ULI Launches Major Fund

(From left to right) James Klingbeil, Douglas Abbey. Image courtesy of ULI

Three influential Urban Land Institute (ULI) members have announced the creation of the ULI Chair’s Fund with $17 million in inaugural donations. The news comes just a month after the organization’s announcement of its Net Zero Imperative program, which aims to achieve one of ULI’s 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 on a global level.

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Thomas Toomey. Former Global Chairman, ULI. Image courtesy of ULI

Former ULI Foundation Chairman Douglas Abbey and former Global Chairman Thomas Toomey each donated $5 million, while former ULI President and ULI Foundation Chair James Klingbeil—through the Klingbeil Family Foundation—made a $7 million contribution. The trio created the unrestricted fund with the intent of offering ULI flexibility in its response to opportunities.

According to Klingbeil, the unrestricted gifts are meant to offer ULI the possibility to decide where the funds should go and how best they can be utilized to innovate, pivot and respond to needs. Toomey compared the fund with unrestricted endowments that top universities use to innovate and expand their programs.

Abbey stated that sufficient funding will allow ULI to utilize its experience in the built environment to focus on helping solve issues from climate change to economic inequity. He added that land use is a vital part of the solution and the company is in an ideal position to generate ideas and best practices.