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Wrong Jeanne Stosser?

Jeanne H. Stosser

HQ Phone: (540) 750-1050

Email: j***@***.com

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CMG Leasing, Inc

3169 Commerce Street

Blacksburg, Virginia 24060

United States

Company Description

CMG Leasing has successfully served the New River Valley including Blacksburg, Christiansburg, Radford with apartments and single family homes since 1983. We own and manage 13 communities totaling over 1000 apartment homes. Whether you are looking for a B ... more

Find other employees at this company (67)

Background Information

Employment History

Position, Real Estate Division

Huddersfield Contemporary Music Festival

President and Chief Executive Officer

GMC Leasing


Managing Member of Fiddler's Green and President
SAS Builders Inc

Board Member
Blacksburg Electronic Village Incorporated

Metro and Company Realty


New River Community College

Web References (36 Total References)

What's the legacy of Blacksburg developer ... [cached]

What's the legacy of Blacksburg developer Jeanne Stosser?

Sometimes lauded, sometimes vilified, Jeanne Stosser has shaped Blacksburg's development for four decades.
Jeanne Stosser, president of Campus Management Group and a developer of properties in Blacksburg, at the recent groundbreaking of The Edge Apartment and Townhomes in Blacksburg.
Jeanne Stosser (center), president of CMG Leasing, sits next to Blacksburg Mayor Ron Rordam (right) and other community leaders during The Edge apartments groundbreaking ceremony in Blacksburg.
Before tearing down the old OakBridge apartments to make room for The Edge, Stosser invited Habitat for Humanity to fetch appliances and furniture.
Jeanne Stosser, president of CMG Leasing, was at the groundbreaking in June of one of her latest projects, The Edge apartments in Blacksburg.
Jeffrey Stosser (from left), vice president of development; Jeanne Stosser, CEO; and Scott Stosser, senior vice president of construction at SAS Builders in Blacksburg, have been instrumental in many of the town’s developments.
Some of the projects that Jeanne Stosser has worked on over the past 40 years.
BLACKSBURG - Jeanne Stosser says she is tired of the smears.
Having never graduated from college, though she took an array of classes, Stosser built apartment complexes where thousands of university students in Blacksburg and Radford lived. Having scrambled back from a divorce that she said left her near penniless, she developed neighborhoods where home prices reach well into six figures.
In the 40 years since an employment aptitude test advised that she work in sales - and a community college professor recommended that she get a real estate agent's license - Stosser has risen to become one of the region's highest profile real estate developers. She has been a force behind hundreds of millions of dollars of construction, a guiding hand behind SAS Builders, CMG Leasing, Fiddler's Green Partners and more - corporations that reshaped vast swathes of the New River Valley.
But to many people, Stosser remains defined by a pair of projects from the past 10 years: the First & Main shopping center on Blacksburg's South Main Street, and at the other end of town, the Northside Park subdivision. She is seen as the woman who tried to bring Walmart to Blacksburg and a conventional sewer system to the semi-rural Tom's Creek Basin, and who twice took the town to the Virginia Supreme Court - and lost.
References to the controversies have reverberated in public discussions of Stosser's newest projects, often used by town officials and residents alike as a sort of shorthand for a litany of development-related complaints.
The problem, Stosser insisted recently, is that neither the Walmart battle nor the Toms Creek sewer struggle was her doing. Both were business deals that involved multiple parties, and it was other partners who controlled the controversial parts of the process - proposing to bring in a giant retailer or suing the town to try to force it to build a sewer, she said.
But it was Stosser's name that became attached to the furor. And as the years go by, she admits, the name-calling stings.
"I positively did not bring Walmart to the town of Blacksburg," Stosser said.
In recent interviews, Stosser was quick to credit the contributions of co-workers and partners. But she said it was her own drive, her own perspective that launched the pattern of buying and building, acquiring and holding that is now familiar to those who watch development in the New River Valley.
"Raw determination, fear of being broke, fear of nursing homes and never wanting to depend on my children" were her motivations, Stosser said.
"I may seem a little crazy to some people," Stosser said. "But there is method to the madness."
Stosser's energy has been a hallmark for years.
"Jeanne is a go-getter and kind of like a bulldog. ...
"Jeanne doesn't seek controversy, but she doesn't shy away from it either," added Bob Pack, who like Stosser has years of development experience in Blacksburg.
