To celebrate Black History Month we highlighted Black owned businesses that have made significant contributions to the Lower Hill Redevelopment (LHR) project and Hill District community. This is something we're going to continue to do throughout the year! Read on to find out more about minority-owned, equity investment partner, Clay Cove Capital, LLC.
With experience in diversified real estate investment, Clay Cove Capital is a key equity investor in the Lower Hill Redevelopment plan and a minority-owned firm co-founded by Amachie K. Ackah, Managing Partner and Chief Investment Officer. With over 24 years of real estate industry experience as a professional in both real estate private equity and development, Mr. Ackah has partnered with master developer, Buccini/Pollin Group (BPG) for over 20 years.
Why is Black History Month important to you?
Black History Month is important to me not only to remember history but also it's important for pride and we as African-Americans, Black and Brown people have contributed so much to the United States and to the world. Whether it's music, science, innovations in agriculture, architecture - we need to understand how we continue to be an important force for innovation and change in the fabric of society.
The story of how we got here is important for all of us to know - white, black, brown or purple. Anything we can do to foster an appreciation and recognition of history is important because when you lose your historical perspective you lose your connection to community. Society is better off, more interesting, more dynamic because of our contributions. I think this month can really be always a reminder for us as adults and to children that we have a duty to ourselves and others, to look back at history, to be proud of what we've done and therefore motivated to do more for the betterment of the world.
Why are you proud to be part of the Lower Hill Redevelopment Plan?
Building and redeveloping in the Hill District Community is a once in a lifetime opportunity that I'm so proud to be part of. The depth of the community involvement we have with all the things we're providing is truly great. We've created an incredible master plan but we're also rebuilding a community physically and restoring the bonds therein. This was a vibrant place that was taken away so you're rectifying tangible historical injustices - real physical redlining and the resulting economic impact from tearing down a neighborhood and building highways around it. It's sad that these injustices occur at an exponentially higher rate for black and brown communities. To be a part of that solution is very, very special.
Together, we've created one of the most innovative reinvestment programs ever in the United States by taking a structure that's been used before, considered the situation in the community and made it very unique. Having a partner like First National Bank has allowed us to monetize and make sure that the capital was accessible on day one. All that we're doing for the reinvestment, things like Big Tom's Barbershop, is encouraging more development investment and economic activity in the Middle and Greater Hill which collectively works to strengthen the neighborhood and community as a whole.
To hear more from Mr. Ackah, check out his episode of Wealth Building Wednesdays where he talks about Clay Cove's cultural connection to the Lower Hill District and why he believes it's a once in a lifetime opportunity.