April 24, 2023

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.

Living at School

In 2019, the Cohen-Esrey Development Group (CEDG) completed the renovation of the Washington Historic Residences in downtown Independence, KS. The Washington Elementary School was dedicated on January 3, 1940, constructed with the assistance of the federal Public Works Administration (PWA). The two-story building is constructed of architectural concrete with horizontal bands of window openings and unique curved corners at primary entrances. The two front entrances incorporate unique detailing including a clock on the building face over the south entry and a built-in flagpole and dedication profiles of George Washington and Henry Longfellow at the north entry. The school reflects the early Modern Movement in architecture, defined by its stepped rectangular massing and clean lines with contrasting forms. The stepped massing and concrete banding provide subtle ornament on the building facade. Entrances feature curved concrete walls and railings characteristic of the Art Moderne style. The $5.4 million project produced 23 affordable one-bedroom units of 754 square feet renting for $455 to $555 per month. Units are equipped with plank-style flooring, washers and dryers, high ceilings, amazing windows, fully equipped kitchens, and plenty of extra storage. Federal affordable housing tax credits were used to fund the project along with federal and state historic tax credits.

Independence is the county seat of Montgomery County in southeast Kansas with a population of approximately 8,500. New York Yankees great, Mickey Mantle, started his professional baseball career in Independence. Coffeyville, KS, is approximately 22 miles away and the two communities share major employers including Textron Aviation (manufacturer of Cessna aircraft), Spears Manufacturing Company, John Deere, Standard Motor Products, and Cobalt Boats. Cohen-Esrey has had a presence in Independence since 1996 when it opened the Pheasant Point Apartments which was recently sold. Cohen-Esrey Communities (CEC) also manages another CEDG-developed property, the 8th and Main Senior Residences, just a few blocks from the Washington Historic Residences.

Amber Rodriguez (2021) is the Property Manager and Dawn Boyer (2022), is the Regional Manager. Leslie Whitney (2022) is the Property Accountant, Lana Frank (2022), is the Accounting Assistant, and Rodney Chmidling (2015) is the Accounts Payable Specialist.

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

Latosha Devould – Tower Village, St. Louis, MO – Property Manager
Avrie Jones – The Maxwell, Kansas City, MO – Leasing Agent
Matthew Scherbenske – Preserve at Westover Hills, San Antonio, TX – Maintenance Technician
Amber Bass – Hamptons at East Cobb, Marietta, GA – Leasing Agent
Adrian Kelly – Intrada, St. Louis, MO – Property Manager
Monica Murrell – The Park at Forest Hill, Memphis, TN – Leasing Agent
Mark Booker – Freedom Place, St. Louis, MO – Maintenance Technician
Stephanie Boyle – Andover Park, Kansas City, MO – Assistant Property Manager

Meet the Waverly Historic Lofts Team

We’d like to introduce you to the Waverly Historic Lofts team in Waverly, IA. L-R – Kenneth Dunmire (2022), Maintenance Technician and Alec Velador (2023), Property Manager. This affordable property was developed by the Cohen-Esrey Development Group (CEDG) and consists of 34 units. Congratulations to this team for delivering Customer Fulfillment to a level that places it on the NPS Leaderboard with a score of +33.33!

Customer Fulfillment at Lofts at Ventura

The Lofts at Ventura in San Antonio, TX, held an Easter event for the kiddos. For a rainy day, the turnout was excellent with 25 children in attendance along with their parents. A couple of vendors donated Easter basket stuffers and some finger foods. A resident helped with the coloring contest. And a conversation was had with the children about how to treat the property and how they can help keep it clean.

The event was organized by Tabetha Esparza (2022), Assistant Property Manager (left in photo), and Dee Bosier (2022) Property Manager (right in photo). What a great job of delivering Customer Fulfillment, which is evident by the Lofts at Ventura NPS of +62.96!

A Proud Grandma . . .

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

Our Director of Learning and Development, Marilee Scheid (2019), wanted to share a cute Easter baby picture. Her grandson, Hudson Boyer, will be turning one on April 25. He lives in Salina, KS, with his father who is a Salina police officer, and his mother, who is a nurse at Salina Regional Hospital. Cute doesn’t begin to describe this little guy!

Happy Birthday Hudson!

