Donahue Peebles III talks affordable housing and gentrification - Business Insider

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YIMBY with a conscience: Meet the 26-year-old real-estate heir who wants to make affordable housing a reality in the Biden era

, for example, which prevents developers from knocking down existing brownstones to create more housing.

Andrew Berman, executive director of the Greenwich Village Society for Historic Preservation, told Insider that, for the most part, the organization was all for more affordable units in landmarked areas."That can be achieved through adaptive use and new construction," Berman told Insider. Meanwhile, Simeon Bankoff, executive director of NYC's Historic Districts Council, an organization that advocates for the city's historic and cultural neighborhoods, noted that as a developer, Peebles has a vested interest in more laxity on development. "If people who are in the business of doing real estate development didn't have to deal with regulations, they wouldn't.

He called the racial wealth gap a social failure of capitalism. Talent, he said, is thought to be distributed equally, but without opportunities, underrepresented and underutilized business owners, entrepreneurs, and firms will still struggle to grow.Meet one of the youngest Black entrepreneurs in tech, who just raised a seed round topping $4 million that included Alexis Ohanian

 

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