Lure4.2017

IN PERSON
Steve Emerson
Business-minded architect taking
on historic renovations and
reviving downtown Cedar Rapids
BY RUTH PAARMANN PHOTO BY SHUVA RAHIM
Steve Emerson stands inside the newly renovated
Smulekoff’s building in downtown Cedar Rapids.
rawing and drafting were among
Steve Emerson’s favorite activities
as a kid.
The Marion native always wanted to be
an architect, so he pursued that dream at
Iowa State University. After graduating and
receiving his architecture certification, he
also saw the value in expanding his skill
set by completing the University of Iowa’s
evening MBA program.
“At ISU, I was so goal-oriented. The other
architecture students were super artistic.
I was detailed and thorough, but not so
strong on the design flair,” Mr. Emerson
said. “My strength is the business end – the
practicality side. I do rigid, fast deadlines
well. We hit them and make sure things are
done right.”
A shrewd business sense has earned
Mr. Emerson a place as one of the primary
property owners in downtown Cedar
Rapids. His 11-year-old firm, Aspect
architecture:design, employs more than 30
people, with 20 in construction. In addition
to providing architecture services, the company
maintains 30 properties.
Around 1999, Mr. Emerson began
buying one property at a time, performing
much of the demolition and construction
work himself. Family and friends pitched
in, and Mr. Emerson secured tenants.
“It was a fun hobby on the side,” he said.
“I found buildings that had been on the
market for a while, and I negotiated super
hard on price. I had the ability to walk away.
If I bought a building under contract, I used
that time to find tenants.”
That formula paid dividends, allowing
him to establish cash flow. It also gave him
valuable experience.
“I get a lot of business because of my
construction background. I look at life cycle
costs, durability, efficiency, use of space,” he
said. “I think of how the owner can repurpose
the building when they move on.”
Restoring Property Health
Many structures Mr. Emerson refurbishes
are vacant, but even occupied buildings
have issues. The Town Centre office
building was such a case, with the previous
owners in bankruptcy. Mr. Emerson
bought it specifically to make it healthy
again, making sure tenants had someone to
communicate with about leases and other
concerns. (He has since sold his stake.)
In a much more demanding project, he
stripped the Paramount office building
down to the concrete and > PAGE 38
16 LUREOF THE CITY