Staying nimble

Jaffe Corp. founder Richard Jaffe, left, and son Sam Jaffe, executive vice president, are turning their attention to maintenance and upgrades of projects like The Trails at Ormond Beach shopping center.

ORMOND BEACH - With its recent purchase of a 234,000sf community shopping center here, The Jaffe Corporation is continuing to implement its business strategy in the midst of a market paralysis that its founder hasn’t seen in three decades of commercial real estate work.

Richard Jaffe, who relocated the company’s headquarters to Ormond Beach from Boston in 1985, said the market woes hinge in no small part on the disparate economic messages coming out of Washington. While politicians are demanding that banks start lending, he said, regulators continue to force them to build cash reserves.

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