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The Annual Real Estate Issue

2019

achieving

scale BASED in PENSACOLA, CATALYST HRE IS A NATIONAL LEADER

Studers remake Iconic Downtown Tower ‘The last tract we have’

+ON THE MARKET A REAL ESTATE SECTION


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EDITOR’S NOTE In preparing this magazine, I was asked by an out-of-town real estate investor to give my assessment of Pensacola’s real estate market. I am neither a Realtor nor an economist, yet I felt confident in telling him that the market is strong, certainly the most active that I have seen in my lifetime. The city’s growth is hard to miss. For example, my drive to work takes about three minutes. In that time, I pass two new major residential developments and one of the largest commercial renovations the city has seen in years. I don’t often make it up to Beulah, but I know that community has exploded with new development around Navy Federal. The story of Pensacola’s renaissance is one that we are familiar with by now. What began on Palafox Street has begun to spread to the rest of the metro area. Home sales (and prices) are soaring. New construction is everywhere. Old buildings are being given new life. Demand for rentals has never been higher. From an editor’s perspective, it can be hard to keep up with all that is going on. For years, it was said that Pensacola was a place with tons of potential. We’re starting to see what that potential looks like, but I think it’s fair to say the city is still far from what it could be. We need better access to the waterfront. Young professionals need affordable places to rent. Fortunately, there are people like mayor Grover Robinson and Quint Studer who recognize these challenges and are working to address them. This special real estate issue is our attempt to look at some of the biggest deals, trends and other happenings in the local real estate market in the last year, as well as ahead to what’s coming in 2019. Within these pages you’ll find market outlooks from local experts, reports on some the biggest deals that could shape our community for decades to come and the story of one local real estate company making a big splash on the national level.

OWNERS Malcolm & Glenys Ballinger PUBLISHER Malcolm Ballinger malcolm@ballingerpublishing.com EXECUTIVE EDITOR Kelly Oden kelly@ballingerpublishing.com ART DIRECTOR Guy Stevens guy@ballingerpublishing.com GRAPHIC DESIGNER / AD COORDINATOR Bara’ah Jaraiseh baraah@ballingerpublishing.com EDITOR Will Isern will@ballingerpublishing.com ASSISTANT EDITOR Kaitlyn Peacock kaitlyn@ballingerpublishing.com EDITORIAL INTERN Matthew Hanimov CONTRIBUTING WRITERS DeeDee Davis Eric Milstead SALES & MARKETING Paula Rode, Account Executive ext. 28 paula@ballingerpublishing.com Geneva Strange, Account Executive ext. 21 geneva@ballingerpublishing.com

In meeting the people who helped to put this issue together, it’s clear that there’s a lot of passion out there when it comes to Pensacola and where it’s headed. The people investing their time and money to build this city up really do care about what happens here. Real estate is only one part of our roadmap, but I think we have a lot to look forward to. Will Isern

314 N. Spring St. | Pensacola, FL 32501 850.433.1166 | fax: 850.435.9174 ballingerpublishing.com

NW Florida’s Business Climate Magazine and Pensacola Magazine is locally owned and operated. All Rights Reserved. Reproduction or use of the contents herein is prohibited without written permission from the publisher. Comments and opinions expressed in this magazine represent the personal views of the individuals to whom they are attributed and/or the person identified as the author of the article, and they are not necessarily those of the publisher. This magazine accepts no responsibility for these opinions. The publisher reserves the right to edit all manuscripts. All advertising information is the responsibility of the individual advertiser. Appearance in this magazine does not necessarily reflect endorsement of any products or services by Ballinger Publishing. © 2019

8 Business Climate


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Small Enough to Listen, Big Enough to Deliver


CONTENTS THE ONLY TRACT WE HAVE

13

SCALING UP: CATALYST HRE

16

NEIGHBORHOODS

23

A huge swath of prime land near Navy Federal is now in the county’s hands. What happens next will shape Beulah forever.

In just 10 years, this Pensacola company has become a national leader in healthcare real estate. They’re just getting started.

Take a tour of the thriving communities in and around Pensacola.

A HUB FOR GROWTH

13

31

Quint and Rishy Studer have remade the former Suntrust Building into a epicenter of community advancement.

EXPERT: COMMERCIAL MARKET TO REMAIN STRONG IN 2019 35 Commercial realtor DeeDee Davis gives her outlook for 2019.

HOUSING DEMAND HIGHER THAN EVER

Realtor Eric Milstead examines Pensacola’s red-hot housing market.

38

16

23

31

38

SPECIAL SECTIONS:

ON THE MARKET a real estate section PAGE 45 COVER: Catalyst Founder & CEO Chad Henderson photographed by Bara’ah Jaraiseh

10 Business Climate


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Escambia County staff and commissioners exchange deeds with officials from Naval Facilities Engineering Command Southeast at the county headquarters in downtown Pensacola on Jan. 29.

With OLF-8 in hand, county must decide Beulah’s future BY WILL ISERN

On Tuesday, Jan. 29 a Navy helicopter ceremoniously lifted off from a roughly 600 acre field adjacent to the Navy Federal Credit Union campus in Beulah and Escambia county finally took possession of the property known as Outlying Field 8.

The Navy, in return, got a new, $17.5 million helicopter field in Santa Rosa County. The land swap brings into Escambia County’s possession what is arguably the most desirable and important piece of property for the future economic development of Escambia County. “When you look at all of our property adjacent to the interstate, this is the only tract we have,” said FloridaWest Economic Development CEO Scott

Luth. “Everything else we have has been developed, has topography issues or potential wetland issues … I’m not going to say it’s the only one, but it is the largest one closest to the interstate.” At 636 acres with frontage along 9 Mile Road, the land has the potential to create jobs and bring sorely lacking amenities to an area of the county that has seen explosive growth as Navy Federal has expanded its Pensacola campus to employ more than 6,000 people. The trick will be striking a » Business Climate 13


A helicopter arrives on site at NAS Whiting Field’s Outlying Landing Field Site X, an about 600 acre piece of land outside of Jay, Florida, Jan. 30. The now-defunct OLF-8 was given to Escambia county in exchange for this new land. The Navy will use this new land to train rotary-wing pilots.

balance between the county’s desire for jobs, Navy Federal’s need for more space, the private sector’s wishes for the property and the needs of Beulah residents. Offers to buy portions of the land have already come in. Navy Federal has offered $4.2 million to purchase 100 acres abutting the western border of its campus, and a group of private developers have offered $18 million for the remaining 530 acres. Meanwhile, Escambia County has its own plan to use $30 million in BP oil spill money develop the property as a commerce park and create 1,000 jobs. And all of these plans are likely contingent on the results of a master planning process which could take more than a year to complete. OLF-8, as its known, was identified more than 20 years ago as important asset and economic development heads have worked since to see it come into the county’s hands. The question facing county leaders now is, “What is the highest and best use for the land?” District 1 Commissioner Jeff Bergosh represents Beulah on the Escambia County board of County Commissioners and lives across Nine Mile Road from the OLF-8 property. Bergosh is adamant that the property be used to create the necessary 14 Business Climate

1,000 jobs so as to qualify for the When those buildings are $30 million in BP oil spill money. complete, company spokesman Bill Pearson said, parking will Practically, Bergosh said he become a challenge. envisions shops and restaurants along 9 Mile Road and mixed“That’s where the OLF-8 use development further from property really comes in to play the road. for us,” Pearson said. “We would use some of that property to “We need more amenities for expand some of our parking for the community provided by that side of the campus, and the private sector, and I mean then we also are committing to restaurants, shops, things of that creating some recreational space nature,” Bergosh said. “It’s sad for both our employees and for to say right now if you want a the public to use.” hot meal in Beulah, you’re only option is a Tom Thumb gas If the county agrees to sell the station … So if I had to guess 100 acres Navy Federal wants, right now I think you’ll see the company has promised amenities, shops, restaurants on to create an additional 300 the frontage of Nine Mile Road, jobs, or roughly a third of the you’ll probably see a center jobs necessary to secure the portion dedicated to some job BP money. Navy Federal is on creation and probably the back track to have 10,000 employees maybe some mixed-use, maybe working at its campus by 2022. some lofts, something like that, and some sort of a town center Not long after Navy Federal feature. That’s what I anticipate made its offer for the 100 acres, the master planner will come up private developers Hemmer with, but that’s about a year away.” Consulting LLC and 68 Ventures LLC put forth their offer of $18 Alongside its offer to purchase million for the lion’s share of the the 100 acres, Navy Federal property. Hemmer developed the has also offered to pay up to $2 Huntington Creek subdivision in million to fund the master plan Beulah and is working under the for the property. The company county’s mid-west sector plan to is currently constructing two build more than 10,000 homes. new massive office buildings at its Heritage Oaks campus that, Hemmer said he supports the when complete, will double the master planning process for the amount of office space from 1 site and would hope to develop a million to 2 million square feet. town center project.

“I see it as a good opportunity where we have a huge investment in this area,” Hemmer said. “We think the master plan that the county will go through is what should be done there. We think that by letting the county control that planning process it would result in something that we would enjoy developing.” For all the years and dollars it has taken for the county to get to this point with OLF-8, the project is effectively at square one. It remains to be seen whether the county will accept either of the offers it has been presented, or whether it will be able to secure the $30 million in BP money. One thing is certain, however. Whatever happens with OLF-8 will change Beulah forever. “I think it’s going to produce something that’s a win-win for the business community, a win for Navy Federal, a win for residents like me who are looking for a couple restaurant options, perhaps a big-box grocery store,” said Bergosh. “I think there’s a lot of good things in store for Beulah and this will just be one part of it.”


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Catalyst Founder & CEO Chad Henderson


Scaling Up:

Catalyst HRE goes next level BY WILL ISERN

I

N THE YEARS leading up to the Great Recession, Chad Henderson was an entrepreneurial twenty-something fresh from college making his first forays into the red-hot real estate market of the early-2000s. When the recession hit, Henderson, like real estate investors everywhere, got hit hard. But he was still young and had seen the market in boom and bust.

