RioCan Real Estate Investment Trust and the BlackNorth Initiative have announced a partnership to support Black students entering post-secondary and trades programs within the commercial real estate field at accredited schools.

Launching this month, the $21,200 bursary will be disbursed for the upcoming fall 2023 semester. RioCan will also offer recipients mentorship and internship opportunities as part of the partnership, which builds on its existing DEI scholarship program launched in 2021.

“The cost of post-secondary education can be a major barrier, which limits upward mobility in the employment journey. This bursary will help level the playing field for Black youth with less secure financial backgrounds, leading to diverse and inclusive workplaces from interns to leadership,” Dahabo Ahmed-Omer, BlackNorth Initiative’s CEO, said in a statement “We look forward to working with RioCan, a BlackNorth Initiative signatory, to support Black students and foster their future careers in real estate.”

The BlackNorth Initiative is a non-profit organization that works to end anti-Black systemic racism and break down barriers to business and wealth creation in Canada.

Meanwhile, RioCan is of Canada’s largest real estate investment trusts. It owns, manages and develops retail-focused, increasingly mixed-use properties, and as of March 31, 2023, RioCan has 191 properties with an aggregate net leasable area of approximately 33.5 million square feet.

“Easing the financial burden for Black students interested in commercial real estate starts to tackle some of the systemic barriers that Black students have historically faced in Canada and can contribute to increasing representation in the industry,” Jonathan Gitlin, president and CEO at RioCan, said in a statement. “RioCan is committed to creating a diverse and inclusive industry and workplace. Our commitment to the BlackNorth Initiative is unwavering, and we are proud to support the next generation of Black real estate professionals as they begin their careers.”