Source: Crain’s

Date Published: 01.13.2025

Link: Adams Administration to Study Discrimination in Commercial Real Estate

The NYC Economic Development Corp. has commissioned its first disparity study of the commercial real estate industry to assess whether minority- and women-owned developers (MWBEs) face barriers in accessing capital or contracts. MGT Solutions, which led the city’s 2018 MWBE study, will conduct the research, with results expected by late 2025. All developers are encouraged to complete a survey by April 30, regardless of MWBE status. The findings could lead to policy changes supporting equity in real estate. This aligns with the city’s goal to award $60 billion in MWBE contracts by 2030, up from a record $6.4 billion last fiscal year.