Three Urban Land Institute (ULI) leaders have jointly donated $17 million to launch the ULI Chair’s Fund.
Douglas D. Abbey, James D. Klingbeil, and Thomas W. Toomey have created the unrestricted fund to give ULI the flexibility to respond to new opportunities and challenges as they arise.
“ULI will face an ever-evolving set of challenges,” said Toomey. “If it has to identify a challenge or an opportunity and then go raise money, that slows the speed by which it can have an impact.”
Abbey said with sufficient funding, ULI’s unique focus upon the built environment enables it to help solve problems ranging from climate change to economic inequity.
“Land use is an important part of the puzzle, and there is no organization that’s better suited globally to come up with ideas and best practices than ULI,” he said. “Our mission is to transform communities.”
ULI recently announced three new global mission priorities: decarbonizing the real estate sector, educating the next generation of diverse real estate leaders, and increasing housing attainability in communities around the world.
The three leaders hope other members will follow their example and contribute to the ULI Chair’s Fund.