Our Head of U.S. Residential Development, Erik Rose, discusses what makes developing residential buildings so rewarding - from the partners he collaborates with to the gratifying final product. Since joining Tishman Speyer in 2008, Erik has seen remarkable growth in the firm’s residential portfolio including expansion into new markets and product types. He describes how our residential platform has developed and his vision for the future.
Tishman Speyer is known for creating inspiring spaces where communities come together and thrive, and our residential properties are testaments to that vibrancy. We are committed to bettering the ever-changing landscape of our cities and their residents, and often that starts with living a people-first philosophy on urban living. Erik Rose, Senior Managing Director and Head of Residential Development in the U.S., has found that creating homes is the most personal way of being involved in a community “I think the inspiring aspect about being a developer – and particularly a residential developer – is ultimately you're delivering someone's home to them,” Rose says. “There is that emotional connectivity to something that I find extremely rewarding.”
Growing our residential platform
Since making our first investment into a residential property in 1989, we’ve served a wide variety of populations to meet their specific needs and added over 25,000 units of both for-rent apartments and for-sale condos in the United States, Brazil, China, and across Europe. From building housing for the homeless to redefining a skyline with a luxury tower, the firm has thoughtfully designed inviting spaces that inspire our residents.
In recent years, our global residential platform has expanded. Today, Tishman Speyer has more than 8,900 units in our residential development pipeline. Over the past year alone, we commenced construction on approximately 2,300 rental units in mixed-use projects in Boston, New York City, Washington, D.C., and Los Angeles. We also added 1,100 units across three residential communities in Boston, Atlanta, and Chicago to our portfolio and won two major residential asset management mandates in Germany. We commit to expansion with great thought and a focus on areas where we can contribute to a thriving community, highlight waterfront and skyline views, and provide access to urban green spaces.
Rose is excited for Tishman Speyer to plant deep roots in the firm’s new markets and to explore even further beyond them: “We continue to look around the corner and see what's next.”
In addition to our geographic diversity, Tishman Speyer’s multifamily acquisitions and developments are designed to serve residents across the income spectrum – from affordable and workforce housing to luxury market-rate rentals. TS Communities is our dedicated workforce and Affordable housing platform investing across the United States. Furthermore, Tishman Speyer has delivered or is in the process of constructing thousands of rental and condominium units across the world that also contain affordable and workforce housing components. We take pride in developing these units ourselves, guaranteeing the same level of quality across projects.
Being a residential developer is about collaboration
Inspiring environments don’t arise simply from blueprints, steel, and bricks; they come from talented, passionate, and dedicated professionals working together as partners. The firm partners with both globally recognized architects and local design talent to ensure a greater diversity of perspectives and an authentic experience. In addition, our in-house teams leverage their placemaking expertise to thoughtfully design homes, modern amenities, and communal areas designed for community and connection.
“I think one of the unique attributes about working at Tishman Speyer is having peers and colleagues who not only collectively have a passion for what we do, but are true team members and work collaboratively together,” Rose says. He relishes “working with extraordinary professionals—whether it's on the design side or (with) our capital partners – and bringing all that energy to bear to create someone's home.”
Coordinating large projects is never simple; Tishman Speyer's residential team members must juggle everything from budget to agency approvals to the smallest details and finishing touches that transform and elevate a “project” into a home. They coordinate with construction managers, architects, and a network of creative professionals and experts. Developers must always balance multiple sets of complex requirements, such as historic preservation protocols and sustainability goals.
“I think it's just an extraordinary thing to do for a living, to wake up each morning and say, ‘I'm going to solve those problems and bring that to fruition,’” Rose enthuses.
