November 20, 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.

New Management Assignment in Peoria, IL

Cohen-Esrey Communities (CEC) has assumed management of Greenwood Estates in Peoria, IL for a third-party client. The two-story buildings contain 125-units and the property offers Section 8 rental assistance. Rental rates are $900 per month for a 687 square foot one-bedroom unit, $1,035 per month for a 788 square foot two-bedroom unit, $1,450 per month for a 1,276 square foot three-bedroom unit, and $1,600 for a 1,914 square foot four-bedroom unit. Greenwood Estates is one of a portfolio of 26 properties for which Cohen-Esrey will be assuming management from November through February. A second portfolio of five properties owned by a different third-party client is also set to also be managed by CEC. These new third-party management assignments total nearly 2,600 units involving 10 states.

A major port on the Illinois River, Peoria is a trading and shipping center for a large agricultural area that produces corn, soybeans, and livestock. Although the economy is well diversified, the city's traditional manufacturing industries remain important and produce earthmoving equipment, metal products, lawn-care equipment, labels, steel towers, farm equipment, building materials, steel, wire, and chemicals. Until 2018, Peoria was the global and national headquarters for heavy equipment and engine manufacturer Caterpillar Inc., one of the 30 companies composing the Dow Jones Industrial Average, and listed on the Fortune 100; in the latter year, the company relocated its headquarters to the Chicago suburb of Deerfield, IL. The population of the Peoria metro is more than 402,000. Peoria became the first world leader for distilleries thanks to Andrew Eitle (1837), Almiron S. Cole (1844), and Joseph B. Greenhut. Between 1837 and 1919, Peoria held over 24 distilleries and 73 breweries. Together, they produced the highest amount of internal revenue tax on alcohol (also known as 'Sin Tax') of any single revenue district in the entire United States; as much as 50% of tax revenue during the Civil War came from Peoria's district, largely due to distilleries and breweries. Peoria also was one of the major bootlegging areas during Prohibition and home to the famed mobsters, the Shelton brothers. This great success placed Peoria into a building boom of beautiful private homes, schools, parks, churches, as well as municipal buildings.

Dawn Boyer (2022), is the Regional Manager and we are recruiting a Property Manager. Chris Halley (2023), is the Property Accountant, Emily Fletcher (2022), is the Property 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.

Matthew Bliss – Park Edge, Lenexa, KS – Maintenance Technician
Destiny Kraemer – Waverly Historic Lofts, Waverly, IA – Property Manager
Taylor Copeland – Nexus 5 Group – Project Coordinator
Raheem Crawford – Park at Forest Hill, Memphis, TN – Groundskeeper
Mareco Bryant – Park at Forest Hill, Memphis, TN – Make Ready Technician

Meet the Hawthorne Hills Team

Staff Photo-gigapixel-low_res-scale-4_00x.jpg

Meet the team at Hawthorne Hills in Cedar Rapids, IA. (L to R) – Johnny Clark (2023), Maintenance Technician, Kristin Schutt (2023), Assistant Property Manager, Amanda Reisner (2023), Property Manager, and LaDerrick Metcalf (2023), Lead Maintenance Technician. Hawthorne Hills is a new 202-unit third-party management assignment for Cohen-Esrey Communities (CEC).

Transformational Construction!

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

Sitework is well underway at The Launchpad in Colorado Springs, CO, Soil is dry and no snow!

The roof is almost complete on Building 2 at the Loma Vista Lofts in San Antonio, TX.

The second floor takes shape on Building 1 at the Loma Vista Lofts.

Construction has gone vertical at Panorama Heights in Colorado Springs, CO.

At 301-units the Lofts at Creekview in San Antonio, TX, will be CEDG’s largest project to date.

A view of the Trails at Lehow from the parking lot in Englewood, CO.

We’re targeting spring 2024 for completion at the Trails at Lehow.

More pushing of dirt for Lewis Lofts in Mankato, MN. The plan is to get footings poured before the ground freezes.

A new kitchen at the Lofts at the Grim in Texarkana, TX.

Historical art donated by the city of Texarkana at the Lofts at the Grim.

