Tom Graham: The making of a yeoman real estate developer – #10

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I had the pleasure of sitting down with my father, Tom Graham, for a lengthy discussion of his career. The conversation begins with Dad’s early life in 1940s and 50s Rock Hill, South Carolina, we continue through his careers in energy and the nascent software industry, his introduction to real estate development, and his work as what one might appropriately call a wildcatter developer in Atlanta multifamily and single family real estate. We wrap things up with the the beginnings of our rezoning effort for the development of I’Onin the late 1990s in Mount Pleasant.

This could have been several different podcasts: Management Science America and the early software industry, deal structure and financing for the yeoman developer, and the origins of I’On.

Links to things mentioned

Our Town Plans

Coming Home: The Southern Vernacular House (book by Historical Concepts)

Historical Concepts (Jim Strickland’s architecture firm)

A Man in Full by Tom Wolfe

Timestamps

0:00 – intro

3:28 – place of origin, family

10:14 – teachers, schooling, high school

13:22 – what was important to Tom in high school

15:14 – Freeman magazine, development of interest in political economy, college

18:18 – meeting his wife, Emory, macroeconomics

21:40 – getting married

26:20 – Cuban middle crisis, JFK, Vietnam war, the draft

31:14 – early career, software, key punch cards

38:20Management Science America, business consulting, financial software

43:59 – quitting, end of MSA

45:55 – consulting and software as sole practioner, self-employment

47:37 – Charlie Ackerman and getting into real estate

57:21 – going off on his own, Tripple Creek apartments

1:02:36 – Harwood condos

1:05:22 – financing stack 5x deep

1:07:33 – zoning compliance debacle

1:12:42 – converting apartments to condos

1:23:08 – urbanism part of career, infill community development

1:39:18 – possibility of losing everything

1:48:22 – leaving the Atlanta market behind

1:53:37 – the home of an entrepreneur, remembering the characters

1:56:47 – new urbanism, Spring Island, Newpoint 

2:05:08 – doing it again in Charleston, the I’On property, financing

2:13:22 – Mt Pleasant’s desire to build walkable mixed-use communities, zoning

2:21:19 – rolling takedown, pricing structure, option payments

2:31:35 – gathering builders, building beauty, opening up lot sales

2:34:04 – Newpoint concept plans, plan books of ideas

2:37:45 – Jim Strickland and classical architecture 

2:43:59 – showing off beautiful houses, design of Tom’s house

2:48:05 – I’On plan books, vernacular and classical architecture

2:49:17 – conclusion

You can find Yeoman on Spotify, Apple Podcasts, Youtube, and elsewhere.