2023 Fall Issue of Urban Land - 80

Avanath Capital
Management founder,
chairman, and
CEO Daryl Carter
in 2019 providing
Congressional
testimony on
Capitol Hill
Even joining the ULI global board was a
hard sell for Carter. When initially approached,
he turned down a couple of people, including
Doug Abbey, chairman emeritus of Swift Real
Estate. Abbey describes Carter as a " pioneer "
in the industry. " He's very knowledgeable
about real estate, and he's knowledgeable
about cities, and he's knowledgeable about
housing, " Abbey says. " He was able to put all
of those skills together to basically create a
new business in bringing institutional capital
to the affordable housing business. "
Carter credits Abbey as a " great mentor
and friend. " Even so, Carter says. " If you really
want to know the true story, I served on the
ULI global board 30 years ago, and it was not
the most pleasant experience, " Carter recalls.
One example was when he and some other
younger members expressed concerns about
a global board meeting occurring on Halloween.
After the younger members voiced their
desire to be at home with their children, other
members suggested that the younger members
be content with their wives' taking their
kids trick-or-treating instead.
80
URBAN LAND FALL 2023
Carter's skepticism about joining the global
board this time ended after he was contacted
by a ULI " secret weapon, " new global chair
Diane Hoskins, with whom Carter has shared a
friendship since their days as students at MIT.
" I couldn't say 'no' to Diane, " Carter recalls. " I
knew she was a possibility for being chair . .
.. So, yes, Diane is the one who recruited me
on the board, and particularly now that she's
chair, I'm happy to be on her board. "
Hoskins says that when it was time to look
for potential board members, she had no
questions about how valuable Carter's presence
there would be. His expertise and insight
regarding housing are also invaluable as ULI
shapes its initiatives.
" We need him, " Hoskins says. " We need
people like Daryl. We need people with his
deep knowledge and experience, and his optimism,
and, frankly, Daryl is outspoken . . . he
tells it like it is. It's important to have people
like that in the room, because that's how
progress is made. "
Also a former chair of the National Multifamily
Housing Council, and its first African
A V ANA TH CAPIT AL

2023 Fall Issue of Urban Land

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