03/01/2014
Passion for Real Estate
Larry Ruben and Plaza Properties
Larry Ruben, president and CEO of Plaza Properties, has the rare ability to envision exceptional building projects and then turn them into brick-and-mortar reality.
Combining first-rate business acumen, a talented eye for design and an astute understanding of how people want their homes and businesses to function, Ruben has developed and constructed successful residential and commercial properties throughout Ohio and several other states. Although Ruben is a leader who has worked on projects across the US, his central Ohio communities hold a special significance for him.
In particular, Ruben puts his heart into the innovative projects he owns and markets in Bexley, his home-base. One stunning Plaza Properties’ community, The Alexander at Bexley Gateway, is such a standout that it won the BIA’s Development of the Year Award in 2012.
The Alexander’s design is one of its most remarkable characteristics. Ruben chose a timeless contemporary Georgian architectural style that makes the turreted Gateway a distinctive centerpiece for the west entry to Bexley’s Main Street.
“Architecture drives me and design drives me, but ‘they must have function’,” says Ruben. “It can’t just be pretty on the outside, it’s got to work on the inside. You have to design for a lifestyle.”
For 50-plus years, Plaza Properties has been passionate about providing people with homes and business properties they will love. The company excels at understanding how individuals want to live and work, and then creating design that will meet their needs and enhance their lifestyles. “You have to think about what’s on people’s minds and what are they looking for,” explains Ruben.
Plaza Properties owns and operates approximately seven million square feet of multifamily and commercial property. The company develops, sells, leases and manages properties that range from apartments and condos to retail, office and industrial buildings.
Plaza is set apart by a grass roots philosophy that has been in place since Ruben’s father, Bernard Ruben, founded the company 55 years ago: treating residents like family. It is so deeply instilled in the company culture that all employees work hard each day to ensure every resident and tenant is well cared for. Says Ruben: “We’re there to take care of their needs seven days a week, 24 hours a day.”
Among the 26 apartment communities Plaza Properties owns and manages, Ruben says one of the ‘crown jewels’ is Parkhill, a 140 unit luxury rental community containing 90 suites and 50 townhouses, nine foot ceilings, sunrooms, center island kitchens completely equipped for the gourmet, Jacuzzi tubs and steam showers, video security system and elevators. Ruben recalls that during building he used over 1,250,000 bricks on the job.
Another key community is The Canterbury, a graceful 182 unit, 15 story high rise apartment facility near Riverside Hospital on Olentangy River Road. Ruben feels an especially strong tie with The Canterbury because it was the first property he managed after he joined Plaza Properties in the mid 70’s.
Plaza Properties is active in urban as well as suburban areas in Franklin and Delaware Counties. The company developed the Renaissance, 60 condominiums between Rich and Main Streets. Ruben said it was the first residential new build in downtown supporting Mayor Coleman’s original initiative to bring new housing to the urban district. He and a partnership developed The Hartman Building, a six story turn of the century hotel that was converted to 12,000 square feet of retail and office space on the first floor and five residential floors containing 60 condominiums at the corner of Fourth and Main Streets. The Hartman was the winner of the BIA Urban Development Award in 2012.
Currently, Ruben is planning a major revitalization of the area by the Hollywood Casino, at I-270 and West Broad. The upcoming Weston Town Center will be a 72 acre mixed use redevelopment that could contain retail, entertainment, hotel, multifamily and restaurants.
Award-winning communities
With Ruben’s ability to deliver first class design and amenities, it’s not surprising that Plaza Properties and Ruben’s real estate brokerage, LGR Realty, offer gorgeous, concierge-living condos in a prime Bexley location.
Located next to the restaurants and boutiques of Plaza Properties’ Shoppes at Gateway, the Alexander and Park Three Brownstones provide residents with a lifestyle that’s as convenient as it is luxurious. The Alexander includes 33 tax-abated single-floor and penthouse suites. Park Three includes three five-floor New York-style brownstone homes, each connected with its own private elevator.
Over the years, Plaza has developed several residential projects in Bexley, including Lyonsgate, Crescent Ridge, Drexel Place and Cassady Place. Ruben chose to build The Alexander because he saw the need.
