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Inside Carter | Natashua Murphy

Wed, 22 May 2013 21:25:00 GMT

Every other week we'll profile a different member of the Carter team, giving you a little glimpse inside the personalities that make our company so robust and unique. This week we are getting to know: Natashua Murphy, senior marketing executive assistant, who works with Carter’s investment team. If you missed our last Inside Carter post, click here.

1. How did you end up in commercial real estate?
After I graduated college and was still working retail, I got my first administrative job in 2001 assisting a corporate general counsel with his duties, which included real estate. I was hooked on real estate and never looked back.

2. What's one thing that people would be surprised to learn about you?
I am an action movie junkie! I love just about any movie where things blow up – I love all the Iron Man and Expendable movies as well as Platoon, Top Gun, Rambo, etc. I also very much dislike romantic/girly movies!

3. Best part of your job here at Carter?
I would have to say the people. I have never worked in such a friendly and professional environment. I know it is a little brown nosing, but I love my bosses! We just all fit together as a team.

4. Who has been the most influential person in your career?
My director of administration in my first admin job, Eda Cort. She took a risk on me (having never worked in an office before), saw my potential and taught me just about all she knew about administration. She is the one that also pushed me to move on even though it would be a detriment for her department as I was cross-trained in every administrative position in the company.

5. Where in the world are you headed on your next vacation?
Nothing has been finalized due to my husband’s school schedule, but at some point this August I will be in the sand and waves somewhere – preferably the Keys!

6. What did you want to grow up to be?
A writer/reporter. I went to school for journalism and loved it up until I did a junior internship at the local newspaper. After the first day I knew it was not for me! I did not like the hours, the pay or the environment, plus I am way too shy to interview strangers. I got a taste of the “starving writer” and that was it!

7. If you could have lunch with a famous person – dead or alive – who would it be and why?
Probably Abraham Lincoln. After my failed journalism attempt, I became a history and english major since I love to read. My history concentration was in the Civil War. That time is history truly intrigues me and I would want to get a first-hand account of that time. Lincoln seemed to be wise beyond his time.

8. Are you a social media user? Which platforms?
Yes, just Facebook and LinkedIn occasionally. It is a great way to keep up with people from back home and family around the U.S., as well as past co-workers. I have a 3-year-old at home, so I do not get time for much else!

9. What's on your bucket list that you'd like to share?
I would like to travel around the U.S. at some point and immerse myself in American War history, including visiting the Alamo, Philadelphia, Pearl Harbor, Charleston, S.C., etc.

10. Favorite thing about Atlanta?
Besides the Aquarium and the history, I love that it is a major city with lots of opportunities. I also like that just a few miles outside the perimeter, it is like the countryside I grew up in in North Carolina.

Valencia Construction Update

Wed, 22 May 2013 15:07:00 GMT

Fourth building underway at Carter's condominium property in Florida
Earlier this year, Carter announced that construction would begin on the fourth building at Valencia, an upscale condominium development community located in Jacksonville Beach, Fla. Carter’s Todd Bradford visits the property regularly and works closely with the construction group at Valencia. During a recent trip, he filmed an update on the construction of the 42-unit building.

To learn more about Valencia and Carter's restoration of the previously distressed property, read our previous blog post.

Welcome Brad Alexander

Mon, 20 May 2013 18:44:00 GMT

Guest Blogger Shares Thoughts on Legislative Session

This week, Carter invited Brad Alexander, senior vice president of McGuireWoods Consulting, to weigh in on the 2013 Georgia Legislative session. Brad leads the state government relations team and works with Carter as an advisor and consultant in the public sector industry.

In a somewhat unusual turn from what you usually read, the recently concluded 2013 session of the Georgia Legislature was mostly about quietly getting a few key things done, several of which directly impact the real estate and development community.

