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BUSINESS NEWS STILLWATER CAPITAL BREAKS GROUND ON 336-UNIT APARTMENT COMPLEX IN DEEP ELLUM Stillwater Capital has broken ground on a new five-story, 336-unit apartment complex. The development, named The Crosby, is located on 3.9 acres at 400 South Hall Street in the rejuvenated Deep Ellum area. The Crosby will both respect and complement the Deep Ellum neighborhood, with design and architecture by HLR Architects , that is representative of the historic industrial and commercial buildings in the area. “In Deep Ellum, we see a neighborhood that has long been part of the fabric of Dallas. The artistic and cultural character of Deep Ellum is unique to any other area in the city. In recent years, as the once fractured ownership has coalesced around a more cohesive vision, the neighborhood has renewed energy that we expect to continue. Deep Ellum has always been a wonderful entertainment area and as it continues to evolve, adding more permanent residence and office space will only add to the success. We are excited to be a part of it,” says Aaron Sherman of Stillwater Capital. The building will include 3,000 square feet of co- working space for residences with indoor and outdoor areas, along with a roof top sky deck and lounge. Additional features of the project include: a dog park, bike storage, a resort-style pool, state-of-the-art fitness center, micro- market, and unblocked views of Deep Ellum and downtown. Floorplans at The Crosby will feature studio,
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one-, and two-bedroom apartments ranging from 535 square feet to 1,176 square feet. The Crosby provides an infill location that is in close proximity to the Dallas CBD, Farmers Market, Baylor Medical Center, and a multitude of major thoroughfares. Furthermore, the development is minutes from the 894-bed Baylor University Medical Center that employs more than 5,000 people and has over 1,300 physicians on staff. Hensley Lamkin Rachel, Inc. is an AIA member firm founded in the spring of 1991 primarily to serve as the exclusive architectural firm of a large, national student housing developer. Since then, principals David Hensley, Robert Lamkin, and Bruce Rachel have worked with top development firms across the country to enhance communities through appropriate design for every life stage. HLR’s principals are licensed in multiple states and have designed student housing, multifamily, senior housing, and commercial projects from the Northwest to the Southeast. The firm’s principals build lasting relationships with clients and are highly regarded for their creative and contextual design work, their knowledge of building and accessibility codes, and their experience with residential construction methodologies. Believing that architects have a responsibility not only to lead but also to serve the public, HLR applies a collaborative approach to the design-build process to meet the clients’ expectations – and those of the community.
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1200 North College Ave. Fayetteville, AR 72703 Mark Zweig | Publisher mzweig@zweiggroup.com Richard Massey | Managing Editor rmassey@zweiggroup.com Christina Zweig | Contributing Editor christinaz@zweiggroup.com Sara Parkman | Editor and Designer sparkman@zweiggroup.com Liisa Andreassen | Correspondent landreassen@zweiggroup.com
MARK ZWEIG, from page 1
will never get better. They are a cancer, plain and simple, and will pollute the minds and mental attitudes of all around them. You can try to turn these people around but most of the time that doesn’t work out. If you have these people, they need to go. ❚ ❚ You have to have a clear sense of what the priorities are. Not everything is equally im- portant. You can’t do everything at once – there’s only so much time and money to go around. Cash flow is usually at the top of the list when it comes to survival and turning things around. Collect your money – slow up on disbursements – and get the right sys- tem in place to predict where things are heading before it is too late. ❚ ❚ Communicate with your staff! They need to know what is happening and what you will be asking of them as soon as possible. To get their understanding and support you need to do some selling of your plan. Don’t minimize the importance of this step. If this sounds like you, do something about it. ❚ ❚ You can’t cut your way to growth and profitability. You have to invest in the right things that will help you bring in new clients and projects and do a great job on them when you do. This is one of the most difficult aspects of a turnaround – knowing what to cut and knowing what to spend money on. One last thought: If you are serious about effecting change, the firm will have to seem different to everyone who works there or interacts with it. Do you need a new name? Changes to the office layout or décor? New reports tracking the right numbers that everyone sees? How about other changes? Stop talking and start doing! MARK ZWEIG is Zweig Group’s chairman and founder. Contact him at mzweig@zweiggroup.com.
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© Copyright 2018. Zweig Group. All rights reserved.
THE ZWEIG LETTER February 26, 2018, ISSUE 1237
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