The Director of Development will source and direct all activities necessary to expedite and complete all ground-up developments. These developments are expected to include, but may not be limited to, single tenant buildings, multi-tenant outparcel buildings, and potentially an entire shopping center and/or mixed-use development.
Essential Duties and Responsibilities:
Provide technical leadership and strategic execution for all ground-up development opportunities
Collect, analyze, and report on real estate, building and development trends and issues
Assist VP Development in preparing development reports and updates for the executive team
Coordinate developments with PECO departments including leasing, construction, finance, and legal.
Build and maintain relationships with 3rd party Consultants, Attorneys and General Contractors.
Act as the “owner” of the development process, coordinating all activities related to the entire life cycle of each development, including:
Pursuit
Create conceptual site plans for pursuit sites (engaging 3rd party consultants as necessary), with feedback from leasing and portfolio management
Work with portfolio management and leasing to refine site plans
Create cost estimate for execution of site plan
Engage leasing team to develop rent and tenant improvement assumptions for site plan
With finance and portfolio management, create proforma budget using the leasing and cost assumptions developed
Develop conceptual delivery schedule
Set up and maintain project files (including proforma, design documents, schedules, contracts)
Identify and summarize local zoning/municipal approval process(es) and budget required for each milestone.
Facilitate utility feasibility and budget impact.
Develop Marketing materials with Consulting Team.
Planning
Lead initial feasibility review (engaging legal and portfolio management teams)
Work with leasing team on all LOI’s and Leases, providing guidance on work letter, and ensuring economics are in line with budget assumptions
Select and engage consultants to create budget level design package
Identify and track outside General Contractor pricing updates
With finance and portfolio management, refine pursuit level budget
Begin entitlement process on a case-by-case basis
Communicate regularly throughout the process
Execution
Progress design and construction drawings
Prepare bid package
Take entitlements through the issuance of building permits.
Own the construction process, including timeline and budget, making regular construction site visits
Work with leasing team on all LOI’s and Leases, providing guidance on work letter, and ensuring economics are in line with budget assumptions
Oversee Project Manager(s) executing on tenant buildout and handoff process
Must be able to travel up to 25-50% of the work week.
Education / Experience Requirements:
Bachelor’s degree from an accredited institution in Business, Real Estate, Finance, or Construction Management strongly preferred. An MBA degree is a benefit.
Minimum 10 years of progressively responsible experience in retail real estate project development, asset management and/ or financial analysis.
A strong working knowledge of the retail development process, with specific expertise in grocery anchored neighborhood and community shopping center projects.
Ideal candidate has strong understanding of the conceptual budgeting, scheduling and process as they relate to grocery anchored development projects.
Candidate will have the ability to manage several medium and large ground-up development projects and major re-development projects simultaneously.
Excellent verbal and written communication skills, professional manner and computer literacy (MS Office required, Argus strongly preferred).
Highly organized with strong analytical skills and industry network.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)
