January 26, 2026

Welcome to People and Properties, the Cohen-Esrey newsletter where we celebrate the successes of our team members and keep you informed about what is happening in the Cohen-Esrey world. If you have something you would like to share or an achievement that you would like to celebrate, please send it to Lee Harris at lharris@cohenesrey.com. If you are on a property, please print and distribute this newsletter to each member of your property team. You can also find People and Properties on KnowledgeNet. Click here to view previous editions.

Brand Spankin’ New!

The Heritage at Cottonwood Creek in San Marcos, TX, is now open! The 233-unit workforce housing property was developed by the Cohen-Esrey Development Group (CEDG) using Public Facility Corporation (PFC) bond financing and offers a combination of market-rate apartments and affordable housing. Amenities include a resort style swimming pool, fitness center, covered parking, outdoor lounge with trellis seating and hammocks, a kiddie pool, covered patio, covered playground, bicycle racks, BBQ grill with picnic tables, fenced dog park, gazebo, sports courts, outdoor game area with horseshoes and cornhole, storage units for lease, and electric vehicle charging stations for lease. Apartment interiors include private patio and balconies, ceiling fans in every room, washer/dryer hookups, designer kitchens with built-in microwaves, kitchen pantries, stone countertops, linen closets, garden soaker tubs with separate walk-in shower in select units, and double vanities in select units. Residents can choose one-bedroom apartments of 784 square feet renting for $1,650 to $2,048 per month; two-bedroom apartments of 985 – 997 square feet renting for $2,008 to $2,450 per month; and three-bedroom apartments of 1,224 square feet renting for $2,784 to $2,809 per month.

San Marcos, TX, is a vibrant city nestled between Austin and San Antonio, known for its natural beauty, youthful energy, and relaxed Hill Country charm. The city is home to Texas State University, which brings a lively college-town atmosphere, diverse culture, and a strong arts and music scene. One of San Marcos’s greatest treasures is the San Marcos River, a crystal-clear spring-fed river that stays a constant 72 degrees year-round, making it a popular destination for tubing, kayaking, and swimming. Downtown San Marcos features locally owned shops, restaurants, and live music venues that reflect the city’s creative spirit. Nature lovers enjoy nearby parks, trails, and the unique wildlife of the region. With its blend of outdoor recreation, academic influence, and small-town friendliness, San Marcos offers a high quality of life while maintaining close connections to major Texas cities. Overall, San Marcos has grown faster than many U.S. cities over the last decade, driven by regional migration, university expansion, and its location between Austin and San Antonio. The city grew from 44,894 people in 2010 to 74,316 today. The population is projected to grow to 142,000 by 2035.

Stacey Spangler (2025), is the Property Manager, and Eulalia Mendoza (2025), is the Regional Manager. Jalen Havel-Stephens (2024), is the Property Accountant, and Megan O’Connell (2025), is the Accounting Assistant. Jack Traeger (2023) was the Development Director, Lauren Cano (2021) was the Development Manager, and Michele Kiehl (2023) was the Construction Project Manager.

We welcome the following new team members to Cohen-Esrey and the Nexus 5 Group.

Rich Barone – Corporate – CEC Affordable Division – Regional Manager
Sandra Garza – Loma Vista Lofts, San Antonio, TX – Assistant Property Manager
Joey Green – Tower Village, St. Louis, MO – Maintenance Technician
Holden Howe – The Landing at 818, Sun Prairie, WI – Maintenance Technician
Amanda Glenn – Residences at Franklin Park, Denver, CO – Property Manager
Anne Johnston – Washington Historic Residences, Independence, KS – Property Manager
Randy Nelson – Bastion I, New Orleans, LA – Maintenance Technician
Joseph Sconyers – Hawthorne Hills, Cedar Rapids, IA – Maintenance Technician
Page Gerard – Geneva Towers, Cedar Rapids, IA – Assistant Property Manager
Emalee Bergmann – Orchard View, Farmington, MO – Leasing Agent

Meet the Launchpad Team

Meet The Launchpad team. (L to R) Dez Simcoe (2025), Maintenance Technician; Taylor Branch (2025), Property Manager; and Lilly Brown (2025), Case Manager. Not pictured: Leah Marshall (2025), Case Manager; Richard Breibart (2025), Case Manager; and Peggy Byrd (2025), Housing Program Director. The Case Managers and Housing Program Director are employees of thePLACE, the supportive services organization that provides residents services.

