Despite the exciting announcement of the publication of his book, in Tuesday night’s live Opportunity Investing webinar Dr. White also welcomed special guest Ron Beit, the Newark, New Jersey based developer behind the ground-breaking Teachers Village projects. Dr. White introduced Ron as the developer that has transformed Newark into New Jersey’s business and entertainment capital while creating affordable housing for educators almost exclusively developed in Opportunity Zones.
Jim White, PhD
Jim began the interview by asking Ron what got him interested in real estate development. Beit revealed that he was inspired as a young teenager by The Art of the Deal and development in New York City. Though he thought his path into real estate would be through law (Beit is licensed in New York and New Jersey), he actually began through property management with a building in Newark. Baffled by the trapped value in Newark which had not yet been realized, Mr. Beit has now developed millions of square feet in this bustling North Jersey city.
Beit is passionate about using his development expertise in Qualified Opportunity Zones, a trait he shares with Jim White. Both businessmen also recognize the distinct advantage of Opportunity Investing’s bipartisan legislation. Mr. Beit indicated that Teachers Village was the first project that catalyzed over a billion dollars into downtown Newark with the support of democratic Mayor Cory Booker and republican Governor Chris Christie.
Jim and Ron chatted more about Teachers Village, and the public private partnership it took to fund it. Beit wanted to develop the community around educators and educating, citing that community support, local government and community backers are what’s behind the beauty and sustainability of the Opportunity Zone program.
“The special sauce is cobbling together public investments in a way that you can secure the private capital in a way that is affordable to teachers,” Beit told White and his listeners on Tuesday, “It’s different for every school district.” Though the first Teachers Village was completed in Newark, Ron’s company, RBH Group, completed a Teachers Village in Hartford, CT and will be expanding to Chicago, Atlanta, Miami and Stockton, California.
“Beit wanted to develop the community around educators and educating.”
As for Jim’s request for any advice to developers interested in working with Opportunity Zones, Ron did not hesitate, “It’s not easy work,” he told Jim, “That being said, it’s worth it on so many levels.” Beit also spoke to the social impact that comes as a result in developing Opportunity Zones, asserting that RBH incubates these projects in Newark with the intent of bringing them across the country as they’ve done with Teachers Village.
“It’s not easy work. That being said, it’s worth it on so many levels. ”
You can catch Jim’s entire interview with Ron Beit, CEO and founding partner of RBH Group online at www.authorjim.com/webinars. For more information about Ron, Teachers Village, and RBH Group visit www.teachersvillage.com and www.rbhgrp.com.
Dr. White will be back with another live webinar soon. Until then, his newest book Opportunity Investing, the no-nonsense guide to investing in Qualified Opportunity Zones is available now and can be purchased HERE.