Smarter, not harder

Don Phillips is a changed man.

After surviving last decade's devastating economic recession — when he was saddled with $423 million in recourse debt that he had personally guaranteed — Phillips is focusing on what he calls “legacy projects,” developments that contribute as much to the communities they are built in as they do to his firm's bottom line.

Exhibit A is the $77 million, mixed-use project he's planning in St. Petersburg's Skyway Marina District, which will combine 296 residences with 13,000 square feet of self-storage units and other retail and public art. Phillips bought the land, once owned by Home Depot, in February for $4.2 million.