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Development is not for the faint of heart.
Whether youíre investing in land, housing, commercial real estate or a historic rehabilitation project, development requires much research, financial intelligence and understanding of processes. Add in construction variables, and it would be enough to keep some people up at night. For others, itís an exciting opportunity to cast a vision and see it through to completion.
In this issue of B Magazine, we take a look at some of the issues surrounding development.
Local entrepreneurs Jason Coalter and Scott Rhodes spoke to B Magazine about why they do what they do, the challenges they face and why they still get up day after day looking forward to the challenge of developing their own businesses and properties. A theme that emerged more than once during their conversation is the importance of service: service of customers, and municipalities servicing developers so projects can be finished on time ó or early.
Then there are projects that have been a long time coming, such as the Esquire building on Broadway in Cape Girardeau, which Jon K. Rust examined for this issue. The once-glorious theatre is in disrepair, and has been around longer than some of us have been alive. But a developer from Bloomsdale, Missouri, wants to return the historic building to its former glory ó a noble, yet costly, opportunity. How do tools like Tax Increment Financing (TIF) work, and will this be the tool to finally get the long-vacant building back to good use?
Finally, each year we look forward to recognizing a group we call Newsmakers. These are folks who see a challenge and rise to the occasion. They donít back down, sit on the sidelines or wait for someone else to do the job. They are doers in their communities.
Some previous Newsmakers have been entrepreneurs. Others are employees of local businesses who find ways to contribute in meaningful ways ó not only to the business community but also through church, school and charitable causes.
If you know people who fit the bill, we encourage you to nominate them by July 11. Nominations can be submitted online at semissourian.com/forms/newsmakers. You can read profiles of last yearís Newsmakers at semissourian.com/newsmakers.
This yearís Newsmakers will be honored at a reception sponsored by First Midwest Bank in September, and the next issue of B Magazine will share the stories of this yearís honorees. Stay tuned.
Lucas Presson is the publisher of B Magazine.