The Launchpad is a 50-unit affordable supportive services property located in Colorado Springs, CO, that was developed by the Cohen-Esrey Development Group (CEDG) for homeless youth and managed by Cohen-Esrey Communities (CEC).

Transformational Construction

Construction continues at Cohen-Esrey Development Group (CEDG) future communities.

Residents will begin moving into the Lofts at Creekview in San Antonio, TX, on February 13, 2026. Just in time for Valentine’s Day!

Putting the finishing touches on the clubhouse landscaping at Heritage at Cottonwood Creek in San Marcos, TX.

Exterior work continues at Overlook 157 in Asheville, NC.

HR Corner

By the HR Recruiting Team

New & Improved Candidate Interviewing and Screening Resources Now Available in OASYS

We’re excited to share updates to our interviewing and screening resources designed to support more consistent, effective, and values-driven hiring across the organization.

What’s new? We’ve introduced updated screening criteria and a standardized screening scorecard to help ensure candidates are evaluated fairly and consistently from the very first step. This scorecard is pre-loaded in Paycor for hiring managers to be able to add their scores and notes immediately. In addition, our interview templates have been refreshed and now include:

Situational and behavioral interview questions
Job-specific criteria tailored to roles
Core value–based questions to better assess cultural alignment

These tools are built to make interviews more structured, insightful, and aligned with our organizational goals—while still allowing flexibility for meaningful conversation.

All updated resources are loaded into Paycor and available in OASYS (Human Resources » Applicant Tracking »Interviewing) and ready to use.

Thank you for your continued commitment to thoughtful hiring and selecting the best talent to support our communities. As always, feel free to reach out to your recruiting team (Dee Krause (2022), Recruiting Manager; Val Quezada (2024), Recruiter and Franci Rabinowitz (2025), Recruiter) with any questions.

Historic Buildings of Cohen-Esrey

Cohen-Esrey has a long history of developing and/or managing some really cool historic buildings. In this series, we feature one such building in each issue.

Marquette Hall

Marquette Hall in Dubuque, Iowa is a historic residential community located at 2222 Queen Street in the city’s North End neighborhood. Originally built in 1920 as a Catholic school and later adaptively reused, the structure was thoughtfully converted into 28 affordable one- and two-bedroom apartments, blending historic architectural details with modern living spaces.

Today it primarily serves as a 55+ senior community, offering amenities such as controlled access, elevator service, on-site management, fitness facilities, and in-unit laundry. Its location provides convenient access to Dubuque’s shops, dining, and parks, all while preserving elements like wide corridors and original character from its past life. Marquette Hall stands as an example of adaptive reuse that maintains the city’s architectural heritage while providing quality housing.

In 2019, the Cohen-Esrey Development Group (CEDG) completed the conversion of this property into affordable apartments using federal historic and federal affordable housing tax credits. The total cost to purchase and renovate Marquette Hall was just over $6 million.

The Lack of Affordable Housing is a Crisis

The lack of affordable housing in the United States has escalated into a full-blown crisis, affecting millions of households and undermining economic stability, social mobility, and community health. As of recent reports from 2025, the nation faces a severe shortage estimated between 3.7 million and 4.7 million housing units overall, with even more acute deficits for lower-income groups. For extremely low-income renters (earning below 30% of area median income), there is a shortfall of approximately 7.1 million affordable and available rental homes – leaving only about 35 such units for every 100 households in need. This mismatch has driven home prices and rents to record highs relative to incomes.

The crisis stems from decades of underbuilding, particularly after the 2008 financial crisis, when construction lagged far behind population growth and household formation. Restrictive zoning laws, high land and material costs, regulatory barriers, and labor shortages have compounded the problem, preventing sufficient new supply. Recent high mortgage rates (around 6.5% in 2025) have "locked in" existing homeowners with low-rate mortgages, freezing resale markets and reducing inventory. Meanwhile, strong demand – fueled by population growth, including significant immigration – has outpaced supply, pushing prices upward. Home prices relative to median household income have reached all-time highs, with owning a median-priced home now requiring incomes far beyond what most families earn. In 2025, nearly 75% of U.S. households cannot afford a median-priced new home.