First, Gov. Deal and the Georgia World Congress Center’s leadership adroitly managed the components of a deal to construct a new stadium – and hopefully revitalize part of Atlanta’s urban core – for the Atlanta Falcons through the political process in close cooperation with Atlanta Mayor Kasim Reed. The ability to navigate this path so smoothly is another hallmark of the value of historic levels of bipartisan cooperation between the City of Atlanta and the State of Georgia.

In another key achievement, the governor and legislature worked together closely to create a Medicaid funding mechanism that quietly averted crisis-level funding shortfalls at several Georgia hospitals. While this deal did not make front pages across Georgia, the compromise was a critical one for our state, and helped keep the healthcare sector viable.

While this session was a quiet and fast one, we can expect more fireworks next year as Georgia heads into an election year when every statewide office is on the ballot, and a U.S. Senate seat and several congressional seats feature open elections.

Next year will also set the stage for the next round of debate over how our state – and the Atlanta region in particular – will address the mounting backlog of transportation improvements we face. While this problem will likely not be addressed comprehensively before 2015, next year’s political debate will play a major role in determining what is and is not achievable.

Finally, Sen. Hunter Hill – a Carter alum – has introduced new model legislation in Georgia to allow our state to more actively utilize public-private partnerships to deliver buildings and other infrastructure. That legislation will be considered by a study committee over the summer, and hopefully be passed in final form next year.

McGuireWoods Consulting is a full-service public affairs firm offering infrastructure and economic development, strategic communications, and grassroots and government relations services. For more information, check out their website at www.mwcllc.com. A special thanks goes out to Brad from the Carter team.

Patti Neal Wins BD+C Award

Wed, 15 May 2013 20:57:00 GMT

Carter’s Patti Neal Named one of Building Design + Construction’s “40 under 40”

Patti Neal, Carter’s senior vice president of development, was recently named to Building Design + Construction’s (BD+C) “40 under 40” class of 2013. BD+C deemed Patti a “real estate standout" and an “AEC superstar” for her career achievements, service to her profession and charitable work.

“Being selected among such a great group of people is an honor, especially when it reflects performance for something that you love to do,” Patti said. “Working at Carter has given me the opportunity to be a part of many great, challenging projects that force you to be creative and find better ways of doing things. I am thankful for all of the people I’ve been able to work with over the years that have helped me achieve success.”

During her 13 years at Carter, Patti has delivered $1 billion in development projects ranging from office and medical space, to mixed-use and residential. She is an expert in budget development and management, contract negotiations, scheduling, designer and contactor relations and management of construction delivery.

“Patti is a phenomenal associate who has approached all of her work at Carter with diligence and enthusiasm for decades,” said Bob Peterson, Chairman and CEO of Carter. “She has risen from a project engineer to senior vice president in a mere 13 years, has raised three great children and completed the Ironman in 2012. She is truly a wonderful role model.”

Some of Patti’s biggest projects include The Banks in Cincinnati, Ohio; Highpoint on Columbus Commons in Columbus, Ohio; and Piedmont West in Atlanta. Click here to watch a construction video update Patti shot earlier this year on-site up in downtown Columbus. And click here to check out recent coverage of the award.

Spelman Hall Achieves LEED Gold

Tue, 14 May 2013 18:25:00 GMT

Carter’s project acknowledged by U.S. Green Building Council

The U.S. Green Building Council just awarded LEED™ Gold certification to historic Laura Spelman Rockefeller Hall, the renovation of which Carter oversaw. Spelman College recently held a reception to celebrate the designation at Laura Spelman Rockefeller Hall, in the terrace garden adjacent to the building. David Freedman, from the Georgia chapter of U.S. Green Building Council, presented the LEED Gold plaque to Beverly Daniel Tatum, Ph.D., president of Spelman College.

Laura Spelman Rockefeller Hall was completely gutted and renovated. The 20,000-square-foot building was converted to a mixed-use residence hall containing study space, technology space, Social Justice Program offices and a 40-bed student housing facility. Carter led the team in initiating the change of this historical structure on Spelman’s campus into a renewed, sustainable building while maintaining the building’s historical integrity and originality.

