How Michael Hamburg Scaled $340M of Class-A Multifamily in St. Louis

Michael Hamburg is the founder of Pier Property Group, a St. Louis–based developer behind 1,200+ Class-A units and ~$340M in projects since 2016–2018. Raised around real estate, he studied economics at Vanderbilt, cut his teeth in real estate finance and tax-credit investing, and then launched PPG to develop adaptive-reuse and ground-up communities across the St. Louis MSA. His work includes Midtown’s Steelcote Square district and the mixed-use “Edwin” anchored by Target, the first Target inside St. Louis city limits in two decades.

In this episode, Michael explains why “location and demand drivers” sit above all else, why he pivoted from historic rehabs to scalable mid-rise, structured-parking builds, and how staying lean with repeat third-party partners reduces risk. He walks through his site underwriting process (programming, massing, costs, rents), shares the cold-call story that helped land Target in Midtown, and previews a pedestrian-connected, mixed-use plan in O’Fallon, IL tied to a 1.5M-visitor sports park. He also offers a 2025 reality check on rates, insurance, and flat rents—and closes with two timeless tips: be (politely) relentless, and pick up the phone.

Connect with Raj:

Twitter: ⁠twitter.com/ItsRajTut⁠

LinkedIn: ⁠https://www.linkedin.com/in/rajtut/

Instagram: ⁠instagram.com/ItsRajTut⁠

TikTok: ⁠https://www.tiktok.com/@itsrajtut

Connect with Michael:

Michael’s LinkedIn: https://www.linkedin.com/in/michael-hamburg-4b771525/

Website: https://www.pierpropertygroup.com/

About PPG & Bio: https://www.pierpropertygroup.com/about

Press (Target at The Edwin): https://www.slu.edu/news/2021/october/midtown-target-announcement.php

Timestamps:
00:00 Defining Class-A and demand drivers
01:29 Michael’s background and early career
07:59 Launching Pier Property Group and early historic projects
11:21 Pivot to ground-up development
36:28 The Target in Midtown story
41:21 Mixed-use project in O’Fallon, IL
45:19 Navigating 2025 challenges (rates, tariffs, rents)
51:12 Future of St. Louis development
59:27 Closing advice: persistence and pick up the phone

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