Devean George, a real estate developer with a heart who also was a pretty good basketball player, made an inaugural investment in north Minneapolis in 2006 that is about to reap a nice return for working-poor families and his old neighborhood.
This summer, George will break ground on Commons at Penn Avenue, a 45-unit apartment building that will include retail shops. It also will house several nonprofits that work with families on education, training and employment. George has fronted or borrowed nearly $450,000 to cover predevelopment costs, including land acquisition and three years of planning.
"It all starts with stable housing," said George last week, sipping a cup of coffee at Sammy's Eatery on W. Broadway. "Education, training, a job and maybe, one day, a family moves on to buy a house. This will work because I have all these good partners."
Tiffany Glasper, a senior project coordinator at the Minneapolis Department of Community Planning and Economic Development, is one of those partners. "This is a good project because it activates an inactive corner that has been a magnet for loitering and crime," Glasper said. "People and activity deter crime. And Devean has gone beyond what most developers do to work with the community."
Although the final financial details, including a $5.5 million city loan that George personally will guarantee has yet to receive final approval of the Minneapolis City Council, the project is considered 97 percent funded and ready to proceed. George has spent long hours shaping and selling the project with City Council members, community partners and business leaders.
"It's the 'Devean George effect,' " said Jeff Washburne, the longtime executive director of the City of Lakes Community Land Trust, a North Side nonprofit that's helped 200 working-class families buy refurbished city homes. "He's a star and he's a team player. He's focused on this neighborhood with time and investment. He's told us that every resident of his Commons at Penn development who is able to buy a house from us means success, and an available apartment for the next family that needs one."
George, 36, a graduate of Augsburg College, is known to sports fans as the small-college star who went on to an 11-year career in the NBA — including three league championships with the Los Angeles Lakers. George, one of the first off the bench to spell star Kobe Bryant or another Lakers starter, was known as a tough defender and unselfish team player.
"Devean told me once that Kobe Bryant was the star and his job was to do the things that Kobe didn't like to do," said Scott Anderson, operations director of Building Blocks, George's three-year-old North Side nonprofit. "Devean is really diplomatic and good at building relationships. He doesn't burn bridges.''