• Politics

by Mitti Hicks

August 21, 2024

USVI Governor Albert Bryan Jr. Is Supporting Kamala Harris

USVI Gov. Albert Bryan, Jr. is supporting Kamala Harris for president. He is one of two Black governors in the country.

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United States Virgin Islands’ Gov. Albert Bryan, Jr., was in the middle of the excitement at the 2024 Democratic National Convention in Chicago, where some moments from day two have become viral on social media. Former President Barack Obama and former First Lady Michelle Obama’s speeches, DJ Cassidy’s set highlighting music from each state during the ceremonial delegate roll call, and the surprise performance from Lil’ Jon to assist Georgia’s performance assisted in the vibes during Georgia’s state roll call are just some of the highlights.

“It was like a party,” Albert Bryan, Jr. tells BLACK ENTERPRISE. “There’s so much energy, and it almost feels like she’s unbeatable with the amount of energy in the room.”

Byran was first elected governor of USVI—a U.S. territory where over 90% of the population identifies as Black—in 2018. He is currently only one of two Black governors in the country. The 13 delegates representing the USVI all back Vice President Kamala Harris for the top spot on the party’s ticket as president and Minnesota Gov. Tim Walz as vice president.  

As a U.S. territory, this is the only official part of the voting process the USVI will have. Residents of USVI and other U.S. territories are not entitled to electoral votes for president, so they can’t vote in the presidential election but can vote in the primaries.

Bryan spoke with BLACK ENTERPRISE about the energy at the DNC, priorities he hopes the next president will consider in the USVI, and what it’s like being one of two Black governors in the U.S.

BLACK ENTERPRISE: Can you describe the excitement at the DNC?

BRYAN: You know how I know people are excited? I passed [notable] people in the hall, like Spike Lee, U.S. Representatives Bennie Thompson, and Gregory Meeks, and no one was paying attention to them because everyone was there for one single purpose: to support Vice President Harris.

There are a lot of young voters and voters who weren’t engaged before excited about Harris’s run. There are a lot of people of color in the room that had me asking, ‘Did the demographics in America change?’ because [it’s clear] African Americans are coming out to vote for Vice President Harris. It’s inspiring to see.

BE: This is your first DNC. Can you talk more about the excitement you’re noticing in the USVI? Is it similar to 2008 when former President Barack Obama ran?

BRYAN: It matches that energy from 2008. because people are excited that she’s a woman, an African American woman, and just a good person; she’s young, vibrant, and caring, so people are excited about that aspect.

BE: What are the top priorities for the USVI with the next person elected president?

BRYAN: At the top of the list is a continuation of the recovery. We just went through a tropical storm that only had winds of 65 miles an hour, yet we had people without power for a week. We want to finish that recovery and give energy independence to individual homes, so if the power lines go down or the power goes out for any reason, they can get power.

In 2017, we had Hurricanes Irma and Maria. To complete that recovery, we need a $1.5 billion match, and our budget is only $1.2 billion a year. By having people in the administration listen to our cause, we were able to reduce that to a number that we could digest and come up with.

Healthcare is paramount. The baby boomers are getting older and living longer, and being able to take care of that generation will put extreme stress on us. We only have one hospital on each island. We’ve had universal healthcare before anybody. We will take care of you no matter what’s wrong with you. It’s going to be an extreme burden on the general fund budget. Right now, we’re pushing to make people healthier.

Inflation is another significant priority. An affordable home in the USVI is half a million dollars, and it will get worse because we’re doing so much construction. We’re growing so fast that it’s putting much pressure on people. We already have a 33% poverty rate.

BE: What is your reaction to being one of two Black governors nationwide?

BRYAN: It’s lonely. We need more than me and Maryland Governor Wes Moore. Moore is a dynamic guy with a bright future […], but we need more.

BE: You are a Kappa Alpha Psi Fraternity, Inc. member. Can you talk about the excitement within the Greek community?

BRYAN: We are all excited. We have a nationwide [campaign] to register 1911 voters for each chapter. We’re calling our friends within the states to make sure they register to vote.

