Mission

1DROP is a collective of underrepresented real estate developers, addressing the Puget Sound housing crisis. We are committed to empowering developers of color to build housing for all wages, all stages, and all ages while growing access to generational wealth. Founded in 2024, the founders collectively have 30+ years of experience with a track record of developing and building 650+ homes from single family to multifamily.

The Puget Sound Housing Crisis

275K

The Puget Sound region needs 275,000 housing units by 2030.

50%

The median rent rose 50% from $1,519 in July 2015 to $2,285 in July 2023.2.

98%

The typical home value nearly doubled, increasing 98% from $353,000 in July 2015 to $700,000 in July 2023.2.

$160K

The highest ever annual income needed to purchase a median priced home.

Disproportionate Impact on Communities of Color

This crisis adds additional layers of inequality, and holds the potential to reverse critical progress that’s been made. Black homeownership in WA state has dropped from 50% to 34% since the 1970s.

50%

Since 2007, Tacoma has lost over 50% of Black homeowners in central neighborhoods.

31%

Of black people own their own homes compared to 68% for white homeownership.

1%

The average of Latina’s net worth is less than 1% of the average white man.

0.4%

Black developers represent 0.4% of the industry.

BIPOC developers are significantly underrepresented

Developers from underrepresented communities have historically been excluded from the planning, design, and building of our neighborhoods.

0.1%

Hispanic developers represent 0.1% of the industry.

>99%

Historically, excluded from 99%+ development.

Breaking the Glass Bottleneck

Removing the Constraints on Black and Hispanic Developers Would Generate Large Economic Benefits. If we removed the constraints on Black and Hispanic developers, by fixing the representation crisis, closing the revenue gap, and leveling the revenue cliffs, there would be:

  • More than 23,000 new Black developers and more than 31,000 new Hispanic developers.

  • More than $106 billion in new revenue each year in the real estate development industry.

  • 1.7 Million New Jobs at Black and Hispanic real estate development companies.

Vision

Imagine a Puget Sound where…

  • Renting and homeownership are affordable

  • ALL people live proudly and with dignity in our community

  • ALL people save and create generational wealth for our families

  • ALL people have representation in the building and improvement of our communities

This starts and ends with building enough housing.

In the next 5 years 1DROP intend to:

  • Support 40 - 60 developers:  Via apprenticeships, mentorships, policy, resources, and funding.

  • Build 2,750 Homes: Addressing 1% of Puget Sound’s housing shortage.

  • Create 7,000 Job Opportunities: From pre-construction to property management and sales.

  • Generate $1B+ Economic Activity: Strengthening local economies and personal wealth of people of color.

Get Involved

  • Champion Us: Advocate for our developers, their projects, and our initiative.

  • Donate: Help us scale the impact of developers of color. 

  • Partner with Us: Collaborate on housing initiatives or development opportunities.

Stay up to date on the impact of our developers and our program or follow @1drophomes on Instagram to learn more!