8 March, 2021 0 Comments

Smart Capital + Vision= Transformation

March 8, 2021 By Leave a Comment

Boynton Beach’s new city hall anchors an ambitious vision that includes culture and business.

Have you seen the blizzard of news coming out of Miami?
It seems like every day there’s a major announcement; one headline more exciting than the other.

–“SoftBank makes $100mm bet on Miami as next US tech hub”—Financial Times

–“Why Miami is the next hot tech hub”—Crunchbase

–“Miami is becoming a magnet for companies trying to escape high taxes”—CNBC

And the list of interesting news goes on and on.

But the headline that intrigued me the most came from the real estate site Bisnow: “Miami Billionaire Launching Downtown Innovation Hub.”

The story details how Moishe Mana has broken ground on a downtown building that he intends to make the center of a burgeoning tech and startup community.

The 13-story “Nikola Tesla Innovation Center” will have 136,000 SF of space, mostly for offices with 2% reserved for retail. It is expected to be completed at the end of this year, with occupancy to begin in Q1 of 2022.

Mana and his team assembled about 60 properties downtown; which is an impressive feat. But he has also laid out an audacious goal: make the area the “economic engine of Miami.”

While the real estate “placemaking” is an interesting part of the equation it’s only one part of the vision. Mana is also doing what he can to assemble talent and connect key players who can make the dream come true.

In January, Mana announced a partnership with California based Plug N Play, a “global innovation platform” that works to build relationships between startups and large corporations.

Also at the table is city and county government and that’s important and essential.

Miami Mayor Francis Suarez is getting a lot of buzz these days for using his Twitter account to talk with tech titans and sell them on the virtues of Miami. Mayor-Dade County Mayor Daniella Levine Cava, was my Leadership Florida classmate, and I can say with certainty that nobody will work harder to make things happen. Daniella is the real deal.

So yes, the stars are aligning in Miami.

While vision is also important and essential so is the ability to execute.

I researched Mr. Mana’s career and learned that he has done something similar before; he played a key role in transforming Manhattan’s Meatpacking District from a derelict section of the city into a trendy area driven by art and culture.

Mr. Mana’s strategy for Miami also includes art and culture. The concept is being called “Mana Common.”

On a recent webinar discussing the projects Mana had this to say.

“I totally understood we needed to do something exceptional,” Mana said. “The problem is, every time there is a neighborhood built, then come the real estate funds that basically destroy the whole ecosystem. So I said, ‘We’re going to buy a big critical mass of real estate and we’re going to build a sustainable community where we do not need to trade with the real estate.’ This is a home for the brain. This is a home for creation. This is a home for changing a city.”

The operative word in that thought is exceptional—the desire to do something special and transformational.

Closer to home, I recently took a tour of Boynton Beach’s new City Hall complex, innovation center, library, children’s museum and amphitheater. If you haven’t seen this project yet, it’s well worth the drive.

The vision shown by this public private partnership is inspiring and the potential is enormous.

The City Hall— which includes ample community space— is beautiful with natural light and cozy meeting rooms available to the public.

The plan is to add a café and build out a space that will be used to grow local companies.

Post-Covid there will opportunities for art, music and events in a beautiful open space anchored by the amphitheater.

As I took the tour, I thought to myself “hey, Boynton Beach has got it going on.” I think it’s the nicest City Hall I’ve seen.

I admire cities and entrepreneurs who aspire.

Smart capital + Vision= transformation.

It’s not a sure thing. But you miss every shot you don’t take.

19 December, 2018 0 Comments

The Pipeline Is Intriguing

December 19, 2018 By Leave a Comment

Boynton Beach Town Square looking southwest.

So on Monday, I told you that I went to a Business Development Board breakfast in Palm Beach that focused on three landmark real estate projects: iPic, the redevelopment of the Old Office Depot site and a unique public private partnership in Boynton Beach called “Town Square”.

Sadly, I was too tired to actually write about it, but I’ve recovered enough from my whirlwind week to share a few thoughts on these projects which were warmly received by about 150 business leaders at the breakfast.

Let’s start with the iPic.

Now that the dust has settled on the development battle, it’s time to focus on what’s happening to the old Delray library site.

iPic will be moving its corporate headquarters into the project along with its conventional theater offerings. There’s roughly another 23,000 plus square feet of Class A office space left to rent.

Local firm Avison Young is spearheading the marketing drive and they are well positioned to bring solid corporate tenants to downtown Delray.

Downtown office space has been a longtime aspiration for Delray civic leaders.

Cities that are sustainable have to create places where people want to live, work, learn and play.

Delray has done a good job with downtown housing—although I worry about the lack of affordability caused by some very ill-conceived changes to our code. Having residents living downtown makes for a safer city (more eyes on the street) and helps to support downtown businesses.

We’ve done a good job on the ‘play’ aspects of downtown—with festivals and special events, some open space, activities like the CRA Green Market and some cultural amenities like Old School Square, the Arts Garage and the Arts Warehouse. It would be nice if we can finally do something at the Old School Square Park, which remains a major opportunity.

