If you were tasked to complete 576 construction projects in 2023 on time and under budget, it might seem impossible to succeed. That’s an average of 1.5 projects every day of the year.
Then there’s a curve ball. A winter storm wreaks havoc and damages fire systems, causes pipes to burst and creates major repair projects on top of everything.
The probability of achieving this goal now seems inconceivable.
But that’s exactly what our CapEx team accomplished within the first five months of the year – 576 completed projects on time and under budget. Their ability to overcome obstacles, exceed expectations and control expenses is impressive. While the projects range from landscaping to painting and everything in between, their successful outcomes start with the right mindset.
“We knew it was going to be a challenge. We set a goal to start the year to complete 98% of projects within our set standards, but 80% of those projects were going to be in the first half of the year,” says partner and director of CapEx Rodney Johnson. “Staying focused, organized and disciplined from the start has been key.”
The team’s success in 2023 hasn’t been without its challenges. In January, the team faced unexpected water damage, fire systems, and building repair projects caused by winter storms across the country. Our CapEx team focused 10% of its time on the problem and 90% on providing solutions.
“It was the perfect storm of bad timing. We had 12 properties hit by winter storms over Christmas and New Year’s,” project manager Dustin Myers recalled. “If it weren’t for us building great relationships with our vendors, we wouldn’t have been able to mobilize teams so quickly. It could have set us back for the entire year.”
Despite the early hurdles, Rodney, Dustin and the rest of the CapEx team kept their eyes on the target and consistently delivered project after project, setting our properties up for success.
When you look at the volume and variety of projects handled by CapEx, you can begin to see their impact on each of our properties. Whether it’s improving physical facilities with exterior paint and landscaping, or upgrading our resident amenities to elevate the overall living experience, the impact is profound.
One project, in particular, jumps out to Dustin as a potential game changer for a property.
“The upgrades to Drexel at Oakley’s clubhouse are impressive. At first, I didn’t think what was proposed would work, but I was happy to be proven wrong,” said Dustin. “The renovation makes the property seem 20 years younger. I look forward to seeing its impact on the sales team.”
In true Connor Group fashion, the CapEx team isn’t spending too much time celebrating its success. Their focus is on the remaining 126 projects on the docket for the rest of the year, including $6.5 million worth of exterior upgrades to our upcoming acquisition in Ft. Lauderdale, The Villas at Wyndham Lakes.
“You’re not going to be able to recognize the property once we’re done with it,” said Rodney. “We’re completely redoing the exterior paint, roofs and asphalt. We’re also upgrading the pool, fitness center and playground. We’re confident the current residents will love the changes while also making the property more appealing to new residents.”
Rodney and his team are also thinking long-term as we set out to execute our 2027 strategic plan. Having processes and standards in place are only part of the solution. You also need the right people. With the recent additions of project managers Wil Kusters and Ty Thompson, Rodney is confident his team will continue to deliver.
“Making sure we follow the systems and standards we set is key. But at the end of the day, it’s up to the people on the team to execute those systems,” Rodney said. “Having the right people execute our systems at an elite level is how we’ve been successful so far this year, and it’s how we’ll continue to be successful in the future.”