Alright – so today we’ve got the honor of introducing you to Jill Ferrari. We think you’ll enjoy our conversation, we’ve shared it below.

Jill, thanks for taking the time to share your stories with us today Are you happier as a business owner? Do you sometimes think about what it would be like to just have a regular job?

Renovare Development was launched in 2019 to develop transformational projects that serve a deep community need. Our strategy was to find potential commercial real estate development opportunities such as workforce housing and mixed-use projects that could take advantage of federal stimulus dollars that would soon be coming down from the federal government. However, the COVID pandemic changed our business trajectory. Our access to investment dollars was impacted significantly, and we faced issues in our attempts to raise organizational equity. I remember looking at job postings during that time, wondering what the stress level would be for a person in each of those positions. I was longing for stability, certainty and peace of mind. But a wise friend once told me that almost everything is temporary. In late 2021 we closed with our current investors, and our path forward has been strong since then. Looking back, I am very glad that I stayed the course and did not make the decision to take a full time job.

Awesome – so before we get into the rest of our questions, can you briefly introduce yourself to our readers.

I am a commercial real estate developer with over twenty-seven years of experience redeveloping brownfield, vacant and underutilized sites. My background includes real estate development, private law practice, consulting and community development. In 2019, I co-founded Renovare Development, a majority woman-owned commercial real estate development company focused on transformational projects that serve a deep community need. Currently, Renovare has over 90 million in the development pipeline throughout Michigan, including multiple attainable single-family housing projects and mixed-use developments containing childcare facilities, grocery stores and workforce centers. Renovare Development was named one of the “Top 20 Entrepreneurs Disrupting their Industry in 2023” by Disruptors Magazine.

I was named a Crain’s Detroit “Notable Executive in Real Estate” in 2021, a GlobeST Magazine “Woman of Influence” in 2021, a 2017 “Woman of Distinction” by the Wayne State University Council on the Status of Women and a 2016 winner of the Melvin Simon Award from the International Council of Shopping Centers (ICSC) Foundation. I am the former Co-Chair of the Urban Land Institute (ULI) Michigan District Council and the founder of ULI Michigan’s Women’s Leadership Initiative, designed to promote leadership for women in the real estate industry.

I am also a founding board member of the Women’s Sustainable Development Initiative, whose mission is to support emerging women commercial real estate developers who are Black, Indigenous, and Persons of Color (BIPOC). www.womendevelop.org

I am the product of a single mom. She lost my dad to cancer when she was 40 years old and we were still in grade school. We refer to her as “Wonder Woman,” because she escaped death many times in her life before finally succumbing at the accomplished age of 79. She made me who I am. I am the very proud adoptive parent of a fierce and beautiful Latina child who is my reason for being and an active ally to the LGBTQIA+ community. I am an award winning screenwriter and am in the process of writing my first novel.

How’d you build such a strong reputation within your market?

I was at a “view from the top” dinner once where experienced women in real estate were seated with young professionals, and this question arose. “What is the most important thing for a young woman in commercial real estate to focus on?” I expected the hear “confidence” as the answer. Many women are told that confidence is the most important trait for a woman, especially in commercial real estate, where women are so significantly underrepresented. However, Donna Inch, the CEO of Ford Land at the time, told our table that “competence” was the only thing that mattered.

This was the best advice I have ever received. It has been my focus to build competence through constant learning and exposure to information. Through that effort, I have built a reputation of expertise when it comes to economic development tools for commercial real estate development. It has carved a unique space for me in my network and helped me attract investment for my company.

Have you ever had to pivot?

In 2007, I was hired to assemble and entitle almost 100 acres on the Las Vegas strip. After our site plan was approved and we successfully expanded the gaming district to include our site, the value of the property was increased almost tenfold. The site was selected as the location for a new arena and was awarded over 200 Million in incentives by the City of Las Vegas. In August of 2008, the markets started to destabilize, which led to chaos in the commercial real estate industry. I was asked to stay in Las Vegas and manage though the chaos. I elected to move back to Detroit and work in community development. This required a pay cut. For years, I questioned this decision. Fifteen years later, I can attest that it was absolutely the best decision for me at that time. The experience I gained in community development has been invaluable as I launch a mission-based private commercial real estate development company. Having a diverse career prior to founding my current company has created a deep pool of knowledge and experience to pull from. It has also helped develop a broad network that has added tremendous value to our growth.

Contact Info:

• Website: www.renovaredevelopment.com
• Instagram: @ferrarijill
• Linkedin: www.linkedin.com/in/jill-ferrari-she-her-6729891

Image Credits
Renderings care of Barry Polzin and Associates