PROJECTS: Redfish Village

Redfish Village – Blue Mountain Beach, Florida (www.redfishvillage.com)

Redfish Village – General Description

  • Mixed-use development consisting of 80 residential and 32 commercial (42,000 square feet) condominiums located along Scenic Highway 30A in Blue Mountain Beach, Florida
  • Served as project manager for investor group that bought Redfish from original developer
  • Retained by Hillcrest Bank to oversee the project workout and winding down of operations; assisted with foreclosure and post-foreclosure sale for Hillcrest Bank
  • Was directly involved with over $25 million in sales at Redfish
  • Currently serves as consultant to the Redfish Condominium Association Board of Directors

Redfish Village – Project Management

  • Prepared market analysis and analyzed condominium association documents
  • Terminated and hired new association, property, maintenance and landscape management
  • Hired, trained and oversaw sales team that produced a commercial sale and residential offers up to $460/SF in Summer of 2008 – $85/SF above the 2008 average for all of the Highway 30A area
  • Hired third-party event planners and oversaw Summer event series that attracted over 400 guests a week to Redfish
  • Oversaw public relations program that generated 25 articles on Redfish in local and regional publications
  • Worked with third-party marketing firm to produce local print, billboard, radio and online campaign, including Redfish Village website
  • Oversaw day-to-day association, property and maintenance management
  • Oversaw turnover of Association from developer-controlled board to homeowners
  • Served as first non-developer President of Redfish Village Condominium Association Board of Directors
  • Oversaw development and approval of signage plan for Highway 83/Blue Mountain Beach area
  • Amended Redfish PUD to allow for second monument sign along Highway 30A

Redfish Village – Workout

  • Retained by Hillcrest Bank in 2009 to manage Redfish Village through foreclosure and post-foreclosure sale
  • The Redfish asset sold for over $7 million with a one-week due diligence time frame
  • Oversaw day-to-day association, property and maintenance management; remained as President of the Redfish Village Condominium Association Board of Directors
  • Oversaw the winding down of sales and marketing operations and assisted with foreclosure
  • Initiated and oversaw the three-year construction defect warranty review process – 90% resolution to date
  • Assisted brokers with the preparation of their Broker Opinion of Value for Hillcrest and assisted potential purchasers with due diligence, market analysis and site tours

Redfish Village – Post Foreclosure Sale

  • Retained by winning bidder, Patten Sales and Marketing, to ensure a successful implementation of its sales and marketing campaigns
  • During this period Patten sold 53 residences and 25 commercial spaces in less than 60 days, generating over $15 million in sales volume, which was an approximately 100% return on investment for the company
  • Participated as an integral member of executive management team responsible for the development and execution of the Patten business plan for Redfish
  • During sales campaign, was frequently called upon to educate prospective purchasers on the many working mechanisms of Redfish (HOA; construction defect issues; etc.)
  • Currently serves as consultant to Redfish Condominium Association Board of Directors