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• Business

by Jeffrey McKinney

August 21, 2024

Will Cyrus Is A Black Real Estate Developer Making His Mark In Dallas

Homes expected to sell for $2 million now part of the pipeline for Purpose Builder & Developments.

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Will Cyrus applies hard work and strong faith to help him operate as an accomplished Black entrepreneur with a multi-million dollar business in the luxury homes market.

He transitioned after being a self-described hustler and growing up in South Florida. The shift came after Cyrus started buying land in 2016 in Fair Park, an urban Dallas neighborhood. He shared his remarkable journey with BLACK ENTERPRISE in August during National Black Business Month.

The president and CEO of Purpose Builder & Developments, Cyrus, between 2017 and 2019, focused on building 10 homes a year priced $250,00 to $350,000 to meet his revenue goals.

Shifting Business Model To Luxury-Homes Market

But then COVID-19 struck. The worst pandemic in U.S. history caused home prices in the Dallas area to double around 2021. That major market impact caused Cyrus to change his business model and center on building higher-priced luxury homes.

After restructuring his business, Cyrus elevated to building homes valued at over $500,000. He says the move made him the first Black homebuilder in his locality to do so.

He added it helped create new opportunities for building generational wealth and paving the way for other Black builders in the community to potentially prosper as well.

Strong Faith In God Making A Difference

Tapping into God as his guide, Cyrus says he was shown that he could build around only six to seven luxury homes and still generate his desired revenue. He carved a niche building custom homes with a rising demand from people who can afford them.

In fact, he learned high-end buyers often are not as deterred by such factors as surging mortgage rates as people in the overall housing market are. “It’s not such a big deal for more affluent buyers to come up with a $1 million or $500,000 down payment on a multi-million-dollar house.”

An entrepreneur, investor and author, Cyrus calls his business a Christian-based, design-build development firm. It offers largely single-family homes that typically run from $1.5 million to $3 million that are sold in Dallas suburbs. Cyrus declares his company now has six projects underway, including three homes expected to sell for $2 million or more.

Cyrus got acquainted with construction by watching his grandfather work in the trade.

“It takes a strong Black man to help build character and work ethic, which I learned from my grandfather I want to instill what my grandfather gave me to the next generation of Black homebuilders and developers.”

Background In Insurance And Investing Own Capital Key Factors

He previously worked in life insurance starting in 2015 for highly regarded brands like Fidelity Investments, Northwestern Mutual, and Mass Mutual, among others.

In those roles, Cyrus says he gained invaluable skills in banking, understanding various financial products, and how to effectively communicate with underwriters. “These experiences were crucial in helping me run my own company and dealing with hard money lenders and big box banks.”

Still, launching his own company was no cinch.

“I invested $75,000 of my own funds and utilized $50,000 of personal credit I had at the time to start Purpose Builder & Developments.”

Simultaneously, establishing his company into a stable, thriving business  came with some obstacles. Much like other new Black entrepreneurs, gaining initial capital to grow was difficult. But setting up connections helped Cyrus conquer that hurdle. “Financing my business is no longer a battle as I have secured strategic partnerships with banks and lenders.”

Overcoming Challenges And Setting High Ambitions For Revenue Growth

Still, there are some barriers remaining. One of his biggest challenges as a Black entrepreneur is dealing with systemic oppressive processes. For example, he says the city can be biased against people of color. “I’ve had to learn to navigate these challenges by building alliances and gaining support in high places, often with the favor of God.”

Revenue-wise, Cyrus expects his company this year to achieve $12 million to $15 million. He says that range represents a 50% increase over the past two years.

Cyrus says God inspired him to name his firm Purpose Builder and Developments after he prayed on on it. He says he knows that’s true because everything like revenue, brand recognition. and connections have steadily flowed in. “A good idea isn’t a God idea, but every God idea is a good idea.”

To help scale up, he plans by early September to launch the Cyrus Collection, a high-end home brand featuring homes priced from $1.5 million to $3 million. This product line will help take our company to the next level because it will offer products for the high-end consumer.”

And Cyrus has ambitions goals, hoping to see revenues reach $35 million to $40 million within the next five years. He says he hopes to accomplish that by forming strategic alliances and partnerships with high-performing Black developers.

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