RioCan Real Estate Investment Trust and BlackNorth Initiative to Offer New Post-Secondary Bursary for Black Students
July 31 2023 - 8:30AM
Business Wire
RioCan Real Estate Investment Trust (“RioCan”) (TSX:REI.UN) and
BlackNorth Initiative have partnered to offer a Canadian Real
Estate & Trades Bursary for Black high school students.
Launching this July, funding will be dispersed for the upcoming
fall 2023 semester.
By investing in the Black leaders of tomorrow, RioCan continues
to work towards its commitment to the BlackNorth Initiative CEO
Pledge. The bursary, amounting to $21,200, will provide financial
support for students entering post-secondary programs within the
commercial real estate field at accredited schools. The investment
will be key to creating a new generation of Black leaders in the
real estate sector.
“The cost of post-secondary education can be a major barrier,
which limits upward mobility in the employment journey. This
bursary will help level the playing field for Black youth with less
secure financial backgrounds, leading to diverse and inclusive
workplaces from interns to leadership,” says Dahabo Ahmed-Omer,
BlackNorth Initiative’s Chief Executive Officer. “We look forward
to working with RioCan, a BlackNorth Initiative signatory, to
support Black students and foster their future careers in real
estate.”
“Easing the financial burden for Black students interested in
commercial real estate starts to tackle some of the systemic
barriers that Black students have historically faced in Canada and
can contribute to increasing representation in the industry,” says
Jonathan Gitlin, President and CEO at RioCan. “RioCan is committed
to creating a diverse and inclusive industry and workplace. Our
commitment to the BlackNorth Initiative is unwavering, and we are
proud to support the next generation of Black real estate
professionals as they begin their careers.”
The bursary goes beyond a financial investment. RioCan will also
offer recipients mentorship and internship opportunities, providing
the foundation and skillset to build upon throughout their real
estate careers. This investment expands RioCan’s existing DEI
scholarship program, launched in 2021, which supports students
identifying as historically disadvantaged at Toronto Metropolitan
University and the University of Alberta.
About BlackNorth Initiative
The BlackNorth Initiative is on a mission to end anti-Black
systemic racism throughout all aspects of our lives by utilizing a
business-first mindset. We are committed to the removal of
anti-Black systemic barriers negatively affecting the lives of
Black Canadians. For more information, visit:
https://blacknorth.ca/ and follow us on social media
@blacknorthca.
About RioCan
RioCan is one of Canada’s largest real estate investment trusts.
RioCan owns, manages and develops retail-focused, increasingly
mixed-use properties located in prime, high-density
transit-oriented areas where Canadians want to shop, live and work.
As at March 31, 2023, our portfolio is comprised of 191 properties
with an aggregate net leasable area of approximately 33.5 million
square feet (at RioCan's interest) including office, residential
rental and 11 development properties. To learn more about us,
please visit www.riocan.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230731344448/en/
Shelton Mpala Associate Director of Strategic Communications
BlackNorth Initiative 437-997-7110 smpala@blacknorth.ca
Kim Lee Vice President, Investor Relations RioCan Real
Estate Investment Trust 416-646-8326
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