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Morgan Management builds executive team

As Morgan Management LLC adds to its local workload, including redeveloping buildings in the city for projects such as a charter school and luxury apartments, the Perinton firm also has expanded its management team.

The company this week announced Ken Hall as its chief financial officer, effective immediately.

Hall previously served as vice president and controller at Home Properties Inc. That local firm was sold in October to LSREF4 Lighthouse Corporate Acquisitions LLC, an affiliate of Lone Star Real Estate Fund IV L.P., in a nearly $7.6 billion all-cash deal.

At Morgan Management, Hall oversees corporate finances, leads the accounting team and is spearheading a companywide systems upgrade initiative. He replaces Sharon Zinser, who is now chief financial officer at APM Management LLC in Cleveland.

Robert Morgan, the company’s founder and CEO, said Hall’s experience and expertise make him the right person for the job.

“Growth has been a constant for Morgan Management over the past couple years, and, with growth, comes the need to have the right professional in the right role,” Morgan said.

Hall, who lives in Geneva, Ontario County, is a board member on St. John Fisher College Accounting Advisory Board and is active with the Rochester Chapter of The New York State Society of CPAs. He is also a recipient of the Rochester Business Journal’s Forty Under 40 Awards.

Hall’s appointment follows the company’s announcement of its addition of Scott Creswell in the newly created chief operating officer position. Creswell, who comes to Morgan Management from the Bonadio Group where he has worked for the past 28 years, is slated to start as COO on May 2.

Morgan Management, founded in 1976 by Robert Morgan, owns and manages apartment communities, commercial buildings, and self-storage facilities.

The firm has more than 140 properties in 14 states, totaling over 30,000 apartment homes. Morgan Management employs more than 1,300 workers, including roughly 500 in the Rochester area.

Morgan said the business is growing locally and outside the region. He is seeking tax incentives for three of its local projects from the County of Monroe Industrial Development Agency.

Those projects are:

  •  A $32.4 million mixed-use building with luxury apartments and commercial/retail space on Court Street along the Genesee River;
  •  A $22.6 million redevelopment of a 2.51-acre site on University Avenue that is operated and owned by a non-profit veteran’s organization, Monroe Voiture No. 111 Memorial Home Inc. The building will be acquired by a Morgan entity, renovated and leased to Monroe Voiture.  Additionally, Morgan will be constructing a four story, 115,200-square-foot, 99-unit apartment building at the University Avenue site, with interior parking spaces and a surface lot;
  •  A $3.5 million project at the former Harris Corp. building on Humboldt Street. Roughly 127,800 square feet of the 48,800-square-foot building will be converted into a charter high school and leased to Vertus Charter School. The rest of the building space will be used for mixed-use purposes.

Morgan Management’s other work includes several projects with Christa Development Corp., including renovations to the Century Club on East Avenue and development of the Canandaigua Finger Lakes Resort.

The two recently purchased the Hyatt Regency Hotel downtown with $15 million worth of renovations planned at the site.

Morgan Management is also involved with Tower280 with Buckingham Properties LLC.

In addition, the firm is working with DHD Ventures LLC on redeveloping the Gannett Co. Inc. building on Exchange Street downtown.

The firm also has partnered with LeChase Construction Services LLC on Pinnacle North, a mixed-use development on 21 acres near the shore of Canandaigua Lake. Developers expect the first phase of the roughly $120 million project to open in early 2017.

2/19/2016 (c) 2016 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email rbj@rbj.net.


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