David Malmuth established his development firm in 2010 with a singular focus: to create art-inspired places that transform communities. This passion grows directly from the rebirth that occurred in Times Square and Hollywood as a result of his well-conceived and executed projects. In 2011, David and Pete Garcia formed I.D.E.A. Partners to lead the creation of the I.D.E.A. District in downtown San Diego.
Prior to starting his own firm, David was the founder and a Managing Director for seven years with RCLCO’s Development Services Group. David drew upon his 25 years of experience in the development business, which included completion as principal developer of over $1 billion in high-profile projects, to assisting numerous clients in the planning and execution of mixed-use, entertainment, and waterfront developments.
Between 1996 and 2002, David was a Senior Vice-President at TrizecHahn Development Corporation. During his six-year tenure, he was the key project executive on Hollywood & Highland and the Kodak Theater in Hollywood, CA (with architects Stan Eckstut and David Rockwell). During this same period, he initiated the development effort on Paseo Colorado in Pasadena, CA (also with Stan Eckstut).
Previous to his position at TrizecHahn, David was Vice-President/General Manager at Disney Development Company-West. During his nine years at The Walt Disney Company, he managed the development of over $200 million in projects including The Feature Animation Building in Burbank (with architect Robert Stern) and Disney Ice in Anaheim (with architect Frank Gehry).
From 1993 to 1996 he spearheaded Disney’s restoration of the New Amsterdam Theater in New York (with architect Hugh Hardy) and the highly acclaimed development of additional retail/entertainment business on New York’s famed 42nd Street.
Prior to joining The Walt Disney Company in 1988, David was a Vice-President at McCarthy Building Companies and was responsible for the start up of their successful Newport Beach, CA. office beginning in 1984.
Master of Business Administration; Stanford University Bachelor of Arts; Claremont McKenna College
* Full Member of the Urban Land Institute (ULI) – Policy and Practice Committee, Jury for the ULI Awards for Excellence – Americas (2010-2012)
* Founding Board Member of Disney Goals, a non-profit entity that provides underserved Anaheim youth with positive options through sports, academic training, and community service.
The New Amsterdam Theater, New York, NY
Led development and revitalization efforts for the $36 million New Amsterdam Theatre / Disney Store in New York, NY. This project led to the broader rebirth of 42nd Street accomplished by the 42nd Street Development Project Inc. (a joint city-state agency) and numerous private entities including AMC Theaters and Madame Tussaud’s.
Hollywood and Highland, Hollywood, CA
Project executive on Hollywood & Highland, a $615 million retail / entertainment / hotel complex. The mix includes 360,000 sq. ft. of fashion retail and 11 restaurants, a six-plex addition to the adjacent Grauman’s Chinese Theater, the 40,000 sq. ft. Grand Ballroom operated by Wolfgang Puck Catering, the 640-room Hollywood Renaissance Hotel, and the 3600-seat Kodak Theatre, home to the Academy Awards.®
Paseo Colorado, Pasadena, CA
Led the effort in the reimagining and development of a failed mall on Pasadena’s main street, Colorado Blvd., into a successful mixed-use project with 450,000 sq. ft. of upscale retail, restaurants and a 16-screen cinema, 391 luxury rental units (developed by Post Properties), and beautiful public spaces connecting the project to the City’s historic core.
Second+pch, Long Beach, CA
Lead developer on a $362 million mixed-use develop- ment on a 10.9 acre marina-front site at the eastern gateway to the City. The project consists of 220,00 sq. ft. of upscale retail and restaurants, 325 for-sale residential units, a 100-key boutique hotel operated by Joie de Vivre, and cultural/educational amenities including a 99-seat theater which will be the home of Cal Rep and a 4,000 sq. ft. Coastal Learning Center to be operated by the Marine Studies department at CSULB. The project is in the entitlements phase with Long Beach City Council approval anticipated in the summer of 2011 and Coastal Commission approval approximately one year later.
Pete Garcia is a Principal in I.D.E.A Partners, together with David Malmuth. Prior to starting I.D.E.A. Partners, Pete spent an entire career as a builder, developer, and engineer of major public and private real estate projects throughout the United States, Mexico, and Costa Rica, including residential, commercial, retail, industrial, hospitality, manufacturing, research, educational, process, and infrastructure projects.
From 2005 to 2010 he consulted for several companies, including Walt Disney Imagineering, and EMCOR, a Fortune 500 company and one of the largest engineering/construction/facilities services companies in the US/Canada/UK.
From 1996 to 2005 he was President/CEO of University Mechanical & Engineering Contractors, a major engineering and construction company with over $150 million of yearly revenues and over 1,200 employees with individual design/build projects exceeding $50 million. Offices are in San Diego, Los Angeles and Phoenix, Arizona.
From 1989 to 1996 he specialized in turnarounds of troubled companies and projects for institutional clients, including Portland General Electric, Hawaii’s Bishop Estates, Catholic Health Care West, and as Federal Bankruptcy Trustee. For Portland General Electric in particular he helped develop, enhance and divest their real estate portfolio including holdings in residential, commercial and industrial properties over a period of five years.
From 1973 to 1989 he developed, built, designed, and bought/sold major real estate projects, including developing and building the first biopharmaceutical facility in San Diego for Hybritech.
And from 1969 to 1973 he worked for Exxon in Texas designing and building major process plants at the biggest refinery in the world.
Bachelors degree in Industrial Engineering from the University of Florida
• Past Vice-Chairman of the State of California Commission for Economic Development
• Past Chairman of the San Diego Regional Economic Development Foundation
• Member strategic roundtable of San Diego Regional Economic Development Corporation
• Past Chairman and now Board member of AVID Center
• Member of San Diego State University Engineering Department Advisory Board
Significant Projects and Events
Development, Design and Construction of Hybritech
Led the team that developed, designed, and built the first biopharmaceutical facility in San Diego and one of the first ever. As the real estate venture capital entity we helped seed an industry, and many high-paying technology jobs in San Diego, given that most biopharmaceutical firms in San Diego spun out of Hybritech.
Developed/built/managed/enhanced/disposed a real estate portfolio for Portland General Electric
Led a team that, over a period of five years, exited Portland General Electric out of an ill-advised effort to become a major real estate developer in Portland, Ore- gon. Our team completed all projects under develop- ment, managed and enhanced the entire portfolio and sold all properties individually. This was a very large portfolio that included a master plan development with single-family residential homes, custom lots, condo- miniums, apartments, a neighborhood shopping center, and office buildings. Other projects in the portfolio included apartment complexes, retail, and retirement independent and assisted living.
Designed/built the Co-generation plants for UCSD and SDSU
Led the company that designed and built the plants at both universities that generate all the electricity and steam for their entire campuses. These very complex, major projects were built without any interruption to the campuses, and the end results exceeded all expectations.
Built a major semiconductor plant in Costa Rica for Intel
Led the company that built and assisted in the design of a complex semiconductor plant in Costa Rica, shipping everything to that country in containers and built the plant utilizing unskilled local labor that we fully trained and supervised. The project was completed with first-world quality, schedule, safety, and third-world cost to the full satisfaction of Intel.
Published author, motion picture writer/ producer, and painter
Published author of an award-winning novel. Wrote and produced an acclaimed motion picture, and his paintings are held by private, corporate, and institutional collectors throughout the US.
Immigrated alone to the US from Cuba at age 13