Ron Ratner, president and CEO of Forest City Residential, was named our Executive of the Year in the 2006 Multifamily Executive awards contest. Plus, more than two dozen multifamily firms also were honored last week at the Multifamily Executive Conference in Las Vegas for their architecturally distinctive communities, innovative reuse projects, marketing and advertising efforts, and their community service programs.
A very wise friend once told me that he often struggles with the decision to spend millions to proceed with developing a new apartment community. He says he has to convince himself that he is a genius for finding an opportunity that others did not take see. The fact of the matter is that it is often years before he knows whether he was the genius he thought he was or a fool for thinking he was smarter than everyone else was. He knows that he would never develop another community unless he is optimistic about the future. I share his optimism. We?re at the forefront of a decade-long boom in the apartment business. Here are the three reasons why you should share our optimism as well.
In his best-selling book, The Seven Habits of Highly Effective People, author Stephen Covey offers a handful of principles for life and work. "Be proactive," he recommends. "Begin with the end in mind." There are five more habits, of course, but just those first two seem strangely familiar after spending time with another business leader named Steven: Steven LeBlanc, president and CEO of Charlotte, N.C.-based Summit Properties. Talk to LeBlanc and those who know him, and these themes emerge again and again in his career and corporate decisions.