He is the vice president of development for St. Joe Company.
HOW LONG HAS HE BEEN WITH THE
COMPANY?
Five years. He was brought in to run the real estate division, Gran Central (now Flagler Development,) until they spun off that division and started St. Joe Commercial.
WHAT DOES HE DO?
His primary role is to run the northeast region for development for St. Joe Commercial and Industrial from St. Augustine to Tallahassee. He is responsible for all development projects in that region. He is also responsible for the company’s 1031 reinvestment program which is where they are taking funds from the sale of the company’s timberland or timberland property and reinvesting it in income-producing properties, such as office buildings, in five markets: Orlando, Tampa, Jacksonville, Atlanta and Washington.
WHERE WAS HE
BEFORE ST. JOE?
He was the president of a Tampa development company, Richmond Investment Properties, for four years. “I traveled a lot and wanted to get back to my roots in Jacksonville. I’ve lived here for 41 years.”
HOW DID HE GET
TO ST. JOE?
Malcolm Jones, who was the CFO of St. Joe Corporation at the time, presented him with an opportunity with the company and he decided to take it. “I wanted to get into a company that I thought had a great amount of opportunity with it’s land and its assets.”
BIRTHPLACE
Shalley was born in Mount Vernon, N.Y. and moved to Jacksonville when he was 11.
COLLEGE
He has two bachelor’s degrees from Florida State University, one in finance and the other in accounting.
WHAT DID HE
DO AFTER COLLEGE?
As a Certified Public Accountant, right out of college he went to work for Peat Marwick and Mitchell Certified Public Accounting firm. “I specialized in real estate banking and insurance.”
AFTER ACCOUNTING?
Shalley left and went to work at TRECO, a local real estate investment trust.
“I had left the public side and went into the private side. After a year of being on that side of it, I decided that I would rather be doing this stuff then accounting for it.”
MAKING THE SWITCH
He decided to make the transition from accounting to real estate development and went to work for Wilson Financial Corporation, a privately owned real estate development company, before joining Richmond Investment Properties.
HOW HAS HIS
BACKGROUND HELPED HIM IN REAL ESTATE?
He said his background helps him everyday. “As you look at real estate, all of it is based on economics and finance.”
FAMILY
He has been married to Karen for 16 years. He has one child from a previous marriage, Michael Jr. He and Karen have two children, Kevin, 15 and Sarah, 13.
HOBBIES
He enjoys exercising, running, bike riding, playing golf, reading and watching his children play sports.
— by Michele Newbern Gillis