Steve Selig to retire as CEO of family real estate firm after 4 decades

Steve Selig, one of the most decorated real estate developers in Atlanta, announced Friday he will step down as CEO of his family’s firm, capping four decades of influencing the feel and vibrancy of the city.

Selig’s retirement wraps up a longstanding career that evolved along with the city. His legacy as a civic figure and developer ranks among Atlanta’s most accomplished, from serving in President Jimmy Carter’s administration and helping create the Music Midtown festival to building high-rise towers for tech giants and establishing mixed-use cores in Atlanta’s Westside and Sandy Springs.

“There’s a saying that you can’t be anywhere on Peachtree Road and not see a Selig project,” said Chris Ahrenkiel, a former Selig executive who is now managing principal in Atlanta for real estate services firm Cushman & Wakefield.

The 82-year-old executive said he will hand over the reins of family-owned Selig Enterprises to his daughter, Mindy Selig, and nephew Greg Lewis, who will assume the roles of co-CEOs starting Jan. 1. Steve Selig will remain as chairman and co-owner alongside his sister, Cathy Selig. The transition was first reported by the Atlanta Business Chronicle.

“Mindy and Greg are very capable, and they have been my right and left arms since they’ve been here,” Steve Selig told The Atlanta Journal-Constitution. “They’ll do a great job.”

Abe Schear, a lawyer and partner in real estate and leasing practices for Arnall Golden Gregory, said the Selig family has been an integral part of the growth of Atlanta and have spent much of their business lives helping to develop the city. Schear called Steve Selig a great character and storyteller, and said he has quietly led a successful, purposefully understated company that is “exceedingly Atlantan” in its understatement.

“His family had a big impact on Atlanta,” Schear said. “He grew up at the knees of real estate people and as he matured, he inadvertently became their peers.”

What set Steve Selig apart from others was that he really cared and connected with people in the city, said Kevin Green, president and CEO of Midtown Alliance. Selig is endlessly curious about all types of things, Green said, noting that Selig called him a few weeks ago to ask whether a proposed traffic signal would snarl local streets.

“It’s unusual for somebody with his scope of experience to still sweat the details, but that’s what makes him such a treasured person in Atlanta,” Green said. “He understands details matter because people’s lives happen in those details. It occurred to me that only Steve could make me think deeply about a traffic light.”

‘Forever holder’

Some of Selig Enterprises’ best-known projects are widely considered ahead of their time.

A grand vision to revitalize outdated warehouses off Chattahoochee Avenue became The Works mixed-use district, a fully leased development in west Midtown. Ansley Mall, Block at Phipps and Plaza Midtown have also been thriving retail districts.

Credit: Selig Enterprises

ExploreOffice parks were a strength of Atlanta’s suburbs. Now, some are tearing them down

Selig played a pivotal role in City Springs, which serves as the de facto downtown development for Sandy Springs. It’s often cited as a model to replicate among suburban cities looking for gathering places and live-work-play energy.

The firm also built 12th & Midtown, a four-block development along Peachtree Street, and the towering 1105 West Peachtree high-rise, a glassy tower that was the city’s largest building under construction in 2021. It now bears Google’s logo as an anchor in Midtown’s tech district.

Credit: HYOSUB SHIN / AJC

Ahrenkiel said Steve Selig built a reputation for his stamina and longevity, finding good real estate and never letting go.

“That real estate just keeps getting better over time, and Selig is a forever holder,” Ahrenkiel said. “So rarely does he like to sell any asset, and that is very unique.”

Selig Enterprises currently owns more than 15 million square feet of real estate and has 1,200 tenants across more than 250 properties. The company also owns properties that house many Atlanta restaurant icons, including The Colonnade, Smith’s Olde Bar, Silver Skillet and Manuel’s Tavern. The company also includes AAA Parking, which Selig Enterprises acquired in 1981 to further expand the family’s real estate empire.

ExploreAtlanta has lots of empty offices. But are tenants finally ready to settle?

Family business

The elder Selig’s early career revolved around national politics.

He served as the deputy assistant to President Carter from 1976 to 1979 and acted as his chief liaison with the business community. He also helped lead Carter’s reelection campaign.

Ahrenkiel added that Selig had a “rock ‘n’ roll” career, as well. He co-founded a concert promotions company that morphed into what is now Live Nation, and he played an instrumental role in bringing Music Midtown and the Chastain Summer Concert Series to Atlanta.

Selig became president of Selig Enterprises in 1986 after tragedy. His father, Simon “Slick” Selig, died in a car crash.

The patriarch’s death wasn’t the family’s only sudden loss. Steve’s son, Scott Selig, who had been in line to succeed his father as CEO, died of cancer in 2017 when he was 47. The younger Selig is credited with steering the company toward development rather than solely investment, resulting in the firm’s high-rise towers.

Mindy Selig is a 25-year vet within her family’s business, overseeing leasing for its 4 million-square-foot retail portfolio. Greg Lewis has been with the company seven years and currently serves as principal and senior vice president of acquisitions and development.

Credit: Courtesy of Selig Enterprises

Steve Selig said he’s not stepping down but to the side. He’s too much of a busy body to truly retire.

“My wife said to me that she would not allow me to retire because if I retired, I’d die,” he joked. “I don’t love golf that much.”

The family is also among Atlanta’s most civically involved. Steve Selig has served on boards ranging from the Atlanta Housing Authority and Metro Atlanta Chamber to the Alliance Theater and University of Georgia Foundation. He’s a founding member of Camp Twin Lakes, and both he and Mindy have served as president of the American Jewish Committee’s Atlanta chapter.

“He called it paying your civic rent,” Ahrenkiel said. “There are very few companies that are as civically ingrained as Selig is.”

About the Authors

Centennial Yards’ rise heralds a new downtown Atlanta

The $5 billion Centennial Yards project is rising within the 50-acre hole long known as the Gulch, an area once thought to be too complex to ever be developed.