Today we’d like to introduce you to Kacy Keys.
Hi Kacy, it’s an honor to have you on the platform. Thanks for taking the time to share your story with us – to start maybe you can share some of your backstory with our readers?
I was born in Los Angeles, and my family history in the City goes back to 1905. I grew up here in the 1970s and 1980s and studied at UC Berkeley (“Cal”) for my undergraduate education with a major in Economics. After graduating from college, I moved to Washington, D.C., and worked as a Research Assistant at the Brookings Institution for two (2) years before coming back to California to pursue a joint degree in Law and Urban Planning from Cal and UCLA.
After a brief stint at a law firm in public law, I went to work for the Mayor’s Office of Economic Development under Mayor Riordan. Our task was to foster economic and real estate development within the City. My focus was Downtown Los Angeles. I was able to be involved with and further the development of Staples Center, Disney Hall, the Old Bank District, Hollywood & Highland, as well as drafting the adaptive reuse ordinance, which was the catalyst for the conversion of several vacant and historic buildings into loft-style housing. While at the Mayor’s Office in 2000, I gave birth to identical twin girls, who will be 24 years old this year.
During this same period, I founded the Praxis Project, which was an organization providing intensive summer dance workshops: www.praxisdance.org. This project brought together professional and advanced-level dancers for six weeks of intensive workshop instruction by various choreographers from around the country, culminating in a final performance. Over the years, performances were held at the Palace Theater, Grand Performances, the Ford Theater, the Nate Holden Theater, and other venues. We stopped the project in 2009 or thereabouts. I myself have danced for 46 years. Starting when I was six years old and recently “hanging up my shoes.” In Los Angeles over the years, I’ve worked and performed with Jazz Antiqua.
I left the Mayor’s Office and worked at a law firm, focusing on real estate and land use law, for 4-5 years, and then moved to the JH Snyder Company, a local, privately run development firm. My son was born in 2003. He is now a second-year student at Howard University.
I was fortunate to be at the JH Snyder Company for over a decade. Working my way up in the organization to, eventually, in-house counsel and Senior Vice President. Jerry Snyder and his partner, Michael Wise, were both amazing mentors and friends. During my tenure at JH Snyder, I was able to build at least eight projects in and around Southern California: The Vermont at 3150 Wilshire — 464 apartments over 40K square feet of retail; NoHo Commons – retail in North Hollywood; NoHo Lofts — apartments in North Hollywood; NoHo III – 5250 Lankershim — an 120K sq.ft. office building and former home to the Art Institute; The Crescent in Beverly Hills; Ontario Town Center in Ontario; West Hollywood Gateway at LaBrea Avenue and Santa Monica Blvd.; and more.
I then was recruited to Seritage Growth Properties (a New York REIT) to open up their West Coast office and hire a team. My team was responsible for the reuse and conversion of 65 assets in 12 states — all of which were former Sears and K-Mart stores. Notable projects in Southern California are Sears Santa Monica, now called The Mark 302; North Hollywood; Carson; Westminster; San Diego; and others.
As a single mom, it was challenging to balance my responsibilities at work and at home, and when my twins were in high school, they started to develop mental health issues, and my mother was also diagnosed with Progressive Supranuclear Palsy (PSP). In 2018, I left Seritage and took a year off to deal with family health issues. Then, in 2019, I launched my own company, Praxis Development Group (www.praxisdevgroup.com).
Praxis Development Group was formed with the stated mission of “Building with Purpose.” We partner with institutional and individual land owners who are not real estate people to recognize the vision and value around real estate, particularly in changing neighborhoods. We are currently completing a $27M project with West Angeles Church of God in Christ. Called its Family Life Center, the building is a community center located at 36th and Crenshaw. It contains a small chapel, fellowship hall, commercial kitchen, music/media center, counseling center, a floor for children, teens, and young adults, as well as the church’s administrative offices. This project will be open in January/February 2024.
We are partnering with a long-time family owner on a project at 54th and Crenshaw. This project is expected to start construction in April of this year: 48 multi-family apartments over retail, with ten apartments within the project to be affordable to families at 50% of Area Median Income (“AMI”).
We are also working with a generational family in the Lincoln Heights area of Los Angeles to build 450 apartments with 50 of those units to be affordable at 50% of AMI.
