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BUSINESS NEWS EMBREY PARTNERS RECEIVES MERIT AWARD FOR FORT WORTH MULTIFAMILY PROJECT Embrey Partners continues to build on its national reputation for excellence with its latest recognition – the 2019 Multifamily Executive Magazine Merit Award for Garden-style Walk-up – for its Kelley at Samuels Avenue development in Fort Worth, Texas. Embrey was one of only 28 winners from among more than 300 entries nationally across 14 categories. The magazine noted that this year’s award winners “stood out from the rest of the pack for their outstanding design, remarkable architecture, creativity and inventiveness” and “continue to set the bar high for creating innovative and thoughtful communities.” Embrey’s Kelley at Samuels Avenue project is unique among the entries for its onsite historical preservation of the Garvey House, a 100-year-old Queen Anne Victorian home that is also known as Queen of the Trinity. The Texas Historical Commission and Historic Fort Worth have recognized Embrey for “rescuing” the historic structure, which dates back to the late 1800s. “We were extremely pleased when Embrey stepped in to save this beautiful home,” said Jerre Tracy, executive director of Historic Fort Worth. “We built Kelley at Samuels Avenue with the Garvey House as the centerpiece,” said John Kirk, executive vice president of development for Embrey. “The house now serves as the leasing office for the community.” The Kelley at Samuels Avenue, developed by Embrey and designed by Humphreys & Partners Architects , successfully mixes the best of the old world with the future of multifamily living.
As noted in the MFE award recognition, the mix of townhomes and carriage homes amenities such as an outdoor biergarten, a bike shop and storage, an outdoor kitchen, and a valet dry cleaning service. There’s also a business center, a library, an infinity-edge swimming pool, a game room, green space, a guest suite, a fitness center with a yoga and spin studio, a bicycle repair station, and two dog parks with a dog washing station. The interiors of the units offer open floor plans with designer finishes and sophisticated color schemes. There’s undercounter cabinet lighting, side-by-side refrigerators, undermount sinks, granite or quartz countertops, and full-size washers and dryers. Townhomes and carriage houses include attached garages and private fenced-in backyards – some with elevator access. “This is an especially gratifying honor for Embrey to add to its collection of national awards,” said Trey Embrey, CEO and President of Embrey. “We are nationally recognized for our dedication to design, detail and livability. We also work to be good stewards in the existing Communities where we build, and this historic preservation is a great example of that aspect of what we are about. Our goal is to always build places where people want to be.” Humphreys & Partners Architects is an award- winning firm specializing in multifamily, mixed- use and hospitality/resort design. Humphreys & Partners has extensive experience in high-rise, mid-rise, student, senior, affordable, tax credit, moderate and luxury communities. San Antonio-based Embrey Partners, Ltd., is a diversified real estate investment company that owns, develops, builds and manages market- rate multifamily and commercial assets in targeted markets across the United States.
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WILL SWEARINGEN, from page 1
be involved in the business at all, then they are going to be the one making all the decisions even if they are not the majority owner. If they are still involved in the business as they sell down, they still need to have 100 percent of the rights that they used to have when they were the majority owner. As aging owners enter into the final years of their careers, they have to make some concessions. You are being given the opportunity to be compensated for your equity, while potentially working part time and slowly stepping away from the business. For founders, their businesses are like their children and it’s a challenge to separate the emotional, financial, and operational obligations of leaving a business they helped build. The answer, perhaps, lies somewhere in the preparation phase. We have to position the firm and ourselves so that the impacts and mechanics of the transition are not debilitating or surprising. It should be mapped out and some solid understating of the owner’s roles and rights should be communicated. This means we may have to bake additional cakes, learn how to catch two rabbits at the same time, or grow enough cabbage to feed ourselves and all those goats. WILL SWEARINGEN is director of ownership transition advisory services at Zweig Group. He can be reached at wswearingen@zweiggroup.com.
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THE ZWEIG LETTER December 30, 2019, ISSUE 1325
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