Senior Director of Development

About the Company

Our client, a premier real estate investor, developer, and manager of creative office, life sciences/lab, and mixed-use assets, headquartered in Washington, DC, is focused exclusively on knowledge markets anchored by leading universities, health systems, research institutions, and governments that are eager to collaborate and commercialize new ideas. This group successfully harnesses the economic benefits of anchor institutions engaged with their communities by building inspiring spaces and active places for the knowledge economy. Having developed a very successful, long-term, joint venture partnership with a global investment firm controlling over $1.3 trillion in assets under management, this organization continues to grow with a dedicated effort in building a diverse and inclusive team fostering a culture of belonging and empowerment at work.

Position Summary

The Senior Director, Development will be responsible for the execution of development and redevelopment opportunities, primarily involving innovation/life science uses, from initial concept planning stages through stabilization and successful transition to operations. The position offers a collaborative environment and opportunities for frequent interaction with high level executives.

Duties & Responsibilites:

The Senior Director, Development will report to the Senior Vice President, Development and will require close interaction with senior management and other team members. Individuals are expected to be self-starters, have strong financial acumen, possess excellent communications skills, and to thrive in an entrepreneurial environment while bringing an institutional level work ethic and work product. Primary responsibilities are described below:

• Manage broad aspects of ground up development and development components of a project.
• Recommend, communicate, and execute on strategy for achieving the highest and best use of development projects.
• Prepare presentation decks, present and make recommendations to Investment Committee on development projects and provide periodic updates as necessary to achieve IC approval.
• Work collaboratively with Ancora’s Construction team or third-party Construction Manager to select General Contractor (GC), manage schedule and budget of development projects.
• Collaborate with Ancora’s Connections & Insights team as well as leasing brokers to ensure that development plan aligns with leasing strategy and objectives of partner anchor institutions.
• Provide development support to Investments team during underwriting of potential deals that align with company's investment objectives, including analysis and review of offering materials and providing development budgets when applicable.
• Review Purchase & Sale Agreements and Development Management Agreements for projects with inside counsel (or outside counsel) and provide input into development matters.
• Provide development-related assistance and input into due diligence matters.
• Select, manage, and oversee Architect and Consultant teams for predevelopment, development, and construction projects.
• Negotiate professional service agreements with Consultants and AIA contracts with architects and GC.
• Coordinate design professionals in the development of necessary materials for every stage of the process, from initial conceptual layouts to construction drawings and specifications.
• Support company's Connections and Insights Team in responding to development RFP’s that are identified by senior management.
• Coordinate with internal and external resources to identify and source subsidy opportunities.
• Ensure smooth integration and on-time, on-budget delivery of projects.
• Create and maintain, with the Financial and Transaction Teams, comprehensive project budgets, cash flow projections, and project schedules and track ongoing project financial performance.
• Compile, review, and interpret applicable market data that is relevant to and supports our development program.
• Prepare updates on development activities for internal (and external) reporting purposes.
• Guide, mentor, and manage junior staff (e.g. Development Associate) that may be assigned to development projects lead by this position.
• Identify and execute on achieving identified DEIB goals and an externship/mentored study program for underrepresented populations with universities, schools, or organizations in markets associated with development projects.
• Other duties as assigned by Senior Vice President of Development.

Qualifications:

• Bachelor’s degree. Masters preferred.
• 10-15 years minimum of relevant real estate development experience.
• Ability to collaborate effectively with internal team members and external stakeholders with a track record of building strong relationships.
• Deep knowledge of project budgeting and ability to navigate Excel models and perform financial analysis.
• Detail oriented, well-organized, high-energy, positive attitude.
• Experience with issuing design and 3rd party consultant RFP’s.
• Excellent analytical and creative problem solver.
• Strong collaborative team player.
• Established ability to develop and maintain positive relationships with colleagues, managers, lenders, partners, and third parties.
• Experience with responding to development RFP’s.
• Possess excellent oral, written and organizational skills.
• Must be highly motivated, efficient and an effective time manager with a demonstrated track record of an ability to consistently manage multiple projects with accuracy.
• Ability to work proactively, both independently and in teams, and exhibit accountability of projects and deadlines.
• High level of proficiency in Excel, Bluebeam, PowerPoint, and Word.