Vice President, Real Estate Development

Role:               Vice President, Real Estate Development

Job type:        Full-time Employee

Location:        Atlanta, Ga

Reports to:     Executive Vice President, Real Estate - Westside Future Fund

Date:               August 3, 2018

 

The Opportunity

The Westside Future Fund (WFF) is seeking to hire a Vice President for Real Estate Development who will help drive its real estate development activities.  The Westside Future Fund is dedicated to the revitalization of four historic neighborhoods of Atlanta’s Westside:  English Avenue, Vine City, Ashview Heights, and Atlanta University Center. The Vice President for Real Estate Development will initiate and coordinate resources and deliverables for a number of WFF’s project activities ranging from property acquisition, light and substantial rehabilitation, to ground-up development.  WFF’s product delivery strategy is largely based on leveraging third-party development service providers coupled with in-house project management expertise and capacity.  Key competencies include entitlements, land use planning, and design.  An ability to manage a small internal development team supported by a range of third party contractors and vendors is key.  The candidate would also be expected to add value to discussions within WFF and with stakeholders about the type, size, and structure of real estate development opportunities WFF should pursue.

 

About Westside Future Fund

WFF was established in December 2014 by a coalition of former Atlanta Mayor Kasim Reed, top CEOs, the Arthur M. Blank Family foundation, the Chick-Fil-A Foundation, and leaders from Atlanta’s private sector, universities, and nonprofits who believe in the future of and seek to revitalize the Westside. WFF’s mission is to advance a compassionate approach to neighborhood revitalization that creates a diverse, mixed income community, improves the quality of life for current and future residents and elevates the historic Westside’s unique history and culture.

 

WFF is a placed-based, but people focused organization and focuses on four impact areas: improving safety and security, community health and wellness, cradle to career education, and quality of mixed-use and mixed-income housing.  The WFF environment consists of a small entrepreneurial team that is mission-driven, creative, results-oriented and community-focused.

 

The real estate development function will help deploy a real estate investment fund (the “Fund”) coupled with philanthropy and other third-party capital sources. Working primarily with third parties, the fund will conceive, oversee design and construction, and lease/manage/sell projects that advance WFF’s core mission. WFF’s overarching development goal is to retain legacy westside residents and add to and enhance, not displace. Selected real estate projects are intended to meet two specific objectives:

 

1. Ensure current residents will receive the benefits of neighborhood transformation, including through preserved and enhanced affordable housing and blight remediation
2. Partner and invest in activities that will diversify the Westside, including opportunities that result in development of neighborhood amenities, workforce and market rate housing, and potentially retail and job-generating development.

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The Vice President of Real Estate Development will manage WFF’s real estate development team, reporting directly to the Executive Vice President, Real Estate.  S/he will participate in preparing and presenting opportunities and project status reports to the Real Estate Committee of the WFF Board, and the Investment Committee of the Fund.

 

Responsibilities and Duties

The Vice President for Real Estate Development will perform the following functions:

 

Real Estate Development:

• Working with the Executive Vice President, Real Estate, advance strategies and work plans for WFF real estate initiatives.
• Analyze real estate development projects and opportunities based on alignment with WFF’s overall strategy, project financing needs, and revenue and cost projections.
• Identify and recommend real estate deals that advance elements of the WFF’s core mission and focus areas.
• Identify and oversee the work of qualified third-party developers.
• Manage or directly coordinate all pre-development work associated with projects including due diligence on buildings and land, site visits, engaging architects, contractors, and other professionals, securing construction estimates and any other work necessary to bring the project to completion.
• Directly project manage a portion of the development portfolio, within established budget, schedule and scope parameters. Oversee project management work of direct report(s).
• Oversee a team that contracts for the leasing and management of, and disposition of, completed projects.

 

Real Estate Acquisition:

• Work with WFF partners and stakeholders to acquire properties in Westside focus areas, where publicly advertised property sales are unusual.

 Formation of Partnerships to Advance the Mission of the WFF:

• Form and/or sustain working relationships with major Westside land owners.
• Sustain partnerships with public stakeholders including Invest Atlanta, Atlanta Housing, and the City of Atlanta Planning and Community Development Department to pool resources and achieve shared objectives.

 Participation in Organizational Leadership:

Work with the Executive Vice President, Real Estate to:

• Sustain and develop an engaged and high-performing team of real estate professionals.
• Successfully advance and deliver quality project outcomes consistent with WFF’s near and longer term real estate execution strategy. 

  Qualifications

• Experience in urban community redevelopment.
• Experience in negotiating and acquiring small to large parcels of land.
• Proven ability in rehabilitating single family and multifamily housing, particularly in blighted areas.
• Proven skills to manage small but energized and effective team within a lean organization. (Experience growing a start-up would be a plus).
• Deep familiarity with community development, and a history of effective facilitation in conjunction with leadership in low and moderate-income neighborhoods.

  The candidate should have as many as possible of the following characteristics and capabilities:

• “Team-player” approach to engage effectively with active and engaged stakeholders with diverse personality types and who come from many different backgrounds
• Passion for and dedication to using real estate to improve the lives of Westside residents
• Flexible and collaborative working style to thrive in a landscape with shifting priorities as conditions on the Westside evolve
• Solid communication and presentation skills to represent the WFF publicly and to secure support for projects in a complex and challenging environment
• Demonstrated success building teams of talented professionals in the real estate and community development sectors
• Proven expertise advancing a range of different types of real estate projects and executing from conception to construction through completion
• Demonstrated understanding of the techniques and approach to acquire property and fight blight in an environment in which properties available for-sale are not advertised publicly
• Recognized professional stature in real estate and community development

 Education and Experience

 

Required

• 10+ years of relevant real experience (real estate acquisition development or equivalent experience in commercial and community development)
• A proven track record of success
• Undergraduate degree from in fields related to Architecture, Urban Planning, Real Estate, Business Administration, Engineering and/or Construction Management. Relevant graduate degree is a plus.

 Preferred

• Experience in Atlanta real estate market, including familiarity with key players, government officials, and other major stakeholders
• Significant prior experience conducting activities related to community development or affordable housing
• Significant prior experience in neighborhood and community development