let's dig in!
THE SKY'S NOT ACTUALLY THE LIMIT...
Metropolitan does not believe in artificial limits. Without such constraints, we are able to stretch as far as we need to, to ensure that the needs and objectives of our clients are fully satisfied. Our currency is not measured in dollars, but in the depth of the relationships we form -- on every project. We work with developers, investors and lenders and offer a suite of services tailored to the unique needs of each client type.
Our Development Services include:
FEE DEVELOPMENT: Metropolitan has been identifying, attacking and solving complex, multi-dimensional real estate projects and problems for many years. We offer comprehensive, cradle-to-grave development services, from site selection to punch list. We have been known to add significant value during the project design, entitlement and construction phases and have learned to see around corners that others cannot. Although you may be the owner of the project, we step up to "own" a positive outcome. We align with our clients and bend over backwards to become a truly valuable extension of their project teams. Our fees are always reasonable and our level of service unparalleled.
CONSULTING SERVICES: Metropolitan can also apply its two plus decades of real world development experience to help you shape your investment thesis or to guide or manage your project through its consulting services. We offer a broad range of a-la-carte services including (but not necessarily limited to):
- Due diligence
- Pre-development planning and consulting
- Feasibility analysis/market analysis
- Zoning and entitlements
- Planning and design management
- Proforma development and analysis
- Third party consultant management
- Construction Management
- Bidding and procurement
VENTURES: Metropolitan helps its clients maximize value in transactional opportunities of joint venture and partnership with a particular focus on minimizing risk, and the efficiency of dollars spent and value created. We have years of experience with a wide range of ventured transactions and have learned that the potential to create value is not always aligned with the strategic goals of the constituents involved. Let us vet your opportunity and help you decide whether and how to proceed.
IT'S ALL ABOUT RISK...
Our Investor and Lender Representation Services include:
PRE-INVESTMENT/UNDERWRITING REVIEW: We pride ourselves in providing first-class project underwriting and objective project evaluation services. We focus on not only understanding the material aspects of each project but also in identifying and quantifying potential risks. Finding gaps in underwriting from flaws in project planning, design, entitlement strategy through budgeting is critical while making investment decisions.
- Revenue and Cost Assumptions Review
- Financial Modeling Review
- Project Programing Review
- Project Status Reporting (inclusive of due diligence documentation review)
INVESTMENT PROGRESS REVIEW AND REPORTING: For going concerns or funded real estate developments, we can monitor project progress in two ways. Remote monitoring is perfect for pre-investment decision review or limited project scopes, but is frequently utilized to monitor progress and to review project documentation with monthly reporting. On-Site monitoring can be variable in nature and is typically tailored to the need of the client. It can range from occasional quality review to monthly on-site project visits with monthly executive level reporting. Typical services offered include the following.
Project Documentation:
- Project Programming Review
- Design completeness and scope of work review
- Entitlement status review
- Cost and constructability of a project (both hard and soft costs)
Financial Review:
- Payment Application review – typically monthly
- Billing accuracy, estimated cost vs. actual and review of monthly funding/ draw requests and back-up documentation
- Final payment and project close-out review
Quality Review:
- Monthly project design and construction progress reports
- Overall review of adherence to plans, specifications and accepted industry standards
- Adherence to construction schedule
- Monthly site visits with progress reports and quality control option
- Correctness of submittals, change orders and other documentation
- Project Turn-over process review
our team
Pawel (Paul) Hardej (Principal), trained as an architect, he is a developer & senior consultant, entitlement expert and community steward. He combines the vision and passion of a long-time entrepreneur with the steady hand and structured approach of a corporate professional, allowing him to interface naturally with a wide range of clients and partners. He has been directly responsible for the acquisition, design, development or redevelopment of almost $2.5 billion of mixed-use, condominium, multi-family communities totaling over 2,000 units, as well as multiple retail and entertainment properties. Pawel has also negotiated millions of dollars in incentives, tax credit deals and complex entitlements and is considered a zoning and urban planning expert. Prior to founding Metropolitan, he was an Executive Vice President at Lincoln Ventures and also served as Vice President of Development at Intracorp, one of North America’s largest residential developers, where he managed the development of multiple projects, including Austin project of the year in 2023, a 49-story 44 East condominium high-rise project in downtown Austin, TX. Pawel started his career in early 1990's in Chicago, IL, his first adopted hometown in the United States and later as founder and CEO of Metropolitan Development Enterprises, a vertically integrated CRE developer where he developed numerous award winning multifamily high & mid-rise and town home projects over a twenty plus year stretch.
