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Devin: What do you see as your superpower?
Stefan: How about thinking outside the box?
Today’s episode features Stefan Martinovic, the visionary founder of Circular, who is pioneering a new era of sustainable and regenerative real estate development. Stefan’s projects seamlessly blend agriculture, hospitality, and urban farming, creating unique environmental and economic synergies that exemplify the potential of thoughtful development.
Circular’s flagship project, Livingston Farm, is an 80-room agritourism resort built on a reimagined dairy farm in Sullivan County, New York. This resort integrates farm-to-table dining with a sustainable living experience, offering guests a direct connection to nature. Stefan explains, “We’re transforming this former dairy farm into a thriving hub of regenerative agriculture, where visitors can experience first-hand the benefits of a climate-positive food system.”
In addition to the farm, Circular is developing Wren of the Woods, a restaurant in Armonk, New York, which showcases the same commitment to sustainability. The restaurant will serve as a culinary beacon, emphasizing locally sourced and responsibly prepared food. “Our goal with Wren of the Woods is to create a LEED-certified space that not only delights diners but also educates them about the importance of regenerative agriculture,” Stefan says.
Circular’s third project is an innovative urban gourmet mushroom farm in Harlem, New York. This farm upcycles organic waste from their restaurants and other sources to produce high-quality mushrooms. Stefan elaborates, “By integrating waste products into our urban farm, we are closing the loop on food production and contributing to a more sustainable urban environment.”
Stefan’s projects are interconnected, creating a holistic system where waste is minimized and resources are efficiently utilized. His work demonstrates how regenerative practices can be applied across different sectors to create lasting environmental and economic benefits. As Stefan aptly puts it, “We’re not just building properties; we’re building ecosystems that sustain themselves and the communities around them.”
I invite you to listen to today’s episode to learn more about Stefan’s groundbreaking work and the impact Circular is making in the realm of sustainable development.
tl;dr:
1. Innovative Real Estate Projects: Stefan Martinovic is a real estate developer focused on sustainable and regenerative projects. His company, Circular, has three major projects in New York: an agritourism resort on an old dairy farm, a standalone restaurant down in the Hudson Valley, and an urban gourmet mushroom farm in Harlem.
2. Agritourism Resort: The Livingston Farm project involves transforming a historic dairy farm into an 80-room regenerative agritourism resort. It integrates agriculture with hospitality, offering farm-to-table cuisine and accommodations that blend with the landscape. The resort aims to educate guests on sustainable practices and includes restoring the property's ecological health.
3. Sustainable Dining: Circular's restaurant endeavors include a formal dining restaurant and a casual café on the resort property, plus an off-site restaurant called Wren of the Woods in the Hudson Valley. These establishments will feature locally sourced, responsibly prepared food, leveraging waste products in composting and other regenerative practices.
4. Mushroom Farm and Waste Recycling: The mushroom farm in Harlem is designed to upcycle food waste from Circular's restaurants and other sources into a productive growth environment for organic mushrooms. This initiative highlights the company's commitment to sustainability and creating closed-loop systems.
5. Raising Capital for Expansion: Stefan and his family have invested significant personal capital into these ventures. They are now seeking to broaden their investment pool through small change offerings, inviting community members and other investors to contribute. The goal is to complete land acquisition, obtain necessary permits, and move forward with construction and operation phases.
These points summarize the core aspects of Stefan's innovative work in creating environmentally sustainable and economically synergetic real estate projects.
How to Develop Thinking Outside the Box As a Superpower
Stefan Martinovic’s superpower is his ability to think outside the box. This unique talent allows him to innovate and find creative solutions in the real estate development industry, particularly in integrating sustainability and technology.
An example of Stefan's superpower in action is his work on a master plan development in northwest Baltimore. Faced with a heavily blighted area, Stefan and his team proposed bringing the nascent modular building industry to the city. This initiative created jobs paying a living wage and provided a new industry to the area while also delivering new housing supply to replace dilapidated structures. This innovative approach touched on almost every facet of urban development and has principles that carry through to his current projects.
Tips for Developing the Superpower:
Embrace Naivete: Approach challenges with a beginner’s mind, free from preconceived notions. This allows for more creative problem-solving.
Always Learn: Continuously seek new knowledge and perspectives to fuel innovative thinking.
Question Established Processes: Don’t be afraid to challenge existing business processes and explore new ways to achieve goals.
Vet Crazy Ideas: Evaluate the viability of unconventional ideas, as they might provide novel solutions others haven’t considered.
By following Stefan Martinovic’s example and advice, you can make thinking outside the box a skill. With practice and effort, you could make it a superpower that enables you to do more good in the world.
Remember, however, that research into success suggests that building on your own superpowers is more important than creating new ones or overcoming weaknesses. You do you!
Guest Profile
Stefan Martinovic (he/him):
Founder, Circular
About Circular: Circular is a real estate company developing an ecosystem of sustainability-driven projects across agriculture, hospitality and housing that realize the benefits of regeneration and the circular economy.
The Circular project portfolio captures unique economic and environmental synergies by employing an ecosystem-based approach to sustainable development grounded in five core principles:
Grow Regeneratively: Cultivate sustenance using practices that promote soil health, ecological restoration and carbon sequestration
Consume Consciously: Deliver exceptional hospitality experiences with a focus on local, responsibly sourced fresh ingredients
Upcycle Perpetually: Divert organic waste into value-added products, including compost, packaging, and building materials
Plan With Purpose: Conserve and improve property with programs designed to respect the land while benefiting areas of community need
Build Sustainably: Develop high-performance buildings leveraging new construction technologies and locally sourced bio-based materials
Website: www.circular.enterprises
Company Facebook Page: fb.com/profile.php?id=61556695478286
Instagram Handle: @circular.enterprises
Other URL: smallchange.co/projects/circular
Biographical Information: Stefan Martinovic is the Founder & Manager of Circular Enterprises LLC. He is a seasoned innovator and serial entrepreneur with expertise in real estate, economic development, technology, and investment management.
Nearly the entirety of Stefan’s professional career has been a focus on applying emerging technologies to real estate development. He is a Professor at the NYU Schack Institute of Real Estate and was recently an Entrepreneur In Residence at Tenney 110, a subsidiary of AmFam Group, where he launched new real estate technology ventures.
Stefan held key roles as VP of Business Development at Placer.ai, a $1B location analytics technology company. He served as VP of Investments at Midwood, a $2B owner-developer with a 140 property national portfolio across 10 states, positioning Midwood among the most progressive institutional investors in NYC CRE.
Stefan was the Real Estate Board of New York's first Director of Innovation, where he launched NYC's Multiple Listing Service. He co-founded and was CEO of Create.io, a VC-backed software startup pioneering property data & 3D maps for urban development.
Stefan is a member of the ULI’s Technology & Innovation Council and an investor and advisor to numerous real estate tech startups. He holds an MBA in Finance from The College of William & Mary, and a BBA in Finance from Seton Hall University
X/Twitter Handle: @stef7321
Personal Facebook Profile: fb.com/profile.php?id=61555721235997
Linkedin: linkedin.com/in/stefanmartinovic
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