Chief Executive Officer
Our client, Verdae Development Inc. (VDI), is a wholly owned subsidiary of Hollingsworth Funds (HF), a not-for-profit foundation of approximately $400 million located in Greenville, SC. HF was founded by a local industrialist who left his fortune, most of which was in land value, to a foundation that is organized to support Furman University (45%), the YMCA (10%), and the general betterment of the Greenville community (45%). Included in HF’s assets is approximately $100M of land ready for development in a 1,100-acre master-planned community within the Greenville, SC city limits called Verdae.
Since its inception in 2005, Verdae has followed a master plan for an urban infill development that to date has yielded over 750 housing units, 1,450 apartment units, 2 senior housing properties, a significant number of jobs that work in Verdae. With nearly 600 acres left to develop and redevelop (replacing aging big box retail buildings), HF is currently completing an update to the master plan. HR&A Advisors, together with Beyer Blinder Belle (BBB) architects and planners, led HF/VDI through the master planning process. The result is a focus on approximately 200 acres of land fronting Laurens Road, a gateway into the city, that would see the exciting redevelopment and place making of a new urban district within Greenville along its premier urban bike trail, the Swamp Rabbit Trail (SRT).
Greenville has experienced rapid economic and urban growth over the last 20 years that put it on many top ten lists for small cities as a place to live, a destination to visit, and a pro-business area ripe for growth. With an MSA of approximately 1M and $40B local economy, greater Greenville has become a destination for many multinational companies to manufacture, distribute, and market goods to the North American market.
Verdae is situated in the geographic middle of the MSA and three miles from the award-winning downtown. HF is seeking a candidate to lead VDI through the next phase of the master plan, which will create the place the plan envisions and provide risk adjusted returns to HF to support its mission.
The CEO of Verdae will lead the corporation, a wholly owned subsidiary of HF, including:
- Creating the business plan(s) for the organization to execute the master plan
- Lead the securing of entitlements that correlate to the master plan from local government
- Negotiate and secure the funding for public infrastructure required to execute the master plan
- Work with a diverse cross-section of local partners/current landowners and the city to sustain and improve working relationships
- Enhance the brand that is Verdae to include the values and vision of the new masterplan
- Seek out the right partnerships and joint ventures with developers and users alike to achieve the goal of creating an exciting urban district within Greenville
- Structure those relationships into the right business ventures for VDI/HF to be successful yet also minimize risk
- Oversee the construction and development of the ventures required to fulfill the plan
- Manage the long-term relationships created through those ventures with sound asset management protocols and communication
- Build and hire the team required to complete the work of VDI
- Work with HF and the broader community to execute the vision, mission, and values of HF as defined within HF Real Estate strategy and master plan
- The CEO will have extensive experience in the development and creation of placemaking both as a developer and as a leader of a development team
- Familiarity and experience with a board and/or investment committee structure where major decisions/risks receive board level approval
- Strong track record working with local government to accomplish entitlements and infrastructure funding
- Bachelor’s degree from accredited higher education institution; MBA or MRED degree preferred
- Extensive relationships with the development community (such as ULI), preferably in the southeast
- Experience working within communities as a civic leader with a view towards economic mobility
- Demonstrated leadership of working with teams to accomplish a specific goal in a collaborative environment