“I was really blessed to be able to see an thriving market and learn from that, and to see a rock bottom market and learn from that and still be at a very young time in my career,” Henderson said. “So one of the big takeaways from that was that I did not just want to be a deal guy, I wanted to really offer up a true valueadded proposition to whatever sector of real estate that I ended up working in.” Early on, Henderson did a few deals developing healthcare clinics in northwest Florida and noticed there were few other players in the market. He enjoyed the health clinic deals and set his sights on making his company, Catalyst, an industry leader in healthcare real estate. “I wish I could tell you that over 10 years ago I was a visionary and knew that the Affordable Care Act was coming down the pipe and that all of this healthcare delivery would change and they would need more dynamic real estate outlets than they had in the past,” Henderson

said. “The reality is I did a couple clinics early on, I really enjoyed the stakeholder engagement of the provider and all of that that went on with healthcare real estate, really looked around our neck of the woods and noticed no one was really focused on healthcare real estate and began to dive in and learn more about it.” In the decade since, Henderson’s company has grown by leaps and bounds to become one of the nation’s largest private equity real estate investors with more than two million square feet of healthcare real estate under management in 11 states. The company has doubled the size of its workforce in the last twelve months and is currently working on over half a billion in acquisitions and development. Henderson, 39, said he expects to double the company’s assets within twelve months. Catalyst’s meteoric rise can be attributed to a combination of Henderson’s vision, ambition and excellent timing. »

Business Climate 17


Catalyst HRE developed the 24,000 square-foot Baptist Airport Clinic from the ground up. The facility opened in March 2017. 18 Business Climate


Scaling Up We think that that continuum of services align really nicely with healthcare and all of the changes going on in healthcare. So we can be an ongoing strategic real estate partner for the providers.” With the passage of the Affordable Care Act and a shift in healthcare to pay-forperformance, doctors across the country were incentivized to band together in larger and larger groups. Whereas 20 years ago a doctor might have maintained her own office, it is increasingly likely today that she is employed directly by a large company or specialty group. These groups need facilities in which to see and treat their patients, but aren’t necessarily interested in owning them. Instead, they lease them long-term from companies like Catalyst. Catalyst leverages that stream of guaranteed income to gain access to capital, acquire more properties and thus achieve scale. Investors, Henderson said, have begun to recognize the potential value of healthcare real estate separate from other commercial real estate. “Healthcare until about 20 years has been under the umbrella of office (space), but as healthcare delivery has changed and access to healthcare has become more prevalent, healthcare real estate has really started to become its own sector, and that market has begun to mature,” Henderson said. “We think that’s going to continue for reasons like an aging demographic. As our population ages then they’ll want more access to healthcare, so intuitional investors will get more conformable placing capital and understanding healthcare credit and healthcare delivery and so forth, and we’re hopefully a really good avenue for those institutional investors to invest in healthcare.” Catalyst’s growth from a local startup to a national player has been quick even by Silicon Valley standards, more so for a company headquartered in Pensacola. The transition from what Henderson termed “country club capital” to true scale was critical. Rather than have to

negotiate with new investors each time Catalyst wanted to make a deal, the company sought out a programmatic institutional capital partner. It took time to find the right partner, but last summer Catalyst entered into a equity joint venture partnership with Boston, Massachusetts-based Bain Capital Real Estate. With a reliable access to capital, Henderson has set his sights on building a billion-dollar healthcare real estate portfolio over the next three years. The company has opened offices in Ocala, Milwaukee, Wisconsin and Winston-Salem, North Carolina, and hired industry veterans in key leadership roles. Major acquisitions followed, including a $150 million, 21-property deal in August 2018 with Physicians Realty Trust, a publicly traded real estate investment trust. Physicians Realty Trust CEO John Thomas said Henderson and Catalyst have quickly established themselves as leaders in the healthcare real estate industry. “I was impressed with Chad from the outset,” said Thomas. “He’s a very entrepreneurial guy, he has very high integrity and a very strong ability to build relationships. Because of that we bought a few buildings he had developed just to put our toe in the water, and since then we’ve sold some to him and he’s sold some to us, things that fit his strategy better or fit our strategy better. One of the things our success has allowed us to do is work with people we want to work with and not those don’t want to, and he easily fits in that category of people we want to work with.” Henderson has worked hard to position Catalyst as a dynamic, growth-stage company on the cutting edge of the transition in healthcare. » Business Climate 19


Scaling Up

The interior of the Baptist Airport Clinic developed by Catalyst HRE. The company not only does traditional real estate development, but also consulting, lease administration and maintenance.

20 Business Climate


MEET THE TEAM Catalyst HRE has doubled the size of its workorce in the last year.

Catalyst describes itself as a healthcare company first, built on the four pillars of “plan, create optimize and manage.” The company not only does traditional real estate development, but also consulting, lease administration, maintenance and more. Catalyst’s goal, Henderson said, is to be an ongoing partner with its clients. “We think that that continuum of services align really nicely with healthcare and all of the changes going on in healthcare,” Henderson said. Catalyst’s ability to establish itself in less than a decade as one of the nation’s leading healthcare real estate firms in the country, Thomas said, is a testament to Henderson’s tenacity and the market’s fragmentation. Unlike apartment buildings or retail locations, healthcare facilities are still largely owned by individual doctors or healthcare groups, meaning there’s lots of potential for companies like Catalyst to buy and lease them back to the healthcare providers. “It’s an extremely fragmented area of real estate,” Thomas said. “Ninety percent of malls, for example, are owned by (real estate trusts), but only 10 to 20 percent of

medical facilities are owned by institutional capital. So the amount of it being owned mostly by doctors and hospitals has created enormous opportunity for people who know what they’re doing, and Chad is definitely one of those guys who knows what he’s doing.” Despite his company’s tremendous growth, Henderson has never sought to relocate Catalyst from Pensacola. The company occupies the fourth floor of the Rhodes building in downtown Pensacola, which it purchased from Quint Studer in November 2015 for $3.1 million. The office, with its exposed brick, reclaimed wood and glass walls, could be mistaken for a tech startup. Henderson’s own office is modest, though a considerable step-up from his humble beginnings as a 16-year-old selling ice cream to boaters on Perdido Key. Henderson was recently named chairman of the Studer Community Institute and said he is passionate about the city’s growth and keeping his company here. “I’m extremely passionate about Pensacola,” Henderson said. “My family is from here, I grew up here, this is home.” •

Business Climate 21


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22 Business Climate

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Welcome to the Neighborhood

Highlighting 12 communities in and around Pensacola BY KAITLYN PEACOCK

The City of Five Flags is no stranger to people – lots of people, with lots of different cultural identities and backgrounds.

Everyone who has come through the city has touched it in some way, leaving an imprint even as the city has grown over the years. Throughout the many neighborhoods in Pensacola, you can find white-sand beaches, classic and modern housing, a myriad of shops, restaurants and bars and a lot of history, and that’s only scratching the surface. To mark the city’s continued growth and expansive history, Business Climate has gathered some highlights of the major neighborhoods in and around Pensacola. » Business Climate 23


Welcome to the Neighborhood

East Hill

Population: 13K School Districts: OJ Semmes Elementary School; JH Workman Middle School; Booker T. Washington High School Private Schools: East Hill Christian School; Jacqueline Harris Preparatory Academy; Sacred Heart Cathedral School; Montessori School of Pensacola; Pensacola Private School of Liberal Arts; Lighthouse Private Christian Academy

O

NE OF THE OLDEST NEIGHBORHOODS in Pensacola is historic East Hill, a classic neighborhood for the modern era. Originally only a mile-long stretch along Pensacola Bay, this neighborhood soon grew to two “heights,” which became East Hill and North Hill. Today, East Hill is located at the heart of Pensacola, within walking distance to downtown and only a few minutes away from Pensacola Beach and I-10. Boundaries for the neighborhood include Bayou Texar to Ninth Avenue and Lakeview and Belmont Streets, though some residents say East Hill includes streets farther north. As Pensacola continues to grow, East Hill has become the prime spot for new homeowners, causing market prices to rise and more homes to be built. The centralized location and focus on a beautiful, quiet atmosphere makes East Hill a great place for professionals looking to work in the

expanding downtown or for families wanting to settle into a suburb-like neighborhood while still being in the center of the action. Although one of the oldest neighborhoods, East Hill continues to grow, with the new Bayview Community Center on track to open this year and new homes under construction throughout the neighborhood. Along with a thriving residential area, East Hill also sports several commercial enterprises, including restaurants, grocery stores and more. Anything you can’t find in East Hill though, you can find with just a short walk to downtown Pensacola. For those wanting a bit of history in their streets and a bit of personality in their home, East Hill is exactly where you’ll fit in.

Belmont-DeVilliers A

Population: 1.8K School Districts: Global Learning Academy; JH Workman Middle School; Pensacola High School Private School: Episcopal Day School Early Learning Center

24 Business Climate

NYWHERE YOU STAND in Pensacola, chances are you’ll only be a stone’s throw away from something historic, but there are few places this is most true than in the Belmont-DeVilliers neighborhood. Development of the neighborhood really began after the Civil War in response to Florida’s strict Jim Crow laws at the time. Many African-Americans moved into the area to escape the segregation that was present throughout most of Pensacola. In time, the neighborhood grew into a thriving commercial district and became a center for African-American culture, specifically supporting a large music scene. The neighborhood’s current boundaries are Gregory to Cervantes Streets and A Street to Spring Street.

After an extensive plan to preserve and revitalize the neighborhood beginning in 2004, BelmontDeVilliers has been growing back into the thriving district it once was. With new homes and businesses moving into the area, as well as many historic buildings seeing proper care and renovations, the neighborhood has become a place to find affordable housing near downtown and right at the center of Pensacola. Growth has continued and the city’s Community Revitalization Agency is still doing work within the neighborhood. Belmont-DeVilliers is the place you want to be if you’re looking for an up-and-coming neighborhood with lots of history to explore.


Gulf Breeze Proper Population: 8K School Districts: Gulf Breeze Elementary School; Gulf Breeze Middle School; Gulf Breeze High School Private School: Good Shepherd Lutheran School

J

UST ACROSS THE PENSACOLA BAY BRIDGE, you’ll be greeted by palm trees and beach town feelings. Gulf Breeze Proper runs from the tips of Fair Point and Deer Point up until the edge of the Naval Live Oaks Nature Preserve, bordered by Bayshore Road. Once a simple shipping colony called Town Point, Gulf Breeze expanded with the growth of the yellow pine lumber industry that was taking root in nearby Pensacola. However, Pensacola and Gulf Breeze wouldn’t connect until the early 1930s, when the Pensacola Bay Bridge and Highway 98 were completed. Although comparatively small, the town has become a haven for anyone seeking a quiet town within a few minutes’ driving range of the city and the beach. Despite the relatively small space in Gulf Breeze Proper, the popularity of homes within the area has boomed, creating an increase in demand for houses. New homes are being constructed, but many

Pace

Population: 29.5K School Districts: Avalon Middle School; Pea Ridge Elementary School; SS Dixon Primary School; SS Dixon Intermediate School; Thomas L Sims Middle School; Pace High School

are seeking space just outside of Gulf Breeze Proper’s limits, as the population boom has made the area west of the Naval Live Oaks tight. Within the neighborhood limits is a strip mall with boutique and larger retail shops, bars, restaurants and services, along with the mega complex that includes the primary, middle and high schools. If you are looking for a small town vibe with big things happening, Gulf Breeze Proper is the best small town beach town in the area.

