ULI Pittsburgh: Why Restaurants Fail? A Conversation with RE360 Joe Calloway

When

2022-02-23
2022-02-23T16:00:00 - 2022-02-23T17:30:00
America/New_York

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    Where

    Arlington Beverage Club Will open in a new window 1226 Arlington Ave Pittsburgh, PA 15210 United States
    Around 60% of new restaurants in the US fail within the 1st year. Why Do They Fail? Come and join us for our next ULI Pittsburgh Young Leaders Group (YLG) event on Wednesday, Feb 23, 2022. We invited RE360 founder Joe Calloway to share his unique insight on the economics of owning a restaurant, and why it is sometimes better to be a real estate owner. The door opens at 4 pm. Snacks and drinks will be provided.

    Arlington Beverage Club 1226 Arlington Ave Pittsburgh, PA 15210 United States

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    Speaker

    Speaker

    Joe Calloway

    Re360

    Joe Calloway was born in and raised in a single-parent home, a small, low-income apartment in Mt. Oliver, PA. He grew up immersed in the struggle and decline of his community. Crumbling infrastructure mirrored the diminishing opportunities plaguing the families and businesses of his surroundings. In so many ways, the odds and statistics were that he’d never be able to rise above it all. Joe enlisted in the U.S. Navy in 1997 in the hope that it would give him a path and direction toward something more than where he came from. After a number of years in overseas service, in 2004 at the age of 24, Joe used his reenlistment bonus of $15,000 to buy a single house in Pittsburgh in his old neighborhood. This revealed the true life-changing path for Joe; transforming that property turned into transforming his vision for his own future. Joe spent the next five years educating himself through the MBA program at University of Pittsburgh and a new career in real estate development (first as an acquisitions analyst and then as Director of Real Estate for Landmark Properties Group) both served as the knowledge-base he needed in 2009 to form RE360, a real estate investment company focused on transforming disused properties into livable homes for the residents of his childhood streets and communities like the Southside, Allentown, Knoxville, Beltzhoover, Mt. Oliver, and more. The work in Allentown in particular saw the transformation of an entire business district from mostly vacant to almost entirely occupied. What started as a single property grew to hundreds of properties and multiple companies. Now the work of Joe Calloway spans over 500 residential and commercial rental properties under the ownership of RE360. In all this growth, though, Joe never lost track of his roots or his heart for his hometown. This has meant that his work has always had to be more than just fixing houses; it must be actual community development. With this in mind, Joe has mobilized his team to attract business and cultural leaders who might have otherwise forgotten about the hilltop neighborhoods. This has meant transforming more than just the homes; RE360 is filling and growing the main streets, too. Leveraging his leadership in the area, Joe directs the time and resources of his companies to support youth programs as well as community events and festivals. Not only that, he also dedicates his time to veteran leadership programs and other similar nonprofits that benefit the veteran community, the business community, and Pittsburgh as a whole. The future of Joe’s work is turning toward transforming more neighborhoods, with the next targets already in sight. Growing the scope of his company to include more than just real estate is also in motion; working alongside established restaurateurs to create culinary destinations means bringing new excitement and energy to the hilltop. Mount Oliver Bodega was the first of these ventures which brought a buzz to the Hilltop that it has never seen before. Coming in 2022, Joe will open Arlington Beverage Club in Allentown just behind the RE360 headquarters as well as a brand new and exciting concept in Mt. Oliver. Relentless hard work, vision, ingenuity, and a willingness to persevere where many don’t even bother starting: that’s the story of Joe’s life now.