New MD for ambitious Midlands developer
A Midlands independent developer has named a new managing director as it focuses on expansion plans.
Elevate Property Group, which currently has six live residential sites across Birmingham, Derby, and Nottingham, has promoted James Costello to the role after two years as development director.
The move sees founder Steve Dodd become Chief Executive Officer, giving him more time and capacity to focus on long-term strategy and pursuing opportunities that will regenerate city centre sites.
The news comes after a successful twelve months for the company, which currently has more than £165m worth of residential developments in production, including the restoration of Old Heaton House in the Jewellery Quarter.
James Costello said: “Working alongside Steve Dodd, I’ve really got to know the DNA of Elevate over the last two years and this promotion will give me the opportunity to take a greater role in day-to-day operations and the management of our development team.
“Importantly, it will also free Steve up to pursue a host of exciting development opportunities we have identified and to shape the future strategy of the business. Yes, we develop residential schemes, but we like to think we do it a little bit differently, with a passion for painstakingly restoring run-down buildings to their former glories.
“The recent announcement of The Silk Yard, our first foray into Derby, takes current activity to approximately 650 new homes across cities in the East and West Midlands, ranging from townhouses and penthouses, to one, two and three-bedroom apartments. All benefit from fantastic locations in the heart of city centres.”
“My role will be to ensure these developments remain on time and to explore ways in which we can improve the buyer journey even further.”
Costello, a chartered quantity surveyor, has spent more than twenty-five years in the construction industry, with seven years spent overseas working as a regional director in the Middle East.
Most recently, he was partner and head of cost consultancy at global construction consultants Rider Levett Bucknall, before joining Elevate Property Group in 2021.
Steve Dodd, CEO, said: “James has delivered the flagship Priory House scheme in Birmingham and kicked-off several high-profile projects since joining us as Development Director, most of which have been managed against the backdrop of rising build costs and interest rates.
“Despite these unprecedented challenges, we have kept our promise of creating properties that leave lasting legacies in the communities they are built in – this is really important to us.
“Our pace of expansion means we needed James to step-up to MD and I’m looking forward to what he will achieve with the outstanding senior management team we have in place.”