President
Location:
Phoenix, AZ
Company Description:
Our client is an integrated real estate investor, developer, operator and lender. On behalf of institutional and high net worth investors, it makes and manages debt and equity investments in real estate and real estate-related securities through multiple business lines and strategies including multifamily, industrial, office, land for development and other types of CRE equity investments as warranted by market conditions. Our client’s equity investments business includes end-to-end real estate development capabilities from entitlement to design, construction and delivery of institutional quality commercial real estate projects. Our client also has an affiliated credit business that is focused on transitional commercial real estate lending and other debt investments.
After two years of working with the Arizona State Land Department, our client’s affiliated project company formed for the purpose recently secured the rights to develop more than 2,300 acres of land proximate to Taiwan Semiconductor Manufacturing Corp’s new campus in North Phoenix, AZ. Our client is seeking a president to lead the project company, working in conjunction with our client’s executive leadership and other personnel to fulfill the project’s mission.
The project company is responsible for the site’s master planning, horizontal improvements and land sales/ground leases to both third parties and affiliates (for vertical development). The property has already been zoned for a multitude of uses including multifamily, retail, hospitality, light industrial, heavy manufacturing, flex office and office and is intended to be home to a new mixed-use community of the future with over 28 million SF of commercial development. The adjacent TSMC campus is expected to contain six semiconductor fabrication facilities across six phases with TSMC already committed to invest $65 billion in the first three phases alone. With each expected to include approximately 5.5 million SF, the first fab is expected to be fully operational late in 2024, the second fab topped out earlier this year and the third fab is in predevelopment and nearing construction commencement.
Position Description:
Master Planning Scope
- Utilizing a strong understanding of mixed-use master planning that includes retail, multifamily, hospitality, office, healthcare, education and industrial/manufacturing, develop and/or refine the master plan vision and strategy, ensuring alignment with company goals and market demands over time.
- Ensure feasibility studies, market analyses, and site assessments are properly done to inform planning decisions.
- Assist in evaluating site feasibility and updating the project proforma in order to determine the overall highest and best uses.
- Develop and help execute marketing and sales strategies to attract buyers and tenants for land parcels.
- Foster relationships with city, state and federal agencies, commercial real estate brokers, developers, and other key market players.
- Oversee and help update project business plans including budgets and schedules with the input of Construction Manager and Development Manager.
- Establish key performance indicators (KPIs) to track project progress and outcomes.
- Provide regular updates and detailed reports to client’s senior management and other stakeholders.
- Assist project company and client personnel in preparing ICOM memos.
Infrastructure Implementation
- Oversee the development of a comprehensive infrastructure implementation plan, including roads, wastewater, utilities, public transportation, and green spaces.
- Ensure the integration of smart city technologies and sustainable practices in infrastructure planning.
- Optimize project returns through mindful phasing of horizontal improvements.
Project Management Leadership
- Lead a high-performing team of internal and external professionals, including architects, engineers, planners, and project managers.
- Foster a collaborative and innovative work environment, promoting professional growth and development.
- Lead a project team including helping define consultant scopes and contract negotiations.
- Develop project entitlement strategies and lead the coordination of such efforts with internal team and local jurisdictional agencies.
- Promote and integrate sustainable design principles, renewable energy solutions, and innovative technologies throughout the community in ways that are accretive to project performance.
- Ensure the community’s development adheres to appropriate practices in environmental stewardship and resource efficiency taking into consideration all relevant project goals.
- Identify potential risks and challenges associated with the project and develop mitigation strategies.
- Ensure proactive problem-solving and conflict resolution to maintain project momentum.
- Act as the primary project company spokesperson for the community, representing the project in relation to the media, investors, government instrumentalities and other stakeholders.
- Foster strong relationships with community leaders, residents, and local organizations to ensure the project takes into account community needs and manage their expectations.
- Utilizing in depth product knowledge, coordinate with the planning, marketing and architectural team to develop the optimal product offering.
- Provide assistance with project capitalization strategies and efforts.
- Generally manage the development process including:
- Entitlements
- Design
- Permitting
- Contract tracking and administration
- Schedule and budget updates
- RFI review and management
- COR negotiating and tracking
- Review equity funding and bank draws
- Prepare and provide updates to Managing Directors for use with ICOM
- Manage ongoing communication with partners and lenders
- Manage updates to business plan including re-underwriting and ad hoc analyses
Marketing
- Assist sales/leasing team with marketing efforts including site tours, tenant coordination and required improvements.
Capital Markets
- Assist with securing debt and equity financing, as needed.
Qualifications
- Proven leadership track record.
- Significant experience in master planning/land development oversight and entitlements, preferably in Phoenix, but not required.
- Engineering or architectural background a plus.
- Excellent communication skills.
Required Education
- Bachelor’s degree required.
- MBA or advanced degree a plus.
To learn more about this position, contact: Margie Arcangelo | (239) 362-1335 | margie@crownsearch.com