Vice President, Development

The Vice President, Development will be the leader in sourcing and execution of real estate development opportunities. The Vice President, Development will be responsible for meeting fund deployment expectations in terms of markets, throughput, product types, approvals, delivery, financing and overall accountability of the projects while supporting the organization’s mission, vision and values.

Training/Education

College degree in Real Estate, Finance, Business, or law.

MBA, MAI, JD, AIA professional designation, or other graduate or professional degree preferred

Experience/Skills

Minimum of seven to ten years of experience in residential or commercial real estate with demonstrated experience and working knowledge of underwriting, site selection, performing feasibility analysis, market evaluation, Entitlements and Zoning, underwriting/financing of deals and business/project planning

Preferred experience in single-family home development, including land acquisition, entitlement processing, site planning, and coordination with design and construction teams through project completion

Strong technical knowledge of underwriting/financing of deals, institutional investor needs, design, construction and

High degree of experience in budget planning, expense monitoring and profit and loss responsibility

Excellent computer skills, with emphasis on Microsoft Office; other construction or real estate software a plus

Special Requirements

Big picture and strategic thinking skills

Exceptional financial acumen, ability to problem solve project challenges by understanding levers available

High degree of professionalism

Transparency, reporting and sharing of information effectively across all departments

Proven record of successful negotiation skills

Exceptional leadership, management, communication and collaboration skills

Strong analytical skills

Results oriented and solution focused

High degree of accountability and ownership

Excellent judgment and decision making skills

Ability to multitask, prioritize and meet changing deadlines

Excellent internal and external customer service skills

Ability to thrive in a fast-paced environment

• Overall, Champion/accountable party for sourcing and execution of development projects that meet company and investment fund/strategies
• Identifies and researches potential new markets for housing opportunities
• Evaluates competition, new markets, and other factors to create and execute pursuit strategies
• Identifies potential development sites and vet projects to establish Buckingham pipeline in line with fund and balance sheet strategy
• Presents new development opportunities including exhibits of development merits, demographic analysis, market analysis and competitive product evaluation that meet Buckingham and fund criteria suitable for approval by Investment or Executive Committee
• Leads deal negotiations and secure closure for any sites identified and approved
• Manages and completes comprehensive due diligence reviews, market analysis, financial models, and site design
• Partners with Fund manager, CIO, CFO and Capital Market personnel for underwriting and financing of deals
• Leads effort for incentives negotiations including but not limited to TIF, Tax abatements, Port authority funding, grants…
• Builds effective relationships and partnerships with brokers, landowners and other strategic partnerships and alliances in real estate
• Works with, understands and creates accurate, realistic financial Proformas for all development and land acquisition opportunities being analyzed
• Partners with internal and external resources to oversee the design process
• Partner with Legal to prepare and review purchase agreements, contracts, and other legal documents related to the development process
• Interacts with outside consultants and in-house construction and development operations departments to perform effective due diligence on all areas related to land acquisition, site and property development both offsite and onsite, including local utilities, development impact fees, building permit costs, traffic impact issues, etc.
• Effectively collaborates with in-house staff to evaluate achievable rental levels, expense comparable and expense estimates for all development and land acquisition opportunities being considered
• Responsible for understanding costs associated with development including physical construction costs, site development costs, pre-development costs and estimates
• Prepares reports, correspondence and other administrative paperwork on a timely, professional and accurate basis
• Ensures company policies, procedures and guidelines are complied with in a professional manner and are demonstrated in all oral and written communications
• Willingness to travel on an “as needed” basis as dictated by performance goals, job description or as directed by supervisor
• Other duties as assigned by supervisor

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