We Are Grateful

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

This is that time of year where we intentionally focus on that for which we are thankful. Have we said thank you, lately? This Thanksgiving let’s celebrate our gratitude. Think about all for which we can be grateful. It’s not very hard, is it? Hopefully we’ve been acknowledging our gratitude throughout the year. After all, we know that maintaining an attitude of gratitude is part of the giving and receiving equation that enriches our lives.

Thanksgiving is a time to think about those who have been particularly instrumental in supporting us and helping to make our lives better. Was there a teacher who inspired us during our early years? Perhaps there was a mentor somewhere along the way. How about a friend who lent a sympathetic ear during tough times? Maybe a colleague encouraged us to step up and do something we never thought we could do. And of course, there may be a spouse or significant other who always believed in us.

To create a state of gratitude we must intentionally inventory those seminal figures that have helped shape our lives in positive ways. Then we take the opportunity to celebrate them and all that they have meant to us. There are many ways to do this. For example, we could write a heartfelt letter to that teacher expressing our appreciation for his or her inspiration so many years ago. We might make a charitable contribution in the name of the mentor we appreciate so much. Dinner at a nice restaurant for that fabulous friend who has been so encouraging could be a perfect expression of gratitude. A nice gift might be appropriate for that colleague who challenged us to stretch ourselves and be better. And maybe we could take a special trip to say thank you to the spouse or significant other who has stood by our side through thick and thin.

When we say thank you, we amp-up the gratitude process. It grounds us in the knowing that others have lifted us up and helped to propel us forward throughout our lives. By celebrating our gratitude for these wonderful souls, we open a major channel of positive energy that benefits others as well as ourselves. And we can continue to live in gratitude by paying it forward. Now, we can become that significant benefactor in someone else’s life by providing inspiration, support, mentorship, challenges, and love.

Living in gratitude year-round can be life changing for us and for others. Truly celebrating our gratitude brings a new level of momentum to the positive energy in which we thrive.

More to Celebrate!

On November 8, 2023, Elias Eugene Green made his grand entrance into life! Dad Josh Green (2018), Nexus 5 General Superintendent, and Mom Emma Green (2018), Nexus 5 Project Engineer, are ecstatic! The not-so-little guy was eight pounds three ounces at birth and 21” long. He looks kind of hungry!

Congratulations, Josh, and Emma! This is the ultimate in Team Member Fulfillment!!

Congratulations, Amanda!

Congratulations to Amanda Zepeda (2023) who has been promoted from Property Manager to Area Manager in the Cohen-Esrey Communities (CEC) Market-Rate Division. Amanda began her career in property management in 2015 as a leasing professional for an affordable property in Denver. She quickly became proficient in completing recertifications and helped maintain a high occupancy rate. This led to her being promoted to Assistant Property Manager in 2016.

In her new role, Amanda continued to excel in completing recertifications on time and earning a reputation as a problem solver. As a result, she was promoted to Property Manager in 2018. She continued to provide support to other properties, while maintaining her own property and won an award for being the "Affordable Property of the Year" in 2018. This led to her promotion as Senior Property Manager, where she managed multiple properties in downtown Denver.

In 2022, Amanda moved to Kansas City and successfully managed a large market-rate property, improving delinquency rates and increasing occupancy. Her performance earned her the "Star Performer" award.

In 2023, she joined Cohen-Esrey as the Property Manager at Jefferson on the Lake in the Kansas City suburb of Olathe, KS, where she increased occupancy, decreased delinquency, and exceeded income targets. She also assisted with other properties, when needed, and has been mentoring other team members as well. Her proven results have led her to a promotion to Area Manager where she will be responsible for three assets in the Kansas Area. And just recently she became a CPM® Candidate through the Institute of Real Estate Management.

Amanda attended Metropolitan State University in Denver, CO, where she earned a bachelor’s in business administration with a major in business management and a minor in microbiology. As a wife and a mother of three wonderful children, her family is her driving force to strive for excellence. In her free time, she finds joy in planting, gardening, and engaging in home improvement projects.

