April 22, 2025

Reflections on a Landmark Career – A Conversation with Lou Haddad

by Beth Hester at CoVaBIZ Magazine

Louis Haddad has spent the past 40 years with Armada Hoffler, shaping the industry and contributing to the region’s growth. We caught up with him recently, and asked him to reflect upon his career, the real estate industry, and what comes next.

CoVaBIZ: When you began your career with Armada Hoffler back in 1985, you were a construction superintendent. What in your background prepared you for that job, and what did you most enjoy about it?

Haddad: I began my career as an unskilled laborer at a large construction firm based in the DC area. Progressing through the ranks into management, I ultimately joined Armada Hoffler four years later as a superintendent. Learning the business from the ground up gave me a good understanding of the complexities of large-scale construction and ultimately, commercial real estate. The comradery amongst the tradesmen while working toward a common goal made for very rewarding experiences in those early years.

In those early years, did you have a career trajectory already in mind, or did the way you envisioned your role with the company evolve over time?

As someone who left college early, I was concerned that my lack of formal education would limit my career trajectory. That fear drove me to voraciously read all I could about the real estate business and log large amounts of overtime. Once I joined Armada Hoffler, I realized the sky was the limit due to Dan Hoffler’s merit-based philosophy for promoting personnel into leadership positions. I became president of the construction arm at a relatively young age. The commercial divisions were added a few years later and I ultimately became CEO of the firm in 1999.

Not everyone spends 40 years with the same company. What was it about the Armada Hoffler organization that made it the right fit for you over the decades?

The first thing that comes to mind is the great partnership I’ve shared with Dan Hoffler, our founder, and Russ Kirk, who was an important mentor to me. We are very proud of the fact that many employees have spent virtually their entire careers with the company. Once I became CEO in 1999, I was essentially given free rein to take the company in exciting new directions.

When you became CEO and helped shepherd the company through the transition to a publicly traded REIT, what was that experience like for you? What were the signals that indicated that it was time to make that decision?

Taking the company public was at once, expensive and tedious; yet, thrilling and rewarding. There are stark differences in the management of public versus private companies. The complexity and attention to detail required by NYSE investors can be daunting. The scrutiny of our actions is magnified by the transparency required by the public markets. This leads to heightened levels of accountability for the management team. These aspects make for an exciting work environment where teamwork is paramount, and accomplishments are celebrated.

By 2012, we had built a tremendous young team at Armada Hoffler and we felt that by going public we could incentivize that next generation to stay together for the long haul just as we did. I’m happy to say that thesis has proven to be correct.

Would you share a little about the Town Center project and the way partnerships were forged to bring it to fruition?

Town Center of Virginia Beach was the brainchild of Gerald Divaris and the other founding members of the CBDA. That group had worked on the pre-development of the project for over a decade before we got involved. That said, it wasn’t until Armada Hoffler provided the necessary development expertise and financial wherewithal that the project could be launched in 1999. The partnership we forged with the City of Virginia Beach was crucial to the success of Town Center. This could not have been accomplished without the vision and dedication of city manager Jim Spore and the solid support of Mayor Meyera Obendorf and Vice Mayor Louis Jones.

How would you describe your process when handling tough decisions particularly during economic downturns or shifts in the marketplace? What principles have guided your leadership style?

I’ve always tried to practice the principles of servant leadership. The major tenet of that methodology being to lift the people around you by giving them the support and tools necessary to succeed. This approach can be transformational for employees as they often find themselves able to accomplish more than they thought possible.

A key to good leadership, particularly in difficult times, is to avoid reactionary decisions. Rash actions tend to exacerbate issues rather than resolve them. I’ve found it far better to thoughtfully consider all options, get other perspectives, and then act decisively.

What’s your perspective on the way that the real estate industry has changed since you first started out?

The basic principles of commercial real estate have remained consistent over the years. Location, market knowledge and demographic understanding are prerequisites for success. However, with the level of competition in the marketplace today; financial savvy, use of data analytics, and up-to-date technology are necessary ingredients for sustained growth.

Is there any advice you’d give to new professionals entering the real estate field today?

I would advise anyone contemplating a real estate career to be a student of the game: read as much as you can on the subject and seek out experienced peers with good questions, a willingness to listen, and to take lots of notes! In today’s world, a good working knowledge of finance and technology are as important as a strong work ethic and good people skills. Of course, unwavering integrity is perhaps the most important aspect of long-term success.

What’s the best piece of advice you ever received, and who gave it to you?

My father continuously encouraged me to be a “force for good in the world” to take every interaction, business or personal, and leave it better for your presence. I try to practice that philosophy daily and it has served me well throughout my adult life.

What’s Next?

The prospect of considerably more free time is incredibly exciting to me. Twenty-five years ago, my wife Mary and I created a family foundation that focuses on supporting at-risk children. We have prioritized educational programs and supported organizations addressing critical issues such as homelessness, learning differences and human trafficking. With my retirement, we anticipate continuing to expand our efforts in this field. I’m hopeful that my business experiences will prove valuable to organizations dedicated to enhancing our community. Lastly, although we’ve enjoyed our share of great vacations, extended travel has been nearly impossible for 40 years, due to work obligations. Mary and I are looking forward to planning some long overdue adventures.