Mill Creek Appoints Managing Director for Retail
- Jun 15, 2016
Dallas—Mill Creek Residential announced the promotion of Peter Melmed to managing director – national practice leader for retail.
Mixed-use communities—those that feature a retail component in addition to apartment homes—have become a significantly larger portion of Mill Creek’s portfolio, creating the need for the new position. Melmed, formerly Mill Creek’s vice president of development, has a background in retail as well as multifamily development.
In his new role, Melmed will assist in the underwriting, design and marketing of community-based retail across multiple markets. The creation of his position also is designed to assist Mill Creek in both creating value for its communities and managing the risk associated with the retail component.
Melmed spent more than three years with EDENS, a retail-based developer, and also worked as a retail consultant for companies such as Faison, Lincoln Property and UrbanAtlantic. In addition, he periodically assisted Giant Foods in a retail capacity, the company for which he began his career with an 11-year stint as vice president of development and property management. In addition, Melmed worked with Freeman Companies, which operated a number of shopping centers in the Washington, D.C., area.
Mill Creek’s mixed-use communities feature a variety of retailers, most commonly fast-casual restaurants, convenience retailers and coffee shops. One prime example is Modera Tempo, based in Alexandria, Va., which features retailers such as Starbucks, Smashburger and a forthcoming Portner Brewhouse. In addition, a Harris Teeter grocery store was recently added to Modera Avenir Place in Merrifield, Va.
Mill Creek currently has a total of 500,000 square feet of retail space, including space in its development pipeline and 200,000 square feet that has already been developed.