Principal and EVP
Merrick Malone is a real estate developer, transactional attorney and former public administrator. He has more than 28 years of demonstrated urban real estate and economic development experience as a private developer/consultant and cabinet level official in Washington, DC and Detroit, Michigan. Mr. Malone has vast public and private experience ranging from downtown development to neighborhood transformation. He has served as a consultant to local municipalities, private developers and community development corporations.
Mr. Malone has worked in every aspect of real estate development, including site assemblage, design, project financing, project management, marketing/sales and leasing. As a public official and private developer, he has successfully worked on complex development issues involving entitlements, historical preservation, the use of alternative financing sources (public subsidies) and municipal and political issues that impact and/or impede projects. He has negotiated long-term leases, exclusive rights agreements and land disposition agreements for the District of Columbia and City of Detroit. He has a demonstrated public sector and private sector ability to create and implement private/public partnerships for the purpose of financing and completing economic development projects.
Most recently, Mr. Malone served as a consultant to the Governor-appointed Emergency Financial Manager in the restructuring and reformation of Detroit Public Schools. He oversaw and managed the $500 million new construction and school modernization program. He also assisted with the closing of 75 schools, consolidation of the remaining schools and implementation of best practices for financial and operational restructuring of the school district.
From 1992 to 1996, Mr. Malone simultaneously served as the Deputy Mayor for Economic Development and the Director of Housing and Community Development for the District of Columbia. In these roles, he directed and coordinated 12 city agencies with a combined budget of $650 million and 2,000 employees. He focused on strategic planning and implementation of the District of Columbia economic development initiatives and objectives. Mr. Malone was instrumental in the negotiation and completion of the downtown sports arena—now known as the Verizon Center—and in creating the public-private partnership for the development of the $30 million Black Entertainment Television corporate offices and studio. During his tenure, Mr. Malone initiated and implemented many private partnerships to finance the development, rehabilitation or conversion to homeownership of 4,500 units of housing, four major childcare centers, two neighborhood retail centers and restoration of the historic Lincoln Theatre.