Business and Finance
Black-owned company will oversee $215 million renovation of Charlotte Hornets arena through joint venture

As we embark on the second largest revenue-generating project in history, DA Everett Construction Group (DAECG) plans to start work this spring on a $215 million renovation of the Spectrum Center in North Carolina.
Founded by Donovan Everett in 2013, DAECG is improving the house arena of the NBA’s Charlotte Hornets in a joint venture with industry powerhouse Turner Construction.
The project, called “The Reimagine Spectrum Center,” will feature many improvements. These include providing more meeting space for fans, adding 2,500 seats on the lower level, improving concourses, improving the suites and founders’ levels, making a recent club space and increasing social gathering space near food and beverage areas.
Improving the company’s strategic growth and visibility
Everett said BLACK ENTERPRISES that his company’s shares are 20%. This means the project will generate an estimated $15 million to $20 million in recent revenue for DAECG this 12 months and roughly $25 million in 2025, when most of the facelift will be performed. Work will begin in May 2024 and is predicted to be accomplished in time for the 2025–26 NBA season.
This high-profile project is predicted to have a significant impact on DA Everett’s growth strategy and make it a more visible player in a highly competitive industry. The Black-owned construction management and general contracting company projects revenue of greater than $100 million this 12 months, up from a record high of just over $70 million last 12 months. New projects like Spectrum and existing ones are expected to drive profits.
Revenue aside, Everett says the Spectrum deal will, in some ways, be a windfall for the company long after the work is accomplished. “This project has gained a lot of attention locally and nationally, allowing us to become ubiquitous. This will further position us to secure other large commercial projects and public gatherings at the local and regional level that we would otherwise be unprepared for.”
With over 25 years of experience, Everett has led and accomplished business construction projects valued at over $2 billion. As president and CEO of DAECG, Everett’s current responsibilities include executing the company’s growth plan, supporting strategic partnerships and constructing high-performing teams.
Increasing experience as a contractor of sports and entertainment facilities
Everett says Turner Construction and his company won the Spectrum Center contract approved by town of Charlotte after competing against two other reputable firms. He says Turner’s successful completion of the renovation of the State Farm Arena for the Atlanta Hawks and his company’s recent renovation of the Bojangles Coliseum-Oven Auditorium in Charlotte were the catalysts that showed the businesses were one of the best team for the endeavor.
“This project gives DA Everett greater visibility of our qualifications and capabilities and allows us to strengthen and develop our experience as sports and entertainment contractors,” says Everett.
DAECG largely provides advanced planning, pre-construction and construction management services. It serves multiple sectors including automotive, healthcare, higher education, life sciences, public gatherings and government. It operates in North Carolina, South Carolina and the U.S. Virgin Islands.
The company currently has 14 energetic projects in North and South Carolina. Its current confidential life sciences project within the Charlotte area is 100% DAECG audited. Everette claims to be the company’s largest source of revenue, generating $69 million. Other major projects include the NC Department of Health and Human Services’ $250 million Phase 1 campus project in Raleigh. Another involves Winston-Salem State University, a $51 million renovation of an auditorium for an HBCU in North Carolina.
Maintaining growth despite challenges
To facilitate and sustain the company’s growth, Everett and his team intentionally set lofty goals. He says this includes continually reviewing whether the company is meeting its financial performance goals and implementing its strategic plan. “We experienced some challenges and setbacks along the way, as is expected in this business, but we never lowered our goal; we assessed, we looked for lessons and we kept moving forward.”
He shared that over 80% of his company’s revenue comes from repeat clients and freelance work. He added that the company has a solid portfolio, with projects on the backlog through 2027. Its ambitious revenue goal is to turn into a stable $250 million company by 2030. “We will continue to dig deep into the markets we currently serve, and we will continue to drive excellent service to our customers.”
Everett says his company will continually monitor the health and development of recent markets. This requires identifying geographic expansion opportunities in areas of the southeastern United States, resembling Atlanta. “Atlanta has a great, inclusive business environment, especially for Black-owned businesses, and the vertical markets we serve have a strong foundation for continued construction growth in this metro market.”
Finding a distinct segment and filling the void
The enterprising entrepreneur initially selected another choice to finance his business because he didn’t need to seek traditional bank financing. “I decided to raise private capital worth PLN 150,000. dollars from ‘rich uncle’ to start a business.” Everett’s company has received frequent awards for its work, including this one recognition.
