VCU news

By Tiff Murray-Robertson
L. Douglas Wilder School of Government and Public Affairs

“I have never told my children to choose a career path,” LeQuan Hylton, Ph.D., said, staring into one of what appeared to be several screens lining his office desk.

“My daughter wants to be a police officer, a witch, a teacher, and an architect and I tell her every day that she can be all four. I tell them, as my parents told me, ‘We live in an “and” world, not an “either/or” world.’”

Hylton, a proud husband and father of two, knows a thing or two about a career that defies conformity. He is an activist, a real-estate broker, developer and builder who has managed to be successful at nearly all of these pursuits simultaneously. He credits his success to the mindset of his parents telling him that he could be all that he wanted to be, similar to him telling his daughters that they can be all the things they want to be. Hylton is the third generation of his family in real estate development and construction. There was his grandfather, his dad, a few uncles, and two brothers before him. “It is in my DNA,” Hylton said with a laugh.  

A family affair

Hylton, 39, is the co-founder, president and principal broker of Hylton & Co., a family operation that offers high-quality affordable housing in the Richmond, Tidewater and Northern Virginia areas. Hylton, a Martinsville, Virginia, native, runs the company alongside his wife, Nelda, and mom, Sharon Hylton, the other co-founder.

In an industry seemingly focused on meeting the needs of those with high and middle incomes, Hylton & Co. has amassed a real estate portfolio of nearly 300 single-family homes, multifamily homes and commercial properties by focusing on those at the other end of the economic strata.

During the pandemic, Hylton & Co. doubled down on the commitment, converting new housing and newly rehabbed units for the homeless and those at-risk of homelessness through network partnerships with local agencies.

Hylton, who was recognized in 2017 with a VCU Alumni 10 Under 10 award, said he actually was rejected from undergraduate admission to Virginia State University.

“You may not realize this,” a 17-year-old Hylton said on a call to an admissions officer, “but I am exactly the type of student Virginia State was built to serve.”

Hylton graduated from VSU with a bachelor’s in business management, from Averett University with a master’s, and from the VCU L. Douglas Wilder School of Government and Public Affairs with a doctorate in public policy and administration.

Building opportunity for others

Hylton delights in rehabilitating formerly blighted properties and incorporating unexpected details in his rentals, such as walnut flooring and granite countertops. 

“We build and rehab houses in the same fashion that we would live in ourselves,” he said. “That’s what it’s all about. Our relationship with tenants is the same as our relationship with contractors and the same with investors. We’re all part of an ecosystem that requires that we invest our best.”

Hylton wants that sense of fair play and mutual enrichment to be at the core of every interaction undertaken by Hylton & Co. It’s why he strives for transparency in his communication with applicants who don’t qualify for tenancy and works to connect them with credible financial repair firms and a path toward tenancy in the future. He’s even rolling out a home assistance program this year for current residents. Hylton’s company launched a joint venture to offer grant money to first-time buyers for down payment assistance. 

Homeownership, financial literacy and access to capital, particularly within low-income and minority communities, are subjects about which Hylton is passionate.

He said those factors can act as “a fast pass” in realizing the potential of others like himself.

Through his service as a member of the Chesterfield County Planning Commission and the Diversity and Inclusion Committee of the Virginia Realtors Association, Hylton hopes he can be a beacon to others in the industry.

He sees his work on the planning commission as particularly important.

“In my two years on the commission, I have only seen a handful of proposals for affordable housing projects despite high demand. Before my tenure is up, I would like to see more real estate development in this area. While it’s the role of the government to stimulate affordable housing, I see the industry and the academy as the greatest catalysts for the change that is needed. That’s why programs like the Master’s in Urban and Regional Studies program at the Wilder School are so important.”

Like the properties he builds, Hylton sees affordable housing as a market rife with opportunities for those with the vision and drive to pursue them.

“There is both social and economic value in providing quality affordable housing to those who need it. That’s my ministry.”

A version of this story was previously published by the Wilder School.