Next Thursday, the Community Fund is hosting its first-ever live TREC Shark Tank event at Gilley’s. Three real estate development teams will pitch their proposals to a panel of five well-known investors. Each investor has committed up to $500,000 to one or more projects. Each project will help spur economic growth within the City of Dallas’s GrowSouth footprint.
Who’s ready to make a deal?
Presented by NexBank, TREC Shark Tank will be hosted by WFAA’s Demond Fernandez and open with a conversation between Mavericks Owner Mark Cuban and Dallas Mayor Mike Rawlings. Our teams will then stand before the sharks and audience in hopes of making their real estate dreams a reality.
“Everyone involved has demonstrated a deep commitment to transforming our city. It’s inspiring to work with the development teams and I could not be more proud of our TREC members for all the work they’ve put into supporting the projects,” TREC President Linda McMahon said. “Looking at the ideas that were submitted for this event, it’s clear that there are many creative, community-driven solutions for development in Southern Dallas.”
The process began this past summer, when teams were invited to submit project proposals and five semifinalists were later selected. With help from alumni members of TREC’s leadership development programs, they refined their pitches and three finalists were chosen:
Dr. Michelle Morgan: Morgan’s team seeks to revitalize the former Forrest Avenue Community Hospital on Martin Luther King Jr. Boulevard as a multipurpose medical facility.
Dallas Unity Fund: The team comprised of Doric Earle, Maria Schneider and Hugh Resnick is looking to develop and sell single family infill houses priced for quality workforce housing.
Burchfield & Partners, Inc.: The team led by Managing Director Rodney Burchfield is seeking to construct a corporate maintenance, repair and overhaul (MRO) hangar at Dallas Executive Airport and create a projected 30-60 full-time jobs.
JPMorgan Chase & Co. is the event’s “Lead Shark” sponsor, while Matthews Southwest, Civitas and PurePoint Financial are general event sponsors. WFAA is the event’s broadcast sponsor.
TREC Shark Tank will run from 6 p.m. to 9:45 p.m. on November 2. Guests are encouraged to dress in “casual chic” attire. General admission tickets are on sale for $50, with a $10 discount for TREC members with a promo code. VIP and Insider ticket packages are also available ranging from $110-$150.