In addition, we provide consulting services to such clients as Six Flags Magic Mountain, Barry’s Bootcamp, and the Saticoy Club. Our goal is to work with our partners and to prioritize integrity and respect first. We continue to seek out meaningful projects which make a difference in the urban fabric of Los Angeles and Southern California.
I am now an empty nester looking forward to what’s next. I continue to push forward with integrity, perseverance, and grit, grateful for the opportunity to work and contribute. In addition to work, I enjoy golf, healthy living, and travel.
Alright, so let’s dig a little deeper into the story – has it been an easy path overall and if not, what were the challenges you’ve had to overcome?
No road is without bumps. Being a woman in the predominantly male world of real estate development is not easy. It was more challenging earlier in my career. I have now learned how to step into any room and establish my presence. At the same time, respect must be earned through hard work and a reputation of integrity. I have experienced bias and harassment at various points in my career, but I never let it stop me. I’ve been in situations where I didn’t like my boss and/or disagreed with the direction of management. Sometimes, with communication, that can work itself out; other times not. While I’ve never been fired, I have left work environments that were not a good fit, and as I have aged, I’ve learned more and more to follow my gut. If something doesn’t feel right, it usually isn’t.
Most of all, I’ve learned to forge my own path. Mine was not a linear one. I’ve worked in the private sector and public sector at law firms; I’ve taken time off to deal with family health issues; and five years ago, I opted to start my own company.
An entrepreneurial endeavor is not easy. It takes constant focus and commitment, Every day requires “get up and go,” even when you don’t feel like it; and there is no one to look to for accountability, but yourself. I’m proud of the work we’ve done over the last five years, and I look forward to what comes in the next five.
Thanks – so what else should our readers know about Praxis Development Group?
Praxis Development Group is a real estate development and advisory firm. Our stated mission is “Building with Purpose. Praxis Development Group develops a wide variety of projects for its own account, in partnership with landowners, or on behalf of its clients. Our projects include new construction and rehabilitation of various product types. We specialize in transformative urban infill projects that achieve the highest levels of design and construction and become integral to the communities they serve. Praxis provides strategic advisory work to clients at all stages of the development process, from overall real estate strategy for institutional and legacy landowners to site assessment, pro forma analyses, entitlement strategy and execution, and/or overall business strategy. We can step in at any stage of the real estate development process and add value. Succeeding requires tenacity, perseverance, confidence, and deep knowledge from which to execute.
We see projects from idea to reality and utilize practical, boots-on-the-ground knowledge and expertise to get them done. Praxis operates on the premise of integrity and respect first.
Kacy Keys, founder and CEO of Praxis Development Group, comes to the endeavor with more than two decades of experience in large and complex development projects, with a track record of success. Having been recognized as one of Los Angeles’ most influential women in real estate, Kacy has overseen the development of more than $1B in real estate assets (exclusive of land value) with experience in residential, retail, office, and mixed-use product types.
Can you talk to us about how you think about risk?
I’ve taken several risks in my professional journey. I left a law firm and took a 50% pay cut to move to the Mayor’s Office of Economic Development in the late 1990s. It was one of the best decisions of my life and put me on the path for the rest of my career.
After the Mayor’s Office, I again worked at a law firm. After a few years, I chose to leave to work at JH Snyder. Again, I took a cut in pay for the potential opportunity. Again, one of the best decisions I’ve ever made. JH Snyder provided me with a platform upon which to learn and grow.
After over a decade at Snyder, I moved to Seritage Growth Properties as Senior Vice President and a member of the management team. It was a big leap in responsibility, as well as a very different organizational setting. I went from a small, family-run shop to a large NY REIT. There were pros and cons to this, but it challenged me and forced me to grow in ways I wouldn’t have otherwise.
Finally, in 2018, I left Seritage, took a year off to deal with family issues, and then decided to form and launch my own company. While I had several job offers, I thought to myself, “If not now, then when? If it doesn’t work out, then you’ll go get a job.” I’ve been fortunate that I’ve always landed on my feet work-wise. Thankfully, the work has come to us as though God or the Universe has recognized the years of hard work and reputation of integrity and creativity.
Contact Info:
- Website: www.praxisdevgroup.com
- Linkedin: https://www.linkedin.com/in/kacy-keys-25120811/
Image Credits
RH1 Photography – for picture of Kacy Keys
