Company: Washington Street Properties, Watertown, NY
Company Description: Washington Street Properties is a commercial real estate development and management company located near Fort Drum in the City of Watertown, New York. The Company has experienced tremendous success while spearheading local economic revitalization efforts through value-added real estate investments in a wide variety of assets, including apartments, office buildings, retail and mixed-use properties.
Nomination Category: Management Categories
Nomination Sub Category: Executive of the Year - Real Estate

Nomination Title: Brian H. Murray, Founder and CEO

Tell the story about what this nominated executive has achieved since January 1, 2014 (up to 650 words). Describe the impact he or she has had on your organization. Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms.

In 2014, Brian Murray, CEO and Founder of Washington Street Properties, successfully executed a series of innovative community development projects involving the turnaround of distressed properties. With an emphasis on integrity, excellence, value, and innovation, Mr. Murray has led his business to success while continuing to give back to the community through his redevelopment projects, volunteer work, and community service.

In early 2014, Mr. Murray completed restoration of the neglected Solar Building in Watertown NY, a 70-unit apartment building purchased at foreclosure auction that the local newspaper called a “haven of criminality.” The criminals were evicted, security and fire systems installed, apartment units refurbished, and common areas renovated. Mr. Murray took the unusual step of temporarily relocating the company’s offices into the building for the duration of the project. The on-site presence demonstrated Mr. Murray’s commitment to the project vision and ultimately ensured its success. The building was completely turned around and now provides safe, healthy, and reasonably priced housing. In September 2014, Community Investor Magazine highlighted the Solar Building project as part of their cover story, which profiled Brian Murray and Washington Street Properties for their community investment approach to real estate.

Mr. Murray launched two other significant turnaround projects in 2014, including the renovation of 28 apartment units in a 19th century converted Victorian, as well as the acquisition of a dilapidated hotel for conversion to studio apartments. When complete, the converted hotel will offer quality, economical apartments for students and soldiers serving at nearby Fort Drum. Early indications are that this project will be another success story—there is a wait list for prospective tenants as the work nears completion.

Mr. Murray is also spearheading the ongoing restoration of the historic Lincoln Building—an iconic 50,000 SF mixed use property located on the Public Square in downtown Watertown, New York. In August 2014, Mr. Murray’s efforts on the Lincoln Building project were recognized by Congressman Bill Owens who presented Mr. Murray with a flag that was flown over the U.S. Capitol.

During the spring of 2014 Mr. Murray ran his business while continuing to serve as Associate Professor of entrepreneurship at SUNY Jefferson Community College. While serving at the College, he taught entrepreneurship courses and co-chaired the College’s Strategic Planning Committee. In May 2014, Mr. Murray became an adjunct professor so as to reduce his teaching load and allow him to dedicate more time to his growing responsibilities as a CEO.

Mr. Murray serves as a mentor to numerous entrepreneurs within the community, as well as for employees of Washington Street Properties. Mr. Murray is a mentor for Allison Carlos, who is the Director of Business Development at Washington Street Properties. As a result of her professional achievements, Ms. Carlos was honored in 2014 by Northern New York Business Magazine as the youngest member of the Magazine’s annual 20 UNDER 40.

In 2014, Mr. Murray served as an active member of the Citizen’s Advisory Board, where he worked with other community leaders to help advise local government officials on economic development issues. Recent volunteer speaking engagements included the 2014 EMERGE NNY Young Professionals Summit on Trends in Business and Economic Development, and the 2015 Economic Forecast hosted by the Greater Watertown - North Country Chamber of Commerce.

Throughout 2014 Brian Murray served as the leader of Washington Street Properties, managing the company’s $30M+ portfolio at the highest level. In August 2014, Inc. magazine ranked Washington Street Properties No. 1599 on the annual Inc. 500|5000 with a 3yr growth of 266%. In June of 2014 Washington Street Properties was presented with a Gold Stevie® Award in the Company of the Year – Real Estate category. In January of 2014, Washington Street Properties was honored as Downtown Business of the Year by the New York State Small Business Development Center and the local Downtown Business Association.

In bullet-list form, briefly summarize up to ten (10) of the chief accomplishments of this nominated executive since the beginning of 2014.

• Completed restoration of historic Solar Building.
• Featured as the cover story for Community Investor Magazine.
• Launched two new turnaround projects- restoration of a converted Victorian, and conversion of a distressed hotel to studio apartments.
• Recognized by Congressman Bill Owens with a flag that was flown over the U.S. Capitol for historic Lincoln Building project.
• Served as Associate Professor at SUNY Jefferson Community College and co-chaired the College’s Strategic Planning Committee.
• Served as a mentor to many, including employee Allison Carlos, who was selected for regional 20 UNDER 40.
• Served as volunteer in roles such as the Citizen’s Advisory Board, where he advised local government officials.
• Volunteer speaking engagements such as the EMERGE NNY Young Professionals Summit, and the Chamber of Commerce Economic Forecast.
• Led company growth resulting in Inc. magazine ranking of No. 1599 on the Inc. 500|5000.
• Provided leadership resulting in multiple local and national company awards and recognition.<