Back in 1938, an American billionaire real estate developer was born in Rochester, New York. When young David Walentas was 5 years old, his father had a paralyzing stroke, leaving his mother to work two jobs, and his two brothers were sent off to work at farms as indentured orphans. At the University of Virginia, Walentas received a Bachelor’s degree in mechanical engineering. Continuing to live in Brooklyn, Walentas married, has two grown children and is a passionate polo player. In 1968, David Walentas founded the company Two Trees Management, which today is synonymous with the renaissance of Dumbo, Brooklyn. In 2015, Walentas had a net worth just shy of $2 billion.
In 1997, son Jed Walentas joined the team as a principal of Two Trees Management Company. Jed calls his father David, and has called him that for as long as Jed could talk. David still shows up to the office every day, however, Jed is head of the firm that has developed and managed more than 4 million square feet of commercial and residential real estate in the New York area, and has more than $4 billion in holdings. Two Trees owns and manages more than 2,000 apartments. Two Trees has spacious apartments in Dumbo Brooklyn and stunning apartments in Brooklyn Heights. Oh, did I mention, Two Trees has Dumbo Brooklyn apartments to show off? Wanted to make sure…
The Walentas Family Foundation was established in 2013 and is a private foundation established to support arts, education, and community development. Since the grants were launched in 2013, the Walentas Foundation has awarded $1.25 million in Brooklyn. The charity will award $250,000 this summer to more schools in Brooklyn. One of last year’s recipients has already seen positive results with the Walentas Family Foundation grant funding with the LEGO Engineering and Robotics program. The school community really cherishes the opportunity, because kids who ordinarily do not experience a lot of academic success have been able to shine.
The foundation does not impose restrictions on the type of projects to be considered for funding, but is impressed with initiatives that draw on the creativity, vision and energy of the entire school community. This year’s application deadline was May 31, 2017. Grant recipients will be notified in July and grant funds will be distributed in August 2017 for the following school year.
Thank you, Walentas Family, for generously helping out the students of Brooklyn.