Stanley W. (Stan) Sloter- Setting the Paradigm (#16)

“Control costs during the design phase to help you save money in the overall planning process”- Stan Sloter Bio President and founder of the Paradigm Companies, Stanley manages Paradigm’s daily responsibilities as a full-service development, construction and property management firm. Beyond his Paradigm responsibilities, he also teaches a graduate-level real estate development course during the fall semester at The George Washington University. Before initiating a career in development, Stanley worked in construction lending with Pittsburgh National Bank. An active community member, he is a founder of Rocketship Education (a DC charter school) and serves as both the Chairman of the Board of Trustees for Lycoming College and a member of the Board of Trustees for The Washington Center for Academic Studies. Stanley is a longtime supporter of Teach for America in DC and an advocate for affordable housing. He has served on the DC Comprehensive Housing Strategy Task Force, the Arlington County Housing Commission and the City of Alexandria Affordable Housing Work Group. Stanley is a graduate of Lycoming College, with a Bachelor of Arts degree in Chemistry, and has a Master of Business Administration degree from the University of Pittsburgh. Show Notes Current Role at Paradigm Diversified real estate company (3:40)Effort to manage and maximize value on mostly multifamilyConstruction company- $200MM/yr.Property Management- 8,000+ unitsDevelopment business (1-2 projects per year)Rolled up into a holding companyOversee and capitalization of companies- strategic management Perspective of COVID 19 Crisis How do we work through this? (6:20)In housing business and are “deemed essential” in all businesses (6:40)Operating business needs to keep going during crisis (7:00)Day to day issues- tenants’ illnesses & rental capabilityIf in office or retail business, what are structural changes ahead? (8:30)TOD oriented now- will this (transit orientation) be a viable strategy beyond the pandemic? (9:15)Prediction- Numbers will save us such that we will get comfortable again (a hope) (10:05)Collections- Good so far due to tenant demographics…not sure about May (11:20)Affordable units are harder hit…some tenants may take advantage if they are laid off (12:00)DC area will fare better in the short run (12:30)Situation now is different than earlier downturns (13:00) Background & Education Origins- Central PA (Altoona, PA) (15:05)Mother was entrepreneurial (15:30)First business at 16- Painted parking lots- striping (Story)A&P hired him to stripe their parking lots around PA (15:45)While a Sr. in HS he wanted Tax ID info from him and found out he was a “minor” and his agreement with A&P was not valid- he didn’t accomplish any of his duties (17:15)He was ready to go to work, but they told him he s...