The learning component is a work in progress—some of our cultural amenities have education at its core but there’s room for more learning opportunities.

That leaves work….

Creating downtown office space isn’t easy. The office market is changing, the economics are difficult and parking and access are always a concern. But I’m excited about the office component of the iPic project as well as the offices being planned at Atlantic Crossing.

So I will be anxious to see what Avison Young turns up at the iPic site and wish them well. It’s a great location.

The Boynton Beach Town Square project is also exciting.

I’ve had the opportunity to meet with Mark Hefferin and his team at E2L Holdings and review the plans and vision for downtown Boynton Beach along Seacrest Boulevard. It’s very cool.

The City Hall, library and Police Department have been bulldozed and will make way for a 21st Century City Hall/library with incubator space, an event venue that can accommodate 6,500 people and a restored old school with a 500 seat theater and restaurant. Downtown commercial uses are also planned. It’s a 16 acre project with open spaces, a hotel and other uses that should really make a difference in eastern Boynton Beach.

It’s an ambitious project and it looks amazing. Boynton Beach is clearly going for it as they say. If they succeed, and I think they will, the project will be transformational for Boynton Beach’s brand and its future.

The city is making a big bet on the deal—to the tune of $118 million, plus private equity.

As for the redevelopment of the Old Depot site, I’ll have more later on this deal as it evolves. But the plans call for a mix of uses and some programming to catalyze the corridor.

The site has sat vacant for over a decade since Office Depot moved its corporate headquarters to Boca Raton. The goal now is to re-energize the site and the corridor with apartments, for sale townhomes, a revitalized Arbors office building and commercial uses.

Stay tuned, this is an exciting time in Southern Palm Beach County.

17 December, 2018 0 Comments

Sometimes Life’s A Whirlwind

December 17, 2018 By Leave a Comment

Do you ever feel caught in a vortex over a whirlwind?

Did you ever have one of those weeks?

You know the type, just a whirlwind of activity, commitments, travel, deadlines and pressure mixed with a few surprises that make you scratch your head and say “why does this have to happen this week of all weeks, I’m so busy!”

 

Mix in the holidays with its mix of fun and stress and you have a recipe for exhaustion.

I know you can relate. We’ve all been there.

So I wanted to post about this amazing breakfast I attended last week at the gorgeous and historic Colony Hotel in Palm Beach. The breakfast was sponsored by the Business Development Board of Palm Beach County, an organization that I admire and one that I’ve been on the board of a few times over the years. The BDB—as it is widely known—is Palm Beach County’s economic development organization responsible for recruiting, retaining and growing business in our beautiful community.

Their “Upper Level Breakfast” attracts about 150 CEOS and senior level business leaders so the audience is time pressed, smart and the kind of people who make things happen. At this particular breakfast, they welcomed Palm Beach County’s newest relocation, Mueller Industries, a $2.3 billion a year company with 4,500 employees that does business all over the globe. Pretty cool. And I got to sit at the same table with their top local exec which was also pretty cool.

The focus of the breakfast program were three significant—I would argue potentially transformational real estate projects—two of which happen to be under way in Delray Beach with the third in Boynton Beach. Those projects are iPic, Town Square in Boynton Beach and the redevelopment of the former Office Depot site on Congress Avenue. Since my company is involved in the Office Depot project I was asked to speak.

Now, I’d like to tell you more about those other projects and I will. In another blog post, hopefully this week.

But truth be told, last week was such a blur that I couldn’t tell you much. It was my goal to simply get through it—and I did. But my recall of the details is less than stellar.

So here’s how it played out.

We had a major hearing on the Office Depot project on Tuesday and a lot of pressure because of timing etc. So we have been consumed with a slew of details and questions.

Now I know there are people who can’t stand developers and this is not a call for sympathy, but trust me when I say that the field is not for the faint of heart or those who can’t handle endless curveballs and hundreds and hundreds of details that if missed can sink the project and take a huge bite out of your check book.

Since I am not a developer but work for a company that invests in real estate (and many, many other things) a lot of this is new to me and it’s like drinking from a fire hose of complexity on issues ranging from the law and sewage (not the same thing despite rumors to the contrary) to design and engineering.

I thought I knew a lot—and I do—for a layman. But there is no substitute for sticks and bricks experience and so I’ve surrounded myself with people who have been there, done that and know enough not to make the same mistakes— although there is always the chance to make new ones.

But I digress.

We got through the hearing with a nice vote of support from our City Commission and an ongoing pledge to work with the community. But it was late at night and I found it hard to sleep.

The next day I was up at 4 a.m. to catch a flight to Asheville, where we have invested in a really cool start-up. We wanted to meet the team, assess progress and talk about future needs. It was a great day, but also a long one since I had to fly back the same day in order to get up early again and drive to Palm Beach for the breakfast.

I was honored to speak because I respect the BDB and it was a good opportunity to access a slew of top business leaders and put our site on their radar. You never know when the next Mueller Industries may want to come to our beautiful city and we have a very special site.