CEDG Welcomes Todd Sears

Todd Sears was recently named Vice-President of Development for the Cohen-Esrey Development Group (CEDG). He previously served as Chief Investment Officer and Chief Financial Officer of Valeo Financial Advisors, a registered investment advisor based in Indiana. Prior to that he was the Executive Vice President of Research, Policy and Strategy at Kittle Property Group, Inc. (formerly Herman & Kittle Properties, Inc.), in Indianapolis, Indiana, a national multifamily housing property developer. He joined Kittle in 2005. Since 2017, Todd has served as an adjunct professor of real estate finance at Butler University and since 2001 he has served as a public interest independent director of the Federal Home Loan Bank (FHLB) of Indianapolis. He holds a bachelor of science degree in finance from Indiana University, Bloomington, Indiana, and a master of arts degree in economics from Indiana University, Indianapolis, Indiana. Todd is a CFA® charterholder and holds a Chartered Alternative Investment Analyst designation.

Lee Harris (1975), President and CEO, met Todd in 2005 at the Affordable Housing Finance (AHF) Live conference, and they served together for several years on various panels at subsequent AHF Live conferences.

In his new role, Todd will be responsible for supporting the Development Manager team and developing additional systems and processes that will enable CEDG to scale its development program. His deep knowledge of affordable housing will be invaluable with bringing additional innovation to the firm. He will be based in Indianapolis and make regular trips to Kansas City.

Please join us in welcoming Todd to Cohen-Esrey!

A Sneak Peek . . .

The Annual Leadership Conference has concluded, and we thought you might like to have a sneak peek at what the attendees were doing. In the next issue of People & Properties, we’ll be recognizing the award winners. Meanwhile, HUGE KUDOS to Debbie Van Dyne (1987), Office Manager, and Tammi Jordan (2007), CEAI Executive Assistant, for their tireless efforts to organize the venue, transportation, rooms, meals, and other conference details. What an amazing effort and tremendous demonstration of Team Member Fulfillment and Commitment!

Debbie Van Dyne

Tammi Jordan

Are We Lifting Up or Tearing Down?

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

The news lately has been grim in many respects. So many headlines are focused on bad things people are doing. There were sexual assault scandals, charges of racism, political mudslinging, competitive misdeeds, and a host of other negative events. It seems like many of our citizens were committed to tearing down their fellow man. But to what end? How has this made the world a better place?

Entrepreneurs thrive on positive energy – we all do. Rather than use the hand to slap, how about we use it to lift up? Rather than pick others apart why don’t we pat them on the back. And rather than be hypercritical of everything about everyone, let’s intentionally look for the good. It goes without saying that this applies to our personal and professional lives alike.

If this sounds a bit too woo-woo, consider this. When are we most productive? When we are in conflict or in harmony? When are we most creative? And when are we the happiest and most fulfilled? I doubt anyone can honestly say that negativity has paved the path to their success. While our positive approach improves the wellbeing of others, guess what? It’s even more for our own benefit.

Here’s a simple test. Do you hear your friends, family and colleagues say more positive things about others, or more negative things? Recently I’ve listened to others (and myself) in this regard, and have noticed that often, the negative conversation outweighs the positive – that is, unless I move it in the other direction. When I intentionally find something good to say to someone or about someone else, it’s quite interesting to watch where the conversation goes. It takes a decided turn to the positive. Perhaps it’s contagious, or maybe it just needs a kick start. What’s fascinating is to see how easy it is moving others in a positive direction by just being positive myself.

This practice takes no effort other than authenticity and a genuine desire to see the good in others. When we pay compliments to a team member, a spouse, or a child, it’s obvious how it makes them feel. But how does it make us feel? Perhaps there’s a bit of an afterglow for us that creates a lingering positive mindset. A routine I have developed is to walk through our office several times a day and speak to people. I’m looking for ways to build people up rather than tear them down. This occurs by engaging in short conversations, offering a word of encouragement here or there and smiling – always smiling. The process is energizing for me and stokes my innovation and creativity. And members of my team seem to take the cue – we hear them saying nice things about each other and pitching in to help one another.

I firmly believe that an organization (or a family) with a strongly positive culture will do great things. An uplifting spirit will help us through tough times and give us the momentum we need to climb the metaphorical mountains that need climbing. If members of our team are always looking over their shoulder and wondering when they are going to be criticized, a negative mindset ensues. If there is backstabbing, a constant rumor mill, cliques or a general air of indifference, the culture will reflect the same.

Entrepreneurial leaders can be the difference maker when it comes to a positive or negative culture. The behavior we model in this respect will be noticed by everyone. If we are consistent about it, we may even help shift the mindset of others to entrench a positive culture that is permanent and enduring. Valuing the contribution of our team members and looking for every way possible to assist them is what can help us become the difference maker.

Making a commitment to continually see the good in others is healthy for our organization. The positive energy that it creates not only lifts everyone else but also elevates us to an even greater state of being.

