While some athletes invest their millions in luxury items like lavish cars, clothes, and vacations, former NBA player Devean George is investing in his community.
The 11-year NBA veteran who retired in 2010, played for the Lakers, Mavericks, and Warriors before calling it quits to focus his energy on the city he grew up in. Through his own organization, George Group North, George is looking to bring new developments to the underserved North Minneapolis neighborhoods where he spent his youth.
Commons @ Penn Avenue is a proposed 45-unit affordable apartment project in the planning stages with 4,500 square feet of commercial space. The project has an $8.9 million budget and next week the Minneapolis City Council will consider issuing up to $5 million in housing revenue bonds to finance the project. A $1.125 million loan from the city’s Affordable Housing Trust Fund has already been approved.
This is not his first foray into real estate. George was a partner on the recently completed Marketplace & Main, a 54-unit market rate project in downtown Hopkins, and plans to continue to work at revitalizing an area of Minneapolis in great need.
So now it’s your turn Kobe and LeBron. I hear both Los Angeles and Miami are both in need of more affordable housing. Lord knows you’ve got the cash.