Addressing Gentrification and Racial Wealth Disparities in Condo Communities: A Call to Action

The Condo Conundrum: Black Residents Fight Gentrification with Entrepreneurship

In many Black neighborhoods, the word “condo” has become synonymous with gentrification and displacement. As new developments pop up, it’s often a sign that higher rents, home prices, and property taxes are on the horizon, pushing out long-time Black residents. Andre Ward, author of ‘Killing the Image’ and a successful boxer, has witnessed this firsthand in his waterfront condo in Boston.

Despite living in a historically white neighborhood for 23 years, Ward has tried to advocate for hiring Black entrepreneurs within his condo complex, with little success. The lack of representation and opportunities for Black residents in the condo market is a stark reality, with over 80 percent of condo owners being white and less than nine percent being Black.

However, Ward sees a potential solution in leveraging the financial power of Black condo owners to support Black-owned businesses. With condo associations spending billions of dollars annually, there is an opportunity to redirect some of that money towards Black entrepreneurs. By advocating for more Black representation on condo boards and committees, Ward believes that Black residents can have a say in where the money goes.

Ward’s own experience hiring a Jamaican handyman for a garage door replacement not only benefited the handyman but also set an example for his white neighbors. By showing that Black workers can deliver quality work, Ward hopes to encourage more Black condo owners to support Black businesses.

Ultimately, the fight against gentrification and the racial wealth gap in the condo market is ongoing. By empowering Black residents to make financial decisions within their condo communities, there is a potential for positive change and economic empowerment. As Ward continues to advocate for Black entrepreneurship in the condo market, he hopes to inspire others to do the same and create a more equitable future for all residents, regardless of race or creed.