmember Charles Allen.”

Executive Office of the Mayor Newsroom

Learn more about Capitol Vista by visiting the project page.

Early Childhood Academy profiled in Commercial Observer

As reported by Christina Sturdivant-Sani of Commercial Observer on September 13, 2018:
The Real Estate Struggle Is Real for DC Charter Schools”

“We’re incredibly excited to be able to bring a new building to this charter school serving very low-income students—it’s heavily aligned with our mission of transforming neighborhoods,” said Brian Burke, Executive Vice President at The Menkiti Group.

See the full Commercial Observer story here.

See our project page on the Early Childhood Academy PCS for more detail.

Kymber Lovett-Menkiti Recognized as a Washington Business Journal 2018 40 Under 40 Honoree

Wednesday, June 27, 2018: WASHINGTON, DC – It was announced last night that Kymber Lovett-Menkiti, Regional Director for the Maryland/DC region for Keller Williams Realty International, and President of Sales for The Menkiti Group and for

Keller Williams Capital Properties (KWCP), has been named to the Washington Business Journal 2018 40 Under 40 list of honorees, a group of the greater Washington, DC region’s brightest and best young business leaders under age 40.

“I am thrilled and humbled to be recognized among an incredible group of business leaders in the Washington, DC region, and among standout women in particular,” said Lovett-Menkiti. “When I reflect on my journey to this point, I’m proud to say I have built my career in doing what I love most – in doing good while doing well, succeeding in business while serving the community. I’m fortunate to have many talented people around me that challenge and inspire me each day to transforming lives, careers, and communities through real estate,” she added.

Since the founding of The Menkiti Group in 2004, and subsequent founding of KWCP in 2006, Kymber has demonstrated outstanding performance as a sales driver for the two companies and helped to generate significant revenue growth. Both entities have been consistently recognized on the INC. 500/5000 list of fastest-growing privately-held companies for a collective 14 times and have also been recognized by the Initiative for a Competitive Inner City as fastest growing inner-city businesses in the United States for a combined seven times.

In January 2018, Kymber accepted the role of Regional Director for the Maryland/District of Columbia Region of KWRI, directing growth for 19 Market Center offices, with close to 5,000 real estate professionals, and is the first African American woman to hold as high a position in the company. Washingtonian Magazine has named Kymber a Top Real Estate Agent multiple years, and in 2015, she was recognized by Washington SmartCEO as a 2015 Brava award winner for distinguished achievement as a member of Greater Washington’s top women business leaders.

Kymber is a charter member and Board Chair of the CPMG Foundation, a joint project of The Menkiti Group and Keller Williams Capital Properties created to support the housing, education, and entrepreneurship needs in the DC Metro area, Kymber is also a founding member of the board for DC WISE, (Women in Solidarity for Empowerment), a Washington, DC non-profit organization established to support organizations that serve women and children. To date, the organization has contributed more than $650,000 to the communities in which it serves.

Magna cum laude graduate of James Madison University with a degree in Social Work, Kymber also holds two Master’s Degrees in Social Work, and Law and Social Policy from Bryn Mawr College. An Associate Broker and licensed REALTOR® in the District of Columbia, Maryland, and Virginia, she has been a long-time resident of the District of Columbia and enjoys celebrating the culture and big city luxuries of the urban setting while appreciating the small-town comforts of its neighborhoods and communities with her husband and three active boys.

BO MENKITI NAMED MID-ATLANTIC FINALIST FOR EY ENTREPRENEUR OF THE YEAR® AWARD

Founder & CEO of The Menkiti Group and Keller Williams Capital Properties included with 30 other regional finalists from an array of different industries and business sectors.

EY has announced that Bo Menkiti, Founder, and CEO of The Menkiti Group and Keller Williams Capital Properties, is a finalist for the Entrepreneur Of The Year® Award in the Mid-Atlantic region. The awards program recognizes entrepreneurs who are excelling in areas such as innovation, financial performance and personal commitment to their businesses and communities. Menkiti was selected by a panel of independent judges; award winners will be announced at a gala event on June 15, 2017, at the Ritz-Carlton, Tysons Corner, VA.

Bo Menkiti, Founder & CEO of The Menkiti Group and Keller Williams Capital Properties

“I’m honored to have been named a finalist for the EY Entrepreneur Of The Year Award, and to be included with such an amazing group of business leaders and innovators,” said Bo Menkiti. “This recognition is an affirmation that entrepreneurs can operate a mission-oriented double-bottom-line company like ours and be successful at scale.”

Founded in 2004, The Menkiti Group is an integrated real estate services firm dedicated to transforming lives, careers, and communities through real estate. The company has established a reputation for its creative and productive deployment of capital and the cultivation of relationships across economic and cultural divides that have historically hindered the development of urban neighborhoods.

To date, The Menkiti Group has invested over $160 million into DC’s emerging neighborhoods, with 1.5 M square feet of property currently in its development pipeline, and has helped more than 2,000 families purchase and sell homes. The Menkiti Group also owns and operates Keller Williams Capital Properties, one of the fastest growing franchises of Keller Williams Realty, with seven offices, nearly 1,000 agents, and more than $2 billion in transactions in 2016. Together, through their joint foundation, The Menkiti Group and Keller Williams Capital Properties have donated over $500,000 to organizations in the DC, Maryland, and Virginia communities where they do business.

See here for Mr. Menkiti’s full biography.

About Entrepreneur Of The Year Entrepreneur Of The Year®, founded by EY, is the world’s most prestigious business awards program for entrepreneurs, chosen from an independent panel of judges including entrepreneurs and prominent business leaders from business, finance, and the local community. The program makes a difference through the way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership, and achievement. As the first and only truly global awards program of its kind, Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in over 145 cities and more than 60 countries. Ey.com/eoy

About The Menkiti Group & Keller Williams Capital Properties Headquartered in Washington, DC, The Menkiti Group is a real estate services company dedicated to enhancing the fabric of life in America’s urban neighborhoods through the strategic development, management, and sale of residential and commercial property. The Menkiti Group has in development or in its pipeline more than 1.5 million square feet of property; has invested over $160 million in DC’s emerging neighborhoods, and has assisted over 2,000 families in purchasing and selling homes. The Menkiti Group also owns and operates Keller Williams Capital Properties, a fastest-growing franchise of Keller Williams Realty International, with seven offices and nearly 1,000 agents. MenkitiGroup.com kwcapitalproperties.com

The Menkiti Group Reveals Intended Plans for MLK Gateway, Anacostia

Curbed DC featured an article on our proposed development plans for the MLK Gateway project in Historic Anacostia. The Menkiti Group has partnered with Enlightened, Inc. to form MLK Gateway Community Partners (MGCP, LLC), creating a 100% minority-owned, local District-based entity to redevelop the site.

HERE is an overview of with more details on our proposed project.

The riverside neighborhood of Anacostia and its surrounding East of the River communities are known for their strong sense of community and rich history, and it is our vision that our proposed development project will serve as a catalyst for a thriving, diverse, and economically vibrant commercial corridor.

mlk-gateway-rendering

CurbedDC reported: “There are two finalists for the Request for Proposals (RFP) for Anacostia’s MLK Gateway, which was introduced during the Office of the Deputy Mayor for Planning and Economic Development’s (DMPED) March Madness event. This “Gateway” is located at 1201-1215 Good Hope Road SE and 1909 Martin Luther King Jr. Avenue SE with plans for small to medium scaled commercial and mixed-use developments.”

Read the full article for more insight into our proposal to build on the inherent assets of the Anacostia neighborhood to create a dynamic mixed-use destination for retail, arts, innovation, and commerce for this important project.