The College’s Director of Facilities Management & Services, Art Frazier, recognized the work of the project team, including the architects, Menefee Architecture; the general contractor, Winter Construction; the project manager, Carter; his own staff and students that were involved with campus sustainability initiatives.

There were representatives from the Environmental Protection Agency, City of Atlanta, and other faculty, staff and friends of the College. Tom Lawrence, vice president of Carter, attended on behalf of the company.

To read a previous blog post about the project, click here.

Multi-Family Marketing - Part II

Sat, 11 May 2013 04:00:00 GMT

Guest Blogger Kristi Fickert Joins Us Again

Last week, we welcomed Kristi Fickert, senior regional sales and marketing director of Village Green, as our first guest blogger. This week, she shares her insight into leasing new luxury apartment products such as Carter’s Current at The Banks and Highpoint on Columbus Commons:

Current at The Banks in Cincinnati, Ohio, which includes 300 units, was one of the most successful lease-up projects in the nation, reaching stabilized occupancy just four months after first units were delivered. This success wasn’t achieved through traditional advertising campaigns.

Instead, most scheduled advertising campaigns were cancelled and our sales team focused on corporate outreach, including meeting with local companies and organizations, building relationships with key personnel and reaching out to the referrals. Our efforts generated enough traffic to help make The Banks project one of the fastest lease-up projects we’ve ever been involved in. The community still averages 100 percent occupancy nearly two years later.

As we gear up for our next new construction apartment project in Columbus, Ohio - Highpoint on Columbus Commons - our marketing team continues to focus on creating value for the customer. Like other luxury brands, such as Nordstrom and Ritz-Carlton, we have to offer more than just “the product” to our customer. It’s showing customers they are not just renting an apartment, but rather a lifestyle that includes additional services, amenities and benefits not found in other communities. For example, we offer full-time concierge services, discounts at major retailers, online rent-payment options, job transfer options, roommate rewards and of course, first-class customer service.

The best way we can market our upscale, urban communities is to take better care of the customer than the competition. The more touch points we create for our customers, the more likely they are to connect with us. These are the things that market our apartments. Written thank-you notes are still a must and without well-placed signage nobody would be able to find us; however, when we do the “little things” right, they can make a big impact on the bottom line. This is where the true value is created, and it’s how we create a lifestyle that people truly want to rent in today's market – at an average of $1,700/month.

To read Part I of Kristi’s blog and learn more about her experience and background, click here.

Carter's CRE Reads - May 9

Thu, 09 May 2013 17:46:00 GMT

Every other week, we’ll use the CRE Reads vehicle to present a compilation of noteworthy commercial real estate stories from a variety of publications. Below are recent stories that caught our attention:

Multifamily Industry Unveils New Integrated Awareness Campaign Titled “Apartments. We Live Here."
By Multifamily Biz

Malls, Self-Storage Led REITS
By A.D. Pruitt of The Wall Street Journal

Student Housing: Best Deals are Off-Market Deals
By Amy Wolff Sorter of Globe St.

Two of the Top Ten Issues Affecting Commercial Real Estate
By David J. Lynn of National Real Estate Investor

Amenities for the New Millenials
By Jill Lung for Student Housing Business

Inside Carter | Meet Chelsea Holmes

Wed, 08 May 2013 20:20:00 GMT

Every other week we'll profile a different member of the Carter team, giving you a little glimpse inside the personalities that make our company so robust and unique. This week we are getting to know: Chelsea Holmes, marketing coordinator. If you missed our last Inside Carter post, click here.

1. How did you end up in commercial real estate?
Fate! And a marketing coordinator job posting on LinkedIn.

2. What's one thing that people would be surprised to learn about you?
I am the oldest of four, with three younger brothers. There’s only six years between myself and my youngest brother. I don’t know how my mom handled us!

3. Best part of your job here at Carter?
I haven’t been here very long, but there’s a great atmosphere here. Everyone is friendly and passionate about the company and the work they do for Carter.

