Senior Managing Director, Development

POSITION SPECIFICATION

SENIOR MANAGING DIRECTOR, DEVELOPMENT - MARKET LEADER

Shine Associates, LLC (‘Shine’) has been retained to search, identify, and recruit a Senior Managing Director of Development on behalf of our client(‘Company’). The position will be located in the Boston, MA office.

CONFIDENTIALITY

Shine Associates, LLC has been exclusively retained on this assignment. Information contained in this position specification as well as any other information concerning our client provided or verbally discussed is confidential. All materials and discussions are to be utilized for the sole purpose of a candidate’s personal review of the career opportunity.

SENIOR MANAGING DIRECTOR VISION

The primary vision for the Senior Managing Director is to partner with leadership to launch the Company’s Residential as a top-tier national and local development platform—achieving a ‘Top Five in Five’ objective. This market leader will demonstrate an entrepreneurial spirit, building and growing both the team and the business to achieve a minimum of one new construction start per year. The leader will embrace thoughtful, efficient institutional discipline and foster a culture of transparent, collaborative risk management.

SENIOR MANAGING DIRECTOR, DEVELOPMENT ROLE

The Senior Managing Director of Development leads the sourcing and execution of the Company’s development and new construction strategy, managing all facets of new projects to achieve financial and growth targets. This position reports to the President of Multifamily Development and will interface extensively with real estate owners, brokers, and senior executives. Applicants must have strong interpersonal skills, exceptional verbal and written communication, and 10–15 years of real estate development experience. This leader will also build and develop a local development team and support the formation of a local construction team to ensure evergreen, market-leading operations within the community.

KEY RESPONSIBILITIES

• Source new development opportunities, with the overall goal of one+ new construction start per year. Achieve this goal through building, developing and maintaining relationships with key stakeholders including brokers, consultants, land sellers, equity partners, lenders, etc. in the market to identify feasible, financeable, and profitable new initiatives.
• Negotiate or assist in the negotiation of complex legal instruments including contracts, easements, term sheets, loan documents, joint venture agreements, municipal agreements, joint development agreements, etc.
• Develop and perform financial analyses and entitlement risk underwriting, which forms the basis for site selection and the Company’s spending of pursuit capital and allocation of investment capital.
• Manage the pre-entitlement process by maintaining accurate pursuit cost forecasting and reporting and implement and execute programs and processes to ensure pro-forma development budgets, underwriting, schedules, quality, and standards are met and completed in accordance with adopted Company policies.
• Supervise development production team members and managers by interviewing, orienting, training and mentoring employees, and managing their performance in accordance with Company policies, values, and business practices.
• Fully engage and work with the Multifamily Business Lead and discipline team leaders in achieving the market’s financial and growth goals by participating in team meetings and calls, keeping team members informed about status of new development work, and actively working with the team on new business development, meetings with clients and investors, and other RFPs.
• Participate in routine Investment Committee meetings that focus on proposed development projects by making presentations on said projects, working with and assisting the Managing Director in project financing, and reviewing and providing progress updates on projects under pursuit, under construction and under lease-up.
• Discuss strategy and provide input to the strategic decisions and direction of the Company’s Development & Construction business, and act as a conduit to Managing Director for team members, client, and key stakeholder questions, concerns, and issues related to business, education, or human resources operations.
• Manage complex development projects under construction to ensure developments remain on time and on budget; interact with construction team members and third-party general contractors to achieve business plan goals on specific assets.
• Manage consultant third party consultants to identify, entitle, design, finance, permit, construct, lease, manage and dispose of new development projects.
• Accountable for coordinating work activities, ensuring open communication between consultants and Company project team members, lenders and equity investors as needed, by researching and communicating ongoing project status.

KNOWLEDGE, SKILLS AND ABILITIES

OTHER RESPONSIBILITIES :

EXPERIENCE

COMPENSATION

The Company is prepared to offer a competitive compensation package in accordance with the candidate’s experience and ability to be a market leader on behalf of the Company.

CONTACT INFORMATION

Shine Associates, LLC

45 School Street

Suite 301

Boston, MA 02108

Timothy M. Shine, Principal

(203) 676-1115

Tim@shineassociatesllc.com

Hillary Shine, Principal

(203) 613-3562

Hillary@shineassociatesllc.com