Thomas G. Cousins
Class of 2003
- Co-Founder and Chairman Emeritus Cousins Properties Incorporated
Born in Georgia in 1931, Thomas Cousins was the second of four children in his family. His father was a car salesman, and the family moved often through the Southeast as his father changed jobs. Cousins' mother worked in a department store and later as an office manager for a doctor.
From the time he could walk, Cousins was given responsibilities around the house. By the time he was in third grade, he cut grass for his family as well as many neighbors. When he was older, he made deliveries for a drug store, worked as a soda jerk, and delivered newspapers. In high school, he worked as a lifeguard. "I never felt deprived in my childhood," he says. "Everyone was poor back then. I just felt lucky to be alive in a free country. I always felt I had opportunities before me, and, thinking back on it, I'm sure all my jobs kept me out of trouble."
Even though he describes himself as a bit of a dreamer growing up, Cousins said he did not spend a lot of time contemplating his future, maybe because he thought his future was predetermined. His uncle, for whom he was named, was a doctor, and Cousins remembers always being told he would also grow up to be a doctor.
An able student, Cousins graduated from high school in 1948 at the age of 16. He enrolled in the University of Georgia to study pre-med. To help pay for school, he worked at a gas station and a warehouse. "Working was just something I had to do," he says. "Money was always a problem growing up, and I decided early on that it was not going to be a problem for me or my future family. I knew even then that work makes you ready for life."
During his senior year, Cousins worked part time in a hospital and was allowed to watch a surgical procedure. It was a bad experience for him, and he quickly switched his major to business. A member of the Blue Key Honor Society, he graduated in 1952 in the top 10 percent of his class. At that time, the Korean War was in progress, and Cousins, who had participated in ROTC, joined the Air Force.
Cousins returned to Atlanta in 1954. He heard a rumor that Lloyds of London had predicted Atlanta would become the world's largest city by 2000. If that were going to be the case, thought Cousins, there would be a great deal of real estate changing hands. He got interviews with Atlanta's largest real estate companies and finally settled on Knox Homes. "It was the only job available that paid an advance against commission," he says. "I had only a few weeks' worth of food at home, and I needed a salary."
Knox Homes manufactured prefabricated houses that were sold to homebuilders. Cousins committed himself to learning the business and the market. Soon he was the company's top salesman. Three years later, Cousins invested $2,500 and co-founded his own development company, which quickly became the largest homebuilder and residential developer in Georgia. Cousins took his company public in 1962.
In 1965, Cousins began to diversify into commercial development. The company's most notable Atlanta developments include One Ninety One Peachtree Tower, Bank of America Plaza, The Pinnacle, the Omni Sports Arena, and The Avenue East Cobb. The company continued to expand to become one of the nation's most prominent real estate investment trusts. In 1997, Cousins Properties, Inc. was named National Developer of the Year.
Cousins retired as CEO of his firm so that he could devote more time to his three family foundations. Much of his philanthropy is focused on revitalizing Atlanta's inner-city neighborhoods and funding educational scholarships for at-risk youth. One of his major successes is the redevelopment of The Villages of East Lake, which grew to include 542 mixed-income residences, a YMCA, and a golf course open to East Lake youth. The project also includes a charter school that helps its students become skilled learners.
"I am committed to helping inner-city youth whose needs are so many," says Cousins. "I believe it is more blessed to give than to receive. Those who work hard and make money but don't give any of it away are missing out on real success in life. I worked hard throughout my life, and now I'm trying to leave the world a better place."