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Director of Development

Company is confidential
Salary
Competitive
Employment
Full Time
Real Estate Field
Location
New York
 NY
Postal Code
10001
Country
United States

This job is no longer active.

Description



Req Number:   SK374
Location:   NYC, NY
Posted: 11/28/2018
Catagory: Financial : Real Estate
Job Type: Permanent

Position 
Director of Development

Company Confidential

Location New York, NY

Reporting Relationship Group Vice President, Real Estate


 
Company Background & Culture

Our client is one of the nation’s premier omnichannel retailers.  Their corporate headquarters are based both, in NYC and in the Midwest. With 2017 sales of $20B plus, the company operates approximately 850 department and specialty stores as well as having dynamic online and mobile app capabilities.  The company’s customer-centric strategies are implemented by a talented and experienced employee base that provides the firm with an important competitive edge.

The company finds that their greatest strength lies in utilizing the talent and expertise of their people. The priority is to attract, retain and develop the most talented people in the retail industry and continue to leverage that as their greatest advantage.  For this company, diveristy reigns supereme and the company prides itself on having a strong multi-cultural workforce, fully representative of their mutlticutural customer base.

About the Role

The Development Director will work with the Group Vice President, Real Estate – Head of Development in establishing and executing a real estate centric strategic plan for the company’s portfolio of assets.  The goal of this strategy will be to maximize and partially monetize the value of the firm’s real estate portfolio while preserving flexibility for the operating retail business through development/redevelopment initiatives and largescale joint ventures. The successful candidate will be a proven real estate executive with a strong development/redevelopment track record, demonstrated project leadership experience, and acquisitions/structuring/financing acumen.  They will have a willingness to “roll up his/her sleeves” to ensure a successful outcome.

 

Responsibilities

  • Work closely with the Head of Development, and the Midwest real estate team to devise creative solutions to unlock latent value across the firm’s national real estate portfolio.
  • Articulate and champion a vision for “Value Creation Opportunities” and evaluate the feasibility of potential development/redevelopment projects based on sound planning principles and market realities.
  • Continuously evaluate the company’s portfolio.  Determine value of individual assets and analyze the potential for development and redevelopment, conceptualizing the highest and best use for the assets and assessing the physical feasibility of such re-use as well as the cost of redevelopment versus asset sale.
  • Define a strategy for the development/redevelopment opportunities within the portfolio.  Determine whether an asset should be sold or placed in a joint venture with a developer/operating partner to develop/redevelop.
  • Partner with the Head of Development, the real estate team, and additional internal business leaders in establishing and maintaining an environment which emphasizes real estate decision making based on sound empirical and analytical data.
  • Manage the development conceptualization process including the creation of site plans and corresponding pro formas to inform the development strategy of each asset.
  • Manage negotiations with joint venture partners and oversee the company’s interests in all development transactions, contracts, and project execution.
  • Oversee joint venture/operating partners during the full lifecycle of the development process for all development/redevelopment projects.
  • Assist joint venture/operating partners in providing strategic direction and management to multi-disciplinary teams facilitating large-scale planning and development/redevelopment efforts while keeping the firm’s value creation strategy in mind.
  • Bottom-line responsibility for budgets, project schedules, and economic goals and progress reporting to executives. Achieve the company’s development objectives (cost, schedule and quality) and investment/profitability targets.
  • Establish working groups on select projects, move projects forward and quickly address challenges.
  • Develop and maintain relationships with key real estate owners, developers, brokers, bankers, and consultants.
  • Work with the Head of Development and the real estate team to establish development best practices, policies and procedures.
  • Partner with real estate team (based in the Midwest) in the execution of asset specific development/redevelopment plans on an ongoing basis.
  • Engage in ongoing research and information gathering to ensure the company is keeping abreast of trends and best practices. Understand and anticipate changes in the marketplace.

Professional Experience/Qualifications

  • Minimum of 5 plus years of national real estate experience, with a strong focus on large scale retail development and redevelopment projects.
  • Bachelor’s degree from an accredited college/university (MBA is a bonus) 
    • High degree of resilience and ability to adapt in a fact paced changing environment with a high-volume workload and a “can do” attitude
    • Knowledge of additional areas of real estate development, including mixed-use, office, and residential uses in urban and suburban geographies, is a plus.
    • Possess the experience to quickly size up an asset, conceptualize possible redevelopment plans, and then formulate a basic redevelopment pro forma. Capable of making sound judgments that result in accurate preliminary decisions regarding sale and/or joint venture assets.
    • Proven track record of transaction success; familiarity with structuring, negotiating, and closing joint venture
    • Strong problem-solving, attention to detail, organizational, data review and time management
    • Proven ability to accurately manage multiple assignments, goals, and reporting requests, ensuring priorities are set and commitments and deadlines are met, with minimal direction and supervision
    • Strategic approach to decision-making with proven ability to analyze information, develop strategies and deliver results.
    • Unquestionable integrity in handling sensitive and confidential information required.
    • Accessible, direct, personable leader with vision who can set as well as meet high performance standards, along with a good sense of humor.

Competencies Compensation

  • A compensation package reflecting the individuals experience and performance history will be offered.

SK374

 
 

Experience


Not Specified


This job is no longer active.

Development Retail New York Full Time NY Development, Finance, Transaction Development & Acquisitions Associate other