P

ENSACOLA HAS BECOME an expanding metropolis over the years, and those seeking work in the city might need a quiet place to call home. Pace is one of the fastest growing communities just outside of Pensacola’s city limits, growing from a population of just under 7,500 people in 2000 to quickly approaching 30,000 today. Considered part of the urban sprawl of Pensacola, Pace has a suburban feel without being too far from the plethora of work places offered in both Pensacola and Milton. Pace is located a short drive north of Pensacola on Highway 90. Once a lumber town called Florida Town, Pace is now a great community for families, with parks, outdoor spaces and small shopping areas within the suburb. The dramatic population increase has led to continuous

construction, however most homes are affordably priced for working families. The population of Pace is expected to grow, and with it, more businesses are expected to move into town. For those needing something more than what the suburb can offer, Pace is within reasonable driving distance to shopping and services offered in Pensacola and nearby Milton. Offering the quiet atmosphere of a big city suburb with small town affordability, Pace is your goto place for growing your family just outside the city limits.

Business Climate 25


Welcome to the Neighborhood

North Hill Population: 5K School Districts: Global Learning Academy; JH Workman Middle School; Pensacola High School Private School: Episcopal Day School Early Learning Center

D

ID YOU KNOW THAT there is a neighborhood in Pensacola that has been declared an U.S. historic district? That district would be North Hill, which has more than 400 historical buildings alone. As one of the oldest neighborhoods in Pensacola, North Hill originally held Fort George, built in 1778 to repel attacks from the north and played a vital role during the Revolutionary War. The boundaries of the North Hill Preservation District include Blount, Palafox, Wright, Belmont, Reus and DeVilliers Streets. As one of the oldest neighborhoods, North Hill contains a myriad of housing styles, including Queen Anne, Craftsman Bungalow, Colonial Revival, Neoclassical, Tudor Revival, Art Deco, Victorian and others. The combination of styles is very

unique to North Hill, though you can find many of these styles scattered throughout the city. North Hill is within walking distance of downtown Pensacola, but there are several restaurants, grocery stores and other businesses within the neighborhood. The convenience of its location makes it a popular spot for people to move, though the historic nature of much of the neighborhood has prevented a lot of growth. Renovations and preservation of old buildings is ongoing, and there is still a bit of new construction to be found if you look hard enough. The eclectic and historic nature of North Hill makes it a haven for those searching for something a little different for their home and a lot of stories to find out about their street.

Cordova Park O

Population: 2.8k School Districts: Cordova Park Elementary School; JH Workman Middle School; Washington Senior High School

26 Business Climate

NE OF THE STRICTLY residential communities within Pensacola, Cordova Park runs from 12th Avenue to the southeast, cutting off near Inverness Drive and is bordered on the northeast by Summit Blvd. and to the southwest by Bayou Texar. This small, gated community is a beautiful, quiet area of Pensacola located just outside some of the biggest economic areas of the cities, the Cordova Mall and the Pensacola International Airport. As one of the newest neighborhoods developed in Pensacola, with the new construction beginning around the start of the 20th century, it is one of the best places for professionals and retirees to enjoy their days. A unique aspect of Cordova Park

is its lack of commercial ventures, with only a few small businesses within the neighborhood proper. However, the nearby Cordova Mall makes up for this in spades, giving residents easy access to almost any business or service they could possibly be looking for. Although one of the newest developments, space is limited as many of the land parcels have been already built upon. The homes featured within the neighborhood primarily consist of ranch-style singlefamily houses, with a few rental properties as the exception. This neighborhood offers an escape from Pensacola without leaving the city limits and can offer a beautiful home with a more modern style.


Pensacola Beach R

Population: 8K School Districts: Pensacola Beach Elementary School; Gulf Breeze Elementary School; Gulf Breeze Middle School; Gulf Breeze High School

EADY FOR A BEACH PARTY? Pensacola Beach is the best place to have some fun on the beach, and it’s a great place to find a home. You’re in the center of all the action, between the Blue Angels Beach Air Show, the Mardi Gras Parade and many, many other festivals and events, plus the convenience of living only a short, beautiful trip away from some of the best restaurants and bars in Pensacola. Pensacola Beach extends from Fort Pickens to Navarre Beach, however the commercial and residential areas are all located between DeLuna Point and the Santa Rosa Villa Estates. Beach properties in and near Pensacola Beach are highly coveted, meaning prices for homes

are typically high. Including construction of new houses some of the neighborhoods on Pensacola Beach, a new parking expansion is planned to be built on the beach to help alleviate traffic flow and spacing problems in the commercial district. Traffic can be an issue, but when you’re in the center of everything that’s happening, it’s not a problem to simply take a walk down the beach to get to wherever you need to go. The one thing missing is a good grocery store; you’ll need to go across the bridge into Gulf Breeze for any solid food shopping. Kick back and relax on the beach or join the party, either way Pensacola Beach is right for anyone who’s just looking to have a little fun.

Navy Point Population: 14.5K School Districts: Navy Point Elementary School; Warrington Elementary School; West Pensacola Elementary School; Myrtle Grove Elementary School; Warrington Middle School; Escambia High School

P

ENSACOLA HAS A LOT OF HISTORY, but Navy Point specifically has a lot of naval history. With NAS Pensacola resting right in the center of it, Navy Point is a haven for service members who work on the base, however it’s also a good place for anyone on a budget to find a comfortable home. NAS Pensacola has a lot of history itself, currently serving as the home to the U.S. Navy’s Flight Demonstration Squadron, the Blue Angels, and with homes in the neighborhood built in the late 1920s, you’re bound to find something interesting at every corner. Navy Point includes the entire peninsula surrounding NAS Pensacola and a few others neighborhoods, including Beach Haven and Old Hickory. With such an emphasis on the Navy in Navy Point, you would think it would only be for Sailors and their families. While many people who live in Navy Point are connected to the military, the low prices of the neighborhood make it a great place for those just

starting out to find an affordable home. The peninsula is within a short drive to both downtown Pensacola and the beaches on Perdido Key, with businesses and grocery stores just outside the peninsula for those who want to avoid the traffic of downtown. Other than the odd jet plane zooming overhead, Navy Point offers a quiet alternative to city life while still being close to everything you could want and with a view of the water that can’t be beaten. Business Climate 27


Welcome to the Neighborhood

Scenic Heights Population: 14.6K School Districts: Scenic Heights Elementary School; Cordova Park Elementary School; J.H. Workman Middle School; Ferry Pass Middle School; Washington Senior High School

T

UCKED INTO A CORNER OF PENSACOLA ALONG the beautiful Scenic Highway is Scenic Heights, a newer neighborhood where many Pensacola residents have hidden away. As one of the residential areas that sprouted up due to the opening of Cordova Mall and the proximity to the Pensacola International Airport, this neighborhood is one of the most suburban parts of the city while still being within city limits. Scenic Heights is located between Langley Avenue and Bonway Drive and Spanish Trail Road and Hilltop Drive. Although a smaller neighborhood when compared to communities nearby, it is a very populated area, with both rental and residential buildings aplenty within its limits. Since Scenic Heights is relatively new, the neighborhood has had continued growth and new construction for many years now and shows no signs of slowing down. Being so close to Cordova Mall and

the Pensacola International Airport means this neighborhood is within a short distance of one of busiest commercial districts in the city. While there aren’t really any shops to be found within the neighborhood proper, you’ll find anything you could possibly want in the commercial district nearby. There’s a small piece of paradise in the middle of the city just waiting to be claimed, so make sure to check out all that this neighborhood has to offer.

Nine Mile Road A

Population: 20.6K School Districts: Ferry Pass Elementary; Ferry Pass Middle School; Ensley Elementary School; Woodham Middle School; Escambia Westgate Center; Washington Senior High School Private Schools: BB C Christian Academy; Escambia Christian School; Pensacola Catholic High School

28 Business Climate

LTHOUGH NOT AN official neighborhood of Pensacola, Nine Mile Road has become a hotspot for residential and commercial development over the past few years, and it’s only set to get bigger. While downtown Pensacola and all the neighborhoods at the center of the city are confined by physical space, Nine Mile Road is where new communities can continue to expand. A part of Highway 90 and State Route 10, its name comes from its approximate distance to Garden Street, the heart of downtown Pensacola. Nine Mile Road is one of the cheapest places in the city to find a home, but also one of the most rapidly developing, with new and old commercial ventures, the

University of West Florida nearby and more than 1,000 residential properties, both houses and rental properties, under construction. The biggest development is the expansion of the Navy Federal Credit Union campus located nearby. More and more people are expected to flock to the area as the headquarters gets set to expand. Along with large corporations, thriving small businesses exist all along Nine Mile Road, including Goat Lips Chew and Brew and the famous El Asador taco stand. While Nine Mile Road may not be an official neighborhood, the communities growing around the road are some of the best for anyone looking to get in on the northward expansion of Pensacola.


Perdido Key J

Population: 29.4K School Districts: Helen Caro Elementary School; Jim C. Bailey Middle School; Escambia High School

Beulah

UST A SHORT DRIVE outside of Pensacola, you’ll find beautiful ocean water, sugar-white sand beaches and a lot of sun. Perdido Key is one the best beach towns around Pensacola, offering everything you want from a beach and just a short distance from all the city lights and shopping you could want. Discovered by the Spanish in 1693, Perdido Key was used by the U.S. Navy as the Gulf Beach Gunnery Range until 1954, when the beach was divided into around 700 lots. Perdido Key proper includes the barrier island south of Gulf Beach Highway, stretching 16 miles between Pensacola and Orange Beach, Alabama, though some recognize the Key as extending to the shores north of the island. As one of the most coveted real estate areas around Pensacola, house

prices can be very expensive, however there is a large range of property prices in and around Perdido Key. With more than 500 new homes planned, the Key continues to expand, however it remains at generally a low population density due to the large lots available. Want to do some shopping or looking for a restaurant for dinner but don’t want to drive all the way into Pensacola? Perdido Key does offer all the commercial businesses needed for everyday life while still keeping the beach town feel. Recently retired and looking for a beach home to while away the golden years of your life? Or maybe just looking for a vacation-everyday sort of house. Perdido Key is exactly where you’ll want to be.

