Rhodes Development Group, Inc.
|RDG was the development consultant for the 266,000
sq.ft. Penn National Insurance Office Tower located on Market Square in
||RDG developed the 54,800 sq.ft. Corporate
Headquarters for Keystone Financial, Inc.
RDG's DEVELOPMENT PROCESS
Successful real property development requires five basic services:
• Project coordination
• Financial analysis and feasibility
planning and approvals
• Design and construction
As coordinator of the entire project, RDG establishes realistic goals and
expectations at the outset of the development process. Project guidelines are
determined by careful evaluation of the type and amount of current and future
space needs, an analysis of available sites, and an understanding of local
regulations. As the project evolves, RDG is responsible for coordinating every
aspect of its implementation, including design, scheduling, costing, team
meetings, governmental approvals, and construction.
Financial Analysis and Feasibility
When space requirements have been determined and a site has been selected,
RDG develops a capital budget which includes the cost of land acquisition, site
development, and construction, as well as indirect costs such as architectural,
financial, closing, development, and marketing. RDG will also prepare an
operating budget and review the debt and equity needs of the project.
At this time the development team considers various options regarding
ownership and financing. Options may include a joint venture, a build/lease,
lease with an option to purchase, or development for a fee.
Site Planning and Approvals
This phase requires an in-depth site analysis based on the client's specific
requirements. It may entail a Phase I Environmental Study, a permit analysis, a
review of the subdivision process, an examination of the available utilities,
and a study of local building codes. In certain circumstances, RDG may have
suitable existing space or a building designed and approved for immediate
Design and Construction
Regularly scheduled project meetings, during design and construction which
involve the future tenant, are held to establish the team relationship that is
critical to achieving previously agreed-upon goals and objectives.
Property management specialists become involved from the outset of the
development program providing up-to-date operating costs and recommendations for
the efficient operation of the building. An early dialogue with the client to
determine long-term operating goals is encouraged.
RDG's DEVELOPMENT STYLE
RDG's development stlyle is characterized by commitments to:
Flexibility...RDG is prepared to function as owner, partner, or
consultant in property development. This flexibility provides for an atmosphere
of innovation in each of the firm's endeavors.
Reliability...From the earliest cost estimates and schedules to
financial packaging, RDG works hard to ensure that accurate and complete
information is available to the development team at each step in the
Responsiveness...Whether it is in structuring a specialized
transaction or in giving timely answers to a client's questions, RDG believes
responsiveness is one of the keys to sound management decisions.
Long-Term Relationships... RDG forms team relationships involving
owners, tenants, financial institutions, and investors to generate sustained
growth over the long term while simultaneously building value and contributing
to the community.
RDG's DEVELOPMENT EXPERIENCE
RDG has extensive experience in all phases of real property development with
a proven record of accomplishment. Through its affiliates and principals, RDG
• Developed and built 636,000 sq.ft. of warehouse space and 720,000 sq.ft. of
• Developed and/or acquired approximately 1,500 apartment units throughout
Some of our projects:
|Penn National Insurance Co.
|Centre Medical Sciences Bldg.
||State College, PA
|Delta Dental Headquarters
|Penn State Community Health Center
|Nuclear Support Services, Inc.
|Gettysburg Internal Medicine Bldg.
Some of our warehouse projects:
|D.D. Jones Building
|7159 Grayson Road
OUR TEAM OF PROFESSIONALS
JOHN H. RHODES Chairman of Rhodes Development Group, Inc.
Mr. Rhodes is a
1962 graduate of The Pennsylvania State University with a Bachelor of Science
Degree in Business Administration with a major in Real Estate and Finance. Mr.
Rhodes has over 43 years experience as a commercial real estate lender,
developer, manager and investor.
His knowledge of the Central
Pennsylvania real estate market and his understanding of the economics of real
estate transactions have been recognized by his peers. This is evidenced by Mr.
Rhodes having spoken to the leading real estate associations including The
Mortgage Bankers Association of America, The American Institute of Real Estate
Appraisers, and the National Association of Apartment Developers and Owners. In
addition he has had articles published in periodicals such as "Mortgage Banker"
and "Apartment Construction News".
LAWRENCE M. MEANS, III, CPM,
President and Chief Executive Officer of Rhodes Development Group, Inc.
Means is 1979 graduate of Bucknell University with a Bachelor of Science Degree
in Business Administration and a 1984 graduate of Southern Seminary with a
Master of Divinity Degree. Mr. Means joined the company in January, 1989 and has
attained the designation of Certified Property Manager from the Institute of
Real Estate Management. Mr. Means has over twenty years experience in
development and management of real estate.
ERIC KUNKLE, CPM,
President and Chief Operating Officer of Property Management, Inc.
Kunkle is a 1991 graduate of Pennsylvania State University with a Bachelor of
Science Degree in Accounting. Mr. Kunkle joined the Company in 1991. He oversees
the daily operations of the Commercial Management Division. In addition, he is
the liaison and coordinator for the information systems throughout our entire
MARK J. STEPHENS, CPA, MBA, Vice President and
Mr. Stephens is a 1980 graduate of Shippensburg University with a
Bachelors of Science in Business Administration, Accounting, a 1988 graduate of
York College of Pennsylvania with a Masters of Business Administration and a
1994 graduate of the Stonier Graduate School of Banking at the University of
Delaware. Prior to joining Property Management Mr. Stephens was Vice President
of Finance and Accounting at Hersha Hospitality Management and has held various
financial leadership positions previously. Mr. Stephens is responsible for
financial management and strategy of the Company.
DROZDOWSKI, CPM, Senior Vice President-Manager Residential Division
Mr. Drozdowski is a 1987 graduate of Ohio State University with a
Bachelor of Science Degree in Natural Resources, Park Administration. He joined
the company in June 1996 and has over fifteen years of professional experience
in the areas of senior housing, market-rate multifamily housing, and subsidized
housing management. Prior to his employment with Property Management, Inc., Mr.
Drozdowski was the Director of Senior Housing Management with the Redevelopment
and Housing Authority of Cumberland County. Mr. Drozdowski served as President
of the Apartment Association of Central Pennsylvania (a chapter of the National
Apartment Association) from 2000 to 2002, and Treasurer 2002 through 2006.
DAVID E. DYSON. Senior Vice President and Controller of Property
Mr. Dyson is a 1980 graduate of Temple University with a
Bachelor of Arts Degree in Accounting. Mr. Dyson joined PMI in June, 1980 and
handles the daily operations of PMI's internal network of skilled employees. His
"hands on" approach and attention to detail ensures that proper controls are in
place for properties we manage.
SUZANE M. NEIMAN. Corporate
Mrs. Neiman is a 1990 graduate of Old Dominion with a Bachelor of
Science Degree in Mathematics. Mrs. Neiman joined our company in September 1996.
Since that time her duties have included division secretary, general accounting,
payroll processing and developmental accounting.