Vice President of Development

ABOUT THE COMPANY

Our Client is a premier real estate investor, developer, and manager of creative office, life sciences/lab, and mixed-use assets. Headquartered in Washington, DC, and with a remote office in Indianapolis, IN. our Client is focused exclusively on knowledge markets anchored by leading universities, health systems, research institutions, and governments that are eager to collaborate and commercialize new ideas. They harness the economic benefits of anchor institutions engaged with their communities by building inspiring spaces and active places for the knowledge economy. They are a rapidly growing organization dedicated to building a diverse and inclusive team, and strive to foster belonging and empowerment at work. They are a joint venture partnership with a global investment firm headquartered in London with over $1.3 trillion in assets under management.

POSITION SUMMARY

The Vice-President, Development will be the lead local representative for a master developer role on a large mixed use development project with a leading regional Health System. This position will be responsible for execution of a District master plan including serving as the lead on all master developer activities and execution of company-led development. Our Client will pursue opportunities within the District, focused primarily on innovation / life science uses. The position will be responsible for those projects from initial concept planning stages through stabilization and successful transition to operations. Master planning efforts will involve identification, selection and oversight of sub-developers for non-company developed projects; management of subcontractors; creation/implementation of design/streetscape guidelines; pursuit of subsidies; and providing overall strategic guidance and support to the health system as master developer. Position offers a collaborative environment and opportunities for frequent interaction with high level executives. Position will be comprised of some periodic travel to Washington, DC office to facilitate in-person interaction and collaboration.

DUTIES & RESPONSIBILITIES

The Vice-President, Development will report to the Senior Vice President, Development and will require close interaction with senior management and other team members. Individuals are expected to be self-starters, have strong financial acumen, possess excellent communications skills, and to thrive in an entrepreneurial environment while bringing an institutional level work ethic and work product. This individual will ideally have a minimum of 10-15 years prior relevant real estate development experience, and experience in role as master developer of large, mixed-use, mixed-asset, multi-phased developments, with demonstrated success through the development process.

Primary responsibilities are described below.

• Manage all aspects of implementing the master plan.
• Manage broad aspects of ground up and adaptive reuse development and development components of a project.
• Recommend, communicate, and execute on strategy for achieving the highest and best use of development projects.
• Prepare investment committee presentation decks and memos, present and make recommendation to Investment Committee on development projects and provide periodic updates as necessary to achieve IC approval.
• Work collaboratively with internal VP of Construction or third-party Construction Manager to select General Contractor (GC), manage schedule and budget of development projects.
• Collaborate with internal Customer team as well as leasing brokers to ensure that development plan aligns with leasing strategy and objectives of partner anchor institutions.
• Provide development support to internal Investments team during underwriting of potential deals that align with the company's investment objectives, including analysis and review of offering materials and providing development budgets when applicable.
• Review Purchase & Sale Agreements and Development Management Agreements for projects with inside counsel (or outside counsel) and provide input into development matters.
• Provide development-related assistance and input into due diligence matters.
• Select, manage, and oversee Architect and Consultant teams for predevelopment, development, and construction projects.
• Negotiate professional service agreements with Consultants and AIA contracts with architects and GC.
• Coordinate design professionals in the development of necessary materials for every stage of the process, from initial conceptual layouts to construction drawings and specifications.
• Support internal Connections and Insights Team in evaluating business plan thesis, overall demand drivers and identifying anchor institution needs.
• Coordinate with internal and external resources to identify and source subsidy opportunities.
• Ensure smooth integration and on-time, on-budget delivery of projects.
• Create and maintain, with the Financial and Transaction Teams, comprehensive project budgets, cash flow projections, and project schedules and track ongoing project financial performance.
• Compile, review, and interpret applicable market data that is relevant to and supports the master plan development program.
• Work collaboratively with external stakeholders and constituents like the health system, City, State, community, etc. in furtherance of the execution of the master plan and development goals.
• Prepare updates on development activities for internal (and external) reporting purposes.
• Guide, mentor, and manage junior staff (e.g. Development Associate) that may be assigned to development projects lead by this position.
• Identify and execute on achieving identified DEIB goals and an externship/mentored study program for underrepresented populations with universities, schools, or organizations in market associated with development projects.
• Other duties as assigned by Senior Vice President of Development.

QUALIFICATIONS

• Bachelor’s degree. Masters preferred.
• 10-15 years minimum of relevant real estate development experience.
• Ability to collaborate effectively with internal team members and external stakeholders and track record of building strong relationships.
• Deep knowledge of project budgeting and ability to navigate Excel models and perform financial analysis.
• Detail oriented, well-organized, high-energy, positive attitude.
• Experience with issuing design and 3rd party consultant RFP’s.
• Excellent analytical and creative problem solver.
• Strong collaborative team player.
• Established ability to develop and maintain positive relationships with colleagues, managers, lenders, partners, and third parties.
• Experience with local and state-level subsidies.
• Experience with responding to development RFP’s.
• Possess excellent oral, written and organizational skills.
• Must be highly motivated, efficient and an effective time manager with a demonstrated track record of an ability to consistently manage multiple projects with accuracy.
• Ability to work proactively, both independently and in teams, and exhibit accountability of projects and deadlines.
• High level of proficiency in Excel, Bluebeam, PowerPoint, and Word.