Each year, Midwest Real Estate News elects a new class to its Commercial Real Estate Hall of Fame. Here’s a look at one of our new inductees, Shannon Morgan, founder of Renovare Development in Detroit.
Shannon Morgan has always had a passion for place, a passion that has fueled her career in real estate. As a mother of two boys, one with Autism, she understands the importance of community and home. That’s why Morgan’s career of building, rehabbing and developing housing within urban areas and rural main streets throughout the country has been such a good fit.
During Morgan’s 25-year career, she has completed more than 20,000 units of housing and has worked on award-winning projects that have redefined the built environment.
During the housing crisis, Morgan collaborated with legislators and municipalities throughout Michigan and Ohio to help create solutions through the Neighborhood Stabilization Program. She has also been a partner in multiple Low-Income Housing Tax deals including the Gateway, an adaptive re-use of a former historic high school into seniors housing that won the Charles L. Edson Tax Credit Excellence Award and the 2016 Governor’s Award for Historic Preservation.
Morgan has also worked on the Grandview Marquette project, an adaptive re-use of a historic orphanage into workforce housing, which won the 2018 Governors Award for Historic Preservation.
What has kept Morgan involved in this field for so long? She says that she most enjoys “creating the vision for specific community assets, while working with local stakeholders on projects that redefine the built environment for generations to come. Also, being able to use that experience to positively impact land-use policy.”
In 2018, Morgan partnered with longtime colleague Jill Ferrari to launch Detroit’s Renovare Development, a predominantly female-owned social-impact development company that focuses on transformational projects that serve deep community needs. Renovare is currently working to create attainable housing and community-centric commercial spaces through partnerships with local stakeholders throughout Michigan.
Morgan’s peers have recognized her work. She received the 2019 Lifetime Achievement Award for Redevelopment in Brownfield on behalf of the Center for Creative Land Recycling and the 2018 Richard Baron Award for Affordable Housing on behalf of LOCUS and Smart Growth America.
To further serve her community, Morgan serves on numerous boards including the National Steering Committee for LOCUS/Smart Growth America, the Technical Assistance Advisory Council for the Michigan Economic Development Corporation, The Housing Plan Partner Advisory Council for the Michigan State Housing Development Authority, ULI MI Advisory Board and the Michigan Sense of Place Council.
Morgan continues to be a leader in housing and land-use policy and has worked on state and federal legislation. She is currently working with the Coalition for a Strong and Prosperous Michigan to pass legislation to implement Michigan’s American Rescue Plan funding.
Morgan has followed a simple strategy to succeed in this business. She identifies development tools and trends early and works to integrate them into projects. Morgan has worked hard, too, on identifying creative funding sources and completing projects that other developers had previously failed to deliver.
“I’ve built a national network of peers, advisors and mentors and have been persistent on following through on project completion, earning the reputation as a trusted ally to local and state government,” Morgan said.
When not working, Morgan enjoys cooking for her family and spending time at her cottage and in nature.
