FRED Newsletter - May 2023 - Volume 5, Issue 5

PROJECT DELIVERIES

Modifying Approaches of the 'Marathon'

By Peter Todd, Michael Bingham, and Andy Kiener

One of the more interesting infographics showing Fiduciary Real Estate Development’s apartment deliveries over recent years can be seen below Apartment “deliveries” are when the construction process is complete and the building is transferred to our Property Management teams for “lease up” There is a lot of information and conclusions that can be drawn from this infographic because it reflects the cadence of our development projects and of our company

As you can see, we sometimes have “feast or famine” where we have too much work or almost zero work. As much as we have wished we could smooth out our starts and deliveries, sometimes there are spikes in effort when there are a lot of turnovers. We have had to modify our approach by utilizing outside contractors, creating new construction, or Property Management teams to manage the process and smooth out “waves” of turnovers. Regardless of the approach, we always have the same expectation of quality and customer service. There have been several studies showing that residents who are satisfied at move-in remained satisfied through renewal. It’s very important that we get this process right.

As with most turnovers or lease-ups, there are some days that are much more chaotic because of last-minute issues or changes. We encourage people to treat each other with mutual respect while we all do our best to problem-solve and meet milestones. Moreover, COVID, the supply chain, and a tight labor market have created permanent or systemic changes that significantly change how we approach our work. We are constantly evolving our approach because there is always room for continuous improvement.

We are forecasting a lot of turnovers coming in 2023 into 2024 and we have confidence that we are all ready for what’s coming. We have spent years developing our methods, technical knowledge, and internal relationships to refine how we deliver these projects. There have also been several excellent new hires over the past 24 months, getting all of us ready for our current workload.

A sophisticated spreadsheet (or this fancy infographic) cannot truly reflect the commitment to a process, attention to quality, or the ability of our employees to show up every day. FRED employees have shown an incredible amount of grit and perseverance to smooth out sometimes very stressful and chaotic days. These deliveries and project lease-ups can feel like a marathon, so thank you very much to all that are involved!

Infographic: Tiffany Walisiewicz

DIVERSITY FEATURE

FRED HONORS ASIAN AMERICAN & PACIFIC ISLANDER HERITAGE MONTH

By Zang Thao, Property Management Accounting Manager

There are approximately 50 ethnic groups with over 100 languages that make up the Asian American and Pacific Islanders (AAPI) group. They consist of people of Asian descent that are from the Far East, Southeast Asia, or India as well as Pacific Islanders from the islands of Polynesia, Micronesia, and Melanesia. With such an array of different communities in the AAPI group, I feel that the best way to learn about a culture or person is through their food. Food is what connects us and brings a story and meaning that allows us to appreciate each other. For example, the famous Korean Fried Chicken was created when Americans shared the recipe with civilians during the Korean War. With the growth of so many diverse Asian restaurants in recent years, popular dishes like Vietnamese Pho, Korean Barbeque, Japanese Sushi/Ramen, Indian Chicken Marsala, Filipino Lechon, and Chinese Dim Sum have all become familiar fare. As Asian Americans have become reflected in the American landscape, not only have their food become popular and recognizable, their influences and impact have become more visible. Asian American successes include Vice President Kamala Harris, Judge Kristy Yang (Milwaukee), Filmmaker Ang Lee, Celebrities like Bruce Lee, Dwayne Johnson, George Takei, Anna May Wong (who was just featured on the 2022 quarter), physician Dr. David Ho, Yahoo! co-founder Jerry Yang, classical musician Yo-Yo Ma, Olympian Michelle Kwan, designer/model Kimora Lee, astronaut Kalpana Chawla, and endless others. For a young fiveyear-old girl who came to America in 1980, seeing all the possibilities, contributions, and achievements of Asian Americans has influenced me tremendously. Please join me in celebrating AAPI month by trying a new dish, watching amazing movies, listening to beautiful music, or learning about other Asian American successes.

FRED HONORS JEWISH AMERICAN HERITAGE MONTH

By Kirstin Janowski, Manager of Organizational Development

In 2006, President George W Bush declared May Jewish American Heritage Month to recognize Jewish contributions to American culture It was 364 years ago that the first Jewish refugees arrived in the U S seeking opportunities and fleeing oppression and discrimination Jewish Americans are American citizens who are Jewish by either culture, ethnicity, or religion The Jewish American community has had numerous contributions to American culture, starting in the 1900s where they had a hand in creating the garment industry in New York City and acted as a large part of trade unions Yiddish theaters also provided a training ground for performers and producers who moved to Hollywood in the 1920s Many Jews have been at the forefront of women’s’ issues as well, such as Hannah Greenebaum Solomon, the first president of the National Council of Jewish Women, who advocated for women’s right to vote Due to the Jewish culture valuing entrepreneurship and business excellence, many American Jews played a major role in developing America's financial services industry, both at investment banks and with investment funds With support from European Jewish banking connections, Jewish immigrants were able to start banks in the U S One of the most influential Jewish bankers in the 19th century, Jacob Schiff, financed railroad projects and also aided the Westinghouse Electric Company and the Western Union Telegraph Company To celebrate Jewish American Heritage Month, think about visiting a Jewish museum, baking Challah (a special bread of Ashkenazi Jewish origin, usually braided), or listening to a Jewish podcast (such as Unorthodox by Tablet Magazine or Chutzpod!)

