J-Lo aka Jenny from The Block is giving a bit more back to The Bronx along with her beau, former New York Yankees baseball player Alex Rodriguez aka A-Rod, by way of a program aimed at equipping local kids with financial literacy in real estate.
The program, known as Project Destined, was launched by Cedric Bobo with a few students in Detroit who later on met Alex Rodriguez who now heads up A-Rod Corp, a real estate and development firm who convinced Bobo to bring the program into The Bronx.
JLo and A-Rod have also become one of the program’s biggest backers.
Project Destined in The Bronx started with 50 students from 3 local high schools who all learned about the world of real estate including financing.
“I learned about cap rates, which I didn’t know what it was before I came here. I also learned about due diligence,” said Zainabou Darboe, a high school senior. “We had to talk to a lawyer, a banker and a broker.”
The program culminated in a Saturday ‘boot camp’ in the Viacom building in Times Square. Students were divided into six teams, each with a mentor student from Harvard Business School.
“I wanted to bridge two worlds,” said Bobo, himself a graduate of Harvard Business School.
They developed presentations for two Bronx apartment buildings, writing offer letters, and explaining their strategies to finance the properties.
Watch the full video below:
Personally, we’re happy seeing JLo giving more back to The Bronx.