The human and economic toll is profound. Over 8.46 million very low-income renter households face "worst case" housing needs, paying more than half their income on rent or living in severely inadequate conditions – numbers near record highs from the HUD's 2025 report. Half of all renters (about 22.6 million households) are cost-burdened, spending over 30% of income on housing, with 27% severely burdened (over 50%). This forces families to sacrifice essentials like food, healthcare, and education, disproportionately impacting Black, Hispanic, and multiracial households, as well as those with disabilities or fixed incomes. Rising rents in low-income areas exacerbates homelessness risks, while high housing costs reduce workforce mobility, limit job opportunities, and hinder economic growth by billions in lost output.

Without bold action—such as streamlining permitting, incentivizing construction, and expanding rental assistance – the crisis will deepen, delaying milestones like homeownership (now at a median first-time buyer age of around 38-40) and threatening broader prosperity. Affordable housing is foundational to the American Dream; its scarcity marks a systemic failure demanding urgent reform.

Educational Assistance Policy is a Benefit for You!

By Marilee Scheid (2019), Director of Learning and Development

At Cohen-Esrey, Team Member Fulfillment is one of our Core Values – and supporting your growth and development is an important part of that commitment. We’re excited to share our Educational Assistance Policy, designed to encourage continuous learning and professional development. All the information can be found in our Team Member Handbook.

Company-Required Training

When training or coursework is required as part of your role, Cohen-Esrey will cover 100% of the cost, including tuition, travel, lodging, and meals. There is no tenure requirement for company-required training, if it is approved in advance by your Manager and Human Resources

Educational Assistance Reimbursement

In addition, the Company may reimburse up to $3,000 annually for approved educational expenses such as:

Continuing education courses
Tuition for job-related coursework
Seminars and conferences
Dues for approved professional organizations

To be eligible for reimbursement, the following guidelines apply:

Team members must have completed six months of service and be in good standing.
Prior approval is required before enrolling. Please complete the Educational Assistance Form and submit it to your Manager and Human Resources.
Approval is based on how the education applies to your current role or potential future roles at Cohen-Esrey.
Reimbursement is provided after course completion, upon submitting:
- Proof of a C or better (or Passing grade), and
- Copies of paid receipts for tuition, books, or other approved expenses.
Team members must be actively employed at the time reimbursement is issued.

Note: Team members who voluntarily leave the Company will be required to repay any educational assistance paid within the prior 24 months.

Never Say Never

By R. Lee Harris (1975), President and CEO

“If you think life is magical or life is hard, either way you are right. Your thoughts are the source of reality.” I love this quote by Dr. Debasish Mridha, an American physician and philosopher. And here is a phrase that is toxic to the entrepreneurial mindset – “It’s too hard.” Why? Because it is an affirmation – and a powerful one at that. There is nothing wrong with acknowledging that the mountain in front of us may be huge. But we can easily tip over into defeatist territory if we say something is “too hard.” Often that is a signal that it is time to give up. Au contraire!

Conquering something difficult and maybe even insurmountable is a true entrepreneur’s dream, much in the same vein as climbing Mount Everest or something less daring like public speaking. I want to “run to hard” and embrace it. I do so because I know that many others have run away from it. “Too hard” is an opportunity to blend innovation and creativity into a solution. It is an opportunity to witness the power of a positive attitude. It is an opportunity to learn how tough we are and how able we are to persevere.

There are examples all around us of how “too hard” really wasn’t. Think how hard it must have been to put a man on the moon in 1969 before the technological advancements we have today. The first heart transplant must have been amazingly hard – yet someone did it. And how hard was it for swimmer Michael Phelps to win 28 Olympic medals over the course of his career? There is no doubt that someone uttered the “too hard” phrase with each of these accomplishments. And that someone was obviously dead wrong.

Here is what I have learned. A leader must be the eternal optimist. He or she must absolutely and totally believe in the goal or objective. This belief must be authentic and genuine – not playacting for the team. There’s confidence on steroids at work here. But more than sheer willpower is necessary to generate the desired result. The effort must be strategic and smart.

Hoover, Electrolux, and Oreck seemed to have a corner on the vacuum market for years. Then along came James Dyson with a revolutionary idea in the late 1970s. He created 5,127 prototypes over five years and the G-Force Dual Cyclone was born. Dyson has since become a worldwide market leader with sales of more than $7.3 billion in 2019. Here is another example. Blockbuster had 2004 revenue of $6 billion while Netflix brought in $500 million. Today, Netflix has more than nearly 208 million streaming subscribers and Blockbuster is out of business. What happened to “too hard” with Dyson and Netflix?

