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Speaking of "The Apprentice". It seems that the contestants would e better off coming in second place.
LOS ANGELES (Zap2it.com) As his prize for winning "The Apprentice," Bill Rancic got a job overseeing construction of a skyscraper in his native Chicago.
Runner-up Kwame Jackson, meanwhile, is moving on to building an entire community.
Jackson and two friends and business partners, Erik Moses and David Smith, have founded a company called Legacy Development Partners. Their first major project is a nearly 500-acre development outside Washington, D.C., that they hope will include housing, commercial development, retail stores, parkland and a medical facility.
Jackson says he expects the finished project, in Prince George's County, Maryland, to be valued in excess of $3 billion and provide 32,000 jobs.
"Since appearing on 'The Apprentice', one of the most important lessons I learned from Donald Trump is that real estate can be one of the most successful vehicles for the production of wealth," Jackson says in a statement. "More importantly, this project is about creating a lasting legacy of African-American entrepreneurialism on a grand scale, with a focus on ownership."
The development will be called Rosewood, after the African-American town in Florida that was destroyed in the 1920s.
Legacy is working with NAI Michael Companies, a big developer in suburban Washington, on the project. "The magnitude of this deal is tremendous for us," says Moses, president of Legacy Development Holdings. "... We aspire to make a highly impactful entree into big-time real estate development, setting the stage for future projects to come."
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