In 2008, having opened the final phase of Chez Elan – Fine Apartments and the new Hampton Inn & Suites – Navarre, Southern Ventures re-opened its Pinedale Center offices after an extensive remodeling program that yielded space for its various operations, housed in an iconic Craftsman styled building. That same year, of course, also brought new economic challenges as the national real estate market faltered and some of the nation’s largest financial institutions failed.
As the financial crisis expanded, its effects were felt across virtually all industries, especially the commercial real estate development business that had become the core of Southern Ventures’ business operations. The company responded with an increased focus on management operations of our existing portfolio of multifamily and hospitality properties with a drive to increase our efficiencies while continuing to deliver quality service.
In order to maintain some degree of ongoing construction while funding was unavailable for large developments in Florida, Southern Ventures decided to return to our roots by once again building single family homes in Crestview, Niceville, Fort Walton Beach and Milton, Florida in projects such as Swift Creek, Swift Creek Plantation, The Preserve and Shady Glen Cove.