Torrey Feimster is championing efforts that pave pathways to accelerated generational wealth through homeownership, thereby helping to close the widening wealth gap. Torrey chatted with Rob Nanfelt about the nuances of this benevolent mission, but it's clear this is a personal passion for Torrey in addition to a mission for good. Previously, Torrey served as Director of Diversity, Equity, and Inclusion at GEM Investments (GEM), a $ 12 billion+ OCIO, where he advanced diversity initiatives and participated in the development of GEM's proprietary impact investing framework, which includes a racial and social equity scoring model. Ascension, incubated within GEM, continues to benefit from this strategic partnership while operating independently.
But the roadmap being put into place by Ascension’s leaders and public/private partners has a list of incredible milestones they intend to hit within the next 6 years. Like delivering over 600 mixed-income houses with a significant portion in the attainable housing price range. He is quick to emphasize that Ascension’s holistic approach to community economic development prioritizes both housing attainability and financial education, ensuring that all residents can have the opportunity to thrive. Discovering the algorithm that will bring this mission to life is why you need to listen to the entire podcast!
“By investing in diverse-price point housing developments, offering educational empowerment programs in financial literacy, and fostering community economic development initiatives, we aim to create vibrant, mixed-income communities where everyone has access to quality housing and opportunities for economic advancement.” According to the Ascension website. It goes on to state that they’re reshaping the narrative on affordable housing in Charlotte by prioritizing sustainable homeownership over traditional rental solutions. While many focus solely on providing affordable rental units, they believe that true empowerment comes from owning a home. By offering affordable homes for purchase, we're not only addressing the immediate need for housing but also fostering long-term stability and generational wealth within our communities.
As is the case with our podcast, we enter the interview with our lighting round questions that inevitably strike gold in revealing the character-shaping events and choices that have shaped our guest. Torrey gives us a glimpse into what drives him, and therefore what is catalyzing the forward movement with Ascension. And it should be noted that the partners in this endeavor include Kingdom Development Partners guided by James Scruggs, a guest who graced our podcast booth in 2024.
In the past, Torrey has served as Assistant to the President and Director of Corporate Relations at Johnson C. Smith University and was Publisher at PRIDE Magazine, Charlotte's premier African American lifestyle publication. He has served on the Board of Directors of the Greater Charlotte Cultural Trust, an organization that provides endowment management and investment expertise to build and grow permanent funds for arts, science, and history organizations in the Charlotte-Mecklenburg community. He received a B.A. in Speech, Communication, and Rhetoric from Wake Forest University, a Certificate in Capital Markets from the Kenan-Flagler Business School at UNC-Chapel Hill, and a Certified Diversity Professional Designation from the ILR School at Cornell University.
https://www.urban.org/sites/default/files/publication/104214/homeownership-is-affordable-housing.pdf