4. Who has been the most influential person in your career?
My dad. He’s worked for companies like IBM, Home Depot and PWC over the years, and he’s always pushing to me to work harder and set high goals for myself and my career. He also taught me to never stop learning.

5. Where in the world are you headed on your next vacation?
My boyfriend and I recently got back from a whirlwind 4-day vacation in Puerto Rico. Next up – Hawaii or St. Thomas!

6. What did you want to grow up to be?
An artist. I quickly realized I lacked any talent with a paintbrush, however.

7. If you could have lunch with a famous person – dead or alive – who would it be and why?
Andy Goldsworthy – the first “favorite artist” I had as a child.

8. Are you a social media user? Which platforms?
As a marketing professional, I have to be! I’m constantly monitoring all types of platforms – Facebook, Twitter, Instagram, Vine, LinkedIn, FourSquare… you name it, I’m there.

9. What's on your bucket list that you'd like to share?
I actually don’t have a bucket list. I live life day-by-day and do my best to enjoy the little things.

10. Favorite thing about Atlanta?
The restaurants! Our current favorites are Bocado and Holeman+Finch – my friends and I are there at least once a week. Next on our list is The Optimist.

Highland Square Profiled

Tue, 07 May 2013 15:45:00 GMT

Student Housing Business interviews Carter’s Kyle Brock about Highland Square

Carter’s Highland Square project, located near Ole Miss in Oxford, Miss., is a revolutionary student housing product in the marketplace. The $39 million project, which Carter is developing with Chance Partners, will include 753-beds in cottage-style housing and a town square with approximately 15,000 square feet of retail space.

Kyle Brock, senior vice president of development at Carter, recently told Student Housing Business magazine, "This was a very large site, and that presented us with the opportunity to build something different than what's currently in Oxford. We started building cottages, but we also wanted to give our project more of an urban feel. We think one of the best amenities in Oxford is the town square itself."

Additionally, the community will feature a coffee shop, tanning facilities, study/printing lounge, media/theater center, car wash, dog park, volleyball, fitness trails and three resort-style pools. Rents will range from approximately $550-$620 per bed per month.

According to Brock, the property is now 95 percent pre-leased up from 70 percent leased at the time of the article. Pictured above, Highland Square’s leasing office features a signature wall of its leasing success. To view a video on the construction progress of the project, read our previous blog post here.

Demand High for Highpoint

Wed, 01 May 2013 19:40:00 GMT

Multi-family project receives unexpected, but welcome, attention

Since construction started for Highpoint on Columbus Commons, nearly 200 inquiries are coming in each month. The project will include 301 apartment units, including studio, one-bedroom and two-bedroom options, atop 23,000 square feet of retail space.

Kristi Fickert, senior marketing director at Village Green, which is leasing the project, told Columbus Underground that the interest has been reminiscent of what they saw when leasing The Banks. “Absolutely a similar response… we were just amazed at the response to the Banks,” said Fickert, noting that it was completely leased in four months, while most projects they work on take a year or more to lease.

The first units are scheduled for completion by the end of October, with the goal of wrapping the entire project by early 2014.

To read Part I of Kristi’s guest blog about multi-family marketing, click here.

Multi-Family Marketing - Part I

Wed, 01 May 2013 04:00:00 GMT

Carter Welcomes Kristi Fickert to Our New Guest Blog Column

What I love most about marketing and the multi-family/property management industry is that it’s always changing. Today’s customers are as savvy as ever; some in the multi-family industry see this as an obstacle to overcome, but I see it as an opportunity.

Now more than ever, the more information we can provide future renters, the better. It’s called “infolust” – the idea that consumers have become addicted to information and knowledge – and if we don't acknowledge this in our marketing efforts, the customer will move on. They desire as much relevant information about the things they’re interested in, and they want the information NOW.

We’ve never before had the ability or tools to connect with our customers in so many ways. We can chat online via our websites, share photos and events to our network of fans on Facebook, build relationships through Twitter and even allow our prospective renters to check real-time availability and rent an apartment online. If you can capitalize on these resources, the rentals are in your favor.

