Detroit Resident Brings Public-Private Partnership and Real Estate Development Expertise to City’s Thriving Riverfront Redevelopment Efforts
July 9, 2014 [DETROIT] – The Detroit RiverFront Conservancy (DRFC) Board of Directors today named Mark Wallace as the organization’s new chief executive officer and president. In his new role, Wallace, 37, will oversee the continued development and permanent stewardship of the Detroit riverfront that will ultimately provide 5.5 miles of contiguous access along the Detroit River, an international waterway bordering Downtown Detroit and shared with Windsor, Ontario, Canada. He will begin his new role in mid-August.
Wallace joins the DRFC from Hines Interests LP, where he has supported several multi-million dollar development projects in Detroit, Chicago and Toronto over the past 10 years. Most recently, he has served as the project manager of River Point, a 1.3 million square foot mixed-use development on the Chicago River that includes a public park and an extension of the city’s famed Chicago River Walk.
Wallace began his real estate development career on the Detroit riverfront in 2004 as an assistant project manager for Hines supporting the first major portion of the then newly established RiverWalk. He went on to support Wayne County’s acquisition of the Guardian Building in 2006, and has overseen property management contracts for the City of Detroit’s Coleman A. Young Municipal Center and Public Safety Headquarters.
From 2007 through 2012, Wallace was the leasing director of the 2.7 million square foot GM Renaissance Center, and in 2013, he managed a 13-acre residential-and commercial-use waterfront development in Toronto that was funded through a public-private partnership.
Prior to pursuing a real estate development track, Wallace taught English for three years at both the Detroit Public School’s Crocket Technical High School and at Horizons Upward Bound, a summer education program dedicated to create first generation college graduates in Detroit and Pontiac.
Wallace earned a bachelor’s and master’s degree in public policy from Princeton University and the University of Michigan, respectively. A dedicated Detroit resident, he is an active leader and member of several community organizations. He currently holds a seat on the YMCA Boll Center board of directors, and serves on the advisory boards of Kiva Detroit and Hatch Detroit. Wallace has been recognized as a Crain’s Detroit Business “40 Under Forty” and won the publication’s 2010 Deal of the Year Award.
“Mark’s commitment to the Detroit community, coupled with his leadership of urban real estate developments and experience in public-private partnerships, position him as the ideal person to lead the Detroit RiverFront Conservancy during this exciting time in our history,” said Matt Cullen, DRFC founding chairman.