Director of Development (Commercial Real Estate Ground-up Development)

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 3^rd 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 3^rd 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.