The Cities of Cohen-Esrey

To date we have featured St. Louis, and Topeka, KS, in our series on the Cities of Cohen-Esrey. In this issue we’ll focus on a pair of cities in the same general vicinity – Joplin and Springfield, MO. Cohen-Esrey has operated seven apartment communities in Joplin and Springfield totaling 703 units, plus a 250,000 square foot shopping center. Clients for these properties have included Home Savings of America, the Missouri State Employees Retirement System, Citizens and Southern Realty Investors, Security Pacific, Inc., and several private partnerships. In one situation, Cohen-Esrey was retained to manage for a Real Estate Investment Trust (REIT) a property that was foreclosed and half finished. We stabilized the first phase, and then assisted the contractor in finishing construction of the second phase – the buildings had been sitting for over year in a 50% completed state. The second phase was then leased, and the property was ultimately sold. Cohen-Esrey also opened the Jenny Lind Hall Apartments, a 78-unit mid-rise building in Springfield, after construction was finished. On May 22, 2011, a massive E5 tornado tore through Joplin and destroyed the 80-unit Springview Gardens Apartments. Fortunately, no one was injured. Eventually the property was rebuilt by the forerunner of the Nexus 5 Group.

Joplin is in southwest Missouri, with a metro population of 210,000 and is only eight miles from the Oklahoma border on Interstate 44. In the early days Joplin’s claim to fame was its lead and zinc mines. Interestingly, the main part of Joplin is 75% undermined with some mine shafts well over 100 feet deep. These shafts have occasionally caved in creating sinkholes. Principals of Cohen-Esrey built and owned the 66-unit Somerset Apartments in Joplin, and during construction an old mine shaft was discovered requiring a building to be relocated – the footings initially had disappeared into the mine shaft! Today, this bustling city is home to numerous large employers including Freeman Health Systems, Walmart, Mercy Hospital, Tri-State Motor Transit, Tamko Building Products, Eagle-Picher, Alorica, General Mills, and Missouri Southern State University.

Seventy miles to the east on I-44 is the city of Springfield, the gateway to the Ozarks. One of the most popular Ozark destinations is Branson, only 40 miles to the south. The booming metro population has grown to more than 475,000, making it the third largest city in Missouri. Springfield’s nickname is Queen City of the Ozarks and is also known as the birthplace of Route 66. An estimated three million overnight visitors and day-trippers annually come to the city. Four nationally broadcast television series originated from the city between 1955 and 1961: Ozark Jubilee and its spin-off, Five Star Jubilee; Talent Varieties; and The Eddy Arnold Show. Major employers include CoxHealth, Mercy Health System, Walmart, Bass Pro Shops/Tracker Marine, Missouri State University, Jack Henry & Associates, and O’Reilly Auto Parts.

Jenny Lind Hall – 78-units – Springfield, MO

Springfield, MO

Another Empowerment Story

By Laureen Woods (2022), Property Manager, Brighton Creek

Laureen Woods (2022), is a Property Manager at Brighton Creek in Kansas City, MO. Here is what she has to say about her Empowerment:

In March of 2022 Cohen-Esrey purchased Brighton Creek and I was lucky enough to be chosen as the Community Manager. Although I had worked at Brighton Creek prior to the sale as the Assistant Community Manager, I still feel like I learn something new every single day.

With the technology and training that Cohen-Esrey offers, such as Quick Connect calls, communications with the Director of Revenue, and the help of my Regional Manager, this has helped me excel over the last 12 months.

With the knowledge that has been shared with me, it has been my pleasure to mentor other team members throughout the company.

The passion I have for this industry is endless. I encourage each of you to make a difference in this industry. Always be kind. This could mean being kind to a co-worker, prospect, resident, vendor, or a stranger in the parking lot of the clubhouse. We all have bad days and for any of you that need a pep talk, I am here to help find that silver lining. I love what I do, and I am here to Empower You to Thrive and share the knowledge I have learned in this industry.

The Little Red Hen

By John Hinman (2011), Managing Director, Nexus 5 Group

If you haven't read The Little Red Hen, it's a simple story of a hen asking her friends for help. Over and over, they say no. The book (originally published in 1954) goes on and the hen keeps asking for help and her friends continue to say no. At the end, the hen ends up with a mouthwatering loaf of freshly baked bread. Everyone wants to eat it . . . and the hen then says no and eats the bread all by herself!

So, what's the message here? Well, one message is, you become who you hang out with.

The hen became selfish because her friends were being selfish. If unchecked, you become the culture that you swim in. If you are in a culture like this, I challenge you to stand up and be an agent of change. Lead by example, be helpful, friendly, and put others first.

