Bob Bauchman's 'bittersweet' farewell to Vero Beach

Robert W. Bauchman, who came to Vero Beach 13 years ago shortly after Northern Trust acquired the old Beach Bank, is leaving the small-town life of the barrier island to head the Northern Trust office in San Diego, America’s eighth largest city. In this farewell interview, we asked him to reflect on his time in Vero Beach and his thoughts on the future:

Q. What are the most significant changes you have seen during 13 years as a banker in Vero Beach?

Bauchman: Probably the most significant thing is a more affluent resident than what we typically may have found 13 years ago. Which is not so say John’s Island did not have affluence, but Windsor and Orchid Island were fairly new when I arrived here. The opportunities we are seeing in terms of our business as it relates to the size of the relationship, the assets under management, have grown significantly. I think that the community – because of the quality, the amenities, the environment – has continued to attract a more affluent resident. We’ve seen it in some of the residences that have been built in communities like John’s Island.

Q. Do you see that trend continuing?

Bauchman: I think so. Obviously on the barrier island, there is a limit in terms of growth. For the most part, when you look at the island, it is built out. In terms of the number of residential properties or households if you will, there’s not going to be a significant increase on the barrier island because there is very little land available for development. Yet, you see some of the changes in terms of people coming in and buying properties that are 30, 40 years old, tearing them down, and building something much larger. I think we will continue to see an attraction of more affluent individuals who can afford the prices we see here now in terms of real estate.

Q. What is your view of efforts to increase economic development in Indian River County?

Bauchman: In this environment, there are all kinds of incentives, all kinds of inducements, available to companies to relocate, in particular to ongoing concerns looking to do that. Yes, we can get state help, and obviously help from the local municipality, but I think we are limited in terms of what we can do. But I think in terms of attracting the Scripps or the Torrey Pines type of enterprise, I think that probably will be difficult just because of some of the infrastructure elements that we don’t have. One thing that makes it difficult is not having an airport.

Q. Is trying to induce a baseball team to come here to replace the Dodgers important to the community?

Bauchman: I think baseball means something. Tourism has always been an important element (of the local economy) and I know that in the years when I used to attend some of the Dodgers games, it was fascinating the number of people from out of town who would take a two-week vacation and go to nothing but spring training sites throughout Florida to watch spring training baseball.

So there obviously is an economic benefit. I also think that there’s an issue of community pride, and I think there are probably some tangibles to it from the standpoint. I am amazed at the number of times I have met people in different places around the country and mentioned that I am from Vero Beach, and people may have never been here, but for some reason they all knew Vero Beach is where the L.A. Dodgers have spring training.

Q. What do you think of the change that has taken place in the past couple of years on Ocean Drive?

Bauchman: I view it positively. I think that the renovation of the Vero Beach Hotel and Club was positive, that the renovation of the old Days Inn certainly was positive. I know that there are some people who question the design element of the property but I think both properties are real positive to the community. And from a business perspective, it is very nice to have some first class hotels that we can have people stay in because it has been a real challenge for us over the years.

I mean we have not just people from elsewhere in the Northern Trust organization that are staying here, but we have had our large board of directors meeting here, people in for conferences, we sponsor the Literary Society, and it has been a challenge in terms of, you know, other than the Disney Resort, which is not really suitable if you are trying to do business here in the central area, so I feel very positive about it. I am hoping that both properties are successful. It gives us some variety to the community.

I think that hopefully it will result in some other, what I would consider to be, high quality redevelopment along Ocean Drive. I am not concerned, as some people are, with this being paved over and turned into another Galt Ocean Mile or Miami Beach. Some of the restrictions we have in place in terms of the height ordinance are going to prevent those things from happening. And I think if we see a face lift ultimately over time on some of the retail properties there, that’s going to work to the benefit of the community in the long run.

If you go over to Naples, and I know people hate for any of us to ever make any comparisons to any place, but if you go to 5 th Avenue in Naples, I find it – you know, there are restaurants, there are shops, there are sidewalk cafes, it’s very attractive. And I think within the scope and context of Vero Beach, it would be a positive to see some high-quality redevelopment take place there.

Q. Can you imagine that occurring here over the next decade?

Bauchman: I think so. I ran the Coral Gables office for eight years. The Miracle Mile there kind of fell on hard times and was not particularly attractive. The buildings were tired. The streets were tired. There kind of shops that were available were not particularly good. But the city set about trying to promote redevelopment of that, and now, drive up and down that Miracle Mile, and it’s thriving. There are the outdoor cafes, some really nice shopping, and I think it is a benefit to the community.

Q. What are your thoughts on leaving Vero Beach?

Bauchman: This move of mine is somewhat bitter sweet. I have been here 13 ½ years. When I started thinking about this, it dawned on me that I had been here in Vero Beach longer than I had been in any place other than where I was born and raised. I love the community. I have made a lot of good friends, a lot of great relationships. My kids grew up here, graduated from high school, came back during their college years – my youngest is still in school and he’s not real happy about the move, he’s still looking at this as home and this is where his friends are – but (former Beach Bank President) John Moore had these sayings, and one was “People are somewhat like plants, and it is good to get repotted now and then.”

I look at this as kind of getting repotted. It’s a new opportunity, a larger market, a different part of the country. I came here because I thought it was the right thing to do. Great opportunity, nice community -- it wasn’t to get out of Miami. I am going to San Diego because I think it is a great opportunity, nice community – not to get out of Vero Beach. I will miss this community – but because of the connections my wife and I both have, not just here in Vero Beach but in Florida, I know we will be back to visit.