Village Green’s leasing offices were one of the first to utilize iPads and handheld video cameras to create a more interactive rental experience for the customer. This increased interaction allows our team to build genuine relationships with our clients – which directly impacts rents and occupancies.

Instead of reacting to the ebb and flow of today’s markets, we’re capitalizing on it and it’s working. At Village Green, we’ve turned traditional marketing ideologies upside down and, in addition to the above trends, have instead focused our energies on a hospitality-centered approach to apartment marketing.

Long gone are the days of spending tens of thousands of dollars on print advertising (that a consumer may or may not read). The relationships we build along the way, with businesses, customers, community leaders and investors, are what truly sustain our business. We have shifted our focus from paid, third party advertising (via both print and internet), to creating brand awareness simply by being social and making it easy for our customers, and others in our target market, to connect with us. Our people are our best marketers.

This approach to marketing is reducing our cost per rental significantly and our customers are happier; in fact, Village Green was ranked No. 1 in customer service by CEL & Associates for the fourth year in a row. Yes, we still need branded collateral packages and a pretty website. But by focusing on relationships and adding value to our communities through additional services, amenities and benefits, the need for “traditional” advertising has fallen by the wayside.

For the past 11 years, Kristi has served as the Senior Regional Sales and Marketing Director for Village Green, where she oversees the sales, marketing, training, recruitment and corporate and community relations for 28 apartment communities in multiple states across the U.S. Kristi is Village Green’s “people person” – she loves spending time getting to know residents, business partners and owners. More often than not, you can find her “out and about” in the community – attending Chamber of Commerce functions, socializing at networking events or hosting corporate presentations for various organizations around the city.

Village Green is one of the nation’s largest privately held leasing and property managers of luxury apartment communities and currently manages leasing for more than 40,000 multi-family units across the U.S. They were recently ranked 28th on National Multi-Housing Council’s “2013 Top 50 Apartment Management Companies”. Village Green is currently working as property managers for two of Carter’s project in Ohio: Current at The Banks and Highpoint on Columbus Commons.

Check back next week for Part II of Kristi's guest blog post!

President on Atlanta Bisnow Panel

Fri, 26 Apr 2013 04:00:00 GMT

Scott Taylor Announces Decatur Project at Bisnow's Annual State of the Market

While speaking on a panel at Bisnow’s State of the Market on Wednesday, Carter President Scott Taylor announced that the company will develop 315 West Ponce, a $40 million, mixed-use development in Decatur, Ga. The project will include 233 apartment units and approximately 10,000 square feet of street-level retail space.

“Announcing this local, urban and mixed-use development at the Bisnow State of the Market event in front of a crowd of hundreds of Atlanta's top CRE professionals was opportune," said Taylor, who was one of four panelists selected to discuss the state of the commercial real estate market in Atlanta. Wes Hudson, managing partner of CohnReznick, moderated the panel, which also included Larry Gellerstedt, president and CEO of Cousins Properties; Mark Toro, partner of North American Properties; and John Beam, managing director of Centerline Capital Group.

The panelists touted the importance of walkability in new upcoming developments. Carter calculated 315 West Ponce’s walk score at 85, which is considered very high. Additionally, the project's Street Smart Walk Score, which factors in walking routes and distance to specific amenities, is a 91. Check out this website for more info.

The project will be located two blocks from the Decatur Square, a hot spot for dining, bars and entertainment. According to the Atlanta Journal-Constitution, the development will also include a structured parking deck to be shared between the new retail and residential buildings.

Conor McNally, chief development officer at Carter, told Globe St. that the company is pleased to be developing a new mixed-use building in their backyard. “While Decatur has experienced significant population and retail growth during the last 10 years, no new apartment projects have been delivered since 2001, which makes the timing for this project ideal,” McNally added.