As you can see in the pictures, we had a bit of fun with this book. Joking around and sitting like kids (criss-cross, apple sauce, spoons in the bowl) while I read the book. However, even in the joke, the message was clear, and discussion followed.

At the Nexus 5 Group, we like to have fun and try not to take ourselves too seriously. You will not hear, “That's not my job” at this company. If you did, it would sound like a bullhorn in a library. It would be way out of place. Culture is incredibly important, and we work on our culture daily. We focus on our N5 Experience, which puts others first. And we are always willing to help, knowing that tomorrow it may be our team that needs the help. This mindset is contagious.

I know this may be a bit simple-minded to suggest a children’s book for business strategy, but sometimes the simple lessons sink in the deepest. Take a good look at our current culture, city, and country where we live. Sometimes, it seems that we've forgotten some of the simple principles in life, like being helpful and kind. The good news? You can do your part to impact the relationships in your personal and professional life in a positive way. If enough people think and act this way, it will make all the difference. And sometimes, your example might be the catalyst for that change in your company and in your family.

#servewell #N5Experience

Recruiting, Recruiting, Recruiting

Gina Long (2022), Human Resources Generalist, and Dee Krause (2022), Recruiter, recently represented Cohen-Esrey at a job fair at the Kansas City Community College as part of our ramped-up recruiting effort (that’s Gina on the left and Dee on the right in the photo). Dee and the HR Department are constantly looking for new ways to identify talented prospective team members for Cohen-Esrey and Nexus 5.

Remember that we have a Team Member Referral program that has been utilized extensively. Since May 2022, we have received 35 team member referrals – 18 in the last six months. This is where you come in! If you know someone who would be a good addition to Cohen-Esrey and/or the Nexus 5 Group, you may be rewarded a referral bonus of $1,000 for full-time positions or $500 for part-time positions if you refer a candidate who is hired.

Go to www.cohenesrey.com/careers to see all of our open positions.

When the candidate applies through our Applicant Tracking System, they must choose the source of Team Member Referral and include your name. Please make sure this happens at the time they apply. We cannot go back and award this to Team Members without the initial source being named.

All Cohen-Esrey and Nexus 5 Group team members, except those on the Leadership Team, Human Resources and managers with hiring authority over the referred candidates are eligible for the referral bonus.
The referral date cannot be earlier than the date the job opening is posted.
The referral must represent the candidate’s first contact with Cohen-Esrey and/or Nexus 5. Temporary, summer, contract and former team members, are not eligible candidates for referral bonuses.
To be eligible for a referral bonus, the candidate must identify the “source” as “Team Member Referral” in the applicant tracking system and include the Team Member’s name who referred them.
Only candidates who meet the essential qualifications for the position will be considered.
All information regarding the hiring decision will remain strictly confidential.
When a referred candidate is hired for a full-time position, the referring team member will receive the first $500 after the team member's first day, to be included in the next available pay period with the final $500 after 60 days. For part-time positions, the referring team member will receive the first $250 after the team member's first day, to be included in the next available pay period and final $250 after 60 days. Both individuals must still be employed in good standing.

Transformational Construction!

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

Siding installation continues at Sinclair Flats in Mankato, MN.

Final elements of site work being completed at the Lofts at Creekview in San Antonio, TX.

Foundation framing is underway at the Loma Vista Lofts in San Antonio, TX.

Forms being installed for the underground parking garage at Panorama Heights in Colorado Springs, CO.

Look how much dirt was moved by the golden shovels at the belated Panorama Heights groundbreaking ceremony!

NPS Leaderboards

The three NPS Leaderboards have been updated as of April 21, 2023, and the leaders remained the same as the prior month. In the 50-Units or Less category The Summit at Osage (Osage Beach, MO) leads with a score of +96.77. In the Properties 51 to 120-Units category, Orchard View (Farmington, MO) remains in the top spot with an NPS of +96.67. And in the Properties of More than 120-Units category, The Boulevard (Springfield, IL), continues to lead as it has for as far back as we can remember, with an NPS of +92.69. There are 37 properties on Leaderboards, and for a third month there are four properties on the Leaderboards with an NPS of +90 or higher.

We continue to recognize those properties with a Maintenance Survey NPS that is equal to or exceeds our Overall NPS of +39. To qualify a property must have surveys from the equivalent of 40% of its units or more. We continue to emphasize the importance of providing improved maintenance service to deliver Customer Fulfillment. There are 21 properties this month, the same as the previous month.

Maintenance Ticket Surveys