Q: What is your New Year’s resolution?
A: Personally, I need to lose 20 pounds—it’s been the most talked about 20 pounds for a while. On a corporate level, we want to focus on our core mission and disciplines. We’re not going to run off and buy a Lear Jet anytime soon. We have an annual meeting to examine our successes and our failures. We strive to learn from both and improve what we do and how we do it. We approach things cautiously. You don’t get wildly rich that way, but we’ve also found that you don’t go wildly broke, either.
About the Company
What: Affordable housing developer and operator
Founded: 1949
Headquarters: Wilmington, Del.
Employees: 170
2007 revenue: Declined to state
Units owned: 4,550 Units fee-managed: 4,100
Geographic coverage: Connecticut, New York, New Jersey, Pennsylvania, Ohio, Delaware, Maryland, and Virginia
About the Project
Project: The Village of Eastlake
Location: Wilmington, Del.
Units: 70 rental and 90 for-sale townhouses
Rent: Varies widely, between 26 percent and 115 percent of area median income
Notable: HOPE VI project; spawned several other subdivisions in a community that had only seen minor spot development for four or five decades