Introduce yourself: Name, current role, and how you ended up in your current position.
I’m Michael Merideth, currently the CEO of VPG Enterprise – we do development, construction, and property management.
I came to New Orleans as a Petroleum Engineer working at Chevron, but was involved in some small real estate investment projects with Andre Lewis, my current partner at VPG. Our vision was to one day build a real estate company together and not just be “passive investors”. We set a plan to acquire assets and then take the plunge and go full time. After doing that for a while, we struggled to find contractors that fit with our vision and outlook on the industry.
We couldn’t find long term partners, so we decided to fill that gap ourselves. This led to the creation of VPG Construction and, subsequently, our property management division. Our goal was to manage the entire process under one unified approach.
Identify the top factors that you believe contribute to a successful development project.
Always ask, “how will this enrich the community?” This approach always guides our next steps.
Has to make financial, timing, and personnel sense. Guided us to do things on the front end for property longevity.
Don’t defer maintenance (see note below about Malcom Gladwell’s “Broken Window Theory” from his book, The Tipping Point). Always tackle work orders in a way that’s effective and efficient. This also reduces turnover of tenants.
Empower property managers: We think about how we program things on-site to show people that we care. People can feel like they have been disenfranchised from previous property managers. Empower property managers to have events, community gardens, vacation bible school, and impart to that. It really does show up on P&L.
Discuss your most fulfilling development project, regardless of its perceived success. Why was it so fulfilling?
The Banks Apartments, a 108-unit complex in Algiers. It was referred to as the “problem property on the street with an out-of-state owner”. It was flooded with all types of crime. We saw an opportunity to implement our processes and care for the surrounding community that was being negatively impacted by this property. Just before we closed on the deal, there was a quadruple murder on-site, which really made us question our decision. But we still moved forward. We believed in the potential. The very next week, there was another murder right when our management team was supposed to arrive. That was a major wake-up call and drove home how critical it was for us to step in and make a difference. This really electrified our need to embrace – and truly save – the people in the apartment complex and in the surrounding neighborhood. We weren’t just taking on a property; we were committed to turning things around for the entire neighborhood.
We developed a strong relationship with the police and implemented thorough security surveillance systems throughout the property. We worked with the nearby schools, churches, and community centers to turn this around. When we walk around the area today, we see populated playgrounds and families. That wasn’t always the case. This was a real testament to how and why we choose to invest in the places that we do. For this property, we invested $1.2M to clean up the property, the community, and to manage with care.
Malcom Gladwell’s “Broken Window Theory” talks about crime reduction the way we saw at this project. You don’t see people throwing rocks at mansions. Crime happens less – a lot less – in neighborhoods with no graffiti and trash on the streets. We want our tenants to take pride in where they live, and that pride helps lift up the whole community. This project really shows why we choose to invest where we see potential and how we aim to create a lasting, positive impact.
What challenges did you face during development? Was there any resistance from local authorities, community groups, and/or permitting/zoning entities?
We didn’t face any resistance on The Banks Apartments project. Our presence and willingness to show up and talk to folks there spoke volumes. We engaged with the neighboring properties, and they expressed their support pretty much immediately. We tried to be proactive instead of waiting for problems to arise.
If your project did not face significant challenges and community concern, what communication and engagement strategies did you implement that you think fostered such a positive project perception?
We did a lot of out-of-the-box thinking to create a positive perception. Often times, if a project doesn’t require a certain level of community engagement, a developer just won’t do it. For us, we try to engage with the community every time – even when it’s not required. It does take more time on the front end, but I think when people know you want input without “needing something”, you can build trust and gain a foothold in the community.
With our project at 3700 Bienville Street, everything was permitted by right, so we didn’t have any formal requirements to engage with the neighborhood groups. Still, we took the initiative to meet with them. We shared our renderings, explained our plans, and held open-forum discussions. Their initial response was, "What are you asking for?" We clarified that we weren’t seeking any variances or trying to meet specific requirements; we just wanted their feedback. Once they understood our approach, their attitude shifted from skepticism to support. They went from questioning us to asking, “How can we help?” This shift in perception was a significant milestone for us. By putting in the extra effort from the beginning, we earned more support and a better overall response, which made the project smoother and more positively received.
What advice would you offer to those embarking on community-facing projects?
Be Patient. It’s a process. As developers, we’re so focused on the numbers. We want to get the best project done as quickly as possible. But it’s important to give yourself time to get through the process. Be honest and be genuine. Invest in high quality, professional branding materials. People notice the low-quality stuff. If you disagree with someone, it’s important that your story remains consistent and authentic from the beginning to the end. Anchor on your mission, but also remain flexible and open-minded to new ideas and perspectives. We all think we have the best development and team in the world but keep an open ear to the community. Take the time to listen, and the investment will pay off.
Lastly: If you’re investing in a project that is affecting a community, you can’t ignore them. Your mission cannot ignore the community. Especially if you’re utilizing public dollars, it’s a fact you can’t ignore.
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