Other than providing diverse revenue streams for The Johnson Group, the real estate holdings of OTO Hospitality, JDA Multifamily, and JDA Self-Storage also provide opportunities to share resources and knowledge. In times of economic challenges and instability, this allows The Johnson Group to not only streamline the organization more efficiently, but also helps preserve valuable resources by keeping them productive and allocating them where they are most needed.
A good example of this is the recent collaboration of OTO’s development team and JDA’s multifamily and self-storage teams on the West Coast. At the Coastline Ventura project in California, JDA Multifamily was encountering multiple challenges with the general contractor and utility companies that were causing delays to the project. OTO’s development team stepped in and reorganized the project to bring focus to the critical tasks at hand. Within 2 months, the project had been turned around and the much-needed utility work is now completed. The project successfully got its permanent gas and electric services and the property saw its first tenants move in during the month of August. In addition, the project’s final completion date is now three months earlier, estimating to be completed in January 2021. This would not have been possible without the leadership and additional resources provided by OTO.
JDA’s Self-Storage team also ran into challenges in California. When issues arose with subcontractor management, extensive rework and staffing reorganization was thought to be imminent. Fortunately, OTO had available resources due to the slowdown caused by COVID-19 and was able to dedicate time and resources to overcome both challenges. The construction issues at Aliso Viejo are now more than 50% repaired, and staff has been brought in to fill the voids.