Population: 37.5K School Districts: Beulah Elementary School; Beulah Academy of Science; Bellview Elementary School; Bellview Middle School; Pine Forest High School; George Stone Area Voc-Tech School Private Schools: Beulah Christian Academy; Pensacola Mennonite Christian School; Bellview Junction Academy

A

N UP-AND-COMING COMMUNITY JUST OUTSIDE of Penscola, Beulah is the biggest development surrounding the city. As a mostly residential area, the housing market has boomed recently as the urban sprawl of Pensacola continues to extend farther and farther north. Bordered by Interstate 10, the Perdido River and Elevenmile Creek, it includes large sections of major highways such as Mobile Highway and Nine Mile Road, creating for easy travel through the large area. The biggest development by far in Beulah is the Navy Federal Credit Union headquarters located off of Nine Mile Road. As the headquarters is set to open, more and more people are moving into the neighborhood, causing an upsurge in home construction over the past few months. With the huge developments from Navy Federal Credit Union, Beulah has a thriving commercial district in and around Nine Mile Road,

though the residential communities are much more prevalent. The increase in demand for homes in the area have driven up the housing prices, but there are communities within Beulah that offer affordable housing for those looking to move on a more conservative budget. Looking to move near to where the jobs are at with Navy Federal Credit Union? Beulah is your place. But it’s also your place if you are looking for a suburb near Pensacola that promises to continue growing and thriving. Business Climate 29


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Developing the Future

SCI building will be hub for community growth BY WILL ISERN

I

t’s a stormy Wednesday afternoon outside the ground-floor lobby of Pensacola’s tallest building. The rain battering the massive skylight echoes against the glass walls and barren tile floor. Though it’s empty now, the building’s owners envision the space as the central hub for the city’s thought leaders and community groups to exchange ideas and take action that will improve the lives of generations of Pensacolians. The building is the former SunTrust Bank tower at 220 W Garden Street. For the last 18 months, workers have labored over the tower’s 140,000 square-feet replacing its electrical, plumbing and air conditioning systems, and have scaled every foot of its twelve-story exterior,

cleaning surfaces and patching leaks. When the building officially reopens in April, it will be as the Studer Community Institute Building and it will be home to the University of West Florida Center for Cybersecurity, a PenAir Federal Credit Union branch, numerous businesses, a coffee shop, independent movie theater and an augmented reality observation deck on the ninth floor. The renovations are Quint and Rishy Studer’s largest ongoing project. The Studers purchased the building in April 2017 for $8.5 million and have spent $7 million fixing it up. Their goal, said Studer Properties president Andrew Rothfeder, is to transform a neglected downtown landmark into a hub for community advancement. »

ANDREW ROTHFEDER President of Studer Properties Business Climate 31


“There were two goals we had in mind when we saw and decided to buy this building,” Rothfeder said. “One was primarily we really wanted to buy the building just for this ground floor space to accomplish these (community) goals. But when we saw the building and saw the space and said this could work, we also saw this opportunity to take this iconic downtown building – it’s one of these buildings if you’re downtown, it’s huge, you can’t miss it, but it kind of disappears. So, with our mission to improve quality of life and being in the real estate business as a part of that, what an opportunity to take this building and turn it into what this community deserves.”

spearheaded local initiatives on early childhood learning, small business development and retaining local talent. The Institute’s community-focused CivicCon lecture series, annual EntreCon professional development conference and its numerous early learning initiatives have been hosted throughout Pensacola. A big part of developing the Studer Community Institute, said Rothfeder, is about giving all of those initiatives a home.

“We have these goals of small business growth, attracting and retaining our talent – which research has shown is absolutely critical to any town – and creating an environment where small businesses can thrive is a huge part of that,” From a real estate perspective, said Rothfeder. “Those people the Studers’ investment is more need training and development than financial, Rothfeder said. and tools and resources to While it is the case that the grow their small businesses, building will likely be fully so what we’ve done there leased come April, it may be is create a whole suite of decades before the project programming around small turns a profit. business development and training, CEO roundtables, “The keys for investment EntreCon, a whole series of in this building and what training and development we’ve done are someone who programming that SCI puts defines return on investment on. Of course, the other goal is as more than financial, and purely philanthropic which is very, very patient capital,” said our huge community mission Rothfeder. “Which is, ‘I’m of early childhood learning. So willing to do something and we wanted a place where that invest in something very high SCI training and development risk hoping and thinking that and CivicCon and the Center maybe in a generation it will for Civic Engagement – we’ve at least have made sense.’ And just been housing those that’s Quint and Rishy.” events at different places around town – where all of Already, the Studer that came together. We said Community Institute has we need a home for this; we taken up residence on the need a physical space where building’s ground floor. all of this happens, because For years, the Institute has it takes on an identity when 32 Business Climate

you actually have a place. So that was the goal, we wanted this to be a place where all of our community solutions, all of our community ideas and brainstorming are happening where it develops a brand to where this is the place you want to come to talk about your ideas to move this community forward.” The Studers have long sought to create a community center devoted to entrepreneurship in Pensacola. They tried in 2015 to build the UWF Center

for Entrepreneurship at the Community Maritime Park but were stymied by former mayor Ashton Hayward’s administration. The Center was instead opened on the university’s campus. The newly renovated SCI building, said SCI chairman Chad Henderson, will fulfill the goal of creating a similar resource for the public in downtown Pensacola. “I think that building will be a great epicenter to come together, to exchange ideas, to

The lobby at the Studer Community Institute will feature a coffee shop, Pen Air Federal Credit Union Branch and ample room for networking.


The ground-floor meeting room in the Studer Community Institute building has space for up to 100 people. The Studers plan to make the space available to community groups and neigbhorhood associations for free.

listen to subject matter experts, to move forward personally and professionally, to help strategic initiatives like early learning and to help better the overall living environment of downtown Pensacola,” said Henderson. “I think it’s a great epicenter to do all those things.” The reimaging of the SunTrust building continues the trend of redevelopment that has swept downtown Pensacola in the last decade. One of the largest such projects to date, it is also one of the few to take place off of the Palafox Street corridor. While residential development has quickly spread to neighborhoods like Belmont-DeVilliers and the lettered streets from A to E, commercial development has been slower to venture from the heart of downtown. The Studers have sought to push development westward with the development of the DeVilliers Square building, the Maritime Place building at the Community Maritime Park, a forthcoming apartment complex in Belmont-DeVilliers and an ongoing attempt to convert the former Escambia County School District property at 215 W. Garden Street into an apartment complex. The Studers also own the massive former ECUA property just north of the Community Maritime Park.

“We love the fact that it’s sort of the next step of things headed west,” said Rothfeder. “Everything’s sort of happened on the Palafox corridor, we’ve done some stuff just east of the Palafox corridor, it’s like, where’s the west side love? Because we feel like that’s the next logical place; it’s time for things to start moving westward. We thought this was the perfect spot to start to pull some of downtown’s traffic this way.” Back in the lobby, a week after the rain had stopped, community leaders including Mayor Grover Robinson met with urban planners and landscape architects to discuss how to better connect the city’s waterfront assets to its neighborhoods and bustling downtown. They envisioned a future where the public could travel unhindered from Bayou Chico to Sanders Beach to Bruce Beach to Maritime Park and the foot of the Pensacola Bay Bridge. As the group batted ideas about bike paths and kayak launches back and forth across the ground-floor meeting room, it was clear: the new Studer Community Institute building is already serving its purpose. •

Business Climate 33


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Naval Air Station Pensacola (NASP) honored Chiefs from ners of war members clascircuits of onboard POW/MIA on page 2 the sacrifices of service members and their families ice ers carries adron-sponsored ) courtyard red to walk or run order to keep sified as priso er, said the somber occasion bank. Chie the latest Culinary Sept. 27 as part of the nationwide program Bells (NATTC Since 1936, the last Sunday in in Squ ntee 00 U.S. serv Across America. (Above) DC3 Sammy Cohen fs (E-7 to Training ing Center members volu t. 21, taking shifts hell pres- served not only to recognize the than 82,0 ents thegflag as bell ringer AN Cole Spaid, officials E-9) from Specialist Submar nical Train By Ed Bark and participants look on. Photo by Mike O’Connor every ratin ine s service , providin Greg Mitc 3 p.m. Sep Air Tech ems Corp by gh family to er ine members syst g are need AERR prepare of those throu left Mar t. Pho See Bells on Nava e while response page questions 2 ation ed for AER Sept. 20 l Educ our even Navy and for their holes in our services for all thos Rs. from 3 p.m. and Train for the 24-h the Prof on rating exam fill essio “Ou moti ing courtyard and in base r recent NCM nal Developm /MIA flag mander, y quality of base.” (NETPDC IS upgrades the latest the POW der, Nav a higher ) Public Affai ent Center is a Com the man s, upda include datard ario Com tes to man rs d scen Lt. the Developmen Bill, inclu John Laughrey ssed they are onbo event, CNIC and uators asseBy d (CNIC)now at 35 years. Every session of the exposure real-worl ding onlin the Post-9/11 GI t Center said. Comman the to people that have different a Warfare Training Command eval possible ) Information As ing e ions ugh of Every ackn Saturday Here RSE Dur part Tran starts allat off with the men- of the owle program typically draws between sferability are bilities thro theast (CN Navy Inst tion event. experiences and open their eyes to a tor having breakfast to idens Public Affairs software used to supp of Educatio dgement the NCM three things to Corryiciou Station SOU and (TEB) requ onse capa ding susp we need at the school. Region Sou ifica back resp Once know 40 to 60 staff n time cert and ort cy IS bone students agre Ben and and ed irem enha the the abou efits es to the , whole new world of possibilities the kids arrive, they functiona ents; Imp s us t ther instr t Reagh syllabus tests, inclu ’s emergen 1. Updated ncements: statement. 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U.S. Birthday Navy Ball .... The 243rd U.S. Navy Birthday Ball will be held Oct. 13 in bers the National Naval Aviation Museum onboard NAS service mem Pensacola. l Air StaNavy battle “Forged By The Sea” is the theme for 2018’s gala with ard Nava of the U.S. end, held6onbo p.m. cocktails members At series’and a 7 p.m. dinner. Attire is dinner dress whites ... ServiceSoftball Championship of(military) service. ell tie ches andMitch ionship black es equivalent (civilians). Hosted by Training Air os by Greg ll champ Men’s Armed Forc of teams from all bran r. Phot Wing Six Command. For more, go to https://www.facebook.c ists ts softba took silve the 2018 om/ Air Force ament cons s during pensacolanavyball. and NASP hos tourn Corp For tickets, go to https://www.accelevents.com/ -day Marine pions; Navy P). The three of the U.S. events/PensacolaNavyBall. ned cham receipt acola (NAS team were crow t Reagh NASP’s ugh s tion Pens nal By Ens. Scot off a thoro Marine Corp in the Natio ’s acola the U.S. Flu vaccines award caps command’s Oct. 13... Flu vaccines NAS Pens the will be heldforthe theme for 2018 are available at Naval Hospital Pensacola rs review of beneficiaries Birthday Ball The (NHP) a panel of Sea” is TRICARE Public Affai and black over the age of 6 months. Beneficiaries Navy by tary) on U.S. By d icati enrolled 243r to (mili Family Medicine “Forged orw. Internal Medicine should visit their team to s whites demy appl park and recreation Ball .... The NAS Pensacola. is dinner dresreceive to https://ww rican Aca a e go gvaccination day Navy without ll. an appointment Monday through Friday onboard The Ame d. For morflusaco er. Attire U.S. Birth eation five ssionals, each reco e laNavyBa 8 a.m. tion Museum and a 7 p.m. dinn Wing Six Comman from /Pento 3:30 p.m. Beneficiaries not enrolled to a Medical Home Port and Recr experienc m/events Air tails Naval Avia for Park PRA) profe the Pediatrics by Training 6 p.m. cock celevents.co Team or enrolled toover ration (AA Na- nized for their recreation the age ofClinics can receive the flu vaccine at the gala with (civilians). Hosted to https://www.ac Administ Immunization n Friday from 8 a.m. ficiaries Monday t through parks and go hip with the nal to 4 p.m. PaARE bene Clinic a flu vaccinatio TRICtients tie equivalen yball. For tickets, Park in in partners l and natio enrolled to receitovea NavalHom (NHP) for Branch e Port Heath Clinic should contact their clinic to eation and both loca lanav team ital Pensacola should visit their /pensaco tional Recr (NRPA) an- on a Medical of the 8 check to com on Hosp the availability l lled from vaccine. ook. NHP is holding a Drive-Through s. enro faceb Friday ble at Nava ies not nal Medicine throuatghthe Association al Air Station level P was one of four Flu Vaccine Clinic hospital Oct. 13 from 8 a.m. to noon. For more, ines are availaly Medicine or Inter 3:30 p.m. Beneficiar Clinic Monday of the vacNAS to award, ... Flu vacc availability . unization call 505-6257. to Fami nounced Nav SP) as the for the y from 8 a.m. 505-6257 check on the at the Imm Flu vaccines ficiaries enrolled (NA al finalists through Frida ve the flu vaccine contact their clinic to to noon. For more, call Bene ine Corps Pensacola day Med ths. Mar Mon mon out recei ld 6 onal Gold e in edging Clinics can appointment (MCAS) Fire Prevention Week is next week (Oct. 7 to 13). This h Clinic shou ital Oct. 13 from 8 a.m. 2018 Nati year’s theme is without an lled to the Pediatrics Naval Branch Heat Station Excellenc sthe hosp a “LOOK. LISTEN. LEARN. Be aware. Fire can happen anywhere.” Award for eation Man- Air uni, Japan; Port ine Clinic at Team or enro Patients enrolled to For a mesin Recr ugh Flu Vacc sage from Fire & Emergency Services Gulf Coast, see Gosport Park and Forces Iwakth Naval Shipyard a.m. to 4 p.m.holding a Drive-Thro page A2. (Armed is agement Sept. mou cine. NHP n category) anon page 2 Recreatio See Gold the NRPA a25 during Indi in erence nual conf

