MIAMI—Marc S. Coleman has joined One Real Estate Development as president of development. He switched allegiances from Newgard Development Group, where he served as senior vice president of development.
Coleman has over 25 years of experience in development and construction. His experience includes over $2 billion worth of residential and mixed-use projects, representing millions of square feet of development.
“We are very pleased to be welcoming Marc to our team,” says Jeronimo Hirschfeld, Chairman and CEO of One Real Estate. “He has the experience and background we need to meet our strategic goals and expand our business.”
Coleman previously held senior management positions at Crescent Heights and Related Group of Florida. where he oversaw the development of luxury high-rise condominiums in Sunny Isles Beach, Aventura, and Fort Lauderdale. GlobeSt.com caught up with Coleman to learn why he made the jump and get his thoughts on where we are in the current development cycle in this exclusive interview.
GlobeSt.com: Why did you leave Newgard for One Real Estate?
Coleman: I was looking to do something a little different from what I had been doing for most of my career, which was high-end, high-rise condo development on the water or in well-established areas like Brickell. The projects were all essentially tall residential towers, with maybe a little bit of retail on the ground floor—sometimes isolated from their neighbors and not always fully integrated into the urban fabric.
The opportunity at One Real Estate Investments was a chance to do truly mixed-use, pedestrian friendly projects—transformative, arts-oriented projects in a neighborhood I think has huge potential: Wynwood. Wynwood is unique.
While attracting an international art crowd, Wynwood really appeals to a more local audience looking for something a bit more bohemian with genuine urban veritas. Think SoHo in New York.
Not everyone gets it. It is not the usual glitz and glamor that most people associate with Miami. It doesn't have the high-rises or swank eateries of Brickell or the clubs and restaurants of the Beach.
What it does have is authenticity. I think there is a section of the public that wants something other than the typical “Miami” experience—something more real and authentic. It's a bit edgy, but has a very cool, laid-back, artsy vibe.
You don't have to get dressed up to go to a club or restaurant. And once you are there you might see a guy in a suit and tie sharing the bar with a tattooed biker type. It's all good.
GlobeSt.com: Where are we in the current condo development cycle? What inning would you say we're in?
Coleman: That depends on the neighborhood. By and large, I think we are in the middle innings. However, some areas have seen a lot of development—both under construction and in the planning stages. They might be in later innings.
Taking the baseball analogy a bit further, I think what is important is that you assemble a good team, have a good strategy, and execute it well. You can still win hitting singles and doubles. You don't need to take a big swing hoping to hit it out of the park.
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