The Digital Hart BeatOnce a quarter J.C. Hart creates a newsletter for our associates called the Hart Beat. We would like to share these stories with you digitally as well. While this initial version of the Digital Hart Beat is a shorter summary of J.C. Hart news from 2016, we look forward to sharing more inside stories of our operations, partnerships, and celebrations in the quarters to come. We appreciate the relationship we have with you, and hope you enjoy these quarterly glimpses into what is going on at J.C. Hart.
J.C. Hart Celebrates 40 Years!Only once in a life-time do you get to experience a 40-year anniversary with any particular enterprise. J.C. Hart has been fortunate enough to celebrate its 40 years of existence in 2016! At this summer’s biannual Shining Stars awards event, held at The Willows, J.C. Hart celebrated that milestone with all of its Associates and a champagne toast. Built on a foundation of one-of-a-kind designs, great locations, and most importantly, our outstanding J.C. Hart Associates living our Core Values and delivering enjoyable living experiences to our customers, J.C. Hart has created a formula for success. The biannual Shining Star awards highlight the quarterly accomplishments of those most outstanding J.C. Hart Associates.
Construction/Development UpdateEarlier this year we completed construction on Lakeside of Carmel, Highpointe on Meridian, and Saxony Beachside. Leasing was very steady through the summer and we are excited to have these additions to our portfolio.
We are currently wrapping up clubhouse construction on our 82 unit property, City Flats on Walnut, in Bloomington, IN. Construction is also underway in Broad Ripple near 66th St. and College on our 108 unit community Park 66 Flats.
Phase II of One One Six will get started in November, and after years of development work Penrose on Mass will finally start demolition soon. We have also begun design meetings on the 250+ unit Harmony project in Westfield, and have approval to move forward with The Line - Urban Flats property at 64th and Westfield Blvd. on the Monon Trail in Broad Ripple.
All exciting news, and we thank our development and construction teams for their hard work and dedication on these projects.
Trek to the SummitIn January, J.C. Hart announced the expansion of our executive team with the addition of Dr. Pamela Carrington Rotto as Sr. Vice President, Chief Operating Officer. As a Gazelles International Certified Coach, Carrington Rotto brings a new focus to the J.C. Hart team as we grow and plan our near and long-term goals.
Through our planning we now climb toward our BHAG. "By December 31, 2025 we will provide enjoyable living experiences to families in 12,000 J.C. Hart homes."
We are excited to continue our growth in the multifamily housing space. Along with new development in Indiana, we look to grow in new markets, and we also look to expand our 3rd party management operations.
John Hart and Family at Alumni Awards Gala
John Hart Recognized by Alma MaterOn April 8, 2016, John Hart was inducted into the Indiana University Kelley School of Business Alumni Association’s Academy of Alumni Fellows at their 47th Annual Alumni Awards Gala. John was honored for his professional achievements and for his involvement in the Kelley School’s Real Estate program, offering his breadth of real estate knowledge to IU students over the past few years. John also received the highest of honors from the Kelley School’s Center for Real Estate Studies when he was presented with the Jeffrey D. Fisher Real Estate Legacy Award. “John is an outstanding example of the competence, integrity, friendship, and generosity embodied in the IU real estate community,” said Center Director, Doug McCoy. “It is my hope that the Center is doing an excellent job of executing its mission today so there are many John Harts in the future.” Congratulations, John!
Partnering With Old Town DevelopmentEarlier this year we began talks with Old Town Development regarding some mixed use development opportunities. As a result of these conversations we have begun working on an apartment component to Midtown Carmel, and we were selected as the management company for Sunrise on the Monon Apartments.
We're excited to add these fantastic Carmel locations to the J.C. Hart portfolio and begin working with the team at Old Town Development.
Words of Wisdom - John HartOn June 23rd we celebrated the grand opening of Lakeside of Carmel with our partners at Atapco Properties, and coupled the event with our 40th anniversary celebration with our many subcontractors, vendors, suppliers, designers, and financial partners. Experiencing special moments like these events brings back many fond memories and appreciation of all who have contributed to our success, not the least of which are all of our dedicated J.C. Hart Associates!
It is hard to believe where we have landed after 40 years. Sitting in my office on the west side of Indianapolis, having fought through the challenges of the reorganization we faced in the late 70's and early 80's, I was not sure where the future would take me or the Company. With a portfolio of 500 apartments as a base, we set out on a path to rebuild the Company with the hope to maintain the family feel we had established while following the vision my father planted with me of always living by the Golden Rule, or “treating others as you would expect to be treated yourself.” Perhaps the turning point in our efforts to grow was meeting the bright young architect, Gary Weaver. Soon after we met, we created a vision for The Springs Apartments, and the light came on when I discovered that each new property we develop should be treated as a new, one-of-a-kind opportunity to create our latest Picasso with each new J.C. Hart location. Since implementing this development philosophy we have built a foundation of one-of-a-kind designs, great locations, and the most important ingredient of our success -- the outstanding Associates of J.C. Hart living our Core Values and delivering enjoyable living experiences to our customers. Following these three guiding principles has resulted in our growth to a current portfolio of just under 5,000 apartment homes, with a volume of over 7,700 apartment homes developed, and over $600 million in development volume.
As we celebrate this significant milestone of 40 years, we can sense the enthusiasm for the future as we pursue our BHAG of Enjoyable Living Experiences in 12,000 J.C. Hart apartment homes. We have so much to be excited about!
Please let me once again thank all of our J.C. Hart Associates for their significant contributions to our success! Happy 40th Anniversary!