Multistate Experienced Executive or Senior Manager role in the areas of Real Estate Development and Construction.
RICHARD CHOI
A seasoned real estate and construction professional with extensive multistate experience designing and implementing new profit-enhancing solutions within the areas of general contracting, construction, development, finance, marketing, and customer service. Strong team and client relation skills have enabled continued success as evidenced by organizational advancement. Functional areas of expertise include:
• Negotiation Skills
• Strategic Business Planning
• Value Engineering
• Integrated Systems Design
• Problem Solving • Project Management
• Budgeting & Purchasing
• Process Assessment & Enhancement
• Quality Control Initiatives
MAJOR ACCOMPLISHMENTS
1. Multistate Real Estate and Construction Experience in the Midwest and East Coast.
2. Supervised teams of up to 18 to expedite the development and construction of commercial, midrise, and 2,344 units of multifamily construction.
3. Facilitated the SEC audit of Client’s project via detailed construction status documentation and forensic accounting of all necessary actions to maximize asset-preservation.
4. Exceeded budgeted profit projections each fiscal year while serving as Development Manager.
5. Saved over $750,000 in midrise multifamily project by negotiating architectural issues with suburban planning commission.
6. Redesigned elevations for midrise project that produced $600,000 in value-engineering benefits.
7. Extensive experience in product development utilizing architectural background to fuse design aesthetics with budget and market requirements.
8. Accelerated sales velocities by introducing new townhome products and expediting all grassroots marketing within several ethnic communities, resulting in 248 closings in 2.2 years for a north suburban community.
9. Developed sales/construction user-interface system facilitating the implementation of client specifications.
10. Reduced pending warranty calls by 75% in three months for a southeast Wisconsin community.
11. Served as Division Controller for national builder’s Chicago and Cleveland divisions.
12. Designed and implemented new job-cost accounting system for midrise projects that was utilized by Construction, Purchasing, and Sales.
13. Determined optimal financing structures from prospective construction lenders and proposed the refinancing of a $28 million condo development to save the Partnership upwards from $700,000.
14. Applied tax consequences to limited partnership deals to justify higher Company profit percentages.
DEVELOPMENT / CONSTRUCTION EXPERIENCE:
WPM CONSTRUCTION, LLC 2009
Project Manager, General Contractor
• Expanded my multistate construction experience to New England.
• Oversaw midrise construction operations totaling over $60 million.
• Removed previous gridlock of a 102 unit midrise project by expediting solutions between Architect, Engineers, and Building Inspectors, resulting in the procurement of occupancies in just four months.
• Minimized changeorder impacts originating from Building Inspectors, Owner, and Subcontractors.
• Identified all drawing conflicts to Architect and Engineers for their review and response.
• Audited and removed all previous overbillings by subcontractors.
• Processed all Draws, Notices to Comply, Submittals, RFIs, and Changeorders between Owner, Architect, and Subcontractors.
• Terminated all non-compliant subcontractors.
• Executed all new subcontracts.
• Acting Liaison between Owner, Lender, and Subcontractors.
KLEIN CONSTRUCTION SERVICES, INC. 2007-2008
Senior Project Manager, General Contractor
• Oversaw midrise construction operations totaling $42 million.
• Drafted bid proposals for new business development operations in the restaurant, health club, retail, and office sectors.
• Orchestrated asset-preservation measures documenting detailed statuses and recommendations to facilitate the SEC audit of our Client’s project.
• Developed a Sales/construction user-interface system facilitating the implementation of client specifications.
• Supervised, trained, and developed Project Engineering staff in all of their written, electronic, and oral communications with Owner and subcontractors as they related to their job duties.
• Drafted and negotiated subcontractor scopes, exhibits, and awards.
• Identified specification conflicts and value-added opportunities within construction documents.
• Implemented product-modification solutions that were financially and aesthetically feasible.
• Minimized change order impacts via value-engineering initiatives.
• Supervised construction superintendent with subcontractor scheduling, as impacted by client changes made during construction.
KIMBALL HILL HOMES 1999-2007
Development Manager, Wisconsin Division
• Supervised all midrise construction operations in southeast Wisconsin project totaling 202 units.
