NEWSLETTER FEBRUARY 2025
PROJECT UPDATE FALL PROJECT MILESTONES ACHIEVED
BY PETER TODD
Last fall, we celebrated a remarkable achievement across three of our sites Against tight timelines and with a focus on quality, our teams hit significant milestones by successfully installing asphalt binder courses before the winter season – an accomplishment that also kept general conditions expenses to a minimum.
Here’s a closer look at the three projects:
Seasons at Mount Pleasant Phase II: Despite a late start, our team worked diligently to ensure the binder was installed before winter, utilizing our ability to adapt and deliver under tight deadlines
Seasons at Elgin: Similarly, the Elgin site overcame its challenges to complete the binder installation, underscoring our commitment to staying on track without compromising quality.
Seasons at Grafton: At Grafton, we reached critical milestones by completing all foundation work and asphalt binder installation before winter. This ensures the site is well-prepared for the next phases of construction throughout the winter.
While the mild fall weather certainly played a supportive role, these achievements are a direct result of the hard work, coordination, and expertise of our teams. Everyone involved demonstrated dedication and teamwork, allowing us to move forward smoothly into the colder and more difficult months These milestones don’t just represent completed tasks, they reflect our company’s culture of resilience, resourcefulness, and collaboration Great work, everyone – it’s truly impressive what we can accomplish together.
DEPARTMENT UPDATE DEVELOPMENT
BY TONY DEROSA
Did you know?
FRED’s Corporate support team is always happy to help and loves to hear your ideas and feedback!
Finding multifamily land development opportunities requires a combination of market research, networking and outreach, and leveraging available tools and resources. Our team uses these key steps to identify viable land development opportunities for multifamily developments.
When conducting market research, we look at population growth and employment trends to understand the demand for multifamily housing in a given area We also analyze rental trends and vacancy rates in the area High rental demand and low vacancy rates are strong indicators of opportunities for multifamily developments. In addition, we identify existing multifamily projects in the area. If the area already has significant competition, it may be harder to succeed, but if there’s a lack of multifamily housing, the opportunity may be greater.
Networking and outreach is a very important step that allows our team the opportunity to contact local commercial real estate brokers for insights into potential development opportunities and off-market listings. Leveraging public records includes checking for land sales and property assessments to find potential sites for multifamily development at the County Assessor’s Office. We can search for vacant parcels or underutilized properties that are ideal for redevelopment We can also learn where multifamily developments are underway or where local demand is rising
Evaluating the land size and shape ensures that the parcel is large enough to accommodate the desired multifamily project Larger, flat properties are ideal for our types of developments We also check whether the property is serviced by essential utilities like water, sewer, electric, and gas. If not, we consider the cost and feasibility of extending infrastructure. Verifying zoning classifications and potential restrictions on development is a very important part of evaluation as well. Lastly, multifamily developments tend to perform better when located near amenities like schools, parks, shopping, and public transportation.
THE TEAM
RYAN SCHULTZ Executive Vice President
ASHLEY HEIDORN Development Coordinator
TONY DEROSA Vice President of Development
DAVID FERRELL Director of Development
FRED OUT OF OFFICE
BY ANDY MCDONALD
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Use the QR code to submit your out of office activity for a chance to be featured in an upcoming issue!
In November, my wife, Alicia, her parents, and I embarked on an unforgettable journey to Norway After navigating three connecting flights, we finally touched down in Bodø, a city known for its 359 windy days a year and 164 days of precipitation We picked up a car and stocked up on supplies before setting off on a three-hour ferry ride to the breathtaking Lofoten Islands - a journey not for the faint of heart.
Driving through Norway at night became my superpower, as we arrived at all our destinations in the dark. Being above the Arctic Circle in early winter meant sunrise didn’t occur until 9 a.m., with sunset at 3 pm An interesting fact: from November to March, all vehicles traveling on the Lofoten Islands are required to have metal-studded tires to handle the icy roads
Lofoten, an archipelago, offers one stunning view after another, with waters crashing against the rocky shores and fjords as the backdrop. Long bridges connect fishing villages, where cod-drying racks line the coastline. Unsurprisingly, the fresh fish was exceptional. The highlight of our time there was stepping onto the porch of our Airbnb and witnessing the spectacular Northern Lights.
Our return journey proved to be an adventure in itself. The three-hour ferry back to Bodø was canceled due to high winds and rough seas Instead, we faced a 12-hour overnight drive on pitch-black roads, dotted with moose and reindeer crossing signs The trek included catching a different ferry midway through, but with Alicia as my trusty co-pilot, we made it back to Bodø in time for our flight to Oslo
After minimal sleep, we drove four hours to the charming village of Flåm This is the quintessential Norwegian town with a single grocery store, two restaurants, and a cozy café. There, we experienced a floating sauna and braved the icy 8°C (45°F) waters! We also took a ride on the Flåm Railway, one of the steepest and most scenic train routes in the world.