Taylor and fellow panelists also addressed topics such as the multifamily and office markets in Atlanta. Taylor commented on the change in the way office tenants use space, adding that the next generation of office buildings will be smaller, with nearly 30 percent less space.

For more information on 315 West Ponce, read our previous blog post.

Carter's CRE Reads - April 25

Thu, 25 Apr 2013 18:38:00 GMT

How the Decline of the Traditional Workplace Is Changing Our Cities
By Emily Badger of The Atlantic Cities

Congress Looks at REIT Tax Exemption
By A.D. Pruitt of The Wall Street Journal

High Net Worth Investors Returning to the CRE Arena?
By Mark Heschmeyer of CoStar Group

Housing Starts Rise on Strength in Multifamily in March
By Building Online

US Student Housing REITs Dominate through Growth and Acquisition
By Student Housing Planet

Inside Carter | Meet Tina Hawkins

Wed, 24 Apr 2013 21:12:00 GMT

Every other week we'll profile a different member of the Carter team, giving you a little glimpse inside the personalities that make our company so robust and unique. This week we are getting to know: Tina Hawkins, who is a human resources assistant. If you missed our last Inside Carter post, click here.

1. How did you end up in commercial real estate?
I was offered a full-time position through a temporary staffing agency. The position was Switchboard Operator.

2. What's one thing that people would be surprised to learn about you?
I’m in my 30s and I still call my mother when I don’t feel well.

3. Best part of your job here at Carter?
There is room for professional growth in a beautiful environment with great hours and cool co-workers.

4. Who has been the most influential person in your career?
Many people have influenced me throughout my life, but I wouldn't have become the person I am today without my mother, who is a great friend and mentor.

5. Where in the world are you headed on your next vacation?
Jamaica

6. What did you want to grow up to be?
A beautician.

7. If you could have lunch with a famous person – dead or alive – who would it be and why?
Martin Luther King, Jr. I would ask him how it feels to have written the “I Have A Dream” speech and watch his dream be accepted and come to light around the world.

8. Are you a social media user? Which platforms?
I’m not really a user but I do have a dependent that I monitor — Instagram.

9. What's on your bucket list that you'd like to share?
I don’t have one of those. I live life and enjoy it to the fullest.

10. Favorite thing about Atlanta?
The diversity — there is something for everyone.

Highpoint Leasing Office Opens

Tue, 23 Apr 2013 18:56:00 GMT

Highpoint on Columbus Commons Now Accepting Reservations

The leasing office has opened at Highpoint on Columbus Commons, Carter’s $50 million apartment complex in Columbus, Ohio. The property will feature 301 apartment units atop 23,000 square feet of retail space.

Highpoint on Columbus Commons will include studio, one-bedroom and two-bedroom units, starting at approximately $850 per month, according to an article by Columbus Underground. Amenities will include an on-site concierge, resident clubroom, 24-hour athletic facility, pool and outdoor kitchen/BBQ area, complimentary Wi-Fi in common/amenity areas and underground parking.

Laura Swadel, vice president of Carter, told Columbus Business First that Carter already has seen pent-up demand, with nearly 200 prospective tenants per month seeking information since construction began and since the website went live. Additionally, more than 350 inquiries were made prior to applications being formally accepted. Renters have shown great excitement about the view overlooking Columbus Commons, with more than 80 percent of pre-leased renters choosing a unit with a balcony overlooking the park.

Highpoint on Columbus Commons is an official park partner and sponsor of the Downtown Live Concert Series, a free summer concert series held at the Columbus Bicentennial Pavilion at Columbus Commons.

For more information, check out the updated Highpoint on Columbus Commons website at www.highpointcolumbus.com. The project also recently launched a Twitter handle: @HIPColumbus. Be sure to visit the Carter Blog next week for a two-part series from guest blogger, Kristi Fickert, senior regional sales and marketing director for Village Green, the property-management firm that is handling leasing and marketing for two of Carter’s multi-family projects: Highpoint on Columbus Commons and Current at The Banks.