Jeff Wermers

President

Jeff Wermers is President of Frye Properties, where he provides strategic leadership across the company’s development, construction, investment, property management, and real estate activities.

With more than 30 years of experience in real estate, Mr. Wermers’s career has been rooted in construction, land planning, master-planned communities, and residential development. He has been involved in creating and advancing communities from initial land planning and entitlement through development, construction, financing, and long-term stewardship.

His experience includes work on a wide range of residential and mixed-use projects, including master-planned communities, new home development, adaptive reuse, historic rehabilitation, and multifamily properties. Significant projects over the course of his career include East Beach in Norfolk, the Cavalier Residences in Virginia Beach, and the Lofts at Whitaker Park in Winston-Salem, North Carolina. His experience also includes working with investors, development partners, lenders, and public-sector stakeholders to structure and advance complex real estate projects.

Mr. Wermers joined Frye Properties in 2016 and has since held several senior leadership roles, including Chief Financial Officer and Vice President of Construction, before becoming President. His background in finance and capital planning complements his long-standing experience in land development and construction and gives him a broad perspective on the full lifecycle of real estate projects and investments.

As President, Mr. Wermers is focused on the long-term direction of Frye Properties and the continued growth of its integrated real estate business. He works across the organization on multifamily operations and acquisitions, development opportunities, capital planning, construction, and investment decisions, while helping guide projects from concept through execution and long-term ownership.

A consistent focus throughout his career has been the creation of strong neighborhoods and communities. Mr. Wermers believes successful real estate should do more than produce buildings or lots. Thoughtful land planning, quality construction, walkability, shared spaces, and long-term stewardship can create places that people value and that remain desirable for generations.

That philosophy continues to shape Frye Properties’ approach to new communities, development opportunities, and the long-term ownership and operation of real estate.

Margaret R. Flibotte

Senior Vice President

Margaret R. Flibotte is Senior Vice President for Frye Properties, Inc. In this role, Ms. Flibotte is the company’s chief administrative executive, helping Frye Properties and its subsidiaries achieve their financial goals, maximize operating performance, and support the organization’s long-term strategic objectives. She also serves as Principal Broker for Frye Realty and Frye Properties, overseeing the companies’ real estate brokerage operations and ensuring compliance with Virginia and North Carolina real estate regulations.

Ms. Flibotte joined D.B. Frye & Associates, now Frye Properties, Inc., in 1978 as the company’s first employee. Prior to joining the company, she served as Administrative Executive Assistant to Mr. Frye during his tenure as Executive Director of the Portsmouth Redevelopment and Housing Authority. Since joining Frye Properties, Ms. Flibotte has played an integral role in the company’s growth and success.

Throughout her career, Ms. Flibotte has been actively involved in the multifamily housing industry and the Hampton Roads community. She serves on the Coastal Multifamily Housing Council (a council of the Coastal Virginia Building Industry Association) and has served on numerous housing, business, military, and community boards, including the Hampton Roads Chamber, Mid-Atlantic Affordable Housing Management Association, Navy League of the United States, Armed Forces YMCA, and the Hampton Roads Community Housing Resource Board. She also serves on several condominium and homeowners association boards and supports various charitable organizations throughout the region. In recognition of her contributions to the industry, she received the Tidewater Multi-Family Housing Council’s Multi-Family Housing Executive of the Year Award in 2005 and 2021 and its Lifetime Achievement Award in 2011.

Ms. Flibotte earned a Bachelor of Business Administration from Old Dominion University and holds numerous professional certifications in affordable housing, property management, and real estate, including National Assisted Housing Professional Executive (NAHP-e), Housing Credit Certified Professional (HCCP), Rural Development 515 S.T.A.R. certification, Registered Apartment Manager (RAM), Virginia Fair Housing certification, and Virginia and North Carolina real estate broker licenses.

Rock Bell, P.E.

Vice President of Land Development

Rock Bell, P.E. serves as Vice President of Land Development for Frye Properties, Inc., where he leads the company’s development initiatives. In this role, he oversees site selection, financial feasibility, master planning, and entitlement coordination. He works closely with the development, construction, marketing, and realty teams to guide projects from initial planning through completion, ensuring each community reflects the company’s vision while delivering long-term value. Mr. Bell also collaborates extensively with local governments and community stakeholders to successfully navigate the development approval process.

Mr. Bell joined the East Beach team in 2003 as Director of Development and was appointed General Manager in 2005, before being promoted to Vice President of Development in 2015. During his tenure with Frye Properties, he has directed the planning and execution of numerous residential and mixed-use communities, including East Beach in Norfolk and The Cavalier Residences in Virginia Beach. His experience encompasses every phase of the development process, from due diligence, entitlement, and financial analysis through construction coordination, community buildout, and the establishment of homeowner associations. Under his leadership, East Beach earned the 2011 Charter Award from the Congress for the New Urbanism, recognizing it as the best execution of a master plan in North America. Throughout his career, Mr. Bell has overseen more than $290 million in construction projects, including the development of more than 1,250 homes.

