NBA legend Kevin Garnett, 3x NBA Champion Devean George and Carolina Panthers defensive end Charles Johnson announced a new business partnership that emphasizes doing good while doing well. The CGG, LLC group will identify community projects for investment. To date, the group has solidified partnerships with Morgan Stanley and Liberty Bank. Johnson, George, and other business partners made a formal announcement at Johnson’s ribbon cutting ceremony for his Village at River’s Edge affordable housing development at 3 p.m. today at the property (229 McRae St. Columbia, SC 29203).
Recently retired, Garnett is a 15x NBA All-Star, was the 2003-04 NBA MVP, and won an NBA Championship in 2007-08. The future hall of famer was the No. 5 overall selection by the Minnesota Timberwolves in the 1995 NBA Draft. Also with ties to Minnesota, George is a native of Minneapolis. He played 11 NBA seasons and won three NBA Championships with the Los Angeles Lakers. George is currently working on projects in the Minneapolis community. CGG, LLC plans to work together on an affordable housing development in the area.
“To the best of our knowledge, this type of partnership by professional athletes focusing on projects to better serve communities is something that’s never been done before,” Garnett said. “We’re not only working together on strategic and strong business development, but we’re selecting our projects based on what will ultimately have the best impact on the community.”
Johnson, Garnett, and George aren’t new to the business world, but they will also have the help of managing partner Reggie Barner. Barner has 29 years of multi-family housing experience, including 27 years in senior management. He previously served on the Federal Home Loan Bank of Atlanta Affordable Housing Advisory Board. Barner maintains many business certifications, including Executive Management Certification, Mortgage Specialist Certification, and certification as a Housing Finance Development Professional.
CGG, LLC already has some investments and projects underway, including:
· Laney Walker (Augusta, GA) – Planned development with 85 1-bedroom units and 87 1- and 2-bedroom units
· Warren Mill (Warrenville, SC) – Planned mixed use development with 85 – 1-, 2- and 3-bedroom units and commercial space
· Penn Ave. Union (Minneapolis, MN) – Planned mixed development of 47 residential units and commercial space
· New Orleans – Planned mixed use 100 unit development
· FedEx – Ground, Home Delivery, and Line Haul Routes