Today’s interview is with investor and real estate developer Booker T. Washington. He’s known for his groundbreaking project in southwest Atlanta, South Park Cottages in College Park, which is billed as the first Black-developed micro-community in the United States.

Booker’s vision as a developer is to democratize home ownership. Micro-communities make that possible, with each of the 29 homes at South Park Cottages being accessible and affordable at a price point of $180K-$230K per property.

Listen in as Booker discusses the many challenges of developing a micro-community in southwest Atlanta, how the three acres of South Park Cottages maximizes homeowners’ lifestyle, and his plans for future micro-home developments in more urban locations.

Highlights
1) Tap into the power of collaborative economics by tying a good vision to a good strategic plan. Collaboration often fails to last because one of these two pillars are missing: an inspiring dream and consistent, purposeful action to bring that dream to fruition.

2) Developers should focus not only on the properties they sell, but on the quality of the neighborhood as well. Prioritizing quality of life maximizes longevity of value, which by extension maximizes the potential of homeowners to build generational wealth.

3) Micro-homes are not for everybody, but households of various sizes may find living within 600 sq ft as ideal compared to paying average rent in an urban area. Oftentimes, rent in an urban area is twice as much as a mortgage in the same area.

How to find him
Website - www.southparkcottages.com
Instagram - @mr_booker_t

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Timestamps
1:05 - Defining “micro-home community”

2:11 - Why Booker was inspired to develop South Park Cottages

4:02 - Raising capital for the project

5:45 - How to foster collaboration

7:08 - Energy efficiency in micro-homes

9:30 - Focusing on neighborhood quality

10:20 - Why South Park Cottages sold out within 30 days of the pre-sale period

12:26 - The average price of a South park Cottage micro-home versus the average home price in southwest Atlanta

13:36 - Options for buyers

14:54 - Why Booker believes that the micro-community model can be replicated in most urban areas

16:22 - How Booker’s mom inspired him

18:02 - How to contact Booker

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