Everybody’s a little more cautious since the recession – but everybody’s optimistic and things seem to have shifted to another level. –
Isaac Figueroa, Director of Real Estate Development, BFL Ventures
continued from page 166 veloper – such as location of a project, feasibility studies, availability of water and utilities, and other engineering analyses. A contractor usually gets a project after all of that is done. “There are so many pieces to the puzzle,” said Brav, who started BFL 45 years ago. “Most general contractors really don’t have all those skill sets.” With in-house real estate expertise, Larson said, there is an expectation that there will be plenty of work for BFL, as well as for other developers and builders in the region.
“There’s a lot of action,” Larson said. “It’s not the 2000s where you couldn’t miss. It’s a lot more calculated with a lot of moving parts and opportunities coming in all sectors of the market. It looks like it’s going to remain that way for the foreseeable future.” “Cautious optimism is usually the term that’s thrown around,” Figueroa added. “Everybody’s a little more cautious since the recession – but everybody’s optimistic and things seem to have shifted to another level.” While no one is declaring that Tucson’s economy is at full health, Brav said
waiting for that to happen before making a move to capitalize is too late. “I’ve always found that the best time to expand business is when it was slow because people have time to talk to you,” Brav said. “When it’s busy, they rely on relationships that they’ve already developed.” Larson said, “We see a future in the current market. That’s why we’re making this play. We don’t think we’re at the top yet. We haven’t seen the best that Tucson’s going to be.”