CONTACT: Julie Buss
Wood Communications Group
(MADISON) Steve Brown confirmed today that long-time Steve Brown Apartments (SBA) executive, Margaret Watson, has been selected as the new Chief Executive Officer (CEO) for the company he founded 34 years ago.
“Margaret Watson has been with SBA for more than 20 years,” Brown said, “She understands this housing market better than anyone I know and helped us grow SBA into one of the largest and most successful property management companies in the area. We are delighted that she is ready, willing and more than able to take on her new responsibilities.”
Brown established SBA in 1980. The company, which now employs more than 120 people, specializes in property development, preservation and management. The company’s Residence Halls and student housing offer Madison’s student population excellent, safe accommodations; while its upscale apartments, including the Mansion Hill Historic District where SBA has restored more than 20 historic homes, are a hallmark throughout the city. Brown has always been active in the community and currently serves on the boards of the Madison Community Foundation and the American Players Theater.
“SBA has been my professional home and passion for more than two decades,” Watson said, “and Steve Brown has been my mentor and friend for every day of that amazing and educational journey. I appreciate Steve’s confidence in me and want to assure him and all my colleagues that our work at SBA will continue to be guided by Steve’s dedication to excellent service for our clients and responsible engagement with our community.”
When asked about his plans for the future, Brown made clear that he and his wife, Laurel, are not retiring. “Laurel owns her own company, a very successful design and architectural firm called Brownhouse, and has no intention of retiring,” Brown said, adding “And, neither do I. The decision to ask Margaret to take over the CEO function at SBA was prompted by another decision Laurel and I made more than a year ago to endow and help manage a new foundation here in the Madison area and turning that commitment into a reality now requires more of my time.”
Brown said that arrangements for the new foundation are now being finalized and that details about the mission and scope of the foundation will be made in a formal announcement sometime in late spring or early summer.