Colorado Real Estate Journal - April 20, 2016
A one-hour interview isn’t near enough time to cover a lifetime of work. However, it is enough time to offer a glimpse into the career of Lou Jahde, founder and chairman of the board of Palace Construction, who at 86 years old still comes into the office two to three times a week. “I don’t really do anything, though,” Jahde jokes of his visits, always with Gigi, his cavalier King Charles spaniel, in tow. And while he may not think he does much during his visits, Rick Carter, president and chief executive officer of Palace, disagrees. “He still contributes,” said Carter, emphasizing Jahde’s visits with the employees reinforces the motto and legacy of the company – do the right thing. “When you walk around the office, you often hear people ask, ‘What would Lou do?’” It is this foundation that spurred the success of Palace Construction, which started in 1963 as an insurance repair company. But Jahde also gives a little credit to Sears. After attending Northern State University in South Dakota for a year, Iowa born Jahde joined the South Dakota National Guard and served until 1952, when he returned to school to finish his business degree. It was during his time in the guard that Jahde was stationed at Camp Carson (now Fort Carson) and came to love Colorado. He moved here shortly after graduating and got started in the real estate industry. It was a short-lived career for Jahde, who went to work in the management program at Sears Roebuck. “Sears’ motto was ‘satisfaction guaranteed.’ I really liked it and I carried it over to Palace Construction,” added Jahde, who also held management posts with Machine Mart and Mountain States Bank before co-founding Palace Construction with Marlin Walters. He and his partner started out doing insurance repairs – before the days of insurance deductibles, Jahde noted – and never needed a contract; work was completed by a handshake. Everything from kitchen fires to fixing screen doors was tackled by the “company” then – with Jahde its only full-time employee for the first nine months. The company grew to add commercial projects, some of the first being fast-food restaurants and tenant finish work. And as the company grew, so did its locations, commented Jahde, noting the firm started out at 294 S. Franklin St., where rent was $60 a month, to a house on Lipan Street, to two Quonset huts to 70 S. Galapago St. to today’s location a 7 S. Galapago St. in Denver. Today, Palace Construction has commercial, restoration and emergency services divisions to assist clients in all areas of commercial and residential construction and employs around 90 individuals. It is the employees of Palace Construction of whom Jahde is most proud. “I think what I like the most about our company is the employees,” said Jahde. “We have the best quality group of people we’ve ever had. A company’s greatest asset is its employees.” Relationships with clients also are something Jahde takes pride in and has emphasized as key to the success of Palace Construction past, present and future. “You have to treat others the way you want to be treated yourself, to do right by them. I grew up on a farm with a good work ethic, as someone you could trust,” said Jahde, adding when starting out in the insurance repair world, being an ethical company in an industry where some were not established a framework of honesty and integrity the company lives by today. Over his career, Jahde and the firm completed a number of projects – big and small – including the St. Andrew’s Village, a senior-living community offering assisted living, Medicare rehabilitation, outpatient care, companion care, nursing and in-home care in Aurora; CityScape at Belmar, a mixed-income senior community in Lakewood; and the Aria Apartments, an affordable housing community that meets both Enterprise Green and LEED Platinum standards. While he may not be as active on a day-to-day basis with Palace Construction’s projects, Jahde has been active with the Denver Southeast Rotary, Arapahoe House, Denver Serra Club and the Archdiocese of Denver. He also still enjoys golf, and he used to enjoy skiing and tennis, he laughs. He spends time with his daughter, Michelle, Carter, his son in-law, and two granddaughters, both of whom attend the University of Denver. And Jahde sees no end in sight of his and Gigi’s trips to the office. “I think the company is very family oriented; it is like a family,” said Jahde. “I love it here.”