Modern Home Builder - Winter 2018 - 60
ZOM's founder, Joost Zyderveld, hailed from the oil and gas
industry. As an oil executive, he raised money in Europe for oil
ventures and speculative energy, but became disenfranchised with
the industry following the energy crisis of the 1970s. He followed
the Walt Disney Co. to Orlando, where Walt Disney World had
opened earlier that decade and created a huge demand for real
estate developments in central Florida. Zyderveld founded ZOM
in 1977 and used his investing connections from his days in the oil
industry to raise money for projects.
"We started initially as a suburban garden apartment builder in
very high-quality, high-value bedroom communities," West says.
"We evolved over time into more and more urban types of developments: mid-rise and high-rise-type locations."
The company began to focus on locations with a pedestrian value - places residents could conveniently access without a car. "As
we became more and more urban with our bias for what we wanted to build, that's what customers indicated they wanted," West
continues. "The projects that we do that are the most dynamic are
the projects in urban places." To create those projects, it was imperative that ZOM evolve its capital relationships.
Florida remains ZOM's primary market, but it also is working on projects in
Washington, D.C.; Texas; Charlotte, N.C.; and Chicago.
MARKING ITS 40TH
In 1997, Zyderveld sold ZOM to fellow Dutchman Hans van
Veggel, who transitioned the company from a model where it did
syndications of equity in Europe to raising funds from domestic
institutions such as pension funds. The change helped to solidify
ZOM's funding sources and give it a strong foundation. ZOM
is celebrating its 40th anniversary this year and will mark the
milestone in May with a company wide team-building scavenger
hunt and gala in Miami and a get-together at the Fort Lauderdale
It's fitting that ZOM would celebrate its anniversary in Miami.
The city's downtown is home to many of ZOM's largest rental
projects, including two still in development. Solitair, a 50-story,
438-unit building in the Brickell neighborhood will open in December. In March, ZOM will open Avant at Met Square, a 43-story, 391-unit in downtown Miami. "They're top of the market, lux60
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