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The fligh t deck of storied aircr Aviation Museum aft carrier . Pho NAS Pensacola Commanding Officer Capt. Christopher USS Nim Martin (center, seated) is joined by mili- to courtesy of itz will soon NNAM tary and community leaders as he signs a proclamation greet visito recognizing October as Domestic Violence rs at the Awareness Month. Photo by Mike O’Connor National

U.S. Birth day be held tomo Navy Ball .... The board NAS rrow, Oct. 13 in the 243rd U.S. Navy Birthday Ball gala with Pensacola. “Forged National Naval Avia 6 tion Museum will By The Sea” whites (mili p.m. cocktails and onis the them a Naval e for 2018 ing Air Wingtary) and black tie 7 p.m. dinner. Attir ’s equivalen t (civilians e is dinner dress com/pensaco Six Command. From Male ). For more lanavyball go to https Hosted by Trainrie Shelton com . For ticke /events/P Naval Avia ://ww ts, ensacola tion Mus nuclear-powe NavyBall. go to https://www.acw.facebook. eum Foundatio celevents. n Flu vaccines and lead ship red aircraft carrier ... Flu vacc ed by vario of her class (NHP ines ) be done in regard to stopping for The 200us shades are TRICARE The National foot flight . of gray. beneficiaries available at Nava enrolled to As one lica will be deck repdomesticMus l Hosp violence of Naval Fami and abuse over allAvia comprised representation the largest-scale receive a flu ly Medicine or Inter the age of 6 mon ital Pensacola together.welc eum (NNAM) will tion than 600, of more s of an from 8 a.m. vaccination without nal Medicine shou ths. Beneficiaries three-foot carrier ome mus soon aircraft ld visit their an to eumtovisit “It is aextremely critical un-ors with foot tiles and mor -by-three- visit flight deck in the team to Team or enro 3:30 p.m. Beneficiar appointment Mon custom-desig world, ors day through derstand that domesticned replica fligh individual piec e than 1,000 walk will see what it is Immuniza lled to the Pediatrics ies not enrolled to a deck of the USSviolence es like to tion Clinic Medical Hom Friday and abuse not just physical, Nimitz (CV t colors that matc in various one across the flight Monday throuClinics can receive holding a e Port 68). isThe the deck Drive N h of gh the -Thro of Frida Ame mark 8,800-sq but it viny realoften is extremely ugh y from 8 a.m. flu vaccine at the rica’s mos 13 from 8 ings on emouare-foot l-tile a.m. to noon Flu Vaccine Clinic t recogthe supercarrlife nizable sym ship. Nim tionaltured ing Lauat the hosp to 4 p.m. NHP is and mentalfloor bols . For more as well,” ier ing itz’s catap be feaital tomorrow , call 505-6257 along the will machinery. of peacekeepNAS Pens rie Darmofal, , Oct. victimeast . advocate side of the ing gear, jet blast ults, arrestmuseumalobb acola FFSC “We are defle Family Supp TAP Job Fair hatches and y – aAdvoca(VA) with the Family very excit ctors, this tribute to ort Center tomorrow ed to add hundreds impressiv (FFSC) will (TAP) Job Oct. 12 ... cy Program at NASP Fleet and the craft padeyes of aire be Fair exhi holdi NAS today, Oct. bit to the ng a Trans are all repre Bldg. 741 12 at 10 ition Assis P Fleet and Family Support Center (FFSC) sent(off active duty, Farrar Rd). The TAP a.m. to 2 p.m. in the tance Program See Nimitz Job reser TGPS Class on page 2 For more inform vists, guardsmen Fair is open to all servi room See DVAM on page 2 ce members , ation, call 452- , retirees, spou ses and on 7788 or e-ma il NASP_TA family members. MP@NAV Y.MIL.

USS Nim itz e Natio flight deck Domestic Violence Awarenessth flo nal Nav Month al Avia or replica at recognized onboard NAS Pensacola tion Mus eum By Ens. Scott Reagh resolve and commitment to NAS Pensacola Public Affairs

October is Domestic Violence Awareness Month (DVAM) and onboard Naval Air Station Pensacola (NASP) Commanding Officer Capt. Christopher Martin signed a proclamation during the third annual Community Response to Domestic Violence ceremony Oct. 2, addressing the Navy’s firm

ending domestic violence and abuse amongst Sailors and their families. Domestic Violence Awareness Month recognition onboard NASP began three years ago and was designed to honor important individuals both on and off the base who have done incredible work helping victims of domestic abuse. The ceremony and signing also highlight that there is still much work to

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Published by Ballinger Publishing, a private firm in no way connected with the Department of the Navy. Opinions contained herein are not official expressions Pensacola or Ballinger Publishing’s endorsement of the Department of the Navy nor do the advertisements of products or services advertised. constitute Department

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Photo by Guy Stevens

COMMERICAL REAL ESTATE OUTLOOK 2019 by DeeDee Davis CEO, NAI Pensacola

Every one of us has an interest in the real estate market, whether we realize it or not. You may not be an investor, but you certainly live somewhere. If you own your home you care about the value of your property and the cost of repairs and renovations. If you don’t own, it’s usually because you either aren’t in a position financially or you have chosen to rent. Both options have advantages and disadvantages. I took the leap of interest in real estate when I first bought a home. Things that I never even paid attention to before now suddenly consumed me. Interest rates. Choosing a lender. Price per square foot. Choosing the right real estate agent. And I am just getting started. The housing market in the Pensacola region remained strong throughout all of 2018 and looks as though it will continue. Downtown availability is limited and prices continue to rise, making apartments a strong option to consider. The national trend concerning home ownership is really interesting, as millennials are drawn to leasing versus owning. They want to be able to pack up and leave for a few days and not worry about cutting the grass or wrapping water pipes. Apartments offer a type of freedom that ownership does not. Ownership is truly an investment that done wisely can generate long term financial rewards. » Business Climate 35


Trying to forecast what the real estate market will do is much like predicting the outcome of a football game. Anything can happen and crazy things do happen. However, like the Vegas oddsmakers, certain factors are carefully weighed and then you throw the dice. In football you consider individual size, past performance, physical condition and team support. In real estate, you look at historical trends, comps, demographics, and political climate. So, as we look into our crystal ball to see how the market will behave in 2019, keep these things in mind. The world of retail is in a state of flux. Amazon has changed the face of shopping forever, causing major market shifts. Big boxes, like Sears, are being repurposed for warehouses of online inventory. We are lucky in Pensacola because we have a good balance when it comes to retail. Downtown is a destination for more localized shops, which are in big demand for tourists and street traffic. The more “individualized” a city can make itself, the more popular it becomes as a destination. Palafox did not get recognized as one of the top ten streets in the US because of chain stores and franchises. Coffee shops, boutiques, luxury retail, local restaurants and bars and other unique concepts are the draw. Local government is responding by assessing parking, walkability, and aesthetic improvements to enhance the experience for shoppers and visitors. The growth will continue throughout 2019 with lease rates continuing to increase throughout downtown. 36 Business Climate

If you are considering selling this year, here is a bit of advice. Be realistic on pricing. Many agents will oversell the value to you in order to get the listing. Choose a reputable agent who will show you comparables and explain market trends to you.

