Primary Responsibility: The scope of the position includes without limitation assuming responsibility for organizing and managing the developmental aspects of multiple projects including the following activities and functions:
Initiate, cause, and lead the process of development, including with respect to team members and groups, both internal to the company and external consultants (as the case may be) to efficiently execute the development, construction, design, and other elements and components essential to expedite, ensure quality, safety, and other components of success.
All development project management actions including without limitation, compiling the project business plan, organizing all the developmental project activities, securing entitlements, creating timelines and schedules, identifying responsible parties, implement measuring metrics. Identify each and every step that is to be accomplished in order to efficiently execute the approved project plan.
Development of, preparing the total project costs budgets according to timelines established above, including acquisition, design, construction, financing, FF&E, interest carry, brokerage fees, leasing, marketing, pre-opening staffing, and all other incidental costs associated with the specific project. Compile the internal financial summary, i.e., proforma, manufactured costs, and IBAP (Internal Business Action Plan), schedules and other documents for approval by Executive Management and the Board of Directors as the case may be. Monitor and manage the costs according to the approved budget, and business plan, and provide consistent and timely and complete reporting on stated frequencies.
Prepare all submittals required for financial and business approvals, including financial projections, including necessary narratives, and Omnibus Agreements in-order-to comprehensively present the overall project plan, objectives, including timelines and proposed outcomes for sign off by appropriate levels established.
Management of contracting and purchasing, preparing, reviewing, approving, and executing contracts for development and internal intercompany construction management and design agreements specific to the project, interior and exterior finishes, activities, public areas, and all other activities and functions that are customarily incorporated into the development of projects of this nature.
Study best practices within the real estate industry, create policies, set standards, train personnel, and otherwise take charge of the legacy aspects of both the projects and the company as appropriate in this sector of our client’s operations.
Engage in self-development practices, courses for growth in both ability and capacity to assume greater responsibilities over time.
Coordinate closely with other sectors of the company, i.e., Design and Construction, Sales, Marketing, Financing, and Executive management in order to maintain a team spirit, high levels of performance, collective thinking and shared ownership of the outcomes.
Other items which may come to play given the uniqueness of the business of real estate development; and carry out the work consistent with the goals and objectives further described below.
Planning/Entitlements: Cause various studies of the development plan, research the various components, i.e., apartments, office buildings, hotels to determine the best and most effective sizing, designs, themes, services, do’s and don’ts with respect to the design issues. Secure all required entitlements, zone changes, variances, and other approvals necessary to permit the intended development.
Design: Working closely with the VP of Design and Construction, cause the orderly and effective design of the various components of the project, including the planning, public areas, hardscape, landscape, exterior décor, material selections, and other components unique to the project. Work with the architect to create project design standards, signage guidelines and other standards to ensure a uniform, cohesive project design. Secure architects and engineers, negotiate best pricing and contracts, set schedules for design and engineering in concert with the master project plans, and value engineer in a collective way throughout the process with an eye to saving on each element that is within our control to manage and direct.
Construction: Working closely with the VP of Design and Construction, expedite the construction processes to insure maximum effective and value centered construction of the various components of the project. This officer shall have primary responsibility for ensuring that best practices, best pricing, best value is secured in line with the financial goals and the overall financial plans on behalf of the ownership of the project.
Development RFPs: To the extent the ownership elects to have third party developers participate in certain components of the developments, this individual shall prepare RFQ’s and RFPs for the use in the selection of qualified developer for those sections of the development. Present recommendations to the Project Executive and Ownership for the selection of the developers.
Financial/Budget Management: Take responsibility for causing and updating in timely manner all financial plans, budgets, and overall project pro-proformas including without limitation, master budgets on construction and development related costs, individual project budgets, and cost schedules, and manage the project and people subordinate with respect to maintaining such costs, processes for change authority, limitations on authority, policies, and practices. Oversee the accounting processes provided by the Central Business Group of our client with respect to the project, ensure that all bills are appropriately scrutinized, timely processed and paid, and that the reports are accurate as well as timely.
Such reports will be incorporated into the comprehensive reporting assembled and presented by the VP – Development Operations.
Schedules and Goals: Take responsibility for setting dates, times, and goals for those who are reporting directly or indirectly to this officer, and cause regular meetings and communications, work sessions to ensure that such schedules and goals are being delivered to the best of people’s ability.
Contracts: Cause contracts to be put in place on all activities, purchases, including internal contracts for i.e., construction and design services, and other services provided on an outsource basis, i.e., with the Central Business Group for financing, accounting, and property management. Manage such relationships.
Reporting: This position reports directly to the Managing Director. Prepare or cause to be prepared, weekly and monthly reports as directed by the Managing Director.
Education, Training and/or Experience – At least ten years of (i) commercial site acquisitions experience for a development company, (ii) a proven track record of performance in both deal volume and profitability, (iii) BS degree in engineering or business, finance together where candidate has gained on the job experience and knowledge sufficiently equivalent to allow the individual to deal with and manage the technical aspects of complex design and construction elements. Additional education including MS engineering or MBA beneficial.
Travel – As Needed
Knowledge, Skills, Abilities and Personal Characteristics:
High degree of integrity and business ethics.
High degree of energy to produce desired outcomes, sense of urgency.
Ability to assess and minimize risk in developing projects.
Ability to accurately forecast revenue and expenses for projects.
Ability to organize, and to manage multiple projects simultaneously as well as multiple resources within a given project, adhering to strict deadlines & budgets
Strong leadership and team-building skills.
Strong work ethic.
Strong MS Office skills.
Strong communication and negotiating skills.
The foregoing represents the general responsibilities of the Vice President - Development Operations and should not necessarily be construed as the only responsibilities with regard to successfully managing the overall project, as each project is distinctly unique.
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