What’s Next? Foreseeing the Drive and Demand in an Ever-Changing Real Estate Landscape with Jon McCulloch, CEO of Belgravia Group
During their conversation, Phil and Jon talk about his start with the company, growth, and responsibilities as CEO. Jon also speaks on the bread and butter of what makes Belgravia, a smaller conglomerate, a frontrunner in the Chicago condo market and deep dives into how they survived and came out fairly unscathed in the economic downturn of 2008 and how they are navigating the current market. They touch on macroeconomics, failing banks, interest rates and where the market stands and the demand and desire for new product, as well as Belgravia’s expansion into the West. Jon provides his thoughts about the challenges in the market and what goes into the decision-making process in choosing and building a project. The pair also discuss distressed investments in office and the fluctuation in occupancy and funding in older spaces, and the wait and see game. Jon McCulloch has been with Belgravia Group since 2004 and serves as the Chief Executive Officer. He is responsible for the company’s residential developments and oversees the company's debt and equity needs. He also is a Principal at Belgravia affiliate, Lakewest, Inc., as well as a co-founder of Lakewest Venture Partners, and a Venture Partner at Dundee Venture Capital. He is also an avid soccer fan and member of the U.S. Soccer Federation’s Chicago Development Council, which efforts support increasing access and resources to accelerate the development of youth soccer players and their coaches. Belgravia Group is an industry leader and vertically integrated company with divisions for real estate development, sales and marketing, interior design, accounting, customer service, and a full range of real estate legal services. Belgravia recently expanded to the Arizona market, with Portico, a collection of luxury condominiums.