Everett was introduced to the industry after growing up in a construction and real estate investing family and dealing for his father’s home construction company. His experience includes working for over 10 years on major construction projects for Balfour Beatty before founding DAECG to manage his own destiny.
“I also observed a vacuum in the market for Black-owned commercial construction companies that were operating at scale or did not seem growth-oriented after years of operation.”
Business and Finance
Live Nation plans to improve the Atlanta Center with an investment $ 5 billion

Live Nation Entertainment invests in its portfolio of real estate, committing to a plan value $ 5 billion to update the center of Atlanta about the district of the stadium.
The live entertainment company plans to rent a spot for 5,300 places at the Centenary Shipyard in Atlanta. Currently developed next to State Farm Arena and the Mercedes-Benz stadium, a mixed megaproject costs $ 5 billion.
According to Live Nation Will cooperate with sports teams and real estate programmers on the undertaking. The owner of Atlanta Hawks, Tony Ressler, whose team is playing at the arena, and his brother Richard Resssler, the owner of a CIM programming company, have already began introducing the project to realization.
“The fact that Live Nation decided to be in the center of Atlanta is a great matter,” said the co-founder and director of CIM, Shaul Kuba. “We are creating a completely new market in Atlanta, which did not really exist before.”
It focuses on stadiums as a central element. However, the inclusion of Live Nation will ensure readiness and skill to bring artists from the list A in the center of Atlanta. His concert place will turn into one in every of the largest live internal theaters.
While the project guarantees to help the city of a fighting in the city center, economists don’t seem to sell in the neighborhood model at the stadium. Opposes experts say that projects use taxpayers’ funds to reverse expenditure from the community to the latest stadium.
Reflection of the city itself, the center of Atlanta (*5*)it stays variedAccording to black people, they constitute 48% of his population, according to. However, his financial and residential slowdown, escalated during a pandemic, makes him a brand new trial place for stadium districts.
Until now, the centenary has made slow progress due to approval, permits and partnerships of city officials. In the case of only $ 1.3 billion in his budget, he has 162 apartments, brewery and pavements established in the area.
However, for the World Championships in 2026, a team of programmers hopes to complete a 304-unique apartment complex, together with hotels, restaurants and retail trade. In addition, he hopes to construct an addictive bar from cinema-sports, which might fit 1,500 participants.
In addition to investing in the creation of space in the center of Atlanta, Live Nation also plans to add 20 more places to its portfolio until 2026. He hopes to play an vital role in the developing entertainment industry and real estate in sport.
)
Business and Finance
The company supported by Aliko Dangot acquires POLLMAN Kenya trips
Africa Travel Investments, concentrated company acquired Pollman’s trips and safari, the oldest organizer of Kenya trips. The agreement emphasizes the numerous trust of Private Equity in the long run of the Kenya tourist sector, a key factor contributing to the national economy.
The Competition Office in Kenya (CAK) previously approved the takeover of Africa Travel Investments in the quantity of 100% of the Pollman’s issued share capital.
Pursuant to the CAK statement: “In relation to the proposed transaction, after merger, the share in the integrated entity’s market will not change, because the goal and the buyer is not in a similar company, and therefore this will not affect the structure and concentration of markets for tour operators in Kenya.”
This takeover occurs after the February investment of Alterra Capital, the Private Equity fund supported each by Danglot, the richest person in Africa, together with chairman Dangot Cement, together with the American billionaire Dave Rubenstein, on the ARP Africa Travel Group, Pollman’s mother company. According to CAK, connection won’t be going to affect A competitive landscape of the concert market in Kenya, including the obligatory focus of adventure and abundant safari.
The regulatory authority also determined that the acquisition won’t be going to adversely affect the employment or competitiveness of smaller firms contained throughout the industry.
CAK said: “The office also stated that the contract does not pose a threat to jobs or competitiveness to small companies, two of the key fears related to the law to Kenya. The parties indicated that they would not cause any losses of employment from the takeover.”
According to the Nigerian tycoon, it’s value $ 23.2 billion. Vast business empire dangot Include Dangote Cement, a serious cement producer on the continent with operations covering 10 African nations. His investments also include the production of fertilizers in Nigeria and the recently operational refinery of Dangot.
