Good as Gold
- Nov 01, 2018
Like all reporters, I relish the chance to be a fly on the wall. In our shop there’s no eavesdropping more enjoyable than the judging for CPE’s annual Distinguished Achievement Awards. The marathon session unfolds in our conference room, where we gather an eclectic group of practitioners, advisers and other experts. We hand each judge an imposing stack of entries, sit back and listen closely.
I wish all of you could hear the kudos and constructive criticism that our experts ladle out over the course of the judging session. Since that’s impossible, unfortunately, I warmly encourage you to read the summary of the 2018 winners in this month’s digital issue, as well as the in-depth online write-ups.
One pattern that jumps out at me is the frequent appearance of multifamily projects, deals and professionals. Take Vulcan Real Estate’s Batik, one of two Gold Award recipients in the Best Development Category. The panel cited the project’s pending LEED Platinum certification, mandatory inclusion zoning, participation of minority- and women-owned businesses, and a design tailored to a challenging sloped site.
Multifamily entries also took home awards in the Best Corporate Strategy, Best Investment Transaction, Best Development & Design—Unbuilt and Rising Stars categories.
I’m also struck by the canny blending of asset categories exemplified by this year’s winners. PN Hoffman and Madison Marquette earned Gold Awards for The Wharf, their seminal $2.5 billion development that is rejuvenating a mile of Potomac River waterfront in Washington, D.C. Phase One brings together two multifamily communities, an office building, a 6,000-seat entertainment venue, a yacht club and a 700,000-square-foot parking structure.
For its part, Hines earned a Silver Award in the repositioning and redevelopment category after taking charge of an unfinished hotel in Chandler, Ariz., and replacing that recession-era eyesore with the very model of a modern mixed-use development: 260,000 square feet of office space, high-end apartments, a 136-key Cambria Hotel & Suites and retail.
As always, the Distinguished Achievement Awards leave me eager to see what’s around the corner. Which reminds me, it’s never too early to start thinking about the deals, strategies and projects that your company should enter next yeart. Yes, I know Thanksgiving isn’t even here yet. But the way the months fly by, submissions for the 2019 competition will be due before you can say “Gold Award.”