Building the Future: Jaebadiah Gardner on Real Estate, Legacy, and the "Meal Ticket" for Seattle
Jaebadiah Gardner, the founder and CEO of GardnerGlobal, recently sat down for an interview on The Pop-Up! to discuss the arduous but rewarding path of a Black real estate developer in Seattle. Known for his focus on multifamily workforce and affordable housing, Gardner shared deep insights into the current housing crisis, his personal motivations, and the high-stakes world of urban development.
Navigating a Housing Crisis
Gardner painted a stark picture of the current state of development in Seattle. He noted that while the city saw roughly 17,000 units delivered annually around 2019, that number has plummeted to a projected 2,000 units this year.
He pointed to the city's Mandatory Housing Affordability (MHA) policy as a significant hurdle for developers in the current economic climate.
"It’s easy to say we need more housing units and it’s easy to say we have a housing crisis, but it’s more difficult to look at why," Gardner said. He argued that a reduction in MHA costs could rapidly increase housing stock.
The Sarah Queen: A Legacy Project
The centerpiece of Gardner’s current work is the Sarah Queen, an 8-story, 117-unit building planned for 23rd and Union. Named after his late grandmother, Sarah Queen Gardner, the project is deeply personal. Gardner discovered a profound "synergy" when he realized the property, formerly Mount Calvary Baptist Center, shared a name with the church where his grandmother was laid to rest in Spokane, Washington.
"I want this building to be one of those things... where you could walk in and recognize Black women all around," Gardner said of the project's intent to pay homage to his grandmother’s legacy as a community activist and entrepreneur.
The Hustle of the "First Generation"
As a first-generation developer, Gardner spoke openly about the financial "hustle" required to bring a $50 million project to life without inherited wealth. He broke down the costs involved:
Acquisition: $3.75 million to buy the land.
Pre-development: $2.9 million for design and entitlement.
Construction: A $30 million build requiring over $21 million in total upfront capital to secure bank loans.
Gardner is currently in the phase of raising $15 million from institutional investors. "Give me my meal tickets," he joked, referring to the capital needed to break ground. "This is a dope project with an amazing story, a legacy building process.”
Lessons from the Journey
Reflecting on his career, Gardner offered advice to the next generation of Black and brown youth. He emphasized the need for persistence in the face of systemic challenges.
"You got to be consistent with what it is you want to do. You can’t switch the script... because times get hard,” he said.
He also shared a message for his younger self, noting that the hardships of his early life prepared him for the rigors of the business world.
"That pain you already felt…you aren’t going to feel pain like that again,” he said. “So go ahead and just take what you need to take from the universe.”
Learn more about GardnerGlobal at gardnerglobal.com
Tune in to The Pop-Up! weekdays live at 9 p.m. on all Converge streaming platforms.
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