Taking inspiration from its namesake, Polaris American, based in East Orange, New Jersey, aims to follow its “North Star” as a mission-driven real estate and community development company. Under the ownership of William Crawley and Robin Lenhardt, for eight years it has served urban neighborhoods with a wide variety of services from access to affordable housing to jobs and locally grown produce.
Its secret to success is balancing profitability with innovation and community impact by ensuring that all its projects meet both financial and social objectives.
Advancing progress in the local community, one project at a time
Polaris American lives out its purpose in a number of ways, including providing quality, affordable housing to families who earn low-to-moderate incomes. But that’s not all: It then provides services to assist its residents in tackling critical needs such as job opportunities and youth activities. And because its developments are often located in food deserts—areas where affordable and nutritious food is limited due to a lack of grocery stores and other fresh food services—Polaris American also provides access to locally grown, organic vegetables for residents.
For even greater effect, it partners with local minority business enterprise (MBE) contractors, landscapers and property services in its sub-markets. “These collaborations not only enhance our community engagement but also empower local economies,” says Lenhardt.
Inspiration comes from lived experience
Crawley shares that the concept for Polaris American originates from a devotion to family values. “Their tradition of hard work and focus on freedom born out of their immigration to America and their emigration from the South to the North is what drives us.”
As the company aims to be a guiding light for underserved communities, it concentrates on community development projects that align with its commitment to improving the quality of life of residents and the communities where its properties are located. In addition it provides consulting services, drawing on its vast experience in working with all types of real estate, including small multifamily, subsidized and market-rate private; and public rental housing.
A call to elevate Black-owned businesses
National Black Business Month provides a vital platform for showcasing the contributions of Black-owned businesses by highlighting the innovation and resilience of these entrepreneurs and their significant contributions to the marketplace. “It opens the window to raise awareness about the diverse products, services and talents within the Black business community, thereby cultivating greater recognition and support,” says Lenhardt.
To help advance Black-owned businesses in the community, she points out the importance of access to capital and advisory services in order to build durable businesses that will catalyze economic progress and foster inclusivity. Noting Polaris American’s enduring relationship with Valley Bank, Crawley emphasizes the value of aligning with talented and committed bankers who truly understand the unique challenges facing Black-owned businesses.
As with many Black-owned businesses, access to capital is a key challenge. “We have sought out financial partners like Valley Bank to help us think through the optimal capital plan and structure for our businesses,” Lenhardt says, adding that the strategic insight Valley Bank provided on how to maximize cash flow as they planned redevelopment projects has been particularly beneficial as the company scales.
“We believe in self-help and the need to find good partners, which is why we are grateful for our relationship with Valley Bank,” says Crawley. “Its lenders, branch managers and line staff have always treated us with the highest amount of respect. Once you know where you want to go, they help you find the way. Valley is supportive of our business and our family as we strive to make a contribution to our communities.”
Would your business benefit from this type of support? Find out more about Valley Bank’s business services today.
