Site selection criteria and AI

Eric Garrett is the CEO and founder of The Garrett Companies, a multi-faceted holding company focusing on national multifamily development, construction, and asset management. Over the span of a decade, Eric has engineered The Garrett Companies into a $500 million annual revenue business, achieving notable growth with a unique approach in site evaluation and development. Eric's background spans real estate brokerage, banking, and multifamily development, showcasing his vast industry knowledge and entrepreneurial spirit.

In this episode of Design Development, host Rens Hayes interviews Eric Garrett, CEO and founder of The Garrett Companies. The conversation delves deep into the complexities of growing a multifaceted real estate development and construction business that has achieved phenomenal growth since its inception in 2014. Eric shares insights into his unique site evaluation strategies, the importance of operational excellence, and his company's expansion into various sectors including capital fundraising, subcontracting, and restaurants.

Eric Garrett's journey from a career in banking and brokerage to founding a multifamily development empire is explored, highlighting key lessons and strategies. From hiring slow and methodically to leveraging technology and AI for site selection, Eric reveals what makes The Garrett Companies stand out in the competitive real estate market. The conversation also touches upon the importance of company culture, strategic advisory teams, and the relentless pursuit of excellence that has guided their success.

Key Takeaways:

• Eric shares how The Garrett Companies leverage their proprietary site evaluation software, augmented by AI, to identify lucrative development sites swiftly.
• Deep dive into their slow, meticulous hiring process ensuring cultural fit and technical expertise, contributing to high employee retention.
• Insights into maintaining a vibrant company culture through unique team-building activities and a strong pursuit of excellence principle.
• Discussion on strategically expanding into new markets and adding business lines in subcontracting and capital funds to create a self-sustaining development ecosystem.
• Eric’s career trajectory offers valuable lessons on seizing opportunities, understanding every facet of the business, and applying a holistic approach to real estate development.

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