Before joining Frye Properties, Mr. Bell spent 18 years with the City of Portsmouth Engineering Department, where he ultimately served as Assistant City Engineer. In that capacity, he managed major public infrastructure and municipal building projects, oversaw site plan and subdivision approvals, and helped develop regional construction standards and Chesapeake Bay Preservation Act compliance guidelines. Earlier in his career, he worked as an assistant superintendent, supervising the construction of high-rise hotels and other large commercial projects.

Mr. Bell has been a frequent speaker at national and regional conferences, where he has presented on infrastructure implementation and strategies for successful collaboration between developers and local governments. His presentations have included the annual Congress for the New Urbanism, the National Town Builder’s Association, and the Seaside Institute.

In more than four decades, Mr. Bell has built a reputation for successfully integrating engineering, finance, planning, and public-private collaboration to create award-winning communities throughout the Mid-Atlantic.

Mr. Bell earned a Bachelor of Science in Civil Engineering from the University of Virginia and is a registered Professional Engineer in the Commonwealth of Virginia.

Starkey Cowand, Jr.

Vice President of Operations

Starkey Cowand, Jr. is Vice President of Operations for Frye Properties, Inc. In this role, Mr. Cowand oversees the day-to-day operations of Frye Properties’ multifamily and commercial portfolio throughout Virginia, North Carolina, and Tennessee. He works closely with property managers, leasing professionals, and maintenance teams to support operational efficiency, resident satisfaction, regulatory compliance, and the long-term success of each community.

Mr. Cowand joined Frye Properties in 1983 as a maintenance technician and has advanced through the organization into his current executive leadership role. Throughout his tenure, he has gained extensive experience supporting a diverse portfolio of conventional, student, senior, affordable, and mixed-income communities. He also coordinates property inspections and ensures compliance with company standards, regulatory requirements, and owner expectations.

Mr. Cowand holds numerous certifications related to property management and maintenance operations, including the Housing Credit Certified Professional (HCCP) designation from the National Association of Home Builders.

Ike Gaines

Vice President for Procurement

Ike Gaines is the Vice President for Procurement for Frye Properties, Inc. As Vice President of Procurement, Mr. Gaines works directly with the development, construction, realty, and property management divisions. Ensuring each property, office, and project has everything they need for efficient and successful daily operations. In addition to his executive role, Mr. Gaines is also the asset manager of Ocean Pebbles, a 112-unit apartment community, and Ocean Lake Townhomes, a community of 19 townhomes, both located in Virginia Beach. As Asset Manager, Mr. Gaines works closely with the on-site property management teams to oversee operational performance, maintenance, and initiatives that enhance the long-term value of each community.

Mr. Gaines joined D.B. Frye & Associates, now Frye Properties, Inc., in 1978 as a purchasing specialist. During his tenure, he has contributed to the company’s continued growth through decades of experience in procurement and property operations. In addition to his purchasing responsibilities, he took on the role of property manager of a multifamily community in Norfolk for two years. This experience further expanded his expertise in property management and day-to-day operations.

Prior to joining Frye Properties, Inc., Mr. Gaines served in the United States Air Force as a Communication Specialist. He also received a Bachelor of Science Degree in Business Administration from Norfolk State University while working full-time at the Portsmouth Redevelopment and Housing Authority.

Allie Gorman

Director of Operations

Allie Gorman serves as Director of Operations for Frye Properties, Inc., bringing more than a decade of experience spanning development, construction, real estate sales, property management, and marketing. In this role, Mrs. Gorman works directly under the President and in close collaboration with the Vice Presidents of Development and Construction to advance projects across the organization, coordinating communications with key stakeholders, consultants, and government agencies to ensure alignment from early planning through project execution.

Mrs. Gorman joined Frye Properties as part of the realty division, earning her Virginia real estate license shortly thereafter. Throughout her tenure with the firm, she has developed deep familiarity with every stage of the residential development process — from master planning and design review to construction coordination, RFQ and RFP response, and community buildout through home sales. Her hands-on involvement spans collaboration with land planners, architects, and consultants, as well as the day-to-day coordination that moves projects from concept to completion. Most recently, Mrs. Gorman has played an integral role in both the final phases of the East Beach community in Norfolk, Virginia and the Ford’s Village community in James City County, Virginia, a traditional neighborhood development currently underway.

Mrs. Gorman graduated Cum Laude from Rutgers University with a Bachelor of Science and was recognized as a member of the National Society of Collegiate Scholars and Chi Alpha Sigma, the National Athlete Honors Society.