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Athletes are increasingly backing hometown commercial real estate projects
Former NFL player Ndamukong Suh is developing a hotel and conference center in Portland, Ore., while Derrick Rose is involved in a $7 billion mixed-use project in Chicago.
Commercial Observer highlights a growing trend of athletes, from the NBA and NFL as well as other leagues, channeling their star power and financial capital into commercial real estate development, including projects in their hometowns. The story points to former NFL player Ndamukong Suh, who grew up in Portland, Ore., and is developing a hotel and conference center there through his company HMS Development. It also cites Derrick Rose, who has announced involvement in a $7 billion mixed-use project planned for Chicago’s Near West Side.
Commercial Observer says many athlete-developers are also building commercial real estate knowledge and industry relationships, with the article noting Suh previously graduated with a degree in construction engineering and that Rose is taking real estate classes for a year. The piece adds that the National Football League’s Troy Vincent Sr. views the intersection of sports and commercial real estate positively, praising Project REAP, a national CRE training program mentioned in the Congressional Record, for helping athletes and emerging leaders understand options beyond traditional career paths.