10BB AN INDEPENDENT SUPPLEMENT BY MIA MEDIA & COMMUNICATIONS GROUP TO THE MIAMI HERALD FRIDAY , FEBRUARY 23 , 2018
Cover Story
By Isheka N . Harrison
The story of Dana Albert Dorsey , Miami ’ s first black millionaire , is a story residents of Miami say deserves to be told for genera�ons to come . O�en heralded for once owning Fisher Island , now one of the world ’ s wealthiest zip codes , Dorsey ’ s phenomenal life ’ s work con�nues to have an impact almost 80 years a�er his death .
Barron Channer and Kevin Smith , both young , black real estate entrepreneurs with roots in Miami , credit knowing Dorsey ’ s legacy with giving them hope for success .
“ His legacy inspires me by le�ng me know that it ’ s possible to not only be successful in real estate but to also give back to your community through real estate ,” said Smith , president of Miami Millennial Investment Firm whose goal is to counter gentrifica�on of black communi�es by offering affordable housing to Miami na�ves . “ If that ’ s something he could do then , there ’ s no excuse for me now to not thrive and be the best that I can be .”
Channer , founder of Woodwater Investments who has experienced much success in commercial real estate through mul�ple ventures , said , “ Hearing the story of D . A . Dorsey and coming to understand the �me in which he did it and what he was doing leads you to understand folks have had the same struggle and folks have surmounted those struggles in marvelous ways . There ’ s no reason why I couldn ’ t have a shot .”
A Man of the People To many locals , it is no secret that
Dorsey , affec�onately remembered as
Miami ’ s First Black Millionaire Continues to Inspire
Students at D . A . Dorsey Technical College in Miami admire his mural . It was painted by the United Way of Miami-Dade at the school ’ s Northwest 17th Avenue entrance in 2017 .
D . A . Dorsey , was an astute businessman who became wealthy through real estate , banking , and other financial endeavors . He used his fortune to make life be�er for Miami ’ s black popula�on . Born in 1872 to former slaves , Dorsey
Fisher Island
migrated from Quitman , Georgia to Miami in search of a be�er life . Though he only had a formal fourth-grade educa�on , he was self-taught and his brilliant business acumen began to show itself when he recognized the need to develop housing for black railroad workers .
Armed with income he gained by using his carpentry skills , Dorsey bought one parcel of land in Overtown , on which he built housing , rented it , and reinvested his earnings to repeat the process over and over again .
Eventually , he had amassed such a large por�olio of property that he sold land to the City of Miami during the period of segrega�on to be used as a park for black residents , donated large amounts of land for schools for black
students , and built a library that black Miamians could call their own . He was also the first black owner of a hotel in Miami , Dorsey Hotel , and owner of the Negro Savings Bank .
According to the ar�cle , “ D . A . Dorsey Returns to Fisher Island ,” wri�en by Black Archives of South Florida founder Dr . Dorothy Jenkins Fields , the Miami Daily Metropolis reported in 1918 that Dorsey had purchased Fisher Island “ to form a company for the development of the tract as a high-class colored resort and subdivision with a hotel , co�ages for well-to-do men of his own race and boats to convey them back and forth between the mainland and the island so there will be no conflict of the races in the project .”
Eventually , Dorsey sold the island to Carl Fisher who was developing Miami Beach , but he con�nued using his business endeavors to fund his philanthropic efforts to improve life for black people throughout the course of his life .
Inspiring Current Genera�ons
Though he died in 1940 , today there is a street , park , schools and a Tunnel Boring Machine named a�er Dorsey . His original home in Overtown and Dorsey Library have been designated historic landmarks with restora�ve plans .
“ He ’ s an inspira�on because with him being a pioneer , it shows us where we can go ,” said Smith , who also owns Smith Capital Investments . “ It was definitely an accomplishment for him to do what he did back in his era .”
Channer , who is heavily invested in sharing his knowledge of real estate and finance to increase the amount of black professionals successfully working at high levels in the industry , added : “ The thought that someone like me – an immigrant and Miami-Dade public school kid – could come back to Miami to play at a very significant level in real estate requires a certain level of belief above and beyond what you see on a day-to-day basis .”
Both men said it is cri�cal that Dorsey ’ s legacy be kept alive .
“ It ’ s vitally important that we as a community keep our heroes and our legends alive because if we don ’ t do it no one else will and they ’ re just going to fade with �me ,” Smith said . “ My children know about D . A . Dorsey .”
Channer con�nued : “ If you ’ re looking at D . A . Dorsey ’ s legacy , one key thing for anyone to take away from it , whether you ’ re a professional in real estate or your profession is otherwise , anyone can start anywhere and you can make money in your neighborhood as well . It ’ s not all about the big stuff . D . A . Dorsey started with one lot . He was a carpenter and he saw an opportunity , with some extra dollars that he amassed , to fill a need by building one home . Anyone can do that .”