Nikonomics - The Economics of Small Business

62 - From Architect to Developer: Managing $350M Projects with Antonia Botero

Sep 25, 2024

Antonia Botero, founder of MADD Project, shares her journey from architect to developer, managing $350 million projects in commercial real estate. She discusses the intricate dynamics of development fees and their impact on project incentives. Understanding market data and financial structuring emerges as crucial for success. Antonia reflects on the transition from architecture to entrepreneurship, emphasizing resilience, transparency, and the challenges faced during COVID-19. Her insights offer a blend of professional expertise and personal anecdotes that make for an engaging discussion.

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Intro

00:00 • 2min

Navigating Commercial Development Management

01:30 • 6min

Navigating Architectural Challenges and Entrepreneurial Insights

07:11 • 2min

Navigating Real Estate Development

09:13 • 6min

From Employee to Entrepreneur: Navigating Development Challenges

15:15 • 12min

Navigating Client Acquisition in Real Estate

26:59 • 10min

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Join me, Nik (https://x.com/CoFoundersNik), as I sit down with Antonia Patero (https://x.com/antonia_mdprjct), founder of MADD Project, a commercial real estate development management company. Antonia shares her journey from architecture to development and explains how her firm handles everything from concept to completion for large-scale commercial projects. In this episode, we discuss how development fees can misalign incentives and why understanding market data and financial structuring is crucial before engaging a design team.

Questions this Episode Answers:

What is the transition from architecture to development like?
How do development fees work in large-scale projects?
Why can misalignment of incentives be an issue in real estate?
What role does market data play in successful development projects?
How can developers better structure projects for investors?

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This week we covered:

00:00 Highlights
00:44 Meet Antonia Botero: From Architecture to Development
01:27 Understanding Development Fees and Market Data
02:00 Comparing Commercial and Residential Projects
03:08 The Role of an Architect in Development
04:55 Market Analysis and Financial Structuring
07:10 Antonia's Career Journey and Starting Mad Project
10:44 Economic Incentives and Development Fees
20:35 The Million Dollar Team Dilemma
20:43 The Value of Project-Based Hiring
20:56 Challenges of In-House Teams
21:24 The Better Model for Managing Fees
22:59 Starting a Company in 2017
25:05 Navigating COVID-19 Challenges
26:58 Customer Acquisition Strategies
27:45 The Importance of Word of Mouth
30:25 Managing Projects Across the Country
32:23 Rapid Fire Questions
36:21 Final Thoughts and Contact Information