The Cordova corridor will continue to attract smaller and mid-sized franchises that mushroom around successful malls. Premium rates are charged here as there is little open space remaining. Any business associated with healthcare will thrive in 2019. An aging population, outrageous obesity statistics, and growing health awareness of the millennials are the driving factors. Spend

an evening watching the Hallmark channel and observe what products are the focus of the advertisements. Good luck seeing an ad that doesn’t have anything to do with healthcare. We experienced several years where individual medical offices closed faster than any other segment of the market as the big hospitals bought up smaller practices, making them part of a conglomerate. Now we are seeing a proliferation of specialty centers, particularly urgent care centers. Again, part of the corporate healthcare giants, but necessary, nonetheless. Hopefully, you haven’t had the need to visit an emergency room lately. I just hope you aren’t in a hurry for care once you get there. While corporate “care” continues to usurp the industry, adjustments have to be made for at minimum accessibility. Watch for an evolution in healthcare once patients rise up in protest for personalized care. The Nine Mile Road area is exploding with growth. Commercial rates are still reasonable in the area, but not for long. Even residential costs are experiencing significant growth. Nature’s Trail residential community was ahead of its time and was almost “country” when it began. Not so now. Navy Federal Credit Union has changed the landscape of that part of Escambia county, so much so that eventual incorporation could be on the horizon. Interest rates continue to inch up ever so slightly, but certainly impact the market in many ways. Buying will

slow down and sellers, out of frustration, will be forced to adjust prices in order to compete for limited dollars. If you are considering selling this year, here is a bit of advice. Be realistic on pricing. Many agents will oversell the value to you in order


COMMER IC A L R E A L E S TAT E OU T LOOK 2 019

The Servis 1st Bank building on Garden Street is among several new Class A office buildings in downtown Pensacola.

Photo by Guy Stevens

to get the listing. Choose a reputable agent who will show you comparables and explain market trends to you. Location of a property is paramount, but with fair pricing, most property will move. Some have unique challenges, requiring extra time to sell. But the standard is that the longer it

is on the market, the more chance that interest in it will wane. Price accordingly. Once you list the property, communication is critical. Your agent should share activity with you, but this is a two-way street. Tell your agent upfront what kind of reporting

you would like. Weekly? Monthly? Email? Phone call? In conclusion, we have not experienced the highs and lows that many cities face with their real estate. But there is nothing wrong with even stability. Pensacola continues to be a good place to invest

and a good place to live and do business. Hot pockets in 2019 will be downtown, Cordova and Nine Mile Road. All have unique community character and plenty to offer. • DeeDee Davis is a commercial Realtor with NAI Pensacola specializing in office, retail and investment properties. Business Climate 37


Demand for rental units near downtown has never been higher. The Southtowne Apartments were fully leased within weeks of opening.

38 Business Climate

Photo by Bara’ah Jaraiseh


RESIDEN T I A L RE A L ES TATE OU T LOOK 2019 by Eric Mil s tead

S e n i o r R e s i d e n t ia l R e a l E s t a t e B r o ke r w i t h F l o r i d a ’ s To p Pr o p e r t i e s

Northwest Florida experienced a surge in home sales in 2018 and is set for another record year. As the population of Escambia and Santa Rosa counties continues to grow along with the new and higher paying jobs coming online on a constant basis, the housing market will feel the impact with increased pricing and lower inventory of available homes. The entrance of young entrepreneurs returning to and staying in Pensacola with the desire to invest in the community will drive growth and retain our young talent

that will need housing. The desire to live, work and play in a beautiful coastal town that has offerings from festivals to opera has made the the area a destination buyers want to come to regardless of employment. The trend of buyers choosing a destination to live and then finding employment in the area has become quite popular with new residents moving to the area. In addition, many remote workers are choosing the area because they can work from anywhere, so they land in the Panhandle because of the great quality of life.

Many types of housing are in high demand in the the two county area. New construction, move-in-ready fully renovated, rental and downtown homes top the list for many home buyers in our community. Of course location balanced with affordability still top the list for most buyers.

housing with deposits and signing leases site unseen, a practice we only see in a very tight market. Increased wages and availability of jobs has motivated younger tenants to move out of the nest and express their indepedence, another driver of the tight rental market. As a result of the tight market and sharp rise in rental rates, more tenants are making the move to home ownership. Average rent in Pensacola will afford a buyer a starter home in many popular neighborhoods. Coupled

Demand for rental units is at an all time high in the Pensacola Metro area. The average rent range for apartments is $733 for a studio, $1,120 for a three

bedroom according to RentCafe’. The average rent for studios, one and three bedroom units has stayed about the same over the past twelve months while two bedrooms units have drawn an average of a three percent rent increase. Inventory of available rental properties is at an all time low. Move-in-ready nicely maintained homes and apartments in a desirable location average just a few days on the market. Many potential tenants moving from out of town are securing

with a first time home buyer loan program that does not require a down payment, a starter home can be purchased for less than the price of an apartment. A lack of rental inventory and higher rents will continue to push the sale of homes in 2019. The urban core of Pensacola and close proximity to the downtown core continues to enjoy high demand and one of the highest per square foot prices in the region. Homes and condos are selling for close to $300 per square Âť Business Climate 39


Source: RentCafe

Demand for rental units is at an all time high in the Pensacola Metro area. The average rent range for apartments is $733 for a studio, $1,120 for a three bedroom according to RentCafe’.

foot for upscale properties within blocks of the Palafox Place corridore. Growth to the west of the Palafox corridor has quickly progressed with infill housing selling for $150 to $175 per square foot. The completion of the new Corrine Jones Park, the success of the waterfront stadium and the waterfront amphitheater have made the area to the west of Palafox a nice option for home buyers.

40 Business Climate

The opening of Bruce Beach and the potential development of the old ECUA property will continue to attract buyers to this area. An upswing in attached townhome living has emerged downtown offering more amenities like garages for a price lower than a single family home. Attached living offers the convenience of living downtown without the maintenance of a single family home. These type of

properties will continue to grow in demand as many buyers are looking for low maintenance living options. Downtown living is currently attracting buyers of all ages. From growing families to empty nesters, demand is high among those who want to be close to the many events and activities downtown has to offer. As we continue to see the growth and success of the entertainment district of downtown Pensacola and the desire of many from all age ranges to live in a walkable viberant area, the downtown demand for housing will continue to be strong. According to Zillow the average listing price in the area is $224,000 for a single family home. In addition we have seen interest rates drop below 5 percent over the past 60 days. At 4.5 percent APR on

a 30 year fixed rate loan with a 20 percent down payment, principal and interest on the average listing price would be $908 per month. This gives the homeowner a payment well below the average rent for the area. Interest rates are positioned to be raised approximately a half of percent over the course of 2019. This raise would increase the principal portion of that payment by approximately $75. We will see pricing balance with the interest rate increases. If rates do increase it will likely put pressure on those considering buying to move forward and make a purchase. Rate increases can also discourage sellers from moving if they feel it’s not worth paying a higher interest rate on their new home loan. If sellers decide to stay put, we will see lower inventory as well.


R E SIDEN T I A L R E A L E S TAT E OU T LOOK 2 019

Source: RentCafe As interest rates climb, prices will stabilize and have less room for growth. At this point a modest 3 to 5 percent increase in home values across the board is very possible. Higher increases in value can be expected in high demand areas with low inventory. The growth in population and low unemployment will continue to drive the housing market in 2019. North Escambia County will continue to be the area of greatest growth with the highest concentration of new homes being built. New homes start at $196,900 for a three bedroom two bath home with approximately 1,500 square feet of living area. Homes are mostly being built on smaller “patio” size lots. Smaller lots attract buyers that want less yard to maintain. Building on smaller lots also keeps

the price more affordable. With the continued growth of the Navy Federal Credit Union complex, the progress on the Beulah Beltway, and the convenience of the I-10 corridor, the area north of Nine Mile Road will remain a desirable option for many home buyers. Pensacola has become a destination for many to live, work, and play. Pensacola offers theater, opera, ballet, minor league sports, art galleries, a historic village and great festivals. In addition to a thriving entertainment district. The big town activities with a small town feel attracts and keeps people in the area. With the addition of many new jobs, our area will continue to grow, pushing the need for additional housing units.

Northwest Florida is set up for another record housing year in 2019. Rentals, new construction, and existing home sales will all be in high demand. Interest rates are still low enough to support prices and makes homeownership affordable for most. Population growth, low rates, a strong economy and more first

time home buyers entering the market will support a strong year for the area housing market. • Eric Milstead is the Senior Residential Real Estate Broker with Florida’s Top Properties. He has helped buyers and sellers with their real estate needs for over 20 years.

North Escambia county will continue to be the area of greatest growth with the highest concentration of new homes being built. New homes start at $196,900 for a three bedroom two bath home with approximately 1,500 square feet of living area. Business Climate 41


AROUND THE REGION Governor Ron DeSantis Announces the Appointment of Clay Ingram as CEO of Volunteer Florida Governor Ron DeSantis has appointed Clay Ingram as CEO of Volunteer Florida. “I am happy to announce the appointment of Clay Ingram to lead our state’s volunteer efforts as CEO of Volunteer Florida,” said Governor DeSantis. “Between his leadership in the Florida Legislature and his advocacy for the Pensacola community, this was an easy choice. I know Clay will make Floridians proud and lead the agency with the utmost integrity.”

Clay Ingram is a Pensacola native, having served in the Florida House of Representatives from 2010 to 2018. In addition to his legislative duties, he has also served as President and CEO of the Greater Pensacola Chamber of Commerce since 2015. Very active in his community, Clay is a member of Gonzalez United Methodist Church and serves as a board member for Big Brothers Big Sisters of Northwest Florida, United Methodist Children’s Home of Northwest Florida, Achieve Escambia and the Florida State University Alumni Association. He graduated from FSU with a bachelor’s degree in general communication in 2000.