The Impact of Leadership on Operations

By Karen Crouch (2019), Director of Customer Fulfillment

Leadership in property management is a catalyst for transformation. It's the art and science of guiding teams to excel in their roles while creating an environment where the property's value and resident fulfillment are continually enhanced. A leader's influence is far-reaching—it affects the physical state of the property, the morale of the team, and the overall resident experience. Here's how to leverage that influence:

Develop Emotional Intelligence

Understanding the Human Element: Go beyond the numbers and recognize the human emotions that drive customer and team member fulfillment. Empathetic leaders can anticipate issues before they escalate, negotiate effectively during conflicts, and build strong relationships that contribute to a loyal community.

Invest in Training and Development

Fostering Competence and Confidence: Use tools like OASYS and CE University to create tailored training programs that address the unique needs of your team. Encourage participation in Quick Connects as opportunities for coaching and growth. Regular training eliminates doubt and builds a proficient, confident team equipped to handle the complexities of property management.

Implement Data-Driven Decision Making

Actionable Insights for Improvement: Data isn't just numbers; it's the story of your operation. Use KPIs to spotlight successes and identify areas for improvement. Leverage NPS to gauge resident fulfillment and tailor services to what they value most. Dive into financials to ensure that every dollar spent is an investment in the property and residents' future.

Model Transparent Communication

Cultivating an Informed Community: When information flows freely, trust grows. Encourage your team to share updates regularly and create channels for residents to voice concerns and suggestions. Transparency doesn't overwhelm; it empowers individuals to take ownership of their roles and contributions to the community.

Lead by Example

Be the Standard: When you personify the diligence, integrity, and commitment you seek, your team will mirror these traits. Be present on the property, engage with residents, and show that every task, no matter how small, is worth doing well. Your example sets the bar for everyone's efforts.

Prioritize Customer Fulfillment

Exceeding Expectations: A fulfilled resident is your best advocate. Develop a culture that doesn't just meet basic expectations but adds value in unexpected ways. Whether it's through personalized service, prompt responses to maintenance issues, or community-building events, show residents that this is more than a place to live—it's a place where they are valued.

In weaving these strategies into the fabric of your operation, you will see a property management team that is not just efficient but is proactive, engaged, and aligned with the overarching goals of the organization. With each leader's step forward, the entire property advances towards a brighter, more prosperous future.

Celebrating Long-Term Tenure

We are thrilled to share with you the names of 27 very long-tenured team members. We can’t thank them enough for their loyalty and Commitment to Cohen-Esrey and the Nexus 5 Group. Fun fact – on a cumulative basis – this group has over 530 years of service to our company. In this day and age of constant change, we want to celebrate these fine people for choosing to be a part of our team for such a long time.

Cohen-Esrey Welcomes Chris Halley!

Chris Halley has joined the Cohen-Esrey team as a Property Accountant. He is a graduate of the University of Missouri - Kansas City (UMKC) with a Bachelor of Science in Accounting. Chris has worked at Ash Grove Materials Group as a staff accountant.

In his new role, Chris will be the Property Accountant for a portfolio of 20-plus properties managed by Cohen-Esrey Communities (CEC).

Chris grew up in the Kansas City area. He enjoys spending time with his family (his wife and two daughters). His daughters are active in cheer and gymnastics.

We are excited to welcome Chris to our team!

It’s the Little Things That Make a Big Difference

This is a new feature for People & Properties over the next several months. We’ll be highlighting small Property Management 101 type of things that should be done to deliver Customer Fulfillment – and cost little to no money.

Let’s talk about CURBS. Are there weeds growing in the cracks and/or grass clippings and other debris present? Prospective and existing customers notice something like this. We need to understand how easy it is for first impressions to be ruined by something as seemingly minor as this.

Another Empowerment Story

By Dee Krause (2022), Recruiter – Corporate HR

Dee Krause (2022), is the Recruiter in the Corporate HR Department. Here is what she has to say about her Empowerment:

I still remember getting the call from Jennifer Turner (2018), Director of Human Resources, after applying at Cohen-Esrey, where she described my résumé/background as “unique.”

