Vice President of Vertical Development
Salt Lake City Metro
Our client is developing and building a new private mountain resort community located in the Wasatch Mountains just 30 minutes north of Salt Lake City. The development encompasses 12,000 acres including 3,000 acres of private ski terrain; a Tom Fazio-designed private golf course; and 460 private homes and homesites being developed under a multi-phase 10–15-year buildout. This multi-billion-dollar project will offer the most exclusive array of skiing, golf, and a variety of other amenities in a private club setting in the U.S.
The Vice President of Vertical Development oversees the programming, design, permitting, construction, and delivery of all vertical development projects/initiatives. This position serves on the development team’s executive committee alongside the Chief Development Officer, VP of Horizontal Development and Director of Real Estate Finance. The VP of Vertical Development is charged with creating and delivering best-in class residential and club commercial, amenity, and recreational buildings and associated sitework that is on budget, on schedule and meets or exceeds member and ownership expectations. The VP of Vertical Development reports directly to the Chief Development Officer with communication with the company’s VP of Horizontal Development and Director of Real Estate Finance and is the key manager responsible for all vertical development undertaken by the organization.
RESPONSIBILITIES AND DUTIES:
- Manage all aspects of vertical real estate development projects (including single-family and multi-family residential building products, ski amenity buildings, golf amenity buildings, village commercial/club amenity buildings, recreational buildings, and other vertical development projects/initiatives.
- Develop compelling, efficient, and effective vertical development programming and strategies for all development projects/initiatives.
- Create accurate, achievable, and thoroughly detailed proforma-level budgets for all vertical development projects/initiatives and consistently execute sophisticated construction management and project financial management systems that maximize accountability and profitability for these projects/initiatives.
- Manage the design-related entitlement and construction-related permitting process of all vertical development projects, including relations with building and zoning officials, and local, regional and state regulatory agencies, to ensure regulatory and environmental compliance.
- Manage and oversee the development, construction and delivery/operational turnover of all vertical development projects and facilities.
- Prepare all construction documents (drawings, specifications, general conditions, special provisions, contracts, bid forms, submittals, response to RFIs and construction directives) for all vertical development construction projects.
- Develop the construction budgets/proformas and schedules for all vertical development projects/initiatives, including overhead costs, hard costs, soft costs, delivery, and interim operational budgets, etc.
- Develop and managing all contractor and sub-contractor relationships, including prequalification, bidding or negotiated construction cost relationships, contractor, and sub-contractor selection.
- Create, negotiate, and administer all construction contracts, including contract documentation, change orders, payment applications, substantial completion, punch lists and final completion.
- Create and manage the construction budgets/proformas and delivery schedules for all vertical development projects and ensure the financial performance of these projects so that they are delivered at (or below) budget/proforma costs and on (or ahead) of schedule.
- Oversee the field operations for all vertical projects and ensure a safe, secure and properly maintained construction site.
- Create and provide all necessary vertical development and construction reporting to the Chief Development Officer, other senior managers, shareholders, financial partners, lenders, members and operators.
- Coordinate with other development team project managers to ensure that vertical and horizontal development is properly coordinated and delivered.
- Coordinate with the managers of appropriate realty, club and operating departments to ensure that vertical development projects meet member, club and operating expectations and that delivery and turnover is smooth and well-coordinated.
- Maintain frequent and effective communication with the Chief Development Officer, VP of Horizontal Development, Director of Real Estate Finance, development team managers and senior leadership in other divisions of the company regarding vertical development matters and status.
- Plus, other responsibilities as our companies continue to grow and expand.
- Bachelor of Real Estate, Construction Management, Architecture or associated discipline with demonstrated excellence in managing vertical construction projects required. Master’s Degree in associated discipline preferred.
- Minimum five (5) years of experience in managing and delivering comparable sophisticated vertical real estate development projects with preference for exposure to resort and private club community vertical development.
- Superior real estate development management, construction management, budgeting, scheduling and project management skills.
- Excellent written, oral and spreadsheet/project management communication skills.
- Results-oriented project management, people management and analytical skills.