Vice President, Development

11 - 15 years experience  •  Financial Services

Salary depends on experience
Posted on 10/16/17
11 - 15 years experience
Financial Services
Salary depends on experience
Posted on 10/16/17

Firm Overview:

Our Client is a premier, full-service residential and mixed-use owner and developer in the Northeast with an industry leading reputation for successful completion, execution, and management of class A residential developments.

 

Position Overview:

The VP of Development reports to the Executive VP Development. The VP of Development must be a team leader and effective communicator who is able to provide hands-on management of a team necessary to successfully direct the

complete development process for mid-rise or high-rise multifamily dwelling projects. Will be responsible for oversight of all aspects of the project development processes, including conceptualization, entitlements/approvals, design, construction management, project close-out and transition to the management team for lease-up. Will represent Our Client in meetings with local and state government officials, community and neighborhood leaders, development partners, lenders and investors, and various industry organizations.  Must have extensive experience in design and construction processes with 10- 15years of experience in architecture, construction management, and broader development industry experience. Must have strong experience in identifying potential development opportunities, understanding market values and financial structures, site constraints and risks, zoning and environmental regulations and processes, etc.

 

This position, in cooperation with the Executive VP Development, will:

  1. Evaluate new development opportunities, oversee the day to day business of managing the overall development process including hiring project design consultants; determining physical site feasibility; establishing and achieving project design objectives; and meeting permitting, design, construction and delivery deadlines.
  2. Work with the Executive VP Finance to evaluate the financialrisks and profit potential of developments.
  3. Oversee and manage the architect and design professionals to meet all project deadlines as well as provide professional direction to the design team to clearly state and manage the financial goals of the projects.
  4. Oversee and manage the general contractor and the constructionbudget; monitor construction progress; ensure the modification of construction documents as necessary to achieve project design and cost objectives; anticipate and approve construction change orders; provide construction costs and schedules updates to financial performance projections; and coordinate with property management to create an successful transition from construction to marketing and management operations.

 

Responsibilities:

  • Prepare summary updates of projects for review in regular Development Team meetings, including project status and schedule, objectives achieved, critical project execution dates, critical issues to be resolved and updated financial projections,
  • Hold regular meetings with development team members, in small project groups, to oversee and coordinate the execution of ongoing development projects.
  • Review and ensure the maximum efficiency of all schedules for entitlements/approvals, design development, construction completion and lease-up.
  • Ensure timely coordination and transition between steps in the development process (feasibility to design, design to construction, construction to management and project closeout).
  • Work with the Executive VP Development to make decisions on project initiation and major project design directions.
  • Make daily decisions on project design elements, hiring of consultants, and ongoing project scheduling adjustments, response to and coordination with lenders, investors, local governments and consulting team members.
  • Ensure accurate and effective communication to appropriate parties during all phases of the project, documenting all decisions and modifications to the project scope, timeline and cost.
  • Trouble-shoot problems that may occur with a project during development or construction phases, and ensure that viable solutions are initiated and completed.
  • Attend regular, on-site project review meetings, for projects under construction.
  • Help to ensure all projects are built to plans and specs. Work with the GC and design consultants to ensure all parties are in agreement as to the scope of work prior to the permitting phase and that all costs are updated prior to closing to reflect those plans and scope of work.
  • Prepare written correspondence, reports and proposals as necessary to: (i) maintain the company’s relationships with local governments, neighborhood and community groups, lenders and investors, (ii) hold development partners and development consultants accountable to commitments and (iii) move projects through critical impediments to their completion.
  • Give public presentations, as needed: (i) at zoning and other entitlement hearings (ii) to potential development partners (e.g., housing and development authorities), (iii) ground breakings and grand openings and (iv) civic and neighborhood groups.
  • Work with the Executive VP Development and other development personnel to prepare quarterly budget updates and projections for each development project, including forecasts of capital requirements and operating budgets and projections of development revenues.
  • Assist the Executive VP Development in the periodic review of team members’ performance, and participate in the hiring of new team members, as requested by the Executive VP Development.
  • Represent Our Client in a professional manner at all times.
  • Attend professional development conferences to improve technical knowledge, understanding of new market and products, and leadership abilities.

 

Requirements:

  • Must be self-motivated, focused and detail oriented.
  • Must be willing and able to dedicate the long hours required during periods of heavy development activity and/ or when a project requires intense focus to push through difficult issues (which often occur in groups).
  • Must be an effective and creative problem solver. This must include the ability to address short-term problems strategically, by anticipating potential future problems and maintaining the viability of long-term priorities and objectives.
  • Must be able to run effective meetings and enforce disciplined project management schedules and procedures, while fostering a cordial and professional relationship amongst all team members.
  • Must be an effective communicator within a team environment, with an ability to bring develop consensus amongst team members from different disciplines and perspectives, while accomplishing the primary project and financial objectives.
  • Must be an effective communicator in a public environment, with the ability to win the confidence of neighborhood and/ or local government officials, overcome their concerns about proposed development, and reach an effective compromise, without sacrificing the company’s primary project and financial objectives.

 

Additional Qualifications:

Education: College degreerequired with a concentration in architecture/engineering, construction management, and/or real estate development. The position requires the ability to read and write English fluently, read and understand plans and specifications for construction, and the ability to perform mathematical functions and understand financial proformas.

Experience: 10-15years experience in managing the complete development process for Class A mid-rise or high-rise multifamily dwelling projects.

Skills:  Microsoft Word, Excel and Outlook; Microsoft Project; understanding of AutoCad and Autodesk Revit Architecture.

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