Previously, I spent 11 years in education; seven years as a high school social studies teacher and four years as a high school assistant principal, not the background you typically see with someone applying for a recruiter position. Whether it is education or talent acquisition, I have always had a passion for working with people, something that I have in common with all our awesome HR team members. From my first day to now, I have had clearly defined Roles and Accountabilities along with weekly check-ins for encouragement and support to meet my goals.

What makes Cohen-Esrey so uniquely special is the added support from team members to take ownership of my job. I have the freedom to try different approaches and openly discuss the challenges I am facing. I am praised for my perseverance and not perfection. I have been able to serve on a Synerteam and join committees to have my voice heard and give back.

The culture of Cohen-Esrey and the support of my supervisor have given me the confidence to try new things and take risks, which has been vital with the introduction of Chat GPT and AI generated resources. It is EMPOWERING to have the freedom to try new things and EMPOWERING to be embraced for the things that make me so “unique”

How is Cohen-Esrey Using Artificial Intelligence?

By Mark Fletcher (2008), Chief Technology Officer

Two years ago, a colleague inquired if it was possible to transform a blurry photo into a crisp and clear image. I scoffed at the idea, citing those cop shows on TV that unrealistically sharpen blurry license plate photos. As it turns out, I was mistaken. Even then, early artificial intelligence (AI) prototypes were adept at accurately manufacturing missing pixels in blurry photos.

It seems every week brings another news story about artificial intelligence. While some coverage is alarming and much of it is hyped, a significant portion is undeniably true and utterly astonishing. Many of these AI advancements give the impression of leaping 300 years into the future.

Take my daily one-hour commute into the office, for instance. I usually listen to audiobooks or podcasts. However, thanks to a new ChatGPT smart app, I now engage in real-time conversations with AI during my drive. Just last Friday, I spent my commute being quizzed on Japanese vocabulary and grammar by the AI. This is way better than a pre-recorded vocabulary course. The AI behaves like a real live tutor who can quiz, listen, and correct my pronunciation on the fly. This week, I have been studying tax credit syndication from start to finish. I simply interview the AI about all aspects of affordable housing tax credits and the AI responds to my questions with detailed answers, providing more information upon request. This interactive, conversational experience while I drive is absolutely revolutionary.

In fact, just the past year, here at Cohen-Esrey, we've employed AI to:

Generate charts and graphs from our KNET data.
Create Excel and PowerPoint documents.
Research best practices and recommend ways to implement them here at Cohen-Esrey.
Develop code for KNET.
Analyze process documents to spot gaps and bottlenecks.
Convert blurry property photos into high-resolution images.
Extend interior unit photos to show more of the ceilings or floors.
Insert virtual furniture into interior unit photos.
Erase cars from exterior building shots.
Produce stock art for ads, social media posts, and pitch decks.
Summarize notes from Zoom meetings.
Develop data models and write database code.
Detect elusive errors in spreadsheets.
Create content for training videos.
Diagnose personal computer errors and issues.
Handle phone calls and collect guest card data.
Proofread and edit articles for spelling and grammar, including this one.
Analyze prospect call logs to determine which amenities prospects are the most interested in.

That seems like a lot, and it is. But that is just the tip of the iceberg on what is coming over the next 12 months. In upcoming issues of People and Properties, I'll delve deeper into how you can begin utilizing these technologies now. I will also discuss what additional advances are on the horizon.

NPS Leaderboards

The three NPS Leaderboards have been updated as of November 17, 2023, and there has been no change from the previous month. In the 50-Units or Less category Orchard View (Farmington, MO) is the leader with a score of +92.59. In the Properties 51 to 120-Units category, Orchard View (Farmington, MO) remains on top with an NPS of +95.35. And in the Properties of More than 120-Units category, The Boulevard (Springfield, IL), continues its amazing string of first place finishes with an NPS of +90.63. There are 39 properties on Leaderboards – one more than last month, and there are four properties on Leaderboards with an NPS of +90 or higher. They include Orchard View, Orchard View II, The Boulevard, and Mills Crossing. A major disappointment is that our overall NPS has decreased from +39 to +38.

We continue to recognize those properties with a Maintenance Survey NPS that is equal to or exceeds our Overall NPS of +38. 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 26 properties this month, one more than in October.

Maintenance Ticket Surveys