Dyson revolutionized vacuum cleaner design and eliminated the need for a bag. It was clearly a disruptor in its industry. Its swivel ball technology also made it easier to use a vacuum cleaner in tight spaces – something the incumbent makers had failed to do. Netflix was all about convenience for its customers. I remember having to drive to the Blockbuster store to rent a movie. Meanwhile Netflix was sending them through the mail. Ultimately, the company figured out that streaming was the future and rode the wave in handsome fashion. “Too hard” was transformed into stunning success through innovation, creativity, perseverance, resilience and above all a “can’t lose” mindset.

How do these stories apply to us? If nothing else, it is imperative that we learn how to convert “too hard” into “let’s do it.” We must first convince ourselves that we can do whatever we set out to do. Then we must persuade our team to believe the same way. I know that this sounds like a lot of rah-rah. But the formula is a simple one. Yes, there will be risks – but we figure out how to manage them. Yes, there will be failure – but we use it to learn what works and what doesn’t. And yes, there will be periods where progress seems painfully slow – but we keep moving forward until we break through.

2026 Fair Housing & Sexual Harassment Mandatory Training

By Kipp Keffel (2024), Director of Training and Customer Fulfillment

I just wanted to send out a quick reminder, if you have not completed your 2026 Fair Housing & Sexual Harassment training, you have two weeks to complete the mandatory trainings. Make sure you and your team get them completed as soon as possible!

2026 Fair Housing: 50% of our property team members and corporate team members have completed the course.
Sexual Harassment: What Employees Need to Know: 35% of required team members have completed the training.
Sexual Harassment: What Supervisors Need to Know: 56% of required team members have completed the training.

2026 Sexual Harassment Trainings: Just a note, because of an unexpected glitch with the third-party sexual harassment training, it is not being automatically recorded onto KNET. I am manually uploading certifications to show that the course has been completed. So, when you take the course, you only need to complete it once and pass the quiz, you will receive credit once I have manually entered it into our system. No need to take it multiple times.

Please complete the courses listed below that align with your role:

Sexual Harassment: What Supervisors Need to Know – team members with direct reports.
Sexual Harassment: What Employees Need to Know – team members without direct reports.

Access courses through KNET/CE University/Course Catalog.

2026 Fair Housing (direct link) 2026 CE University Fair Housing Training – (required of all team members regardless of direct reports).

Access courses through KNET/CE University/Course Catalog/2026 Fair Housing.

Deadline: You will have until January 31 to complete the courses and successfully pass the quiz. You are required to complete one (1) Sexual Harassment training and one (1) Fair Housing Training.

If you have any questions, please reach out to me directly!

Congratulations, Jessica! Congratulations T.J.!

Congratulations to Jessica Bell (2014), Senior Project Engineer for the Nexus 5 Group, on the birth of her grandson! Born January 16, 2026, at 8:42 AM, Alexander Lee Jr. tipped the scales at six pounds one ounce and was 18-1/4” long. Mom Lexi and Dad Alex are thrilled with their new little bundle of joy. Of course, Jess and her husband Chris are over the moon as newly minted grandparents!

T.J. Vetaw (2023) and his wife Jazmine are the proud parents of son Jadiah, born on January 21, 2026, and weighed seven pounds 14 ounces. T.J. is a Commercial Maintenance Technician for Cohen-Esrey and takes care of our Corporate Headquarters office building. Mother and son are doing well and resting. Congratulations to T.J. and Jazmine on this blessed event!

Jadiah

Alexander Lee, Jr.

Cities of Cohen-Esrey

Enid, OK: Queen Wheat City

Enid, OK, is a welcoming city rooted in history, agriculture, and a strong sense of community. Located in north-central Oklahoma, Enid serves as a regional hub for Garfield County and the surrounding rural areas. With a population of just under 50,000, it balances the feel of a small town with the amenities of a larger city.

Founded during the Land Run of 1893, Enid quickly became an important railroad and trade center. That legacy continues today through its deep ties to agriculture and energy. The city is often called the “Wheat Capital of Oklahoma,” reflecting the vast grain fields that surround it and the role agribusiness plays in the local economy. Enid is also home to major employers in manufacturing, healthcare, and logistics, providing economic stability and opportunity.

