It has been a while since we posted about our employees’ favorite projects – the buildings and developments that they have enjoyed working on or for most during their time with us. We’re very excited to jump back into our “The Favorites” series with this post! In Part VI we’re sharing thoughts from a variety of Holladay divisions, including development, architecture and design, and property management. So read on to find out which projects they love best!
Home 2 Suites – Indianapolis, Indiana
Nicki Armitage – Assistant Project Coordinator; Joined Holladay Construction Group in 2017
I love the Home 2 Suites project at Ameriplex Indy! I get to drive by it on my way to and from work all week. It’s amazing how much it changes even day to day! It’s been my favorite because I have gotten to see it progress from day one. It’s this physical structure that I contribute to in some small way every day and it’s wonderful to see that manifest itself in front of me.
Lucerne Medical Plaza Parking Garage – Orlando, Florida
Ken Whitaker – Senior Vice President of Healthcare, Capital Management; Joined Holladay in 2004
We are a couple weeks away from completing the replacement of a 340-space parking garage in Orlando, FL. The total project cost is approximately $12.5 million and we have been working on it for 2 years. They are currently pouring the ramp to the lower level of garage and applying the waterproof traffic material on the upper level!
Batesville Casket – Indianapolis, Indiana
Kyle McFarland – Commercial Property Manager; Joined Holladay in 2015
Property Management and Development will have an executed lease renewal agreement with Batesville Casket this week for the Midway building. Batesville is renewing their lease for another 5 years and will under go $250,000 in tenant improvement’s over the next 4 months!
TRU by Hilton – Baltimore, Maryland
Austin Haynes – Senior Vice President of Development; Joined Holladay in 2012
We are very excited in the Richmond office to be working on the new TRU by Hilton in Baltimore’s Harbor Point area. This is TRU’s first urban location and a new market for us. This will be an eight story 140 room hotel geared towards the millennial business and tourist traveler. We are hoping to begin construction in October with a December 2019 opening!
Portage Place – South Bend, Indiana
John Phair – President and Chief Executive Officer; Joined Holladay (when it was a part of the Holladay Corporation) in 1978
My favorite is still my first development with Holladay Corporation.
About 2 ½ months before joining Wally Holladay officially, I accepted a position with his firm. My wife had a baby on the way and I could not afford to change jobs until the baby came – I needed health insurance!
But I started to work evenings with a local designer on a 96 unit apartment addition to a 408 unit project known as Portage Place located at Portage Rd & the Toll Road in South Bend. Wally owned the complex. The one thing I knew how to do was ‘finance’ it. I worked on that and got a commitment.
The local designer and I worked for about two months nightly (he also had a day job). We ended up with a plan for 6 buildings, 96 one & two bedroom apartments. And 150 parking spaces. Not having ever designed anything, I thought these were the most beautiful apartments ever created-on paper! I had to pay a local retired architect to ‘sign’ the plans and then applied for a building permit-also a first for me.
Then my wife had our 2nd child.
I also signed the loan commitment for the bank that day.
The next day I resigned my bankers job and went to work for The Holladay Corporation and took over their Midwest office-of which I was the only employee! And I then signed that loan commitment, now representing the developer!
Shortly thereafter, I started visiting every apartment and residential site in the area looking for ‘bidders and subcontractors”. I ended up hiring a local General Contractor to provide a superintendent (who I eventually hired directly) and got their local support.
A few weeks later we had our bids, started the construction and 8 months later opened the units and were 95% occupied 4 months later. I made my last construction draw to the bank. And I did not have any bills to pay and still had over $75,000 left from the construction loan (no equity required!). I proudly traipsed off to Washington DC and handed that check to Wally along with a 95% occupied apartment complex and my accounting records. They consisted of 9 check books-each a different color-but, somehow, I could account for every penny. It was a little easier than a YARDI system!
We sold that project about 10 years later but I still check it out every time I drive by. And I wish we still owned it!