The acquisition of Pollman by the entity supported by Danggot signals diversification to the promising tourism market in Kenya.
)
Business and Finance
Fenty joins forces with New York Liberty
Fenty Beauty and Fenty Skin Rihanny transferred their WNBA partnership to the subsequent level, concluding a brand recent contract with the prevailing masters, New York Liberty, to point into an official sponsor of the band’s makeup and sweetness sponsor – announcement on May 7.
According to whom Rihanna gave an exclusive interview After the partnership is announced, the offer means the first Fenta trip in business with WNBA. It will likely be They entail the Fenty logo on the good and comfortable -up jackets before playing the team and shooting the sleeves, along with some activations contained throughout the sphereD Moments of discovering the product.
“I have always said that makeup is to have fun, express myself. This should reflect the atmosphere, a moment, personality – whatever you want. I am excited, seeing how amazing women from New York Liberty put the faces of the game and I am proud that they have fenta beauty and fasting skin this season,” said Rihanna.
https://twitter.com/fentyheadlines/status/192012387318405353?s=19
Freedom also probably comprises the suitable mascot in all sports and The most recognizable and dense WNBAEllie The Elephant and Pachyderm coded in a black woman will likely be an infinite a component of activation contained throughout the sphere and other promotions which is able to emphasize cooperation between the team and the Fenty Beauty and Skin Rihanna line.
As Shana Stevenson, director of the Liberty brand, said with reference to the mascot of the Liberty brand, Ellie represents the position of Liberty in Brooklyn and the energy of the district on the extent that does several other mascots.
“The person we know today as Ellie interrogated during this open interrogation, and simply surprised us with his talent and interpretation of Ellie,” Stephenson reminded the shop. “It was so different, so fresh, so harsh. And we said:” This is our person. ” And I also felt a very New York, very Brooklyn in a way we didn’t see before. “
Keia Clarke, General Director of New York Liberty, expressed the band’s emotions from sponsorship with Rihanna’s cosmetic brands. Clarke believes that Fenty and the team divide values paying homage to supporting women and celebrating individuality.
“New York freedom is excited about working with Fenty Beauty-Pioneer, which shares our values of supporting women and celebrating individuality, authenticity and confidence. Adaptation with similarly thinking brands allows us to provide significant connections and experiences that really resonate with our fans. Together we will include strengthening, courage and involvement in creativity,” said Clarke contained contained contained throughout the statement.
On the heels of the MET gala, which some Liberty players, paying homage to Jonquel Jones, Brenna Stewart and Sabrina Ionescu, along with Rihanna herself, Rihanna mentioned her faith that New York is perfectly embodded by the Liberty team In a press release.
“There is no energy and spirit like New York,” Rihanna said in an announcement. “Women from New York Liberty are an example of such beauty, power and strength, so Fenty Beauty and Fenty Skin have become part of their journey this season, he is amazing. We are excited to cooperate with them to get the faces of the game.”
New York Liberty (T) Ellie The Elephan (T) Rihanna (T) Fenty Beauty
-
Press Release1 year ago
U.S.-Africa Chamber of Commerce Appoints Robert Alexander of 360WiseMedia as Board Director
-
Press Release1 year ago
CEO of 360WiSE Launches Mentorship Program in Overtown Miami FL
-
Business and Finance11 months ago
The Importance of Owning Your Distribution Media Platform
-
Business and Finance1 year ago
360Wise Media and McDonald’s NY Tri-State Owner Operators Celebrate Success of “Faces of Black History” Campaign with Over 2 Million Event Visits
-
Ben Crump1 year ago
Another lawsuit accuses Google of bias against Black minority employees
-
Theater1 year ago
Telling the story of the Apollo Theater
-
Ben Crump1 year ago
Henrietta Lacks’ family members reach an agreement after her cells undergo advanced medical tests
-
Ben Crump1 year ago
The families of George Floyd and Daunte Wright hold an emotional press conference in Minneapolis
-
Theater1 year ago
Applications open for the 2020-2021 Soul Producing National Black Theater residency – Black Theater Matters
-
Theater12 months ago
Cultural icon Apollo Theater sets new goals on the occasion of its 85th anniversary