What are the responsibilities and job description for the Vice President, Development position at Extell Financial Services Inc?
The Company:
Founded and headed by Gary Barnett, Extell Development Company is a nationally acclaimed real estate developer of residential, office, retail and hospitality properties, operating primarily in New York City and other premier cities across the nation, including Deer Valley, Utah. Experiencing outstanding growth since its founding in 1989, the company’s growing portfolio exceeds twenty-five million square feet.
Summary of Responsibilities:
The Vice-President oversees all aspects of the development process. Working in close collaboration with senior management, the Vice-President’s role is to ensure that project milestones, budgets and quality standards are met. The Vice-President oversees the review and coordination of design documents, reviews and evaluates proformas, financial analysis; project cost projections as well as monthly reports for investors and management; reviews and ensures continued compliance of major project agreements. The Vice President interacts directly with senior management in anticipating and solving problems in an ongoing effort to minimize crisis management on all development matters.
Essential Functions:
- Responsible for overseeing development on Extell projects
- Work closely with the Executive Vice President and senior management to ensure that project(s) are completed within established budget, scheduled milestones and quality standards
- Commence projects by coordinating the project team, defining project scope and detailing project plan/budgets
- Deliver project plans, including budget and schedule estimates, and obtain necessary approvals from senior management
- Negotiate with and direct the work of architects, engineering consultants and construction contractors, other design and construction vendors, as well as the sales team
- Interface with other project stakeholders, such as the applicable hotel brand
- Take responsibility for all aspects of the project and take a hands-on approach to anticipating and solving problems or recurring issues in an ongoing effort to minimize crisis management
- Oversee contract administration for all development initiatives
- Acting as owner’s representative, maintain communication and interface with all relevant parties including public agencies, community groups, and senior management
- Prepare government agencies program applications
- Establish and refine processes and schedule all aspects of overall project operations and procedures
- Assist in defining project objectives and priorities
- Develop, standardize, and refine project contract documents, bid forms, closeout standards, and all other pertinent documentation
- Coordinate monthly budget and variance analysis updates and review financial performance with Senior Management
- Monitor all releases of funds to consultants, contractors and vendors
- Provide continuous assessment of vendor and consultant performance and value
- Obtain and/or verify proper entitlements and building construction permits
- Establish and maintain reporting standards for project staff
- Monitor contractor performance to ensure high quality work and materials as well as adherence to contract documents
- Track all project costs, approve consultant and contractor requests for payment and mitigate liabilities such as construction liens and insurance claims
- Perform all necessary project "closing-out" duties
- Participate in the process of sourcing new development/acquisition opportunities
- Provide strong leadership and management for the development teams
- Coordinate and manage efficient project progress among the various Extell departments—Design, Construction, Marketing, Accounting, etc.
- Perform any additional duties assigned by manager
Competencies:
- Manage multiple priorities simultaneously without losing sight of project goals
- Strategic, creative thinker, using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems
- Excellent and effective oral and written communication skills with the ability to infuse the internal management process with new ideas as well as to support external marketing efforts.
- Strong, effective interpersonal and analytical skills
- Work independently, present recommendations and interact with the Senior Management and Partners in the decision making process
- Ability to work in entrepreneurial environment
- Ability to respond rapidly to changes in the market
- Strong organizational skills, attention to detail, independent work ethic, and administrative skills
Education/Experience Preferences:
- Advanced degree in Real Estate Finance or Business Management preferred.
- Bachelor’s degree from an accredited university or college required
- Minimum of 10 years of relevant experience in real estate development, business management or related activities in the development industry
- Expertise managing similar projects in size and scope as well as significant transaction experience.
- Significant experience in execution of residential and commercial development projects in the New York City market.
- Successful record of accomplishment of managing multi-disciplinary project teams in the areas of architecture/design; construction/engineering; zoning/real estate law; sales/marketing; management/operations and finance/accounting and budget management.
- Experience with successfully training and managing a team of development professionals.
- Experience developing/redeveloping projects with joint venture partners.
- Experience with project financing.
- Strong ability to review and understand architectural drawings.
- Experienced in MS Office (Excel, Work Outlook)
Work Environment:
- Office environment with the usual office equipment and minimal noise level
- Project site with dust, construction equipment and moderate noise level
- Travel to New York City office, as necessary
- Equal Opportunity Employer