From Basketball To Real Estate Development Devereaux Peters Leads An Englewood Transformation Project

Devereaux Simoine Peters,
Devereaux Simoine Peters,

From Basketball To Real Estate Development Devereaux Peters Leads An Englewood Transformation Project

 

By Citizen Staff Writer

Devereaux Simoine Peters, former WNBA Player to Real Estate Developer.  Devereaux is the chief principal at Gilead Management and owner of Chateaux 14 Development LLC.   Devereaux played professional basketball for seven years with a boastful career that earned her a Top 20 player title in Lynx team franchise history.


Peters’ basketball career allowed her to play the game of ball here in the United States as well as internationally securing several championships during her time on the court despite a few health challenges. 


 After undergoing a series of 10 surgeries, she was able to conquer those challenges and to chart a new career path, one that led her to hang up her jersey and gather her tools for her next level career as a real estate developer.  She was comfortable with her decision and new path because she felt that it was time to move on from sports.  Peters tried her hand in the real estate market, becoming a realtor first then on to become who she is now as a developer. 


Devereaux Peters was awarded the LIHTC (Low-Income Housing Tax Credit) award, an initiative administrated by the city of Chicago. Peters was asked what the Low-income Housing Tax Credit (LIHTC) means to a project like the one she will be undertaking in West Englewood.  She says that such initiatives work typically as the biggest piece of finance which sort of gives a greenlight to developers that a project is feasible.  It opens doors to more funding and grants. Up until receiving a tax credit a project is only considered conceptual.


Devereaux became the lead on the new Bontemps Apartment project set for West Englewood in the future.  The project started 5 years to 6 years ago by a business partner who no longer had the compacity to see the project to completion. 


Devereaux was tapped to lead the project into fruition.  She believes that the momentum drawn from the Englewood Trails helped to fuel the continuation of the project.  Now the project is going from conception to construction. She stated “It was just the right time.


The Bontemps Apartment project will be housed on the grounds of the former Bontemps   Elementary school.  The project will consist of a 72 unit-multifamily building and a 60-unit senior housing community.


Growing up on the West Side, Devereaux knew firsthand how underserved and disinvested the black and brown communities were across the city.  Although she is a local developer and has no direct ties with the community, she recalled how she and her brother would travel there from time to time with their babysitter who was from the area.   Devereaux’s commitment to uplifting her community is a passion.  Being a champion at what she does isn’t an option. 

 

Peters is part of the Next Generation Capacity Building Initiative, a statewide program led by the Local Initiatives Support Corporation (LISC) and the Illinois Housing Development Authority (IHDA) that prepares emerging developers to move projects from concept to construction. Her project is one of several led by Next Gen participants to receive funding, as state and local leaders, including Governor JB Pritzker in his recent State of the State address, continue to prioritize increasing the housing supply across Illinois.

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