Case Studies

Harold K. Jordan & Company Inc.

Building for the future

Harold K. Jordan & Company Inc. (HKJ) is a full service general contracting company that specializes in building market-rate apartment communities and affordable housing properties throughout the Carolinas and Virginia. In addition to the company’s general contractor services, HKJ has a hospitality division specializing in hotel construction and a renovation division that redevelops mills, apartments and historic tax credit structures into affordable, energy-efficient, modern dwellings.

Founded in 1989, HKJ is celebrating its 25-year anniversary in 2014. Harold K. Jordan Jr. has served as owner and president of the company since its inception, his vast industry knowledge allows him to provide the leadership and guidance his executives and team members need to complete projects efficiently and effectively.

With two office locations in the southeast – satellite office in Wilmington, N.C., and headquarters in Apex, N.C. – the HKJ team is able to provide North Carolina, South Carolina and Virginia with construction management and renovation construction services.

Harold K. Jordan & CompanyContinuing education

As a forward-looking company, HKJ embraces opportunities to educate its employees and utilize the latest in technology in order to provide the best possible service to its clients. “We are not a status quo type builder, we are a service-oriented business,” says Mike Coats, director of sales and marketing, who has been with the business since 2004. “As the industry evolves, we continue to improve our service through in-house education, updating our technology and ongoing implementation of the HKJ METHOD.”

In order to accurately manage and organize its work, the company provides each client and project with a comprehensive budget analysis of construction costs, construction document review for accuracy and completeness, site evaluation for suitability and critical path method scheduling.

“We work with our clients to establish a partnership with them based on the fact that if their project is successful we are successful,” Mike says. “Our unit turnover process is the best in the industry. We’ve had clients tell us working with HKJ is the best experience they’ve had. It makes us proud that we can facilitate a painless, efficient process for our clients to receive their completed units, punched out and ready for occupancy, in a timely, orderly manner.”

Operating as a third-party general contractor, HKJ looks to local subcontractors to complete projects. “We sub out 100 percent,” says Mike. “In order to best serve our clients, when hiring subcontractors we have to approach it from a competitive basis and also ensure we have properly scrutinized and selected the best team for the project.”

Meeting tough deadlines

In recent years, the HKJ team has been faced with harsh weather and tough deadlines, but its schedule-driven mentality has allowed the team to finish jobs on or before deadline dates. With a large number of tax credit and U.S. Housing and Urban Development (HUD) funded clients, staying true to the clients’ budget and time constraints are a necessity.

Among the company’s most recent tax-credit projects is an 80-unit senior housing project in Raleigh that HKJ completed in December 2013 – nearly three months before deadline. “When we started the project we were able to break ground in late February 2013, but heavy rainfall extended the schedule to the end of March 2014,” he explains.

With 24/7 around-the-clock effort, HKJ was able to turn the project over to the client by the end of 2013. “Even though we had the extension, it didn’t matter,” continues Mike. “Because of the tax credit funding requirements, we had a personal and professional commitment to our client to finish the project by the end of 2013.”

It is evident HKJ is doing something right. “Our company is best known for our word,” says Mike. “We meet our commitments and stand behind our work.” And Mike’s word is backed by satisfied client testimonials.

“They made a promise to our company and our financing partners to meet our schedule and they did it,” says Natalie Britt, vice president of rental development for HKJ’s client. “When they say, ‘Promises made, promises kept since 1989’, they mean it.”

HKJ has completed nearly $300 million in HUD funded multifamily projects and has a long and successful track record with the local HUD agency. Federally-funded projects require substantially more paperwork than a privately funded project and with many clients in the tax credit and HUD funded markets, it is critical the HKJ team stay abreast on special project requirements.

“For tax credit projects whose design and construction are controlled by the Qualified Allocation Plan [QAP], we work with this document on a regular basis and have intimate knowledge regarding the details and application of the document,” Mike details.

Manifesting sustainability

HKJ brings a vast wealth of general contracting experience to its clients’ projects and is taking strides to make its construction projects more eco-friendly. The company is committed to minimizing waste and efficiently using natural resources in a way that has the least impact on the environment.

“It begins with our people,” says Mike. “All our team members are educated and trained in the requirements and implementations of Leadership in Energy and Environmental Design [LEED] certified construction projects, and we have five in-house LEED Accredited Professional employees.”

HKJ is skilled in providing green building services and has completed projects that are built to a prescribed standard, such as Earth Craft, Healthy Homes and LEED certification.

From the LEED-certified projects the company has completed, it has adopted a number of energy-efficient and ecologically friendly practices as standard operating procedures, including waste material diversion from landfills, setting up recycle bins on the projects and utilizing energy-efficient framing practices and duct leakage tests.

Growing business

Despite fluctuations in workload during the recession, HKJ has been able to bounce back in full force – now employing 22 people and generating over $50 million in annual revenue. “From 2008 to 2012, it was tough,” Mike details. “We went from $40 million down to $15 million, but we’ve finally turned things around. The multifamily market is stronger and we’ve been very fortunate.”

Mike also attributes its success through rough economic times to the company’s employees. “It’s the dedication our people have to their work that got us through and it’s helping us to continually add clients,” he elaborates. “The construction business is hard; our workers have to leave their homes and families, live out of town where the projects are and come home on occasional weekends. We’re very proud of the people we have to build our work and the fine work they produce.”

When it comes to measuring the success of the company, according to Mike, HKJ’s success is reflected in how much the team continues to improve each year. “We’re always striving to work better and more efficiently,” Mike continues. “The word about HKJ and the HKJ METHOD is getting out and we’re seeing a lot of repeat business. New clients see our work and how well it’s progressing; more exposure in the marketplace now means more activity in the future.”

The company projects revenue growth for 2014 and 2015 to be the best in its history. As the company’s reputation is beginning to flourish in the Southeast’s public and private building sectors, HKJ plans to expand its client base by ensuring current clients are completely satisfied, continuing to tweak its processes for every possible improvement and providing the best product available for the construction dollar. “If we continue to do this right, new business and profits will take care of themselves,” Mike declares. All in all, Harold K. Jordan & Company Inc. has a promising year ahead.

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