Mississippi Blues Trail Honors Belmont-DeVilliers The Mississippi Blues Commission honored the legacy of the Blues in Pensacola, Florida with the unveiling of a Mississippi Blues Marker - part of the Mississippi Blues Trail. In 2003, the Mississippi Blues Commission was created to promote the understanding of blues history, primarily by installing Mississippi Blues Trail markers across the state to identify significant contributions to the Blues’ musical heritage. In 2006, the first handful of markers was installed. Now there are just over 200 markers, giving blues fans - or casual travelers - a scavenger hunt of music history. The sites run the gamut from city streets to cotton fields, train depots to cemeteries, radio stations, historic homes and clubs to churches and cover most of Mississippi along the Delta, reaching out of state for an additional 16 reaching from Chicago, Illinois to Pensacola, Florida. The Pensacola marker, Marker No. 203, will be the second marker recognized in Florida. Jim O’Neal is research director and lead writer with the Mississippi Blues Trail historical marker project and a founding editor of America’s first blues magazine, Living Blues. His articles and photographs have appeared in Rolling Stone, the Chicago Tribune, the New York Times, Down Beat, and many other publications. Additionally, he has helped organize a number of blues festivals in and has worked as a record producer, film consultant, and tour guide O’Neal has been chairman of

42 Business Climate

the Blues Hall of Fame selection committee for the Blues Foundation in Memphis since being inducted into the Blues Hall of Fame in 2002. The Belmont DeVilliers Neighborhood applied to the Commission for a marker based on the rich musical history of the neighborhood spanning a number of decades. Once the application and documentation were submitted, the application went before the Commission for consideration. Once the Commission determined the significance of the site, the application was then turned over to scholars for further research and documentation. After the year-long process, the Commission voted unanimously for a Blues Marker at the intersection of Belmont DeVilliers. The marker will recognize Pensacola, as an important early center of blues, ragtime, vaudeville and jazz activity, which developed into a regional cornerstone of the “chitlin’ circuit” in later years. Touring blues, jazz and rhythm & blues acts and local bands found a welcome base here in the Belmont-DeVilliers AfricanAmerican business and entertainment district for several decades. Mississippiborn performers such as B.B. King, Junior Parker and Sam Cooke contributed to the vibrant nightlife in the neighborhood’s theaters and clubs. The Belmont DeVilliers neighborhood served as a stopping point for touring musicians and a place where local musicians could develop. Additionally,

The marker also recognizes the work of those in the neighborhood that help to foster the growth and appreciate of the blues through their commitment to the neighborhood including Gussie Streeter of Gussie’s Record Shop and Abe Pierce Sr, of Abe’s 506 and Savoy Ballroom. The ceremony will featured a dedication from the Director of the Mississippi Blues Commission, Kamel King, Sentor Terry Burton (MS), Mayor Grover Robinson, County Commissioner Lumon May, Steve Hayes of Visit Pensacola, and Eddie Todd of Belmont-DeVilliers Neighborhood Association. Additionally, neighborhood leaders will be recognized including Gussie Streeter of Gussie’s Record Shop (currently Five Sisters Blues Café), the Pierce family (Abe’s 506, Savoy) and many more. At the conclusion of the dedication and unveiling, the Belmont All-Star band will perform a live music jam session at the intersection featuring performers from the past including Vivian Lamont, Earnest Stanberry and others. The Pensacola Blues marker is located at the corner of Belmont and DeVilliers streets. This is at Five Sisters’ Blues Café, the former site of Gussie’s Record Shop and the historical African-American business entertainment district. The entire Mississippi Blues Trail is self-guided and available on an app as well as in a printed version and on Google Maps.


AROUND THE REGION Hayward Named Andrews Research & Education Foundation President Ashton J. Hayward, III begins serving as president of the Andrews Research & Education Foundation (AREF) effective January 7, 2019. The leadership of AREF selected the former Pensacola mayor to direct the AREF’s efforts to fulfill the mission of being an international leader in bringing new and groundbreaking solutions to sports medicine through research and education. “Hayward’s visionary leadership and resultoriented mindset will help AREF continue to advance the prevention, treatment and rehabilitation of athletic injuries and enhance human performance and quality of life for people of all ages,” said James Andrews, M.D., founding partner and president of the AREF Board.

Hayward joins AREF from the City of Pensacola where he served as mayor for the past eight years. “I am honored, humbled and excited to take on this role with the Andrews Research & Education Foundation,” said Hayward. “I deeply believe in the Foundation’s mission to help improve the quality of life for people and professionals all over the country. I look forward to ensuring that AREF is the definitive destination for advancements in sports medicine.” In addition to leading edge research and evidence-based education, AREF supports doctors and scientists through fellowships, scholarships and grants. The Foundation also facilitates the Eagle Fund, an important

program providing world-class care to hundreds of America’s special operations warriors who have been injured. As mayor, Hayward managed a city staff of nearly 800 team members and a budget of more than $200 million. Hayward’s guidance was integral in economic development initiatives that have created a culture where businesses can grow and thrive in Pensacola. His advocacy efforts with community and state partners resulted in streamlined operations, reduced crime and improved city services. Prior to serving as mayor, Hayward worked in New York City for AT&T Corporation and the Financial Times.

Andrews Institute Welcomes Orthopaedic Surgeon, Anthony J. Brothers, M.D.

FloridaWest Welcomes Jeff Dyer Director of Workforce Innovation

Andrews Institute for Orthopaedics & Sports Medicine is proud to announce that orthopaedic surgeon, Anthony J. Brothers, M.D., has joined its team of experts. Dr. Brothers will continue to serve patients in the Crestview, Destin, Fort Walton Beach, Navarre and Niceville communities. He has clinical interests in sports medicine, orthopaedic trauma, joint replacement surgeries and minor hand and wrist procedures.

FloridaWest is pleased to announce our new Director of Workforce Innovation, Jeff Dyer. In his role, Jeff will work with employers in our region to help recruit and create a welltrained, diverse, target industry workforce to attract new employers to the community, meet the skills-training needs of our residents and support existing industry as out-lined in the FloridaWest/PEDC Five-Year Strategic Plan.

Dr. Brothers earned his medical degree from Uniformed Services University of Health Sciences in Bethesda, Maryland, and completed his internship in general surgery at the David Grant Medical Center in Solano County, California.

Jeff Dyer is originally from Baxter, Tennessee and a graduate of Wayland Baptist University where he received his degree in Corporate Training and Development. He has more than 20 years of workforce development and personnel/human resource management experience. Jeff comes to us from CareerSource Escarosa where he was the Program Manager for Business Services. In this role, he assisted local and regional businesses with their Workforce Development and Human Resource needs. Prior to his promotion to program manager, he held several positions at CareerSource Escarosa including Business Services Representative and Instructor of Employability Skills Workshops. Jeff has also

As a member of the United States Air Force, Dr. Brothers became a flight surgeon at Cannon Air Force Base in New Mexico, and then completed his residency in orthopaedic surgery at University of California, San Diego in San Diego, California. During his 24 years in the Air Force, Dr. Brothers served as Chief of Orthopedics as well as Chief of Surgery, was deployed to Afghanistan twice and received two Army Commendation Medals.

been a Training and Development Manager for two large manufacturing companies. Jeff also served 22 years in the United States Air Force as a Signals Intelligence Analyst/ Manager. In addition to his stateside and overseas duty station assignments, he spent 8 years as an instructor and instructor supervisor at the Joint Service Signals Intelligence Analyst course at NTTC Corry Station, Pensacola. He is married to his high school sweet-heart and has two sons, one of which lives in Pensacola while the other lives in Texas. Jeff enjoys golfing and outdoor activities. “Workforce Development is often the number one factor when businesses choose to locate in a community or expand their existing operation,” said Scott Luth, FloridaWest CEO, “ FloridaWest is excited to have Jeff Dyer joining us in that pivotal role. With our partners CareerSource Escarosa and Achieve Escambia, he will work with employers to understand their resource needs and connect them with available training, education and employment programs.”

Business Climate 43


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ON THE MARKET A Real Estate Section

3 Tips to Create Your Dream Closet Page 54

In This Section By the Numbers: A Looks at December’s Market Highlights page 46

Add a bathroom to an ‘impossible’ space to catch home buyers’ attention page 53

5 ways to create an inviting room using tile page 48

4 Steps for DIY Paint Project Success page 56

Business Climate 45


BY THE NUMBERS

A LOOK AT DECEMBER’S MARKET HIGHLIGHTS $198k

Median Sale Price

69 Avg. Days on Market

Monthly Sales

650

2050

Quarterly Sales

MARKET HIGHLIGHTS December sales slipped two percent from November and 14 percent from last December. 46 Business Climate

Fourth quarter sales were down four percent compared to the same period last year, however total sales for 2018 were up four percent over 2017.

At $198,900, median sale price continued to hover around the $200k mark.

Average days on market (DOM) edged up four days to settle at 69 for the month..

There were 175 pending sales at the end of December.

Information courtesy of Pensacola Association of Realtors


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5

ways to create an inviting room using tile

Today’s tile trends extend so far beyond their traditional use as a staple of bathroom design that you may not recognize them. While once the most attractive and innovative tiles had to be imported, contemporary handcrafted tile and stone products for home design are now being made right here in the United States. Homeowners and interior designers alike are always seeking distinctive visual touches to make each home special. Here are five ways tile design can enhance a room. Elevate small spaces. Use tiles interchangeably to create a unique design. The Ann Sacks Radius Collection by designer Barbara Barry has five distinct modular designs that can be used independently, or combined to create patterns to delight the eye. Creative use of a variety of tile shapes like these can easily elevate small spaces such as baseboards, fireplace surrounds or backsplash areas in a kitchen. Make a color statement. Whether you choose a single color or mix colors to create a pattern, the choices can overwhelm. “I enjoy the soft juxtaposition of watery blue tones, soft green tones and the neutral colors of gravel,” explained Barry. While Barry is known for her love of soft colors, you may choose colors that best complement elements already in the room. If you’re not working with a designer, consider traditional complementary color pairs when making decor choices, such as red-green, blue-orange or yellow-purple.

48 Business Climate

Create a calm mood. The latest trends in interior design reflect the desire for homes to be sanctuaries. Inspired by the clean lines, appropriate scale and exacting proportion prevalent in Midcentury Modern architectural design, Barry describes her collection as “soft modern, defined by a curved edge for a sensual feel,” Barry adds. “In this busy world, I want to come home to calm rooms and quiet spaces.” Choosing colors, lines, shapes and scale with simplicity in mind can help contribute to a feeling of calm. Personalize your space. Find what appeals to you, and work with a designer or manufacturer who can meet your requests. In her collection, Barry provides tools for consumers or designers to customize patterns. Designed to spark the imagination, five distinct patterns in varying scales punctuate interiors with personality. Smaller manufacturers can personalize your project with their flexibility, customizing color choices and resurrecting a retired pattern or color, or even by recreating tiles present in a home refurbishing or renovating project. Make your space your own. Create visual interest. Choose different textures through materials like wood, glass or tile to break up an otherwise ordinary surface

in a room. Radius is available in all Made by Ann Sacks matte and gloss colorways, which can be installed as a singular color statement or mixed to evoke a unique, personalized design, whether to create a captivating statementmaking wall or to cover an entire floor. The choice of tile adds a textural element to a room that can’t be duplicated by any other material. Ann Sacks fell in love with tile while on a family vacation to Mexico when she was 13, and later used that passion to create a business inspired by those Mexican tiles. She hired gifted artisans to grow her business into a true American success story. Ann Sacks, founded in 1981 in Portland, Oregon, draws talented craftspeople to create inspiring designs in tile, stone, plumbing, lighting and accessories. These creations are traditional in terms of craft, but aligned with contemporary design trends. Today, the company includes the work of 15 designers. Whether you choose to use tile in a more traditional way in your bath or kitchen, or to elevate another space inside a home with a more innovative style, use a customized design and select colors to create a unique environment anyone would want to call home.


