Tag Archives: Washington

Early Childhood Academy Public Charter School Breaks Ground

MAYOR BOWSER, THE MENKITI GROUP, COMMUNITY LEADERS, PARENTS, AND STUDENTS CELEBRATE THE GROUNDBREAKING OF THE EARLY CHILDHOOD ACADEMY PUBLIC CHARTER SCHOOL

New Southeast school will provide a state-of-the-art, holistic learning environment for 300 young students

October 4, 2018, WASHINGTON, DC – Yesterday Mayor Muriel Bowser joined The Menkiti Group and Early Childhood Academy Public Charter School to mark the ceremonial groundbreaking for the new 38,000 square foot state-of-the-art school building, slated to open in August 2019.

The new Early Childhood Academy (ECA) school building is located at 885 Barnaby Street, SE, and consists of a repurposed former church with a new, modern addition to bring the school’s learning, activity, music, administrative, and multi-purposes spaces all under one roof. The school currently operates from two disparate, non-school use centers on adjacent properties.

The project, which is being financed through a combination of ECA PCS funds, grant funding from the Office of the State Superintendent, DC Government facilities allotments, and federal New Markets Tax Credits, marks a milestone for new development in the Washington Highlands neighborhood. The deal was structured as a unique lease-to-own arrangement in which ECA PCS has acquired the site from The Menkiti Group to build equity for the future.

Mayor Muriel Bowser addressed the crowd of attendees from ECA, including members of the Board of Trustees, school administration, teachers, aides, students, parents, project stakeholders and partners, and members of the Washington Heights neighborhood by talking about the impact the new ECA will have on the community, stating “This is going to be the learning space and play space that the students, families, and staff at ECA deserve,” said Mayor Muriel Bowser. “When we invest in our school facilities, we’re investing in the future of our students and communities.”

In addition to Mayor Bowser, speakers included, Ward 8 Councilmember Trayon White, Sr., Wendy Edwards, Executive Director of ECA, Dennis Sawyers, President of the Board for ECA, Thann Ingraham, Principal for ECA, and Mark Rengel, Menkiti Group VP of Development and Project Manager for the ECA project.

At the groundbreaking Menkiti Group Founder and CEO Bo Menkiti also addressed the crowd, offering his reflections on the project, stating: “The Menkiti Group is proud to have this opportunity to develop and deliver not just another transformative development project to the Washington, DC community, but one that truly exemplifies our mission of transforming lives, careers, and communities through real estate. We are particularly pleased that the new Early Childhood Academy will allow young students the opportunity to have a safe, holistic learning environment as soon as the doors open next year, and for many generations in this neighborhood to come.”

ECA Executive Director Wendy Edwards, who has been with ECA since 2005, the first year that the school was in operation, shared her thoughts on the milestone occasion: “After 14 years housed in two small community centers, we are thrilled that our students at Early Childhood Academy Public Charter School will start the 2019-2020 school year in the beautiful and spacious, brand new facility that they deserve.”

Many local organizations, financial institutions, and government leaders played a role in developing this project. Partners in the project include: DC Office of the State Superintendent of Education; Low Income Investment Fund; City First Bank; City First Enterprises; Chase Bank; United Bank; Industrial Bank; Cohn Reznick LLP; TenSquare; Cox Graae + Spack Architects; Meridian Construction; Built Environment Engineers; M.A. Design Group; Robert Silman Associates; DMY Capitol; A2 Services; Dan Triman, LEED AP+; CDKM Consulting; McKeever Services; New Columbia Solar, and DC SEU. Project progress is available at MenkitGroup.com/development.

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.

What’s Next After the Election? Bo Menkiti’s Perspective

Today in a special Washington Business Journal feature with other top Washington-area business leaders, The Menkiti Group CEO Bo Menkiti shared his perspsective on the potential impact of a Trump presidency for the regional business community.

In short, Bo’s perspective is that of any successful leader; that the long -term planning and visions that a company holds guide them through challenging and uncertain times.

“As a mission-based company fundamentally committed to a vision of America where communities are thriving, diverse, and economically vibrant, we naturally have concern about the impact of a change in administration on the regional economy and housing and economic policy.,” expressed Bo. “We plan to stay the course with our long-term growth strategy, and are parepared to take advantage of market opportunities should the economy shift.”

Read more of the reactions from Bo’s peers HERE.