A native of Warsaw, Poland and now residing in Austin, TX, Pawel studied Architecture at both Warsaw Polytechnic University and at the University of Detroit Mercy and also at the International Academy of Merchandising & Design in Chicago.
Murray Alscher (Director of Investments) is a real estate development and asset management professional with over 30 years of experience. Murray possesses an extensive and accomplished track record in evaluating, acquiring and generating profit in connection with all commercial real estate asset classes. He prefers a “hands on" approach with regard to overseeing development, investment/asset management and property management functions. In addition, Murray has cultivated a vast network of real estate development connections including lenders, equity resources, consultants, brokers and contractors. He has cultivated a quality reputation for transaction structuring, negotiation, visionary development, acquisitions/dispositions and financing at all levels of the capital stack, as well as complex financial modeling. He is known for his ability to find and create value in all facets of the real estate transactional continuum.
Murray began his career at Andersen Consulting in New York and later joined Metropolitan Structures in Chicago, a national mixed-use development firm co-owned by Metropolitan Insurance Co., ultimately rising to CFO/COO. He has held various senior executive positions with well known real estate investment organizations, including an NYSE-listed REIT, a Chicago-based private investment firm and ultimately formed his own company, DLN Real Estate Advisors where he built a successful business around the representation of multiple high net worth family offices in their pursuit of real estate value. Murray currently resides in Chicago and earned his bachelor’s degree in Accountancy, graduating with highest honors from the University of Illinois. He also earned an MBA from the University of Chicago and is also a licensed CPA.
Sel Bayhack (Senior Financial Analyst), is a financial professional with 30+ years of financial management and C-suite operational leadership with a focus on real estate development. Sel has performed a variety of financial management, advisory and operational roles in the manufacturing, software and real estate industries. Notably as CFO of a Chicago area boutique real estate investment firm; responsible for the management of $20M in annual cashflow, accounting detail for 60+ real estate assets with $100M of bank debt and a $10M personal loan portfolio. He also performed extensive financial analysis for a startup tech-enabled industrial/flex-warehouse platform which allowed users to customize the space to their business needs. Sel started his career with Ernst & Young in Johannesburg, South Africa as a senior auditor preparing financial models and analysis tools to assist clients with strategic planning. He then served in the South African Air Force as a finance officer preparing budgeting and cashflow tools. He received an honorable discharge as a full lieutenant, after 2 years of mandatory service.
A native of South Africa, Sel earned his bachelor’s degree in business and an advanced degree in accounting and computer science from the University of the Witwatersrand, the country’s largest and preeminent business school. He also holds the Chartered Accountant (SA) certification (CPA Equivalent).
Matt Long (Senior Construction Estimator), is a construction industry expert who consults in the field of pre-construction. Over the last 17 years, Matt has been a part of contracting billions of dollars in construction projects across the Dallas, Austin and Houston, Texas Markets. These projects span a wide variety of sectors including multifamily, mixed-Uuse, retail, office, senior living and hospitality to name a few.
He currently prices close to 5,000 units per month for clients across the United States. Matt’s passion is construction metrics and the ability to predict and dictate a project’s viability early in the pre-construction process by being conscious of how proven historical formulas balance with current market trends. Matt’s goal is always to avoid value engineering at later stages of design by helping architects create the most efficient building a site will bear at the concept stage.
Matt is married with 7 children and has a degree in Construction Science from the University of Oklahoma.