We wrapped up our trip in Oslo, where we explored the vibrant city and enjoyed our first European Christmas market Norway is a land of stunning natural beauty, friendly people, and incredible food If you’re looking for an adventure, consider adding Norway to your list!
Corner KARLA’S
PROPERTY SPOTLIGHT SEASONS AT HOFFMAN ESTATES
BY ANDY KIENER
The Seasons at Hoffman Estates has successfully completed its lease-up Though it opened in the slower market of fall 2023, the team remained committed to making 2024 a standout year Early challenges were met with strategic adjustments to the marketing plan and a relentless effort from the on-site team. Through active outreach to the community, partnerships with local businesses, and collaboration with the Chamber, the property saw a surge in traffic, ultimately becoming the busiest community in the FRED portfolio In 2024, the team generated 2,971 new leads and hosted 1,192 on-site tours, resulting in 282 leases signed Kevin Kramer, Director of Economic Development for the Village of Hoffman Estates, praised the property, stating:
"WHAT A TESTAMENT TO NOT ONLY THE GREAT PRODUCT AND FANTASTIC MARKETING YOU’VE DONE BUT ALSO YOUR CUSTOMER SERVICE TO YOUR RESIDENTS. EVERYONE AT FIDUCIARY HAS BEEN INCREDIBLE TO WORK WITH, SO WE LOVE TO SEE YOUR SUCCESS.”
This achievement sets the stage for a busy year ahead, with many renewals expected in 2025. Congratulations to the entire team!
Introducing the FRED Corner! Each year, one employee will be chosen to write quarterly articles on any topic they’re passionate about to share unique ideas and inspirations Karla Schultz is our 2025 Host Enjoy!
BRAND NEW ARTICLE
I am fortunate to have been given a great deal of valuable advice over the years. But one piece that has particularly resonated with me is:
“don't rely on others to create your own happiness.”
Translation: Life is what we, ourselves, make of it. If you want to live a happy life, positivity must come from within yourself, rather than expecting someone else to provide it for you. That being said, I try not to sweat the small stuff, make a point to laugh at least once a day, and never go to bed angry. Yes, I do get upset and have experienced my fair share of hardship. And I will forever be grateful for the love and support I was tough times. But at the end of the day was necessary to become happy again
Life is short, so we may as well enjoy it while we can! Like my dad always says, “how do you beat fun?” Well...You can
So
have fun and be happy.
OUR GROWING COMPANY
DECEMBER 14, 2024 - JANUARY 15, 2025
BEN GEHRAND PROJECT ENGINEER CORPORATE
Whether promoting from within or bringing new team members on board, we are always excited to see the ways FRED is growing. Help us in congratulating the individuals below on their new roles! INTERNAL PROMOTION
JAMARI WALKER MAINT APPRENTICE 22 SLATE
ARTURO MARTINEZ MAINT APPRENTICE BARRINGTON PLACE
MICHAEL HANNES MAINT. APPRENTICE RIVERWOOD
ADONIS HERRINGTON MAINT. APPRENTICE SEASONS AT MOUNT PLEASANT
RECOMMENDATIONS BOOK
BY IZABELLE TORODAKE
As an avid book lover, I’m always on the lookout for fantastical and entertaining stories. One book I absolutely adore is Assistant to the Villain by Hannah Nicole Maehrer. It strikes the perfect balance of romance, comedy, and action, making it an incredibly fun read.
The story centers on Evie, a young woman who, through a twist of fate, ends up becoming the assistant to the kingdom’s most notorious villain. What follows is a whirlwind of behind-the-scenes office antics, including scheming, plotting, flirting, and comical quips by the villain's quirky mascot/prisoner, Kingsley, the cursed frog If you enjoy shows like Once Upon a Time and The Office, you’ll find this book, along with its sequels, to be a delightful mix of humor and fantasy
I'm so glad to have found this series, and it's now a cherished addition to both my personal collection and our library corner at High Bluff at Creekwood Crossing
DIANE KOEHN MAINT. SUPERVISOR APEX AT VERONA
JEFFREY CYBELA MAINT. SUPERVISOR DOMAIN
MACKENZIE THOMAS LEASING PROFESSIONAL SEASONS AT RIVER VIEW
FRANCESCA DELISLE ASST. PROPERTY MANAGER 22 SLATE
TYLER RIZZI MAINTENANCE TECH THE 85
