Director, Real Estate Development
Our client is full-service real estate firm which provides a comprehensive and diverse array of services to clients who rely on substantial expertise and disciplined, strategic approach. Our client has a unique ability to pull together specialized teams to provide each client with a highly customized solution in the areas of development, brokerage, appraisal and facility & renovation services. This group stands on 50 plus years of real estate development experience and has one of the most credible names in the industry.
ESSENTIAL JOB FUNCTIONS:
- Fundamental job requirements which an individual must be able to perform to accomplish the basic duties of the job.
- Demonstrated success delivering multiple, concurrent development projects on time and within Board-approved budget. Achieve established goals as outlined in the strategic plan, through efficient planning, direction and coordination of internal staff and external 3rd-party resources; review performance regularly against goals and take corrective action where required. This shall include active participation in development and management of financial proformas for each project.
- Provide assistance to the team on issues of long-term development planning, particularly related to the real estate services provided to the company assets as well as to third party customers.
- Coordinate internal and external development projects through all federal, state, county, municipal, and public utility reviews and other outside agency approvals.
- Represent owners and clients at public meetings for all scheduled entitlements and approvals for designated projects.
- Actively pursue new business opportunities for the portfolio growth as well as for fee-based development opportunities, keeping the strategic goals of company in focus.
- On the owner’s behalf, contract with and oversee all engineering, architectural and design professional activities to maximize projects’ aesthetic and economic potentials in conjunction with the strategic goals of the Owners. This shall include insuring that all required consulting services are completed in accordance with established schedules and budgets.
- Supervise the day-to-day activities of all consulting and design professionals reducing unnecessary delays, while improving profitability.
- Provide accurate and current project budgets, schedules and proformas via computerized data bases, to the internal and external owner.
- Work in formulating strategic plans to further grow the fee-based development segment, as well as develop opportunities for all the related High companies, as appropriate.
- Act as day-to-day liaison between Customer Service Teams (CST) members and deliver frequent and accurate updates to the Owner’s representatives and Senior Vice President – Development. Make field decisions, if necessary, on behalf of the owner on all construction projects and/or appraise owner of project issues.
- Maintain current knowledge on all federal, state, and local programs as they relate to the financing and development of real estate projects. Recommend business areas that will provide for sound growth and profitability of the company.
- Assist with the development of the annual operating budget for the real estate development services section of the Development Division; insure compliance with approved budgets; install and execute programs of income generation, cost control and cost reduction.
- Secure competitive solicitation and organization of bids for development projects through the management of the CST process and architectural, construction, brokerage and operations teams.
- Coordinate regular meetings with the leasing, asset management, design financing and construction teams to ensure that all development projects are addressing the needs of the market and the customer in timing and cost control.
- Promote favorable image with customer and endeavor in all activities and associations to further good will of the company.
- Any other projects or jobs as directed by the Senior Vice President – Development.
Responsible for the identification, coordination, and management of on-going internal and external development projects including site design, securing entitlements, proforma preparation, financial analysis, schedule adherence, revenue and cost control, obtaining municipal reviews and approvals and serving as the owner’s representative to design consultants, construction professionals and governmental agencies.
NATURE AND SCOPE OF POSITION:
- As Director-Real Estate Development, incumbent is responsible for day-to-day management of the real estate development activities for assigned projects and providing these services to internal entities, as well as external real estate customers on a fee-for-service basis.
- Adherence to Board-approved project budget, schedule, and construction quality is a crucial responsibility of this position.
- Working in conjunction with the finance analyst and the asset-class leaders, incumbent is responsible for updating and maintaining the proforma, project management and design development activities for the internal and external based customers of the Development Division.
- Incumbent will identify, engage, oversee and direct third-party consultants and design professionals such as architects, structural, MEP, civil, geo-technical and environmental engineers, etc.
- The Development Department participates in the establishment of the company strategic plan, goals and objectives as well as adherence to, and implementation of, same. The incumbent coordinates with each asset class leader and other corporate activity to insure achievement of shared strategic goals and to avoid duplication of efforts between departments.
- The position reviews operating results against established strategic goals, budgets and schedules.
EXPERIENCE, TRAINING, AND/OR EDUCATION REQUIRED:
- 4-year College degree required. 5-15 years of experience in real estate development and operations, land planning, architecture or civil engineering including related real estate business and complex real estate financing activities.
- Experience across multiple asset types including retail, multifamily, commercial, office and hotel highly desirable.
LICENSE, CERTIFICATES OR REGISTRATIONS REQUIRED:
- MSRE, MBA, CCIM designation preferred. PA Real Estate License desirable.
DIMENSIONS (SALES VOLUME, TOTAL EMPLOYEES REPORTING, PAYROLL, ETC.):
- Construction Volume: $10 – $50M
- Land and Development Volume: Demonstrated success delivering multiple, concurrent development projects plus management of existing portfolio activity.
REPORTING RELATIONSHIPS (UPWARD AND DOWNWARD):
- Incumbent will be responsible for the day-to-day supervision and direction of the general contractor and all third-party consultants required to manage the development process. The incumbent is appointed by and accountable to the Senior Vice President of Development.
MARGINAL JOB FUNCTIONS:
- Duties performed which are not critical to the successful completion of the essential job functions:
- Keeps abreast of developments in technical fields through appropriate literature, study and active association with professional organizations. Keeps alert to apply, or recommend application of, such developments as necessary in furthering strategic goals.
- Support Senior Management, team members and operating companies on projects as assigned by Senior Vice President – Development.
- Will serve on and may chair various company committees as appointed.
- Promote the interests and favorable image of the company.
- Demonstrate and support the values of the company philosophy.
- Perform special assignments as directed.