Sydnee Johnson Going above and beyond to find your next home. SYDNEE JOHNSON Realtor 22A Via DeLuna Pensacola Beach, FL 32561 sydneejohnson.cbintouch.com (850) 712-6772 Cell sydnee.johnson@floridamoves.com Follow me on

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Basements

If your home is built with a basement, bathroom additions can be problematic due to concrete and existing plumbing limitations. Above-floor, macerating plumbing is a smart solution for fast, cost-effective bathroom additions in lower-level rooms. Now you can highlight the comfortable living space and make it feel like a true entertainment center or like home to prospective buyers.

Historic homes

Add a bathroom to an ‘impossible’ space to catch home buyers’ attention When it comes to real estate, you’ve probably heard kitchens and bathrooms typically sell houses. While you may not have enough money for a kitchen remodel, adding a bathroom can be a more affordable way to enhance your property and catch buyers’ attention. By adding another bathroom to your home, you immediately increase your chances of the property getting noticed. Technology makes it simple for buyers to search properties of interest by their designated criteria. One of those is “minimum number of bathrooms.” By adding to that amount in your listing, you’ll be getting in front of that many more potential buyers. Bathrooms increase a home’s value and add to its functionality - both elements that buyers desire. Homeowners can begin to research opportunities to add bathrooms to their properties presale. This often means enhancing basements, garage slabs and other spaces that can be more difficult for contractors to add plumbing systems with conventional in-floor drainage. If you have a space that would be ideal for a bathroom but appears to be impossible due to the need to break through concrete or other types of flooring, there’s another solution to consider: above-floor, macerating plumbing systems. Developed a half century ago in Europe, these systems are still relatively unknown in the United States; however, they offer a vast opportunity for homeowners. Macerating systems from makers like Saniflo reduce waste and paper from the toilet and send it under high pressure through piping directly into the septic or sewer system. No waste is stored, and

the systems are low-cost compared to traditional plumbing. Systems are discreet, quiet and open the possibilities of affordable additions in less time. Learn more at Saniflo.com. If you want to add a bathroom to prepare your home for resale, don’t be limited by the seemingly impossible. Here are five “impossible” home improvement scenarios where above-floor plumbing may be the solution

Main floor on-slab construction

Owners of slab-built homes may hesitate to cut into the concrete foundation in order to accommodate conventional plumbing. No matter how careful a contractor is when cutting into concrete, a variety of problems can arise from unexpected obstructions to poor-fitting patches and even stress cracks. Above-floor plumbing systems eliminate the need to cut into the slab, so integrity isn’t compromised.

Opening walls or floors to accommodate piping may jeopardize important historic elements, such as original wood flooring or plaster walls. Systems like Saniflo’s macerating toilet and plumbing technology eliminate the need to cut through a floor to install new drainage, while minimizing the impact on walls as well. The system also fits easily into small areas like a closet or the dead space behind a stairway, meaning homeowners don’t have to compromise the flow of their historic homes to add a bathroom.

Raised homes

Bayou and beach towns often boast charming raised homes. Adding a bathroom to the lowest floor of a raised home can be problematic; conventional plumbing pipes may detract from the aesthetic value of the space beneath the home, which is often used for car ports, porches and decks. Above-floor plumbing eliminates the need for unsightly pipes, so you can make a great first impression to potential buyers.

Warehouse rehabs

In cities across the country, warehouses have found new life as condos and apartments. The problem is heavy brick construction can make adding traditional plumbing difficult. Abovefloor plumbing eliminates the need to cut into or remove bricks, and allows renovators to install attractive, cozy bathrooms in smaller spaces. Imagine how upgrading a one-bath condo to a property with two bathrooms will enhance resale. If you’re preparing your home for the current real estate market, you want it to stand out. An extra bathroom can help you do that and attract high bids from buyers. Thanks to above-floor macerating plumbing systems, the possibilities are endless.

Business Climate 53


3 Tips to Create Your Dream Closet If you’ve ever opened your closet doors and been depressed by what you see, it may be time to rethink your closet. In fact, according to a One Poll survey on behalf of ClosetMaid, 57 percent of women admitted having an organized closet would make finding what they’re looking for faster and easier while 3 out of 10 said an organized closet would make mornings less stressful. However, treating yourself to your dream closet and introducing a new level of organization can help alleviate those worries and provide a fresh perspective. To get started on your closet makeover, consider these tips: 54 Business Climate

Assess Your Needs

Before diving headfirst into a full-blown closet makeover, start by assessing any budgetary constraints as well as the physical aspects and size of your space. Determine your ceiling height and available wall space to give yourself a feel for what your area can accommodate; you may even want to consider converting an adjacent room into your dream closet. Remember to account for any sloped walls and whether you prefer a simple reach-in closet or a more elaborate walk-in. Once you’ve determined your preferences and completed your measurements, turn to your wardrobe to assess whether you need more hanging space, shelving, shoe storage, accessory drawers or something else entirely.

Make Your Dream a Reality

Whether you’re a motivated DIYer intent on completing the project yourself or would prefer to work with a team of designers and professional installers, there are plenty of options available to bring your dream closet to fruition. One closet system to consider if you’re seeking a completely customized, designer-inspired

space is ClosetMaid’s MasterSuite 27th Avenue collection. The professionally installed line can be cut to nearly any configuration and offers a range of matte and premium wood finishes, three drawer styles, elegant hardware options and high-end accessories, allowing you the design freedom to ensure the features and aesthetic match your vision for the space.

Customize Your Space

No closet is complete without some personal touches. Make your closet work efficiently with some luxurious organization accessories such as jewelry trays, shoe shelving, wire baskets and drawers, sliding mirrors, valet rods, scarf racks and more. Once you have the necessary accessories and hangers, set up a systematic flow by using the zone principle. Keep frequently used items in prime real estate, accessories within reach and tuck away those rarely used items. With your dream closet complete, the only thing left to worry about is keeping it in tip-top shape. For more closet makeover tips and solutions, visit ClosetMaid.com.


4

Steps for DIY Paint Project Success

Painting is one of the easiest and most impactful DIY projects for homeowners to quickly update their homes. Whether it’s a new look in a master bathroom, adding a pop of color to the guest room, finishing off a basement remodel or anything in-between, a fresh coat of paint provides a fresh spin that’s all your own.

To make your painting project go smoothly, consider following these important steps. Take this task list from the experts at Purdy Professional Painting Tools into account before diving in to your DIY painting project.

FIND INSPIRATION

Having a final design in mind before starting your project can help you plan. From the obvious wall color to more intricate details like 56 Business Climate

painting trim, doors, the ceiling and more, starting your project with a plan can help you avoid multiple trips to the store. Remember, the details are important: incorporating the correct types and sheens of paint, using complementary colors, buying the proper amount of paint and more.

COLLECT THE RIGHT TOOLS

Part of the planning process includes ensuring you have the proper tools for the project. A paint brush, roller cover, roller frame, paint tray and extension pole are the basic essentials for your project’s success. From step ladders and putty knives to wood filler and drop cloths, it’s crucial to have everything you need. However, keep in mind that not all tools are created equal. For example, when you use a high-quality paint brush, you’re more likely to paint straight lines when cutting in to corners and walls. You may also notice a much smoother finish, one without unsightly brush strokes, which means a more visually appealing result with less effort, too. One option is Purdy Brushes, which are specially designed and hand-crafted to ensure you get professional-quality results every time. Find a tool selector to help you find the best brushes, roller covers and painting accessories for your project at purdy.com.

PREPARE THE AREA

Proper planning for your project depends on which room in the house you’re painting. The main rules of thumb include removing everything from your walls – including curtains, decor and switch plates – using drop cloths to cover floors; removing or lowering light fixtures from the ceiling; and emptying the room of tables, lamps, furniture and other movable objects. If this isn’t possible, push all the pieces to the center of the room and cover with drop cloths. Don’t forget to prepare the surface you are going to paint. Patch and sand any holes or imperfections. Then wipe down surfaces you plan to paint with warm water, which helps remove dirt and dust that can sometimes prevent paint from adhering. If possible, open windows for better ventilation once you’re ready to start.

CLEAN UP

When the painting process is finished and you’re appreciating the hard work, don’t forget the job isn’t done until you’ve properly cleaned up. Paint brushes and roller covers should be washed promptly after use to ensure they can be used again. Use warm water and mild detergent to clean then let air dry. If you end up with leftover paint, it can be helpful to save some for future touch-ups. One helpful tip is to write on the can what room or walls you painted, the date and color name. This information can be beneficial should you need to purchase more paint at a later date.


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COMING SOON

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JUST LISTED

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2812 MANOR CIR-GULF BREEZE 5BD / 6 BATH, 4,250 SF, $849,000

506 KENILWORTH AVE-GULF BREEZE 4BD / 4.5 BATH, 5,693 SF, $1,895,900 WATerFroNT

2 PORTOFINO DR-PENSACOLA BEACH 2BD / 2.5 BATH, 1,333 SF UNIT# 1709, $559,000

2 PORTOFINO DR-PENSACOLA BEACH 2BD / 2.5 BATH, 1,333 SF UNIT# 506, $575,000

JUST LISTED

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CURRENTLY AVAILABLE

735 PEAKES POINT DR-GULF BREEZE .512 ACreS, residential Lot, $1,195,000

280 PLANTATION HILL RD-GULF BREEZE .44 ACreS, residential Lot, $259,900

3310 LOGAN DR-PENSACOLA 5BD / 3.5 BATH, 3,193 SF, $395,000

277 ENDOR RD-PENSACOLA 5BD / 3 BATH, 3,666 SF, $599,000

CURRENTLY AVAILABLE

UNDER CONTRACT

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1061 HARBOURVIEW CIR-PENSACOLA 4BD /4.5 BATH, 5,672 SF, $1,999,995 WATerFroNT

775 WOODBINE DR-PENSACOLA 4BD / 3.5 BATH, 3,669 SF, $349,900

884 SOUND HARBOR CIR-GULF BREEZE 3BD / 2.5 BATH, 2,534 SF, $449,000

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145 MIDDLE PLANTATION LN-GULF BREEZE 5BD / 3.5 BATH, 3,390 SF SoLD oN 1/18/19 $775,000

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19 SEASHORE DR-PENSACOLA BEACH 5BD / 4 BATH, 3,894 SF SoLD oN 12/20/18 $1,150,000

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5 COLLEY CV DR-GULF BREEZE 3BD / 2.5 BATH, 4,291 SF SoLD oN 1/15/19 $1,550,000

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416 SHORELINE DR-GULF BREEZE 4BD / 2 BATH, 2,379 SF SoLD oN 12/4/18 $432,000


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Profile for Ballinger Publishing

Business Climate, Feb. 2019  

Business Climate, Feb. 2019