Experts Online: It's In The Mix: Keeping Your Development Projects Alive During Changing Times

Date Published: 07/29/2008

Author: LISC Commercial Markets Advisory Service

Archived LISC Commercial Markets Advisory Service Webcast from June 23, 2008

Event Description

As the credit crunch tightens lending to home buyers and local governments rezone corridors to "New Urbanism" standards, developers must adapt to keep their projects alive. Ohio-based developers Frank Petruziello and Adam Troy shared their experiences keeping projects alive through creative site planning and flexibility. These on-the-ground experts walk you through three of their recent projects where creative solutions were required to ensure that the projects remained on track despite market transitions

Presenters:

Frank R. Petruziello-Principal, Skilken, Columbus, OH
Frank Petruziello is a registered architect, and a principal with Skilken; a Columbus based commercial real estate developer. He also serves as a managing partner for Mahogany Ventures and M Retail Ventures, partnerships between Skilken and Troy Enterprises formed to develop properties and provide consulting expertise for mixed-use projects in underserved urban markets.

Working with both national and local clients, and having completed projects valued in the hundreds of millions of dollars, Frank brings an in-depth understanding of the development process, as well as client and community needs, to commercial and mixed-use projects. His creativity and vision, combined with expertise in zoning, government relations, public incentives negotiations, and public/private partnerships, enables him to play a pivotal role in the creation of strategic plans for future growth.

Frank holds a Master of Architecture degree from The Ohio State University where he also served as an assistant professor of architecture.

Projects currently in development include The Shops & Lofts at 47, a $73 million mixed use project in Chicago, IL; Alton Commons, a $40 million shopping and community sports complex in Hilliard, OH; and Kyber Run Center, a $15 million Kroger anchored shopping center in Johnstown, OH.

Adam Troy-President and CEO, Troy Enterprises, Columbus, OH
To the arena of Urban Development, Adam K. Troy, brings his expertise with profitable real estate projects involving multiple partnerships among corporations, government,faith-based entities and community groups. He also serves as a managing partner for Mahogany Ventures and M Retail Ventures, partnerships between Skilken and Troy Enterprises formed to develop properties and provide consulting expertise for mixed-use projects in underserved urban markets. In 1994, Adam along with business partner Keith Key, founded Omni Management Group – a real estate development company specializing in office development and multi-family housing. As Managing Partner of Omni Development and now as President & CEO of TROY Enterprises, his experience in banking, corporate/government relations, and focus on community development has positioned him as one of our nation’s emerging leaders in the field of business and real estate development His vast network of contacts and results oriented approach to profitably orchestrate unseemingly related parts have earned him the moniker of "maestro" in many circles.

Highlighted Projects:

  • Small-scale Development - A national drug store chain replaced an older grocery store on a traditional commercial corridor. The developers moved to add housing on the second floor and worked with local officials to change zoning laws to accommodate the project.
  • Medium-scale Development - The developers worked in partnership as Mahogany Ventures to bring a mixed use development to a Chicago neighborhood. However, as the market for condominiums has dried up, they have had to revisit mix of uses on the site to keep the project alive.
  • Large-scale Development - Learn how the developers turned an aging suburban format grocery store into a more 'urban-style' grocery store through creative site planning.

Archive:

This session was conducted using Microsoft's Live Meeting and is available as streaming video/audio on Microsoft Live Meeting's website here.*
* PLEASE NOTE: The first 6 minutes and 48 seconds of the streaming Live Meeting video/audio can be skipped, as there were technical difficulties. To download the video/audio presentation with this time edited out, please use the download link below.

Downloads:

> Presentation Packet (PDF, 16.3 MB)
> Presentation Multimedia (ZIP, 12.2 MB)

About CMAS

Our Mission:
The mission of the Commercial Markets Advisory Service is to support LISC’s network of local offices and community-based organizations in the creation and implementation of market-based comprehensive commercial revitalization strategies.

About CMAS:
Commercial Markets Advisory Service, LISC's economic development strategic business unit, supports local LISC offices and community-based organizations in the creation and implementation of market-based, urban business district revitalization strategies.

Staff members of CMAS, alongside specialists from LISC MetroEdge and a host of pre-qualified consultants, work to fulfill the needs of local LISC offices and the CDCs they support. They provide training, technical assistance, and additional resources for commercial revitalization and economic development initiatives. The areas of expertise include strategic planning, market analysis & implementation, supermarket attraction, real estate development, reclamation of vacant properties and arts & culture. The group also manages LISC's commercial corridor revitalization network, identifies potential financial resources, and cultivates working relationships with other national, regional and local support and resource organizations.
Major Support Provided By State Farm

Topic: --Commercial Revitalization

Type: Live Webcast - Experts Online