In this episode of Construction Genius, we’re joined by Zach Rapaport, founding principal of Meerkat, a real estate development consultancy focused on the hospitality segment.Meerkat offers strategic advisement for fractional development partnership insight and early stage exploration of a new deal/rebrand, as well as project leadership for development/renovation stage management.
Zach started his career on the construction side, working with GCs to build compelling projects in the hospitality space. Following his stint in construction, he made the shift to real estate development and has been in that space since, breathing life into new and existing hospitality concepts. Having held VP tenure in-house with Life House Hotels, Selina, and Joe & The Juice, he is familiar with getting minimally resourced ventures off the ground efficiently and sustainably.
With the majority of a typical project’s budget being construction (and the inherent risk associated with the process that requires a watchful eye), Zach and his team brings a wealth of knowledge and experience that keeps clients comfortable with the direction being taken for their company’s strategy via fractional development partner consulting as well as a project’s design & development via management.
🎙 What You’ll Learn in This Episode
Zach's Path to Construction: Discover how Zach's unique background led him into the construction industry and how his diverse experiences have shaped his approach to development.
From General Contractor to Owner’s Rep: Understand the challenges and learning curves Zach faced while transitioning from a general contractor to an owner's representative, and how this shift has influenced his perspective on project management.
What Makes a Contractor Stand Out?: Learn the key traits and practices that Zach believes differentiate successful contractors, including effective communication, speed, and quality of work.
Breaking the Owner’s Rep Barrier: Gain insights into how contractors can build trust and establish strong relationships with owner's representatives to enhance collaboration and project outcomes.
Best Practices for Site Reporting & Communication: Explore the importance of thorough site visits, detailed reporting, and proactive communication in ensuring project success and client satisfaction.
Handling Delays & Change Orders Effectively: Discover strategies for managing unexpected challenges, communicating delays, and handling change orders in a way that maintains trust and keeps projects on track.
Managing Conflict & High-Stakes Decisions: Learn how to navigate conflicts and make critical decisions under pressure, drawing from Zach's experiences in high-stakes project environments.
Red Flags That Make an Owner’s Rep Walk Away: Identify common pitfalls and warning signs that can deter an owner's representative from continuing a partnership with a contractor.
How Contractors Can Vet Their Clients: Understand the importance of contractors qualifying their clients to ensure alignment of values, expectations, and project goals before entering into agreements.
The Story Behind Meerkat Development & Closing Thoughts: Hear the origin story of Meerkat Development, its core values, and Zach's final thoughts on fostering successful collaborations in the construction industry.
💡 Key Takeaways
Proactive and transparent communication is crucial for building trust and ensuring project success.
Balancing speed and quality requires meticulous planning and a commitment to excellence.
Understanding the perspectives of both contractors and owner's representatives can lead to more effective collaboration and better project outcomes.
📚 Resources:
Connect with Zach
Website: https://www.meerkatdevelopment.com/
LinkedIn Handle: https://www.linkedin.com/in/zachrapaport/
Instagram: https://www.instagram.com/meerkatdevelopment/
Zach’s Restaurant Recommendations in New York City:
Scarr’s Pizza https://www.scarrspizza.com/
Wayan https://www.wayan-restaurants.com/new-york
McSorley’s https://mcsorleysoldalehouse.nyc/
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