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18 OCTOBER 2024
OWNERS COUNCIL Q&A
LOUIS D. MARCH
PRESIDENT
MARCH ASSOCIATES CONSTRUCTION INC.
The fi nancial markets move
cautiously, and we expect
improvements, but not at a
fast pace. We’ll have to be
patient as the environment
adjusts.
Besides the capital markets,
what is a major challenge
that the industry still faces?
A major challenge is
character, especially during
tough market conditions.
When times are hard, it’s
a true test of integrity. I’ve
seen some fi rms rise to the
occasion, showing strength
and commitment, while
others have faltered. I can’t
wait to give our best to the
clients and partners who have
shown resilience through
these diffi cult periods.
They’ve passed the character
test, and they’ll be the ones to
thrive.
What can the state or
federal government do to
help?
Honestly, the best thing
the government can do is
to reduce interest rates to a
level that’s sustainable for
growth. Beyond that, it’s really
about lett ing the markets
operate without too much
intervention.
Where do you see
opportunity outside the
Garden State?
Upstate New York is showing
promise. We’ve seen some
positive performance there.
It’s a market to watch.
How is technology helping
your business these days?
Technology is fully integrated
into every part of our
operations. From billing
to payment management,
and even drone deployment
for site inspections, we’re
leveraging tech to stay
effi cient and precise. It’s
become an essential tool in
managing our projects and
ensuring smooth workfl ows.
How do you feel about the
market?
I feel like we’re in the starting
gates at the Kentucky Derby,
with immense potential
waiting to be unleashed.
Unfortunately, the gates
remain locked by the fi nancial
markets. Until the lending
environment opens up, that
energy is being held back, and
we’re all ready to run.
Did you learn anything new
about your business (or the
industry) in 2024?
Not necessarily anything new.
The construction and real
estate industries are always
a bit of a rollercoaster, and
it’s the fi rms with strong
foundations that ride out
the highs and lows. We’ve
been through cycles before,
and 2024 has reinforced the
importance of resilience and
adaptability.
How quickly (or slowly)
do you expect the lending
environment to improve
as expected rate cuts take
hold?
It’s going to be a slow process.
Rate cuts won’t create
immediate changes overnight.
Getting To Know You
FAVORITE JERSEY DINER
Wayne Hills Diner
YOUR NEWEST HOBBY OR INTEREST
Gardening. It helps with stress relief. I’m not great at it yet, but
it’s something I’m learning to enjoy.
FAVORITE DAY TRIP OR VACATION SPOT
Lavallette Beach
TV SHOW, MOVIE OR BOOK YOU’D RECOMMEND
I recently watched “Miss Sloane” with Jessica Chastain. Very
thought-provoking.
IF I WEREN’T IN COMMERCIAL REAL ESTATE, I’D BE…
An attorney. It’s something I could have seen myself pursuing if I
hadn’t gone into construction.