Magnate Shifts Roles at Selig Enterprises

Local media went wild when real estate mogul and local community leader Steve Selig announced his vision to step aside in active day-to-day management of Selig Enterprises. He wants to make clear that he is not retiring, as he will remain chairman of the board and co-owner along with sister Cathy, more in an advisory capacity while daughter, Mindy Selig, and nephew, Greg Lewis, take over.

Interestingly, the Atlanta Journal-Constitution ran front page stories on Steve Selig’s decision. When queried if he was surprised by all the publicity, ever self-effacing, he replied, “It must be a slow news week.”

Steve Selig is responsible for dramatic accomplishments in Atlanta’s development, specifically in the Jewish community. Selig Enterprise’s portfolio houses more than 1,200 tenants and over 15 million square feet of space, including office buildings, warehouses, shopping centers, apartments, mixed-use, and a pivotal role in City Springs, a model for suburban cities. Steve Selig is also known for his people skills, staff development, public speaking, and pulling off a joke.

When asked what he was most proud of in terms of his legacy, it wasn’t buildings or properties. He said, “Other than my family, it’s the team we’ve developed. I believe in hard work, loyalty, and knowledge. We have veteran employees working here for 20-plus years. We have very little turnover from 125 employees. Actually, my philosophy is that sometimes I don’t care how smart someone is (although that helps), I care how well they get along with people, their work ethic, and availability.

In terms of how he might spend his extra free time, Steve Selig claims to not be “much of a golfer.” Steve and wife, Linda, are not big travelers. Their “happy place” is Hilton Head at Sea Pines where he bought a house, noting that it came bundled with a pink 1957 Thunderbird once owned by John Mellencamp.

Now, he’s thinking that New York City may be his third home as up to six of his grandchildren (oldest is 31) may settle there.

Get to know the man …

Jaffe: There’s a Japanese proverb, “The first generation makes the money, the second generation invests the money, and the third generation squanders the money.” How did this all work out here?
Selig: I’m the third generation. Our children are the fourth generation, and you can see what we have built. When my father, “Slick,” sat in this chair, I approached him thinking he should take more risk. Interestingly, my children have done the same to me. My late son, Scott, envisioned The Works development, which seemed very aggressive at the time, and turned out to be a fantastic project.

Jaffe: Your philosophy is to “buy and hold.” How do you make any money without selling?
Selig: We’re long-term holders. Leasing is my forte. Mindy will take over the leasing arm. We also do development, on which Greg has been focusing. One of the reasons we’re successful is because we’re not specialized in one area, we’re diversified.

Jaffe: What do you do in your spare time? I see footballs in your office.
Selig: I’m a tremendous sports fan and these are my UGA footballs. I like the Falcons, the Braves, Hawks, all of it. We like to see family members whenever possible. We also like to have dinner with friends; and we happen to lease to some iconic Atlanta restaurants like the Colonnade, White House, Manuel’s Tavern, Silver Skillet, and Smith’s Olde Bar.

Jaffe: What’s your last fashion disaster?
Selig: I have a fashion disaster every day. I have clothes in my closet that have been there 20 years

Jaffe: When’s the last time you cried?
Selig: This may surprise a lot of folks, but I am very emotional and probably cry every other day. Those who know me well know that I’m a softie at heart. I cry when I hear Hatikvah, at parades and when I see the American flag. Recently, I cried at the movie, “Song Sung Blue.”

Jaffe: You’re a music pioneer and helped start Music Midtown.
Selig: I was partners with the late Alex Cooley and Peter Conlon who’s still running the Live Nation Atlanta. I love the old-timers like Jimmy Buffett, James Taylor, and Willie Nelson. I, myself, I’m not a very good singer.

Jaffe: You were the National Campaign Chair for the Jewish Federation.
Selig: When they asked me, I didn’t think I’d do a very good job, but I actually folded well into it. I have a T-shirt showing all of the 50 cities I visited, including London and Montreal. It’s a two-year job, and I only made a one-year commitment. However, I was in Israel and Prime Minister Sharon (in his thick accent) asked me to take the second year on the spot. I reluctantly happily accepted. Who could refuse the Prime Minister?

Jaffe: You worked in the Carter Administration. Are you a supporter of the Democratic Party?
Selig: I’m “candidate driven” vs. “party driven.” I really admire Gov. Brian Kemp and hope he runs for president. I supported Nikki Haley during the last presidential election. I think the Republican Party is more supportive of Israel so that’s where my loyalties lie. I admire Sen. John Fetterman. That said, I also am a big fan of Mayor Andre Dickens.

Jaffe: If you had one thing you could change, what would it be?
Selig: I lost my son, Scott, to cancer eight years ago at age 47. It was the darkest time in my life, and I will never get over it. I think of him every day and I am continually inspired by the impact he had on so many.