For Paul Hess, no adjustments were needed to become enamored with his profession or his surroundings. He has been an unabashed fan of both since a young age.
LMC’s Development Associate has a passion for real estate development since his pre-college days and has always referred to his New York market as “the most alive city in the world.”
Dedicated to helping LMC deliver cutting-edge apartment homes, Paul was recently featured in Real Estate Weekly as a Rising Star of 2019. He is also involved in various real estate groups throughout the region, including ULI and NYPEN, among others.
The graduate of Zicklin School of Business at Baruch College, who gained his first professional experience with Crescent Heights, recently celebrated an engagement. He and his fiancé live in the Lower East Side of Manhattan with their rescue dog, Roxy.
Here is a little more about Paul:
What is your official title and job description?
I am a Development Associate based out of our satellite New York Metro office, located in Jersey City. Our region spans the states of New York, New Jersey and Pennsylvania. I am privileged to wear multiple hats from helping with sourcing, underwriting and tying up land, to assisting on the entitlement and pre-construction process and ultimately getting the project built and stabilized.
What is your favorite part of your job?
I live and breathe development, and specifically apartments. I enjoy providing people with their most important space, which is a really rewarding concept. My favorite part of my job is seeing a project to completion and witnessing the tangible fruits of my labor when residents are enjoying their homes.
Development is so unique that no two days are ever the same. My job encompasses so many different skill sets, including both analytics and creativity. I like that my job keeps me on my toes encouraging me to think outside the box—whether it be in structuring deals in order to make them work, coming up with new design elements for a property or seeking ways to build more relationships.
Tell us about the region you work in—what makes it so attractive for a future LMC resident?
The NYC-metro area is one of the only true 24-hour regions. It is the heartbeat of North America and I feel so lucky to live inside of it. Everything is so easily accessible through an incredible public transportation system. The world-class cultural attractions are endless—top exhibits, theater, bars, restaurants, nightlife—we really have it all. Additionally, the area is a melting pot of so many unique and interesting cultures.
Why is it so important to be a good development neighbor? And how do you make sure you are good example of this?
In this industry reputation is really everything. With development, you typically need something in return from a municipality, whether it’s an upzone to allow for more density, a rezone to allow for apartments to be built or tax incentives. Beyond the sheer importance of always being an upright person, your project very much depends on it. People want to work with good people. Our office strives to give back to the community.
For example, as part of my latest LMC project, The Lively, we delivered a 14,200 square foot theater and studios to a local non-profit dance company/school. Additionally, we commissioned a large mural to be installed on one side of the façade of the building to further beautify the area and help support the arts.
We also installed the first-ever underground flood prevention system in the city to help with the flooding issue in the immediate surroundings. All of this was on LMC’s dollar and to ultimately be good neighbors.
What advice would you give someone looking for a career in development?
Patience is a virtue! You have to be extremely patient when doing ground-up development. There is a lengthy process involved, and many times it is an arduous one. With that said, do not be discouraged. Know that things do not happen overnight so do not get overly excited, or you will be let down easily.
You have to also be persistent; follow-up is key. We look at so many deals and chances are many won’t come to fruition. A lot of times this is due to reasons beyond your control so stay patient and steadfast.
LMC is a very special place to work, largely because of the special people who work here. Our company culture is infused with spirit, enthusiasm, passion, and vitality. Thank you for being an amazing example of that, Paul!
Above all else, we are committed to quality, communication, and integrity. This applies to the communities we build and lease, and to the relationships we have with our residents and each other. Are you looking for amazing opportunities for career growth at one of America’s leading apartment developers? We are always growing and looking to add amazing people to our LMC teams! Find your opportunity here: https://staging.livelmc.goodwork.dev/your-opportunity/