Developer has passion for his work

SouthBridge creator calls his job his hobby

Patricia Bathurst
Arizona Republic
Nov. 11, 2007 12:00 AM

As president of Spring Creek Development, Fred Unger led luxe - and very successful - revamps of the Hermosa Inn in Paradise Valley and the Royal Palms Resort and Spa in Phoenix. His latest project is Scottsdale's SouthBridge, a $41 million retail development he promises will rival San Antonio's RiverWalk, Los Angeles' Rodeo Drive and New York's SoHo.

The new restaurants and retailers opening at SouthBridge are all independent and one-of-a-kind. The first opened this fall; offices, residences and a 100-room boutique hotel will follow within a year or so.

"It's not so much about the projects you build, but what kind of difference you can make in the world," says Fred Unger.

Here, Unger, 58, shares his lessons learned:

• "I was not a very good student in college but was fortunate to have a professor who became a mentor to me. He suggested I might look into real estate. You did not need higher education, like a lawyer or CPA, and if you were bright and worked hard - this is a marvelous country - you could do well. That sounded good enough for me."

• "I believe you can't do your best in life, whether you're a teacher or a mechanic or a real-estate, unless you approach it with your whole heart and passion."

• "When I was young, my father had a successful corporate life. We were uprooted every couple of years as my father moved up with his company. When he was in his mid-50s, they let him go for a younger man. I determined that would never happen to me, so I started off knowing I would own my own company."

• "When you see something that strikes your fancy, ask, 'Who did that?' and you can often talk with them. Sometimes you can find a way to work together. It's easier to do things when you have the right people."

• "In the real-estate business, persist, persist, persist and timing, timing, timing can be as important as location, location, location.

• "Never burn a bridge; always attempt to be kind and understanding. Be absolutely honest because your word and name are your biggest assets."

• "In the end, it's not so much about the projects you build, but what kind of difference you can make in the world. You need a good foundation, a good path and people who hold you accountable. If you have some monetary independence, you need to help other people."

• "It's not about a life of indulgence but being able to do the right thing. When the work goes away, you need other things in your life to give you the 'Aha!' moments."

• "I don't hunt, fish or golf and have no hobbies. My hobby is work."

• "I don't have any regrets. Although if I had known it would all end happily, it would have been a lot less stressful. But then that's when you know you're really alive."

This story appears in bizAZ back in 2007. Find the magazine at Border's, Barnes & Noble, Basha's and AJ's. For a free subscription, go to www.bizaz.com.