Acquisitions vs. Ground-Up Development

When Mill Creek Residential launched in 2011, it didn't look like the typical startup. Roughly 75 people came together to form the company with capital relationships already in place, construction expertise in hand, and a clear thesis on multifamily development. Fifteen years later, their vision has scaled into a national platform serving 29 markets across the country with $11.3 billion in assets under management.

Tim Alexander, Managing Director of Development, and Bill Endicott, Vice President of Construction join us on Design Development to share their journey and highlight the great things happening at Mill Creek. The two have worked alongside each other for nearly nine years in an office where development, construction, and property management sit under one roof. Today, they have five projects under construction across Greater Boston, ranging from garden-style townhomes nearing delivery to podium projects years in the making.

Before Mill Creek, Tim was a Development Manager at WS Development, where he led retail and mixed-use projects across the East Coast. He spent the previous seven years as a Development Executive at Clark Realty Capital, managing development activities for multifamily and mixed-use projects across Washington, D.C., and Northern Virginia. Tim holds a Bachelor of Arts from Colgate University and a Master of Business Administration from the Darden School of Business at the University of Virginia.

Bill spent a decade at Skanska USA Building before joining Mill Creek, working on public and private projects across education, aviation, life science, and transportation. He holds a Bachelor of Science in Civil Engineering from the University of New Hampshire and a Master of Science in Engineering and Project Management (Construction) from the University of California, Berkeley.

Inside this week's episode:

• How Mill Creek capitalizes deals across SMAs and third-party equity, and the discipline behind keeping investor relationships in balance
• Why having development, construction, and property management under one roof shapes what Mill Creek pursues, not just how they execute them
• The career journeys bringing Tim and Bill to Mill Creek, and what each of them learned along the way
• The construction realities of building in Boston, from post-tension concrete versus composite steel to subcontractor alignment
• The internal culture around mistakes, and why hiding one is more dangerous than making it

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