The Real Estate Council Community Fund is seeking commercial real estate project proposals from Dallas residents and area organizations as part of its second Shark Tank: GrowSouth event slated to take place this fall. To be eligible for participation, interested individuals and/or teams must complete and return a letter of intent to TREC by March 15.
Shark Tank applicants are encouraged to attend an information session and Community Fund bootcamp sessions before submitting a final application by April 30. In early May, project teams selected from the initial wave of submissions will be paired with commercial real estate professionals to refine their proposals. Finalist teams selected to pitch a panel of commercial real estate investors during TREC Shark Tank’s live September 27 event will be notified no later than July 12.
Here is the competition timeline for this year’s Shark Tank event:
- February 22: Call for project proposals
- March 6: Information session
- March 15: Letter of Intent due
- April–May: Real Estate 101 Bootcamps (required)
- April 30: Final proposal due
- May 4: Semifinalists selected and paired with member mentor teams
- May to June: Commercial real estate advisers provide support and semifinalists refine investment proposals
- June 29: Semifinalists pitch to Selection Committee to select Finalists
- September 4: Finalist pitch presentations due to TREC Community Fund
- September 27: Live TREC Shark Tank event at Gilley’s Dallas
Highlighting economic development opportunities in Southern Dallas, TREC’s inaugural Shark Tank event in 2017 was hosted by WFAA investigative reporter Demond Fernandez and featured an opening keynote conversation between Dallas Mayor Mike Rawlings and Dallas Mavericks Owner and ABC Shark Tank series staple Mark Cuban. Each of the three finalist teams received project funding from five prominent Dallas real estate investor sharks:
- Rodney Burchfield and Burchfield & Partners, Inc. received a $1.35 million deal from sharks Tillie Galan Borchers (GrowSouth Fund), Bill Cawley, Michael W. Dardick, Craig Hall and Frank Mihalopoulos to construct a 70,000 square-foot corporate maintenance, repair and overhaul (MRO) hangar at Dallas Executive Airport, which the company anticipates will create 30-60 full-time jobs.
- The Dallas Unity Fund, led by Maria Schneider, Doric Earle and Hugh Resnick, received $250,000 from the GrowSouth Fund represented by Tillie Borchers to help develop and sell single family infill houses priced for quality workforce housing.
- Michelle Morgan and her group Vector Studies, LLC. Received $500,000 from the sharks to revitalize the former Forrest Avenue Community Hospital on Martin Luther King Jr. Boulevard into a multipurpose medical facility featuring a dialysis center, imaging center, urgent care center and medical and dental assistant schools.
About The Real Estate Council (TREC) Community Fund
The Real Estate Council represents more than 2,000 professionals and 600 companies that spark community transformation, influence policy, and propel careers through networking, educational programs, and leadership development. TREC Community Fund, a 501 c3 organization, provides nonprofits and for-profit organizations in Dallas and Collin Counties with access to capital for commercial and real estate projects. Through flexible loans paired with technical assistance, businesses and organizations have access to the tools needed to build the community they envision. TREC Community Fund is certified by the United States Department of the Treasury as a Community Development Financial Institution (CDFI).