Our client is a dynamic Boston-based real estate investment and development firm. In business for over 25 years, the firm is vertically integrated with in-house property, asset, construction and development management capabilities.
Small enough to move rapidly on new opportunities, but robust in expertise and resources, the firm has a distinct competitive advantage that has led to the acquisition and development of more than 17 million square feet of commercial office, flex, parking and multi-family assets.
The organization is looking to add a Development Director to its team. The Director will report directly to the President and have responsibilities covering all development activities from conception through construction completion and stabilization. This position will cover a range of asset types with an immediate focus on a large-scale, mixed-use ground-up commercial (office/lab) and residential development, as well as other value-add and ground-up multifamily projects.
The Director will primarily assume a lead role on assigned projects with oversight from the President but also provide support to the broader team on a variety of efforts. The position will have the following responsibilities:
- Lead project team in creating the development concept and implementing this strategy in all phases of construction development through stabilization.
- Lead project management effort on new deals and collaborate with acquisitions to provide development budgets, scope of work, and complete due diligence investigations.
- Coordinate/collaborate with finance and acquisitions, project accounting, construction management, and asset management teams for setting pro-forma assumptions, establishing the project development budgets, and preparing cash flow projections.
- Establish project budgets and schedules and manage to completion. Manage the cost estimating process with the construction manager and manage the design process within the budget.
- Manage consultant contract solicitation and negotiations. Manage design change orders within the budget and participate in value engineering exercises.
- Manage consultant team through design and construction phases and lead on-site project meetings with the architect, engineer, construction manager, and tenant representatives.
- Manage all entitlement processes and conduct community outreach for large scale projects.
- Collaborate with finance team to secure project equity and construction financing.
- Handle all project related reporting requirements including business plans, project summaries, budgets, schedules, drawings, and cash flows.
- Manage all project contractual and financial obligations. Work with project accountant, oversee construction loan draw processes.
- Work with leasing/sales team, oversee marketing and leasing/sales efforts.
- Manage turnover to operations and provide oversight through stabilization.
- Bachelor’s degree in business, finance, urban planning or architecture.
- Master’s degree in real estate development or related field preferred.
- Minimum 10 years of experience in real estate development project management.
- Experience in permitting, design and, execution of large-scale commercial projects in City of Boston with specific focus on creative economy projects and life science labs.
- Track record of bringing several development projects from concept through to completion.
- Ability to evaluate and interpret design and construction documents, contracts, budgets and schedules.
- Experience managing and mentoring personnel preferred.
- Collaborative team-oriented professional.