“There was a function missing in Bexley for condominium ownership so folks could sell their homes and remain in Bexley in an environment that had a lifestyle they either were used to or a lifestyle they were looking forward to,” explains Ruben.
The Alexander’s suites feature wonderful natural light, private balconies, high ceilings and floor plans that make maximum use of every square foot.
Ruben’s vision was to fill The Alexander with details that would add beauty and appeal. Allen Baker, Baker Design, Ltd., who planned The Alexander’s two model suites, understood Ruben’s intent, and he created the many special touches, from subtly repeating patterns in the hand-painted walls to the white carrera marble kitchen floor, that gave the models personality and style.
The Alexander’s common spaces include a warm first floor library with adjacent billiards area and a soaring two-story atrium with a dramatic Stephen Canneto-designed fountain. Original artwork appears everywhere — even in the elevator.
The Alexander also supplies many practicalities that make life easier. These include “Club Alex” a fitness center filled with state-of-the-art equipment, roomy separate storage spaces for each unit and enclosed parking with elevator access.
Design meets function
Ruben, who grew up in the Eastmoor and Berwick areas, learned his put-the-buyer-first philosophy from his father. In the late 1950s, Bernard Ruben had a fine men’s clothing store in downtown Columbus. A visionary thinker, he understood that the downtown market was changing and would not be as conducive to retail, so he decided to close his store and go into real estate.
He started Plaza Properties in 1959, building his first project, a two family, and then in rapid succession a four family, an eight family and a 16 family. By the mid-1960s he was established as a successful multifamily builder.
“Dad’s template was two-and-a-half story garden buildings located near commercial property and on a bus line,” says Ruben. “They were urban suburban, and you could walk to shopping and bus to work. That is what the company was built on, and we still own and manage many of those properties today.”
After graduating with a social studies education degree from the University of Missouri, Ruben worked as a middle school teacher before deciding he wanted to be an entrepreneur. He had worked in a pizza business during college, so he capitalized on his experience to open a pizzeria called American Pie.
However, the pull of working in real estate with his father was strong, and Ruben joined Plaza Properties in 1976 as executive vice president.
Ruben oversaw duties at Plaza Properties. In 1984 he became responsible for Plaza’s acquisitions and development activities. He was named President and COO and became a Director in 1987.
Ruben has greatly expanded Plaza Properties’ portfolio by adding condos, mixed-use projects and rehabs to the company’s bread-and-butter apartments and shopping developments.
Always fascinated by design, Ruben took architecture courses in college. For one class, he designed a three-level post and beam lake house — that he actually built 28 years later in Knox County, Ohio. Ruben’s passion for design is reflected in the emphasis Plaza puts on well-planned and stylish buildings.
Today Plaza Properties has a third generation working in the company: Ruben’s son Josh, daughter Alissa, and nephews Max Margolis and Max Ruben. Additionally, Ruben’s sister, Marcy Margolis, manages the multifamily operations at Plaza. “We still pride ourselves on family being present in our business,” says Ruben.
Plaza’s workforce is also an extension of the company family. “I’m always excited to come to work to be with our workforce, what we call our family of employees, and see everybody taking responsibility and ownership of this process,” notes Ruben.
“We’ve never given up that personal touch, no matter how large we’ve been able to grow — and we’re passionate about that,” he says. “At the end of the day, I look at each of the projects I’ve done as a learning experience and as an opportunity.”
At A Glance
BIA involvement
- Member since 2010
- BIA Development of the Year, 2012 — The Alexander at Bexley Gateway
Urban Development of the Year, 2012 — Hartman Loft Condominiums - Production Manager of the Year, 2012 — Amy Slane
- Professional Women in Building
Other distinctions
- James Cancer Hospital, major donor and board member
- Charity Newsies
- Kids ’n Kamp
- Wexner Heritage House
- Columbus Jewish Foundation
Contact Plaza Properties
3016 Maryland Avenue, Columbus, OH 43209 • (614) 237-3726
info@plazaproperties.com • www.plazaproperites.com