Cultural life in Enid is active and accessible. The Gaslight Theatre, one of the longest-running community theaters in the state, offers year-round performances. The city hosts numerous festivals, including the Cherokee Strip Celebration, which honors Enid’s founding and brings residents together with parades, music, and local food. Parks such as Meadowlake Park provide green space for recreation, walking trails, and family activities.

Enid is also known for its strong civic pride and friendly atmosphere. Downtown revitalization efforts have brought new restaurants, shops, and murals that reflect the city’s character and history. With affordable housing, reputable schools, and a slower pace of life, Enid appeals to families, retirees, and professionals alike.

Overall, Enid, Oklahoma is a city that values its past while steadily building toward the future, offering a comfortable, community-oriented place to live and work.

Cohen-Esrey manages a 30-unit affordable apartment community – Clay Hall – in Enid, developed by the Cohen-Esrey Development Group (CEDG).

An Empowerment Story

By Brenda Job (2024), Assistant Property Manager – Oakwood Apartments

Brenda Job (2024), is the Assistant Property Manager for the Oakwood Apartments in Vermillion, SD. Here is what she has to say about her Empowerment:

Empowerment-the process of becoming stronger and more confident.

This of course is only one way to interpret the meaning of Empowerment, but to me this fits the entire narrative of Cohen-Esrey as a company and what I’ve gained by working here.

I have gained more than I would have ever imagined from this job and I honestly feel that is because of the company itself. From day one, the values this company imparts to their team members makes you want to be the best you can be, to succeed individually and to see the entire “team” succeed. The support truly starts at the top.

Working for Cohen-Esrey has given me a boost of confidence that not only helps me in my work environment but also in day-to-day life. I have seen myself grow into my role at the property and that can be directly accredited to the community of support that comes from this company. Cohen-Esrey has given me the tools and resources to not only be good at my job but to thrive in and out of the workplace, and to me, that is Empowering.

Fun Photo!

Here’s a photo from 2004 of the former Colonial Gardens Apartments on the Country Club Plaza in Kansas City, MO. Cohen-Esrey managed this property for many years before eventually converting it to condominiums. The condominiums sold very quickly.

This is How It’s Done . . .

By Arley Hoskin (2022), Leasing Performance Strategist

Leading From Within: Property Manager Excels While Living Onsite

Property Manager Denene Haafke (2024) doesn’t just lead the community at Western Heights – she’s also one of its residents. And according to her fellow residents, Denene does a fantastic job. Western Heights currently sits fifth on the Net Promoter Score (NPS) leaderboard with a score of +50. “I don’t direct them on how to fill out their surveys,” Denene said. “I try to treat everyone with respect. I’ll ask them how their day is going, and they’ll ask me how my day is going.”

Denene has worked in property management for more than 20 years after a coworker recommended her for her first role in the industry. “She told the owner that she knew someone she thought would do great with it,” she said. “I’ve been doing it ever since.”

Denene started at Western Heights about ten years ago and lives on the property. The 80-unit community serves seniors and individuals with disabilities in Sioux Falls, SD.

Regional Vice President Jayme Dannen-Deal (2024) said Denene stands out for her strong work ethic. “She works her tail off every day,” Jayme said. “She has a great work ethic.”

Not every Property Manager could handle the unique challenges that come with living on site, but Jayme said Denene’s professionalism allows her to navigate them successfully. “She has created some really good relationships, but she knows how to set boundaries,” Jayme said. “If you are going to live onsite, you have to know how to do that.”

Denene said she worked intentionally to establish boundaries, and once they were in place, they stuck. “The first year I was here, residents would come to my door after hours,” Denene said. “After about the second year, they decided they would leave me alone.”

Western Heights’ current occupancy is 93.75% and is expected to reach 96% soon.

Along with her healthy boundaries and strong work ethic, Denene also excels at handling resident conflicts. “She does a great job de-escalating situations,” Jayme said. “She has a nice demeanor but knows how to be firm when needed.”

When it comes to advice for other Property Managers, Denene said it all comes down to building relationships with residents. She maintains an open-door policy during office hours while holding firm boundaries when she’s off the clock. “I would say to get to know your residents so you know their names and can call them by name,” Denene said. “Most of the time, they just want to chat.”