Ellen Buckley, Founder & CEO, Prospera Real Estate Collective
In an interview with Invest:, Ellen Buckley, founder and CEO of Prospera Real Estate Collective, shared insights on key milestones, challenges in real estate development, the role of neuroscience, transit-oriented growth, and her experiences as a female leader in the industry.
What have been the key milestones for Prospera over the past year?
Since Prospera Real Estate Collective was established less than two years ago, we’ve been focused on laying the groundwork for our long-term projects. Real estate development involves a significant lead time, often four to five years to complete a single project. This past year, our key milestones have included securing several projects, negotiating contracts, and moving these developments into the design and entitlement phases. These are critical steps as we prepare for construction. We’re optimistic that our first project will break ground next year. Beyond the projects themselves, I’d highlight our role as thought leaders in the industry. For me, as a woman in real estate development, advancing thought leadership and challenging the status quo is incredibly important.
We’re pushing boundaries on how real estate development can deliver meaningful value. For example, we’re conducting community immersions to better understand the neighborhoods where we work. In North Miami, I stayed in a community for three days with a resident who has lived there for 40 years. It’s crucial to experience the community firsthand: to touch, feel, and understand the places where we build. This approach helps us bring a human element to our projects. It’s not enough to hold a meeting and leave; we need to build connections with these communities to ensure our developments create a significant, positive impact. Our motto is, “We build places for people.” To honor that, we must fully grasp what’s needed to foster vibrant, livable spaces where people can work, play and thrive.
Which types of projects are presenting the greatest growth opportunities, and how do you see this evolving?
I see significant potential in transit-oriented development (TOD) projects. It’s essential to focus density where it makes the most sense — near transit hubs and infrastructure that can support growth. Miami has seen a tremendous influx of capital and new residents over the past four years. This trend has staying power, and we must ensure that we’re meeting the market’s needs across all socioeconomic levels, from luxury housing to workforce housing. Workforce housing is an area I’m particularly passionate about. There’s a critical shortage of affordable options for middle-income earners, and if we fail to address this, it could hinder Miami’s economic growth. The city has seen fantastic progress in recent years, and we need to sustain that momentum.
While we do work in the luxury sector, we’re putting significant effort into creating workforce housing. It’s a challenging space, requiring innovative solutions to deliver projects that genuinely benefit neighborhoods. For example, we’re partnering with churches to develop housing, with a focus on workforce homeownership rather than just rental units. This approach of offering opportunities for homeownership supports long-term wealth creation and neighborhood stabilization. By enabling families to build equity, we’re helping foster economic resilience and stronger communities. This is the kind of impact that drives us as a company.
What are some of the most pressing challenges developers face given the economic landscape?
The most significant challenge is cost — construction costs, insurance costs and financing costs are all rising. These aren’t new issues, but they’re becoming more pronounced. Additionally, landowners often have inflated perceptions of their property’s value, which can make it difficult to source deals in critical urban areas. Public-private partnerships are a critical tool for addressing these challenges. By collaborating with local governments, we can deliver what our communities need. I’ve worked on such partnerships in the past and plan to continue doing so. However, these efforts require innovative thinking and extracting value in new ways.
With today’s economic forces driving up costs, we must approach deals differently. This includes structuring deals more effectively and advocating for policy changes at the local, state and federal levels to support development. For instance, the Live Local Act in Florida is a good starting point, but it doesn’t address all the economic factors that influence real estate projects. We’re also working closely with legislators to provide feedback on what’s needed to advance these developments. Financing, for example, is a major hurdle, as banks are adopting more conservative underwriting practices. We’re hopeful that inflation will moderate and interest rates will improve in the coming year, which will help get more projects moving. South Florida continues to be a vibrant region, bucking trends seen in other large metropolitan areas. Despite the challenges, the area remains an attractive destination for people and businesses.
What trends do you see shaping transit-oriented developments: mixed-use spaces or adaptive reuse?
Transit-oriented development is evolving with the expansion of transit infrastructure like the Northeast Corridor and Brightline. Expanding transit into more communities is key to reducing congestion and improving access. Miami’s transit system, like Metrorail, faces challenges with limited reach to central hubs like Miami Beach or Wynwood. Expanding access to these dense neighborhoods is vital for urban planning and economic growth. Urbanization is driving demand for pedestrian-friendly streets with sidewalks, shade, drainage and resiliency measures for climate concerns. While some municipalities excel, there’s still progress to make. Developers must create functional, resilient spaces. Regulations, like insurance requirements, can pose challenges, but we focus on building places that stand the test of time. I take pride in creating legacy projects that serve communities for decades to come.
Looking ahead, what are your top priorities for the next few years?
Our mission is to deliver value to people, places and partners by creating spaces that resonate with communities and provide strong economic returns for our partners. We’ll continue disrupting the industry through innovative approaches that are truly innovative, and not just a different shade of the same. For example, this includes our work to apply proven principles of neuroscience to everyday living environments, and thereby seize the untapped potential of real estate development to address America’s long-standing physical and mental health problems. (More to come on that soon!) This also includes community immersion programs, which deepen our understanding of the communities we serve and ensure meaningful impact. Execution is key. As Thomas Edison said, “The value of an idea lies in the use of it.” Ideas are important, but progress comes from action. From residential projects to hospitality developments and workforce housing, we’re focused on building vibrant, lasting communities.
How have your experiences as a female leader in real estate shaped your approach to driving success in the industry?
I’ve always shown up as Ellen Buckley, not as “a woman in real estate” but simply as a human being – as myself. There’s great opportunity for women in this industry. My advice is to show up authentically and bring your unique value. I hope for a future where we aren’t defined by our gender, and gender doesn’t make me a rarity in real estate development. I’ve been navigating this industry since I was 17, starting as the only woman in an all-male construction company. Adversity has driven me to improve and innovate. Breaking glass ceilings takes hard work and persistence, but the rewards benefit ourselves, our communities, and the economy. To anyone facing challenges, man, woman or anything in-between: pursue the challenging things. It’s in those obstacles that we unlock our greatest opportunities.
