Voices of Heritage: A Q+A Series

Introducing our new Q+A series — Voices of Heritage. Through in-depth conversations with Jeff Bush, we sit down with members of the Heritage Properties team to dive into their career beginnings and stories.

As we celebrated our 47th anniversary in April, Jeff sat down with his dad and Partner in Heritage Properties, Brian Bush, to discuss the beginnings of Heritage Properties and where Brian envisions the company is headed. Started in 1978 by Brian’s father, Jack Bush, and business partner, Jack Watson, Heritage Properties grew from a singular property in Lowell, MA, to what it is today — a team of 30+ members, with 800+ units managed and 300+ developed.

Jeff: Let’s start at the very beginning. In the 1970s, the company founders, Jack Bush and Jack Watson, purchased their first property, and by way of that purchase, started the company. What do you remember about that time?

Brian: I was in high school when they bought Lakeview Ave, their first property. I knew the Watsons well, especially Tom. I remember there being talk about raising money for their retirement. My dad refinanced our house, borrowed from both sides of the family - and even used my paper route money to start the company with Jack. He eventually paid me back through college tuition, interest-free, of course!

Jeff: Do you remember what it was like once it all started - being in the weeds of the work?

Brian: Oh yeah. I learned about electricity by getting shocked. Learned to paint the hard way. It was very hands-on - cleaning, raking, painting. I remember when they first bought Lakeview. Jack and Jack would be up at the properties every weekend, painting, meeting tenants.

Jeff: One of the things that people will tell you, if you look at a business over time, is that partnerships rarely work out, or it's pretty challenging. Jack and Jack seemed to work really well together. Why do you think that was?

Brian: I think it worked better than they thought. They just got along. They had this goofy dynamic, calling each other “Jackson,” laughing at corny jokes. It worked.

Jeff: At what point did they start stepping back from day-to-day operations?

Brian: I would say early ’90s. Around that time, Jack Watson’s son, Tom, got involved. He had a painting and drywall business, was studying at BU, and he hired someone to help manage the properties. Eventually, it was just a weekly check-in for my dad and Jack.

Jeff: You’ve told the story about going off to college and saying you'd never go back to Lowell - or the apartment business. What caused that, and what changed it?

Brian: At the time, I wanted to be doing creative work. I liked new construction, fresh starts. Ironically, at this point in my life, I'd rather fix something up than build something new! But what brought me back was Tom. We’d stayed in touch, and his excitement pulled me back in.

Jeff: Take me back to those early days, going back to the Heritage Properties office on Princeton Boulevard. What were things like?

Brian: Well, if you needed to use the bathroom, you had to walk across the parking lot to the third floor of the adjacent apartment building. My office was in the attic - crazy cold in the winter, hot in the summer. That said, we had a good group of people and a lot of promising things happening. I felt like I could clean things up a bit, make some acquisitions, and try new things. Chris Petersen was the first hire I made, and he was instrumental in helping us get organized. He’s still here today.

Jeff: Were there fundamental lessons from those early days or first deals that you kept with you?

Brian: We were focused on building up a portfolio with assets we could manage ourselves. It was primarily buildings from the ’60s to ’80s. Our fundamental objective was to provide good, clean, serviceable apartments to residents who would take care of them. Those buildings would provide us with long-term cash flow. We were patient and we focused on taking care of the buildings for the long haul. Even through the 2007-2010 Great Recession, we were patient and buckled down. It was difficult, but we tried to keep morale up. By 2011 to 2013, things started to stabilize and turn back around. People can get lulled into thinking it's going to be good forever, but that’s just not the case. It’s important to keep your finger on the pulse.

Jeff: Whether from the downturns or the good times, are there critical moments that shaped how you think about leadership or real estate?

Brian: Getting through those tough years was critical. We believed there was light at the end of the tunnel. If you believe in your strategy, stick to it. Show up every day and do the work. There have also been so many people who have helped shape my career and my outlook – there are so many stories to tell. One was from my first boss, a guy named Dan – “Coach.” I started working for him when I was busing tables.  He was tough. I remember one time he called me up; someone couldn't show up for a shift, and I told him I had a date with one of the other waitresses. His response was: “I'm not running a dating service - I'm running a restaurant. Get in here!” But he taught me about business and paying attention and that, when you're at work, you're at  work.

Jeff: Last question. I think companies inevitably have the stamp of either their founders or leaders over time, and that looks different for different people. When you look at the company today, what do you see of Jack and Jack in the company’s ethos?

Brian: I think they were both strong operators, they were focused and fiscally responsible. That mindset stuck. Mindy, our Chief Operating Officer, for example, is very good at it. Another is the long-term hold philosophy. Fewer and fewer people companies operate that way, and most of the ones who do are probably family-run businesses.

Jeff: When I think back to Jack Bush, a lot of the stories I heard were about his value of people first. And I think that’s remained. Our tenants are our residents, and we care about them as individuals. For you, as you look back and forward, what do you hope your stamp on the company is over the next couple decades?

Brian: That’s a good question. I think using the tools in our toolbox to achieve new and different things. Some of the projects we’ve done, like renovating Waterhead, hadn’t been done within the company before. My attitude has always been – we can do this, let’s tackle it. And also just treating people right. I’ve always enjoyed the people who have worked here, connecting with them, and knowing what’s going on in their lives. And last but not least, play hard and work hard.

Stay tuned for our next Q+A in the coming months!