Olivia Prais is a real estate development manager in the greater Chicago area for Ryan Companies US, Inc. Since graduating with a Master of Architecture degree from the University of Illinois just eight years ago, Olivia has risen from being a project architect to management roles in architecture to her current position at Ryan Companies.
Tell us about your background. Where did you grow up? Where did you go to school?
Since middle school, I’ve had an interest in architecture because of how it combines history, culture and creativity. Growing up in the Northwest suburbs of Chicago, I’ve always enjoyed seeing land transform and come to life. As my interests became my passion, I began taking classes like Drafting, Architecture 101, and Advanced Architecture in middle school and throughout high school, which nurtured the development of my architectural skill set by teaching me about the architectural process, structure and design. As my skills developed, I decided to focus my college learning experience at the University of Illinois Urbana-Champaign on pursuing studies in architecture.
How did you get your start in the industry?
During my studies of architecture, which included a Bachelor of Science in architecture and a Master of Architecture from the U of I, I interned at several prominent architecture and general contracting firms which paved the way for me to find my first job as an architect.
During this time, I became a licensed architect and earned my NCARB certification. After learning a great deal about architecture and holding various key positions at prominent firms, I achieved the role of project architect and grew into management roles. As I considered my career path, what I have achieved as an architect, and what I learned about real estate development, I decided to transition to the real estate development side and later joined Ryan Companies as a real estate development manager.
Did you have a mentor who helped you get on your feet, or is there someone you turn to now for support?
During my career and my time pursuing my education I was fortunate to have a strong support network. This included multiple supporters from college and people from my early roles breaking into the industry who connect regularly with me and took me under their wing, showing me the ins and outs of the business. While I worked with some of the area’s top developers, I learned how to apply my construction and architecture knowledge to development.
What does an average day in the life of Oliva Prais look like?
My average day involves finding the weekly balance of having the right amount of work and personal time. My week is typically managed via a checklist of weekly and daily activities for both work and home to keep me organized and on point. My focus is typically on balancing current projects and being a liaison between construction, design and municipalities, as well as coordinating with our financial partners to make sure they are in the loop and understand the construction schedule.
Another large part of my day involves working with our vice president of real estate development, to review potential new projects and opportunities. This is one of the areas where I bring in my architecture expertise to inform our decisions on development.
Architecture is a big part of the development process and helps us understand if the opportunity is a fit from multiple perspectives, including unit density, competitiveness, potential amenities, and unique features like lobby size or the opportunity to try something new. Being able to balance the “cool factor” with the practical side is a big part of real estate development. Beyond these responsibilities, I also assist with the municipal approval process to make sure we can ultimately build and create what we envisioned.
What do you like most about your job?
My job is very diverse and allows me to partner with multiple groups within our organization. One of my favorite teams to work with is our marketing team and Kelsey Peck. Real estate development allows me to use different parts of my brain at different times, which keeps me highly engaged, as no two days are the same. Being able to marry the architect and developer side to create great relationships is one of my favorite parts of real estate development because I can bridge the gap between our stakeholders and solve complex issues.
Looking to the future, what do you hope to achieve/work on that you have not already?
In my role, I look forward to helping to grow Ryan’s portfolio around the country. Over the long term, I want to be involved with the global review of design standards and establish standards that can serve as a benchmark for what Ryan multifamily apartments provide.
What kind of changes do you hope to see in the industry in the near future?
In the near future, I hope to see multifamily apartments that aren’t necessarily huge high-end luxury, but rather quality product offerings for the middle tier. This is an important swing as there is a lack of options between affordable and high-end luxury options on the market today.
How do you spend your time away from the office?
When I am away from the office, I enjoy traveling nationally and internationally as I love to get out and explore new places, friends and countries. Exploring Chicago is also a lot of fun, as I am always surprised by new pockets of interest, and as a foodie, new places like restaurants or brew pubs with innovative offerings.
What are you looking forward to most in the next year?
In the next year, I am looking forward to the growth of the Great Lakes Region multifamily apartment sector. We recently broke ground on Vyne on Haven, a 200-unit apartment community in Downtown Elmhurst. It’s rewarding to see this development come to fruition and meet the pent-up demand for transit-oriented living in the western suburbs. Seeing the potential for growth while making Ryan a standard in the industry for multifamily apartments is very exciting.