Vice President of Real Estate Development

Job Description

Vice President Development
 
The Howard Hughes name is synonymous with entrepreneurial vision, tenacity and a pioneering spirit, values that today are embodied by The Howard Hughes Corporation.  While Hughes’ passion for aviation and the silver screen are legendary, it was his visionary investment in real estate that forms the bedrock of the company today.  At the core of our DNA we believe we can Make Life Extraordinary.  For our people, for our stakeholders, for our shareholders and for the people that live, breathe, consume and experience our brand.
 
We believe in “Thinking Big” at The Howard Hughes Corporation.   We are driven by entrepreneurialism, a passion for excellence, and an unrelenting dedication to success.  Our mission is to be the pre-eminent developer and operator of master planned communities and mixed-use properties.  We create timeless places and memorable experiences that inspire people while driving sustainable, long-term growth and value for our shareholders. We create environments where people want to live, work, shop, dine and play from coast to coast to coast.
 
POSITION SUMMARY: 
Reporting to the SVP of Development, the VP of Development will be responsible for coordinating key aspects of the development process having a primary focus within designated cities or a region.  The VP, Development has the ultimate responsibility for guiding and driving all applicable projects from conception through completion, ensuring that each development represents the company’s interests and meets or exceeds the financial goals of the project.  As a vital team member and partner to the SVP, Development, the VP of Development will provide critical and high level development coordination and management for various projects.  More specifically, the Development Vice President will provide assistance with; or will be directly responsible for any of the following job responsibilities.
 
ESSENTIAL JOB RESPONSIBILITIES: 
 
FINANCIAL:
• Evaluate and establish project objectives in order to maximize the use of the property and the return on investment.
• Coordinate and arrange broad scope due-diligence and feasibility studies, as required, utilizing appropriate consultants where necessary to determine market characteristics and critical attributes of the physical site, as they relate to revenue and cost projections.
• Identify, pursue and obtain all applicable sources of subsidy and any other financial vehicles that will facilitate the completion of the project within the established ROI objectives.
• Working with in-house staff, develop, evaluate and refine the project pro forma.
• Facilitate, support and monitor the Leasing effort to ensure that project development and financial objectives are satisfied.
• Evaluate on an ongoing basis the timing of each prospective development and determine which projects should receive maximum attention, based upon the potential profitability of each project at any point in time.
 
FEASIBILITY, PLANNING AND DESIGN:
• Review and analyze projects throughout the country with similar characteristics in order to determine and improve upon the key components of a successful development.
• Evaluate design alternatives, reviewing options with appropriate Leasing and Development staff.
• Evaluate and identify the appropriate consultants for each project through networking and solicitations for proposals.  Supervise and guide design consultants and engineers from conceptual drawings through construction documents, including consulting contract negotiations.
• Manage the process of determining required entitlements and obtaining all related approvals.
• Develop relationships with key political figures, including City Council, Design Review Board, Planning Commission, etc.  Serve on committees or regularly attend all committee meetings for groups having jurisdiction or influence on applicable projects.
• Make presentations to Design Review Boards, Planning Commissions, City Councils and community groups.
• Facilitate evaluation of the project design by in-house Management, Operations and Security staff in order to ensure that the interests of each group are satisfied, progressing through the development process as key milestones (entitlements, pre-leasing, financing, etc.) are achieved and approval is obtained to proceed.
• Establish, monitor and drive the project schedule in order to meet specified goals.
 
TECHNICAL
• Interface with in-house Construction personnel from concept studies through bid documents, performing ongoing cost analyses in order to accurately determine the project cost and identify the most cost efficient construction means, materials and methods and the related schedule.
• Supervise and approve all design decisions to maximize the physical and aesthetic quality and overall effectiveness of the project, while minimizing cost.
• Facilitate and monitor tenant design and construction effort to ensure that the project development and design objectives are satisfied.
• Maintain and enhance professional skills, abilities and relationships in the multi-family, office, hotel and shopping center industries.
SUPERVISORY
• Manage multiple consultants and internal cross-functional teams.
 
KNOWLEDGE, EXPERIENCE AND SKILLS:
• Must understand principles of real estate development, design, finance and construction. 
• 10-15 years of experience in development of significant real estate projects greater than 200,000 sq. ft. in size and/or $50M in total costs, with preference for experience in mixed-use, multi-family and retail projects.
• Effective presentation skills.
• Ability to interact with government officials, consultants and citizens groups.
• Good problem solver/creative thinker.
• Strong organizational and leadership skills.
 
EDUCATION, CERTIFICATIONS AND LICENSES:
• Bachelor’s Degree with an emphasis on finance, engineering, design, planning, or law.  Graduate degree preferred.
• Real Estate, law, planning, architecture or engineering certifications or licenses are helpful, but not required.
 
OTHER:
 
Thought Leadership
Develop Organization Strategy & Alignment
• Identify the impact of external situations (i.e. moves from the competition, industry trends, etc.) before the impact occurs and make recommendations on how to respond.
Use Seasoned Judgment
• *Critically evaluate the costs, risks, and benefits of alternatives to resolve problems and make decisions.
• Make timely, fact-based decisions that balance analysis with decisiveness.
• Take into account all relevant issues and stakeholders when making decisions.
 
Drive Execution & Continuous Improvement
• *Prepare project budgets and schedules and deliver projects in accordance with plan.
• Remove obstacles and redirect efforts in order to move work forward.
Embrace Internal & External Customer Partnerships
• *Ensure a level of trust, respect, and strong relationship-focus with government officials, citizen groups and internal team members.
 
PEOPLE LEADERSHIP
Develop Organizational Talent
• Provide insightful, motivating and constructive feedback to team members.
Build Organizational Relationships
• Facilitate positive resolution of difficult or heated circumstances to enhance relationships and promote teamwork.
Create an Environment of Open Communication
• Be sensitive to the nuances of both what you say and how it is said (e.g., tone, feelings, context, and nonverbal cues.)
Inspire Passion
• *Instill and sustain organization-wide energy and optimism; inspire a “can do” attitude.
 
RESULTS LEADERSHIP
Lead Boldly – Entrepreneurial Leadership
• Convey a strong sense of urgency through driving issues to closure in positive, inspiring ways; create a “pull”, rather than a “push.”
Champion Cross-Functional Capability
• *Actively build collaborative partnerships with others across functions, cultures, and organization boundaries.
Deliver financial results
• Take personal responsibility for agreed upon results.
 
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