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This role requires a sophisticated development professional with excellent judgement, relevant NYC experience, and the capacity to work with all personality types in the origination and execution of projects. This candidate will be a credible subject matter expert with client prospects, JV partners, and senior executives within the firm. Collaboration and interpersonal skills are key to achieving business results across new investment/development efforts and supporting an iconic operating portfolio. An entrepreneurial, self-starter that can overcome obstacles and navigate initiatives from start to finish will be most successful.
The VP, Development will manage all aspects of complex commercial real estate development projects and supervise assigned projects, initiatives, and activities in the New York Region Development department under the direction of the SVP, Development.
Essential Functions:
Business Development
- Develop new business opportunities and manage new developments and potential acquisitions (including the due diligence process) in conjunction with the SVP, Development and EVP, Regional Manager.
- Responsible for supporting business development efforts within the region including interfacing with the real estate community to develop and evolve critical relationships and increase market presence.
Project Management
- Direct the development process from project inception through completion, and subsequent turnover to Property Management.
- Oversee the assemblage of development project teams (design, construction, entitlement, etc.).
- Oversee the interface of the development department with other senior staff and departments.
- Oversee the work of the BXP internal teams (Leasing, Legal, Construction, Finance, Accounting, and Property Management) both within BXP and with outside consultants.
- Participate in the design process and construction meetings for all development projects to insure adherence to company design and quality standards.
Budgetary
- Overall responsibility for project budget and the negotiation and execution of all project legal documents and contracts while insuring adherence to standards and deal parameters.
- Review and provide oversight on the development of project budgets, schedules, and the development process with staff and departments involved.
- Construct, analyze, and maintain budgets and financial models for proposed acquisitions and development projects.
- Provide timely and accurate project financial information to the Capital Markets group for capital budgeting and earnings projections.
- Review and approve all project invoices, including design services and construction requisitions.
General
- Provide guidance in the preparation of marketing materials, including floor plans, building specifications, operating expenses summaries, and renderings.
- Oversee and participate in the leasing of projects, including participation in tenant showings, proposal preparation, consummation of a business agreement, the negotiation of tenant leases, and the development of tenant work letters.
- Assist Property Management with development issues/projects at existing assets as needed.
Talent Management
- Responsible for inclusive leadership, driving work forward, and guiding the success of the project teams.
- Help to supervise, coach, and mentor the other development department members.
Regional Specific Functions:
- Participate in industry organizations and events as a representative of BXP.
- Perform other duties as assigned.
- Prepare periodic case studies to inform/discuss various “lessons learned” with internal departments.
Requirements and Qualifications:
- BA/BS degree required (concentration in engineering or architecture preferred).
- Master’s degree in business administration or advanced degree required.
- A minimum of 12 – 15 years of progressively responsible real estate development or project management experience required. Prior direct supervisory experience required.
- Successful leader with proven track record of positive influence and stakeholder satisfaction.
- Experience must include demonstrable knowledge of real estate valuation techniques, project finance, development project cash flow modeling, public approvals, and permitting/entitlement process.
- Experience with joint ventures including the execution of documents required.
- Sound business judgment and ability to represent the company and carry out appropriate actions autonomously.
- Ability to organize and coordinate work efficiently, set priorities, and motivate others.
- Ability to work with or supervise people with various cultural backgrounds, levels of education, and experience.
- Poise and ability to act calmly and competently in high-pressure, high-stress situations, and cope with deadlines.
- Ability to produce quality work in a consistent manner and to produce the quantity of work necessary to timely complete assigned tasks.
- Ability to work with team members as well as a commitment to organizational goals.
- Strong communication, organization, and multi-task management skills.
- Proficiency in Microsoft Office applications.
- Strong analytical and interpersonal skills.
- Detail-oriented, flexible, and influential.
Physical Requirements:
- Involves work of a general office nature usually performed sitting such as operation of a computer.
- Involves work of a general office nature usually performed standing such as operation of a fax and printer.
- Involves work such as tours throughout property portfolio, including to construction sites, usually performed by walking and by climbing stairs, and riding construction hoists, often at extreme heights.
- Involves movement between departments to facilitate work.
- Involves lifting plans or boxes of 25 pounds or more occasionally.
Internal and External Contacts:
- Extensive interaction with all levels of employees within BXP and with external audiences. External contacts include but are not limited to public officials, tenants, consultants, brokers, vendors, and contractors.
Reporting Structure:
- Reports to the SVP, Development who provides supervision and guidance, and who coordinates, evaluates, and monitors work performance on periodic basis.
Source: Boston Properties’ Career Page
