Adam Gelter | Principal, Co-Founder

As the leader of 3CDC’s Real Estate team, Adam was responsible for all the organization’s real estate development, property management and leasing activity.  The role includes a hands-on oversight of all 3CDC’s real estate activity with the main priority of creating strategies and implementing plans for developing underutilized property within Cincinnati’s center city.  This includes a leadership role in over $2.5 billion of real estate development activity over the last 19 years. Responsibilities include development and execution of financing plans, oversight of design and construction, as well as property management and lease-up of a diverse range of projects. Project types include corporate headquarters, high-end hotels, affordable housing, high-rise multifamily, homeless facilities, condominiums, retail space, and civic spaces and buildings. Development projects overseen have resulted in 207 buildings restored, 49 new buildings constructed, 17 acres of restored civic space, two civic buildings restored, as well as the creation of 2,303 residential units, 1,056 hotel rooms, three comprehensive residential and service facilities for the homeless with 345 beds, the complete renovation of the Duke Energy Convention Center, 1,356,708 square feet of commercial space, and 5,918 parking spaces. Financing these developments requires expertise in the use of new market tax credits (NMTC) historic tax credits (HTC), Low-income housing tax credits (LIHTC), tax increment financing (TIF) as well as securing conventional debt. In addition to development of new projects, the role includes responsibility for annual operations of commercial real estate assets with annual revenue of over $48 million, including responsibility for leasing, budgeting and property management. 

Adam Gelter joined the 3CDC team as an intern in 2005. He later assumed the position of Development Manager, and in 2011 was promoted to Executive Vice President of Real Estate. He oversaw the $140 million development of the 84.51° headquarters, which includes a 1,100-space parking garage and 300,000 square feet of commercial space. He has also overseen his team in the $42 million Homeless to Homes project, which resulted in the construction of three new comprehensive residential and service facilities for the homeless, the $92 million Court & Walnut project, an 18-story mixed-use development that includes the new 45,000 square-foot Kroger On the Rhine grocery store, a 560-space parking garage and 139 residential units, and the $143 million renovation of Music Hall, one of Cincinnati’s most historic arts venues.

Gelter also led the development team in the revitalization of two key civic spaces in the urban core: the $48 million redevelopment and expansion of Washington Park – an 8-acre greenspace located across the street from Music Hall, completed in 2012 – and the $31.9 million restoration of Ziegler Park – a 4.5-acre greenspace situated between Over-the-Rhine and Pendleton, completed in 2017. Most recently, Gelter oversaw the $750 million Convention Center District project which includes the $250 million redevelopment of the Duke Energy Convention Center and the construction of an 800 room convention headquarters hotel.

Prior to joining the 3CDC team, Gelter received his Bachelor of Science in Community Development and Bachelor of Arts in Sociology from Vanderbilt University and Master of Community Planning with an Economic Development concentration from the University of Cincinnati.  Adam is on the Board of VisitCincy, Cincinnati’s Convention and Visitors Bureau and the Vice-Chair of Board at Shelterhouse, Cincinnati’s largest service provider for the homeless. Adam also co-founded Generocity513, a street outreach initiative, and RepresentCincy, an organization with a mission to make Over-the-Rhine’s business district the most diverse in the Country. Adam is an adjunct professor at the University of Cincinnati’s School of Design, Art, Architecture and Planning.

Steve Smith | Principal, Co-Founder

Steve has been with the Model Group since 1994, serving as CEO from 2000 to 2020. After founding Model Property Development in 2001, Mr. Smith pioneered the ‘Transformative Neighborhood Revitalization’ strategies that have become the hallmark of the Model Group’s development philosophy and approach. Since launching Model Property Development, the Model Group has developed over $1 Billion in real estate development. Equity investors and developers from across the country have toured the development projects Mr. Smith has led and attended seminars where he speaks about Model’s mission to positively transform communities and its “planner’s approach to development.” He serves on the board of Crossroads Community Health Center which has multiple locations in Hamilton County.

Mr. Smith lives in Over the Rhine with his wife Michelle, a neighborhood where they have worked to restore buildings and community since the 1980s. They have three adult children and three grandchildren. Steve is a graduate of Northern Kentucky University with a Bachelor’s Degree in Business Management.

Bobby Maly | Principal

Bobby Maly has been with Model Group since 2004 and has been in the CEO role since 2020. Prior to that, Bobby directed The Model Group’s daily operating activities as COO and led Model Property Development. Working with key neighborhood development agencies and community partners, Bobby has played a lead role in some of the most transformational urban mixed-use developments in downtown Cincinnati, Dayton, and Fort Wayne. In addition, he has played a central role in developing and financing most of Model’s high impact affordable housing in Ohio, Kentucky, and Indiana. He has led over $1 Billion in real estate development and construction. Bobby is an active leader in local civic organizations, including the Ohio Housing Council, the Cincinnati Chapter of YPO, the OTR Special Improvement District Board, the Housing Advisory Board for Cincinnati City Council and Administration, and at St. Xavier High School.

Mr. Maly earned a BA from Miami University in Oxford, Ohio and holds a Master of Public Policy degree from the University of Maryland. He lives in Cincinnati with his wife and four children.