But even after more than 20 years of public speaking I still get nervous before each and every speech I give. You’d think I’d be able to draw on experience or draw inspiration from past talks that went OK but I still sweat it… every… single…time.

Adding to my stress for this particular speech was my lack of sleep, my lack of preparation (because I’ve been running around) and my inability to connect with Tim Tracy, my BDB contact who was the keeper of the format, timing etc. Tim tried. I tried. We just couldn’t get each other on the phone. Ugh.

When Tim learned I was in Asheville the day before, he freaked out a little and was sending texts early on the morning of the breakfast to make sure I got back to Palm Beach County.

Of course I did and I made sure to be at the breakfast at 7 a.m. 30 minutes before the start so I could exhale and work on my prepared remarks which I inexplicably discarded when I got up to speak.

I’m not sure what I said…but it seemed to go OK. There was applause (a few laughs, I hope it was laughing with me not at me) and I met a lot of nice people after the program who expressed interest in our project. The other guys did great too….I just wish I could remember what they said. I was just relieved it was over.

I treated myself to a leisurely ride back to the office along A1A. I caught up on calls and soaked up the coastal scenery.

The rest of the day was a blur of meetings and emails and day dreams of my couch and hanging with my dogs—Randy and Teddy. But I was reminded by my wife that we had a party to go to that night at the Delray Hideaway, a neat little bar on East Atlantic.

Ugh…

Now, I like parties and I like people. And I really like the host of the party the amazing Delray Beach Community Land Trust and the incredible people who make that organization so cool.

But for one night only, I liked my couch more.

When my wife got a screw in her tire and texted me from XpertTech I replied that I was sorry and I guess we couldn’t go to the party. “Nice try” was the response from a woman who is always supportive, tolerant and sympathetic to my emotions. We were going.

And so we went and had a great time.

I’d like to tell you more about the Land Trust and someday I will. Just as  soon as I recover.

 

 

16 May, 2016 0 Comments

Youth Shall Be Served

May 16, 2016 By Leave a Comment
Mayor Grant

Mayor Grant

If you are a baseball fan—as I am—you can see the trend happening in that sport:  a move toward youth.

Winning teams are investing in young players and putting them out there with some amazing results.

They are also stocking up on young prospects, grooming them in the minors and investing big dollars in their farm systems.

Some teams—are mixing youth with more seasoned veterans. For example, the Mets talented young rotation features a lot of young arms but also features 42-year-old Bartolo Colon, a beloved veteran who is still pitching well (and hitting too, he slugged the first home run of his career recently and it took him a few days to round the bases). Colon can still get hitters out but he also brings intangible value as a mentor to the talented but inexperienced pitchers on the staff.

It made me wonder: maybe cities should be looking at that model as well.

That’s why I am fascinated with the most recent election in Boynton Beach. Voters there elected a 33-year-old mayor—who beat an 80 year old longtime incumbent and also elected a 32-year-old and 27-year-old to the commission.

It will be interesting to see where this youth movement leads—and if their brand of leadership is different than those who receive AARP Magazine every month.

I took a passing interest in the campaign and the message of the young candidates was simple: they stood for a more “modern” government, the expanded use of technology, an independent CRA (rather than a commission sitting as the CRA), fiscal discipline and a desire to make the city appealing and affordable to millennials. Voters went for it.

In a New Times piece after the election Mayor Steven Grant talked about positioning Boynton Beach as a city designed for 18-35 year olds mentioning how many in that age cohort were priced out of Boca and Delray. He also talked about the next two years as being critical for the city’s future—exhibiting a sense of urgency critical to success.

According to New Times, Grant’s newly elected teammates; 27-year-old Christine Romelus and 32-year-old Justin Katz envision Boynton as a livable, high density, affordable, working class community.

It will be fascinating to see whether they can pull off their vision or at the least move the city in that direction.

Newly elected officials have to ask themselves one question when they win their seat: is being a commissioner or a mayor a job to do or a job to have? It’s a simple question but how they answer and how they act determines whether they will be officials who matter or those who sit up on a dais for a few years putzing around playing small ball only to be termed out or beaten having accomplished little or nothing.

If you major in the minor and spend your term in office playing dodge ball you’ll be relegated to the dust bin of local history—not remembered fondly if at all.

But if you choose to make it count—and what an amazing privilege it is to serve– you have the opportunity of a lifetime to touch lives, transform neighborhoods and make a dent in your little corner of the universe.

Local government is the best of all forms of government—small enough to make change happen quickly and large enough to be fascinating.

I was 35 when I was elected in 2000—young compared to most of my colleagues in Palm Beach County at the time. I benefitted from sitting next to older commissioners who had life and business experience far beyond my scope at the time. And I think bringing the perspective of a young dad with kids in school to the dais helped them too.

A blend of new ideas and experience—and a willingness to listen to each other and to learn can make a huge difference.

I’m excited to see what that blend brings to Boynton Beach.