Woodard Development, a full-service commercial real estate development firm, has been at the forefront of much of downtown Dayton’s resurgence.
Woodard has developed several urban infill projects, including Water Street, Delco Lofts, Lock 27 Brewing, The Steam Plant, Fairfield Inn and Suites, Centerfield Flats, 444 E. Second Innovation Hub and Avant-Garde.
Jason Woodard, principal and founder of Woodard Development, runs down 2022 and looks ahead at the potential for next year.
How would you assess your company’s performance in 2022 and what were some of the highlights?
2022 was a tremendous year for us. In addition to celebrating our 10 year anniversary, We had several large projects that are near completion, made several property acquisitions and welcomed new tenants like Altafiber, Henny Penny and others. We also had a great year adding talented professionals to our team, including Todd Duplain who joined us as a partner and will help drive long-term growth for the organization.
What’s your outlook for 2023?
2023 is a bit mixed. I think there will be some turmoil as we feel the full impact of rising rates but also expect to see prices start to trend downward. We still see a lot of optimism from our clients, which is very positive, however it is hard to ignore the uncertainties in the market. In addition to a good pipeline coming into the year, We believe there will be some unique opportunities that result from that uncertainty and we are keeping our eyes open to be in a position to react to those opportunities.
What are the biggest challenges you’re currently facing and how are you addressing them?
The rising interest rate environment is the single biggest challenge as we sit here today. The Federal Reserve has indicated the rising rates are aimed at slowing demand which ripples across all facets of our business. We cannot do anything to directly counter the rate increases but maintaining good relationships and communication with our investors, lenders and clients will allow us to make sound decisions
What are you most excited about for the new year?
We have added some great talent to our team over the past two years and we have become a very efficient team. We have a wide range of opportunities in front of us and the talent to exist at a high level. The creativity that our team has shown gives me a lot of confidence heading into the new year. Due to the talent and efficiency of our team, we aren’t constrained in terms of size of project, product or location. We are looking forward to another great year
What’s your favorite Christmas/holiday memory or song?
When I was younger I wanted a brand new BMX bike for Christmas. Instead of that name brand bike, my dad built a bike for me with individual components. It didn’t have the decals or name on it, but it was the best bike in the world.
What’s your favorite Christmas/holiday movie?
Christmas Vacation