Derek Fleming is a nationally recognized real estate and economic development leader who structures catalytic public-private partnerships and leads master planning and development strategies that protect culture, align capital, and generate durable economic power.
With more than 20 years of experience across public agencies, private equity, and entrepreneurial development, Derek operates at the intersection of policy, finance, land use, and community identity. He advises cities, institutions, and mission-driven developers on the repositioning of catalytic sites, creative and cultural districts, retail corridors, and food-based economic ecosystems, translating vision into implementation-ready strategies that unlock investment while safeguarding community ownership.
Derek’s work spans highest-and-best-use analysis, capital stack structuring, entitlement strategy, retail and tenant ecosystem positioning, governance design, and long-term operating frameworks. He is particularly skilled at sequencing public and private investment to de-risk catalytic projects, align incentives, and establish financially viable district-scale redevelopment models. His approach ensures that master plans are not aspirational documents, but executable roadmaps tied to capital strategy and measurable economic impact.
Central to his practice is the advancement of Cultural Capital as a development platform, positioning neighborhood identity, heritage, creative production, and local entrepreneurship as economic infrastructure rather than peripheral assets. Through this lens, Derek has led redevelopment strategies in historically marginalized communities that elevate cultural districts as engines of tourism, small business growth, and generational wealth creation while protecting existing residents from displacement.
In addition to his advisory work, Derek brings hands-on development experience, having led the adaptive reuse and repositioning of culturally significant assets into high-performing commercial and community anchors. This dual-sector fluency allows him to bridge institutional priorities and market realities, structuring partnerships that leverage public investment effectively while meeting private capital performance expectations.
His experience managing empowerment zone lending portfolios and navigating complex entitlement environments equips him to guide clients through the full development lifecycle, from early visioning and district strategy through capitalization and implementation, ensuring projects are financially durable, politically viable, and culturally grounded.
Derek holds a bachelor’s degree from the University of California at Berkeley and an MBA from Kellogg School of Management.
- San Francisco Redevelopment Agency
- Market Development Real Estate Manager at Empire State Development Corporation
- Managing Partner at MSDG
Projects
HR&A worked with Forest Forward, a Dallas-based non-profit, to quantify the economic and community impacts of redeveloping the historic Forest Theater in South Dallas. Our analysis demonstrated how this landmark project would generate measurable economic benefits while expanding equitable access to cultural arts facilities and strengthening community health and safety outcomes across South Dallas.
HR&A positioned Audible to demonstrate and amplify its economic impact in Newark. Working with the Global Center for Urban Development, we developed evaluation frameworks and conducted economic analysis quantifying Audible's contributions as a major employer in the region's cultural economy while creating strategic tools to guide future community investments.
HR&A led a multidisciplinary team to develop an implementation framework for community-led investment in Atlanta's Sweet Auburn neighborhood, working with local organizations to create the SAGE District model that prioritizes affordability, racial justice, and green infrastructure while building Black wealth and preventing displacement.
The Seattle Mariners are transforming the area surrounding T-Mobile Park into a dynamic stadium district that will activate Seattle's south Downtown year-round. HR&A led a team with Mithun and Nelson Nygaard through a comprehensive master planning process that evaluated property acquisition, tested development scenarios, and delivered an implementable plan now advancing toward construction.
HR&A served as strategic partner and development advisor to Rice Management Company for The Ion and broader 16-acre Ion District in Houston, overseeing real estate and programmatic development. This comprehensive advisory role helped successfully transform a historic former Sears department store into a thriving innovation hub while laying the groundwork for a 3-5 million square foot mixed-use innovation district that fosters an inclusive tech ecosystem and creates equitable economic opportunities.
HR&A Advisors worked with Friends of the High Line and the New York City Department of Planning to demonstrate the economic potential of transforming the abandoned High Line railway into a public park. Through detailed impact analysis and an innovative rezoning strategy, HR&A helped create a world-renowned public space that has generated $52 billion in economic activity and reshaped Manhattan’s West Side.
