Knowledge and Flexibility While reliability is an important factor in any successful business, it takes more than honoring your commitments to build a winning real estate company. “They really do go the extra mile to make sure the details are taken care of and that we are apprised of the construction process,” says Patrick Higgins, director of communications at NCR.
Because The Wallick Cos. builds, owns and manages for its own account, as well as for third-party clients, it knows the operations and finance side of the business. And, it knows what it takes to get it done, says Kasberg. “They are easy to work with because they are people of integrity. When you want to make a change there is no argument.”
It’s that knowledge and flexibility that has caused Columbus Housing Partnership Inc. to continue to do deals with the Wallick Cos. “We use them because not only do they provide good apartment management services, but they have the ability to understand the financial structuring of our transactions which are extraordinarily complex with many layers of financing and many compliance issues,” says Amy Klaben, executive director of Columbus Housing. “They understand fair housing and ensure that it’s strictly complied with. They understand tax and bond rules. That is very important.”
While the company understands how to obtain the financing for complicated deals, it also knows how to deal with neighborhood groups and municipalities who are against the construction of its projects – particularly its affordable housing complexes.
According to Goldston, the easiest way to deal with not-in-my-backyard (NIMBY) groups, is to show them successful complexes which the company built 20 to 30 years ago that are well managed and maintained. “We show them how well-kept these properties are,” he says. “The fact that the [residents] don’t cause community problems … puts their minds at ease.”
At city council meetings, Goldston has been asked what type of people he was going to put in his units. His response, “If purple people with pink polka dots [need housing], that’s who I’m going to put in there. I’m going to put in people that need it.”
The company closely reviews each applicant for every apartment complex whether it’s low-income, market-rate or luxury housing. The company applies the same basic rules to everybody.
It also applies the same basic construction and quality materials in its buildings. “You’d be hard pressed to look at one of our complexes and say whether or not it’s low-income or market-rate, they look identical,” says Goldston. “We try to give the same quality and the same things in every community.”
An added touch found in its affordable housing projects is social service programs for residents. “The Wallick Cos. has helped us implement the coordination necessary with social service agencies,” says Klaben. “It’s an added level of work.”
Some of the more common programs include day care centers, computer training and financial counseling. And the final result, according to NCR’s Higgins, is an outstanding project. “The attention to detail is there. They come in on time and on budget. There are no surprises working with them. They know our mission – to build low-income housing – and their product fights the stereotype of what low-income housing looks like,” he says.