Buwa Binitie- Providing Luxury Affordable Housing (#58)

John Coe and Buwa Binitie Bio Buwa Binitie, Managing Principal As Managing Principal of Dantes Partners, Mr. Binitie directs the acquisition, development, management, and financial activities ofthe firm. Mr. Binitie has an extensive tax credit financing experience (LIHTC, NMTC and HTC) and has closed on financing from nearly every public capital source available including HOME, HPTF, NSP, CDBG and NIF. Mr.Binitie maintains a narrow focus on creatively structuring deals that strive to address the need of his clients,community stakeholders as well as various government agency partners. By narrowly focusing on efficiently financing community development transactions, Mr. Binitie has been successful in adding value beyond the numbers. Mr. Binitie’s career is underscored by a commitment to creating and preserving affordable and workforcehousing. To this end, since founding Dantes Partners, Mr. Binitie and his team have closed over $1 Billion of unconventional real estate transactions that utilize low-income tax credits, new market tax credits, tax-exempt bonds, and various other forms of alternative financing. These efforts have led to the creation of over 3,000 units of workforce and affordable housing. Mr. Binitie speaks regularly at industry focused events, including sessions with The Minority Resource, African American Real Estate Professionals, Bisnow, DC Building Industry Association, Georgetown University, Colvin Institute of Real Estate Development at University of Maryland, and the Howard University Real Estate Club. Mr. Binitie is currently the Chairman of the DC Housing Finance Agency Board of Directors and serves as a Board Member for the DC Building Industry Association. Mr. Binitie previously served onCity First Bank’s board where he was a member of the Audit and Compliance Committee, the Business &Community Development Committee, and the Directors Loan Committee. He also Co-Chaired Reopen DC (RealEstate Task Force and Mayor Bowser’s Rental Housing Market Strike Force). Education and Awards B.S. New York UniversityM.S., Real Estate Development, Johns Hopkins UniversityLeadership Greater Washington Class of 2016Alumnus, Urban Land Institute’s Real Estate Apprenticeship Program (Project REAP)2010 African American Real Estate Professionals’ Economic DevelopmentAwardee2015 Washington Business Journal Minority Business Leaders AwardeeWashington Business Journal Power 100 class of 2021 Show Notes Current Role He leads the companies. Dantes Partners is now a company of companies (5:00)Pandemic has caused them to be more focused and is positive for their company (6:25)Recession in 2008-9 were best years until 2020-21 which were even better (7:10)Moment in time that they could be propelled (7:50)Tap into social issues (8:00)Focusing on what makes company great (core competencies) (8:30)Deals need to be “quality deals” (8:50) Origins Born and raised in Nigeria (Lagos) (9:30)Parents are successful entrepreneurs (9:45)Dad was a pioneer in dry cleaning (10:00)His Dad and Mom were college educated (10:30)Siblings were more studious (10:45)He wanted to be an entrepreneur and academics didn’t interest him (11:00)Not accepted in any college in Nigeria (11:50)Parents wanted to send him abroad to school (12:15)His siblings’ performance sti...