About - MVRK Development

mavᐧerᐧick (mav(ə)rik) n. An unorthodox or independent-minded person.

About MVRK Development

Choosing the right markets.

We work exclusively in carefully selected high-QOL locations.

MVRK is currently focused on opportunities in Boise, Spokane, Phoenix, Denver, and Colorado Springs. Why? These cities offer exceptional quality of life through abundant culture and recreation. They offer affordability relative to more expensive major western cities like Los Angeles, San Francisco, Seattle, and Portland. They are growing, attracting transplants from other areas. Most importantly, they offer the access, amenities, and rich experiences sought by Millennials and Gen Z — the generations helping to redefine how and where today’s renters and homebuyers choose to live, consume, and experience life.

Meanwhile, the old guard is playing the same game they’ve always played, focusing on suburban sprawl. They’re overlooking the evolving sociological drivers and preferences of the coming generations. Therein lies the tremendous opportunity relative to MVRK’s focus markets.

Choosing the right deals.

We only do deals with clear high-QOL value propositions.

High-QOL value propositions can be engineered in many different ways. Location, unit type, level of finish, technology, amenities, and pricing deltas can all play a role. MVRK’s aim is to identify how we can utilize these factors to appeal to the bulk of the market and create strong leverage over any market in which we operate. If you can create strong value propositions for the most in-demand pricing bands, you can consistently engineer profit.

Many development types can support these high-QOL value propositions. MVRK’s primary focus areas include multifamily value-add acquisition and renovation, multifamily ground-up development, townhome ground-up development for rent, and townhome ground-up development for sale. We also work on highly promising condominium ground-up development, office & retail, and special use opportunities.

MVRK’s MANAGEMENT PHILOSOPHY

Hands-on. Focused on people, and on doing the right thing.

For MVRK, marking profit is always a result of strong, solid relationships and doing things the right way. That’s why our management philosophy boils down to two simple rules:

Be hands-on and detail-oriented in all we do, from construction to asset management. This means weekly dialogues tracking plan execution, whether we’re focused on renovation, development, or lease rate targets. This means making it crystal clear to all parties that we as owners are paying attention to every detail. We set expectations up front and maintain advantageous positions at all times.
It’s about the people. Whether we’re talking about our tenants, managers, or general contractors, we put relationships first. We strive to empower each of these groups to improve their lives and careers. In our focus markets, word travels fast. There is no better social or political capital than being known and respected for strong relationships and doing the right thing.

Serving our tenants

We engineer spaces that we ourselves would be happy to call home, in cities where we ourselves would be happy to live. We don’t believe in cookie-cutter approaches, instead focusing on choosing and prioritizing the right investments at each property. We create community spaces where tenants can connect and have positive interactions. By helping to create a sense of community that people want to be part of, we not only elevate our tenants’ lives but also increase satisfaction, retention, occupancy, and profit.

Serving our property managers

We currently utilize third-party managers on all MVRK projects. Even as we create and maintain positive rapport with our managers, we do not allow them to get complacent. We are much more hands-on than most owners. We set expectations up front and meet weekly to measure against the plan. We dictate best practices for accounting, financial reporting, and leasing reports. To minimize vacancy, we actively manage expiration curves 45-60 days out. Staying ahead of expiration curves helps us increase market leverage and maintain higher rent levels.

Serving our contractors and consultants

We want contractors and consultants to be confident that we understand the difference between on-site constructability and plan execution. Cost and schedule challenges occur on every project, and dealing with these challenges is our absolute primary responsibility as developers. But it’s also important to be reasonable, able to make fluid adjustments and avoid being too rigid. To be both firm and forgiving is a fine line to walk. It requires empathy as well as experience.

Ultimately, we strive to be the type of developers that contractors want to go to battle with for everyday, because — in our focus markets — there is always another job out there. This means being engaged on a personal level, building genuine rapport, and working together to engineer efficiencies that can be leveraged for higher profits for all parties.

MEET THE MAVERICKS

We are independent thinkers who believe in holding ourselves to a higher standard of development.

We are forward-thinking, empathy-driven, and hands-on. Working together, we deliver a balanced mix of development, investment, acquisition, operations, finance, sales, leasing, planning, legal, market research, and risk management knowledge and experience. We create developments that add to and strengthen the communities in which they’re located.

Jesse Hamilton

MVRK Principal
Operations & Capital

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Jordan Meylan

MVRK Principal
Finance & Acquisitions

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