DALLAS-An increase of projects has prompted locally based developer KDC to hire five senior-level executives. The new hires will focus on current and future projects, including the 186-acre, mixed-use development in Richardson, TX, which was announced in December, 2012. Another planned development is a business center at University of Kentucky in Lexington.
Coming on board are Bret Creel and Jeff Innmon (vice presidents of design and construction), Stewart Slack and Michael Alost (vice presidents of development) and Rick Sweat (senior project accountant).
"We've always tried to operate as a fairly lean staff, and we were fortunate enough to win several assignments in the past year," comments KDC president Toby Grove. The project in Richardson consists of a lot of moving parts, including hotel, retail and office components, along with the requisite infrastructure.
As such, "We hired several people because we have this and other projects underway," Grove tells GlobeSt.com. "Most of our implementation people are operating at capacity." He goes on to say that a couple of the new hires will focus specifically on the Richardson project, while the others will provide additional help for several projects.
"Over the years, we've hired without specific need at times, but in this instance, the people we sought out were for specific functions associated with developments either underway or coming out of the ground," Grove explains.
As an example, Sweat, the accountant, will focus on the Richardson mixed-use project. "There is a TIF in place for that, with various funding sources for roads and allocations for different projects," Grove notes. "We never really had accountants focused solely on one project before. But with 186 acres, we'll ultimately have six or seven sub-projects, especially if you count the infrastructure."
- Sweat, a CPA with more than 25 years of experience in the real estate industry, has worked for Ernst & Young's Dallas real estate practice and received a Bachelor of Business Administration in accounting degree from Texas A&M University.
- Creel, formerly with Balfour Beatty Construction, also served a stint with Crescent Real Estate as project manager for the Ritz Carlton hotel and condo towers. Creel received a Bachelor of Business Administration from the University of Texas.
- Innmon worked for KDC on a contract basis before coming on board full-time. Innmon's experience includes managing the development of the George W. Bush Presidential Library on the SMU campus, the AT&T Performing Arts Center/Winspear Opera House and the American Airlines Center. He has a Bachelor of Environmental Design from Texas A&M University.
Slack also worked for KDC on a contract basis, and had been partnered with Alost as part of Slack Alost, a full-service real estate development firm in Shreveport, LA. Stewart is a graduate of Louisiana State University, while Alost graduated from Texas A&M.
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