• Developed feasibility studies and construction budgets for future midrise projects.
• Defined and expedited all pre-construction operations with architecture and marketing teams to minimize schedule delays.
• Drafted and negotiated all exhibits to General Contractor Agreements including project manuals, scope requirements, quality control standards, bond requirements, and liquidated damage clauses.
• Maintained construction schedules and budgets, approved all contractor bids, change orders, and subcontractor claims for midrise operations.
• Analyzed all cost and margin reports for profit maximization opportunities.
• Increased Customer Satisfaction Scores and reduced pending warranty calls by 75% in three months.
Development Manager, Chicago Division
• Exceeded budgeted profit projections for each fiscal year as Development Manager while managing all construction, sales, and customer care teams.
• Negotiated architectural issues with Planning Commission that saved over $750,000 in midrise construction project.
• Redesigned elevations for midrise project that produced $600,000 in value-engineering benefits.
• Approved all budgets, change orders, bids for midrise construction operations.
• Participated in all company-sponsored sales training seminars.
• Expedited all grassroots marketing within several ethnic communities and managed Grand Opening events.
• Managed multiple project sales teams that sold and closed 290 multifamily (midrise and townhome) units in three years.
• Maximized revenues by calibrating all House and Option pricing with their respective sales velocities and introducing new townhome product.
Division Controller
• Maximized profits via process assessment and product-pricing enhancements for both Chicago and Cleveland Divisions.
• Collaborated closely with CFO and Division Presidents in developing controls and systems to support policy procedures.
• Designed and implemented new job-cost accounting system for midrise projects that was utilized by Construction, Purchasing, and Sales.
• Assisted Architecture and Purchasing departments to minimize direct cost increases utilizing my background in general contracting and architecture.
• Presented new acquisition proposals to executive team after underwriting land improvement budgets; Interfaced with outside lenders for all subsequent land acquisitions.
• Managed equity partnership reporting for off-balance sheet projects.
• Prepared annual business plans, land purchase proformas, four-month & quarterly projections, and financial reviews for executives.
• Managed all financial reporting operations for the above divisions.
FOCUS DEVELOPMENT 1996-1999
Project Management
• Performed general project management duties for mixed use and midrise developer/contractor.
• Value-engineered specifications as necessary to maintain construction budgets.
• Expedited and coordinated all design changes between architects, engineers, sales, and construction.
• Redesigned the floor plans of three condominium units to meet both municipal and marketing requirements--one of which included a 3,600 sq. ft. unit priced at $720,000 that gained immediate interest by a prospective customer.
• Implemented product development modifications.
Investor Relations/Finance
• Proposed the refinancing of a current $28 million midrise development to save the Partnership $700,000.
• Determined optimal financing structures from prospective lenders. .
• Applied cost segregation analysis to identify tax consequences to limited partnerships and to justify higher percentage profits for Focus.
• Audited P&L statements of prospective joint-venture developers to determine project profitability.
• Established market value of new commercial properties based on forecasted cash flows.
• Prepared all Excel cash flow models, investor offering memorandums, lender proposals, cost analyses, and budgets for all new real estate development projects totaling $80 million.
Marketing
• Identified and analyzed market trends and sales traffic reports.
• Reviewed third-party market research results for new business development opportunities.
• Analyzed market competition to confirm adequate price-product positioning.
• Developed and managed profit margins for all customer upgrades.
• Developed sales agreements for features lists.
• Completed all merchandising and deliveries of condominium sales offices.
• Worked closely with third-party consultants for brochure and collateral development.
• Reviewed press releases and monthly newsletters mailed to all current customers.
• Periodically worked directly with clients to implement custom upgrade proposals.
• All the above tasks were catered to meet specific market segments accordingly.
University of Illinois, Urbana-Champaign
• Master of Business Administration
• Master of Architecture
• Bachelor of Science - Architectural Studies
• Foreign Exchange Program: Versailles, France
COMPUTER SKILLS
Microsoft Project, Excel, Word, PowerPoint, Access, Lotus Notes, Messenger, Builder 1440, Adobe Acrobat, Buildtopia, AS400.
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