Having grown up on a farm in Cedar Springs, an area near Rural Retreat in Wythe County, Stosser landed in the New River Valley in the late 1960s as her husband, Paul, took a job at the Corning plant and finished an engineering degree at Tech.
Then in 1973 came the first of two events that Stosser said set the course of her adult life.
"You need to be in sales," Stosser recalled Barnes saying. Then the professor added, "If you're going to do it, why not make some money at it? You should sell real estate," Stosser remembered.
By 1975 she had her license, and she and another woman, a friend who had also just earned her license, were working in Carl McNeil's office in Christiansburg. Not many women sold real estate in the New River Valley then, Stosser recalled .
The way Stosser tells the story, she and her friend just insisted . "Carl's so sweet. He couldn't say no," Stosser said.
With Stosser working evenings and when her sons were in school, business boomed, McNeil said.
Then came the second event that Stosser said shifted her course.
Stosser had studied - though without finishing a degree - at New River Community College, at Eastern Tennessee State University, Roanoke Business College, and Elmira College and Corning Community College in New York.
Stosser already had begun to move past selling real estate and had been involved in creating the Woodbine subdivision in Blacksburg. The seminar made her determined to buy real estate and hold it.
Building for the future
Stosser said she had decided that for her, long-term financial success would come from investing in land. To this day she does not own stocks or keep money in IRAs, she said.
"Institutions manipulate the stock market, but I know nobody's going to screw with my dirt," Stosser said. "I know that sounds silly but it's that simple."
At the age of 32, Stosser made a plan that she figured would let her retire at 50. She pursued her development ideas by converting the Jefferson Building in Radford into two dozen apartments with commercial spaces on the ground floor. Her family had moved to Kennedy Avenue in Blacksburg, where her sons would ride go-carts through the woods and meadows that she would decades later help transform into the First & Main shopping center.
Then in 1982, Jeanne and Paul Stosser separated.
Jeanne stayed in Blacksburg. She adjusted her plan, setting a new retirement age of 55, she said.
"I went from '84, broke, literally ... and put all that back together," Stosser remembered.
Jeanne Stosser began what she now calls her comeback by trading her commission work for the more stable income of a salary, working for the real estate division of HCMF , which operated a chain of nursing homes and owned large amounts of property in Blacksburg. At the same time Stosser was lining up friends willing to invest in her ventures. She recalled a mid-'80s home-building venture with two friends where the finances were split up so each partner could get a loan.
"Yes, I used their credit because I really didn't have any at that time," Stosser said.
Freewheeling arrangements were more standard in that era, Stosser said. In the late '70s building of Woodbine, partners sold one another lots so each could make payments on 21 percent-interest bank loans they'd obtained, she said. "I think we put ours on a credit card," Stosser said.
In 1983 Stosser formed Metro and Company Realty, which later became MCR Property Management, and eventually CMG Leasing, a Stosser company that now oversees hundreds of apartments and townhouses, most in Blacksburg, but some also in Radford and Christiansburg.
By 1986 she was developing a small neighborhood of single-family homes on Blacksburg's Broce Drive, and starting what would become 20 townhouses on Green Street. The next year she was involved in building and selling condominiums in a former shirt factory two blocks from Radford University.
"I worked many long hours for years and usually seven days a week between the property I had, the next deal working and managing what was

New River Land Trust—Meet Our Board [cached]

Jeanne Stosser, SAS Builders

Blacksburg Electronic Village: About Us [cached]

Jeanne Stosser

executive interviews | Commercial Real Estate Insurance And CRE Industry Deal Making [cached]

At the 2011 NMHC Student Housing Conference, MHN sat down with Joann Craig and Jeanne Stosser of SAS Builders Inc. to get their insights into the student housing industry.

Habitat for Humanity [cached]

It was a distinctly more upbeat reaction than town officials have so far given to another venture of Campus Management Group head Jeanne Stosser: the Midtown Village proposal for the old Blacksburg Middle School site. That proposal, now under review by the town, is a project of Stosser’s Fiddler’s Green Partners, not Campus Management Group.

Stosser said last week that she was glad to let Habitat have older appliances and other items that could be carried away before demolition begins.

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