A SHOW SKI SUMMER

From Spectators to Competitors

By Julie Lincoln, Property Management Department Coordinator

Wisconsin is the "Water Ski Show Capital of the World", with nearly 30 teams across the state. Stemming back to its creation in 1922, water show skiing gained popularity in the 1940s, when the combination of the sport with theater created a sensational attraction for all ages. Competitive show skiing didn't begin until the late 1960s, with the first State Tournament in 1967 and the first Nationals Tournament in 1975. Today's shows include acts like pyramids, conventionals, strap doubles and trios, jump, trick, barefoot, shoeski, ballet, swivel, and kid's act combined with a theme, including a full script, characters, costumes, music, and props.

One of the earliest teams, the Muskego Water Bugs, started in the 1960s at Okauchee Lake. Soon after, they made Idle Isle in Muskego their home site. Today, the team is formed of over 75 members, including skiers, boat drivers and spotters, dock and safety personnel, show directors, announcers and sound, and concessions helpers. Together, the team puts on free water ski shows every Wednesday night from Memorial Day to Labor Day, with the biggest show on the 3rd of July, complete with a grand fireworks display, in addition to competing in one or two tournaments.

My husband, Sean, joined the Muskego Water Bugs in 2020 after spending the prior summer as a spectator. He had little waterskiing experience but loves to snow ski. His main acts were pyramids and conventionals. Last season, he began working on barefoot and strap doubles with his partner, Caitlyn. In addition to performing and competing with the team this year, the two of them will also be competing strap doubles individually at two to three tournaments. Their theme is Tarzan. I joined the team in 2021 as the Sound Tech. I set up, run, and tear down the equipment for each show. I really enjoy making a new set list for every week's pre-show and intermission. I also help with providing song suggestions and sound effects for the show. We practice as a team every Monday and Tuesday (plus indoors during the off-season) and individually on the weekend.

Come on out and join us for a free show this summer as we welcome you to "Candyland" (our 2023 theme). You also don't want to miss our 3rd of July event! Or you can tune into a State or National Tournament online! This year's State Tournament will be July 20-23 on Lake Wazeecha.

If you want to learn more about show skiing or are interested in joining or donating to the Water Bugs, click on the logos below!

Sean (third from right) in the 3rd of July Pyramid (2022)

Sean (closest) in the Conventionals Line at State (2022)

Sean with his Strap Doubles partner, Caitlyn (2022)

DJ J (me) in the sound booth at our home site (2022)

What Makes Them Shine

Bergamont is nestled in a quaint location on the outskirts of the Village of Oregon, where residents enjoy the beautiful views! Each apartment home conveniently offers a private entrance and an attached garage. Although the property does not offer community amenities, we invite them to our Elan Property to join our events. Our team's fantastic service helps to keep the community 100% occupied. Elan Apartments is located in Fitchburg close to nature, yet conveniently located behind a variety of shops, salons, and restaurants. Elan offers a variety of community amenities and the residents have been enjoying all of our recent updates, which have included our clubroom, fitness center, and pool furniture We are continuing a property facelift with fresh and updated paint colors in all our common areas! The team hosts a variety of resident events and giveaways, including a 'breakfast to go', ice cream poolside, and Taco Tuesday!

Bergamont and Elan are proud to have many long-term residents who love living within the community!

PROPERTY SPOTLIGHT

EMPLOYEE SPOTLIGHT

ILENE MARTINE Property Manager

Seasons at Plainfield catching a good ol' baseball game at Guaranteed Rate Field with friends and family members. There is no better feeling than representing Chicago and the community I am from. I love the aura, culture, and being able to create memories at every baseball game I attend. Additionally, I look forward to preparing myself this summer for walks with Chicago Girls Who Walk. I am so excited to get back outdoors and enjoy the sunny days in Chi-Town with people I love the most.

During the Spring and Summer, I enjoy

SPOTLIGHT!

IT DEPARTMENT March Winner

Jason Streit, Vong Lee, Freddy Almonte, John Calderone | Corporate

I wanted to take a moment to express my deepest gratitude for all of the invaluable support the FRED IT Department provided during our recent office move. The hard work in ensuring that our technology systems were set up seamlessly and ready to use on day one in the new office space did not go unnoticed. The whole office is incredibly grateful for your tireless efforts and unwavering commitment to excellence. We couldn't have done it without you.

Nominated

By: Peter Todd

By William Bowden, Regional Property Manager

FRED converted the Madison Regional Office into three new luxury apartments. The new apartments include two one-bedroom apartments and one three-bedroom apartment. The new apartments have upgraded finishes, including solid surface countertops, high-end cabinetry throughout, modern sleek lighting, and stainless-steel appliances

XAVIER

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