Entrepreneur Explores Multifamily
According to the Bureau of Labor Statistics, 91% of the construction industry is composed of men. Following trends in the financial and tech industries, women, and especially minority women, are entering this space at an accelerated rate and bringing a new energy to a field that will need more creativity and more entrepreneurial spirit to keep up with demand.
Behind every great man is a great woman, and when the conditions are just right, a great man can support a great woman as well. In the middle of the recession, Gina Candari started Square Consulting with her husband. They began by flipping single-family homes in Watts as a way of securing future wealth for their family. By the 50th flip, they had a successful business venture and began investigating less acrobatic ways to add value and diversity to their portfolio.
The couple’s first multifamily development, eight workforce homes on Van Nuys Boulevard in the middle of the San Fernando Valley, was financed with a high-LTV Century construction loan. Their vision was to create a strong development team that can “start small and eventually build big,” says Gina. This conservative approach may have saved the project when the GC left unexpectedly. Century showed flexibility as they corrected course and went into operation earlier this year.
Ms. Candari’s success is proof that women builders belong in the construction industry. She says, “At the conclusion of the project, all involved can physically see the results of their efforts by constructing a building that becomes part of its community.”
There is power in numbers and women are just getting started. Gina, and all the women she inspires, myself included, will continue to build a support system to serve as the foundation for future thought-leadership and innovation. Promoting this evolution of the industry, at a time when housing in any and all forms is so essential, is exactly the sort of sound investment Century is here to make.