Strategic Property Partners (“SPP”) is a joint venture between Cascade Investment LLC, and Jeff Vinik. The firm was formed to create a visionary new commercial real estate development platform focused on world-class execution, innovation, and creating high quality and experiential places. SPP’s first project, Water Street Tampa, is being developed on over 50 acres of land the company owns or controls in downtown Tampa along the waterfront. The phased Water Street Tampa development project intends to revitalize the currently underutilized tract of land and create an urban, mixed-use waterfront district consisting of approximately 9 million square feet of new commercial, residential, hospitality, cultural, entertainment, education, and retail uses, totaling over $3 billion in private investment from SPP. Integrating principles of walkability, sustainability, connectivity, design quality, and wellness, SPP intends to create, own and operate a new world-class neighborhood in in Tampa, while also elevating the City’s national prominence. SPP is a long-term investor and has incredibly strong financial resources, making Water Street Tampa one of the most secure and well-capitalized real estate development projects in the country.
The VP, Hospitality Development leads an internal team and external consultants from project inception through design and acts as an Owner’s Representative through the completion of the development process for all hospitality projects within Water Street Tampa, a complex urban development. This includes all phases of development including zoning, entitlements, design, permitting, construction, stabilization and, if applicable, disposition. The VP will immediately assume responsibility over two ground-up hospitality developments, including a 520-key, four-star hotel and a 175-key, five-star hotel, and one renovation project of an existing 719-key hotel. The VP will also oversee future hospitality developments within Water Street Tampa and in future SPP hospitality projects. The selected candidate joins forces with a best-in-class, energetic team of real estate development leaders in Tampa, Florida.
- Leads a team overseeing three hospitality development and renovation projects; leading consultants, partner agencies, community organizations, political officials and sponsors.
- Leads, manages and mentors an internal team of developers and project managers.
- Oversees and leads the design process, including the management of design criteria and program for the building and site along with the project architect, general contractor and building end-users.
- Reviews architectural drawings, specifications and construction cost items.
- Oversees, prepares and maintains current performance metrics that include: predevelopment budget, development budget, construction cost, cash flow and project timeline.
- Reviews and leads term negotiations and conditions for various development-related agreements with project attorneys, including but not limited to architect and general contractor contracts, other contractor/consultant contracts, etc.
- Collaboratively works with consultants and internal constituents such as Property/Asset Management and Finance teams at appropriate milestones and appropriately influences the development process.
- Review consultant/contractor invoices for accuracy against approved budgets and contracts.
- Review funding requests and capital calls.
- Works with construction administration to manage activities, including: monitoring construction progress and quality, coordinating sponsor contributions, administering the development budget and coordinating contractor payments.
- Researches best development practices and makes recommendations to senior leadership team on incorporation of the same.
- Prepares and presents to internal and external audiences.
- Develops strong working relationships cross functionally within SPP.
- Understands key SPP metrics.
QUALIFICATIONS AND COMPETENCIES
- An undergraduate degree in business, finance, economics, or real estate is required; MBA or Masters in Real Estate preferred.
- Ten to fifteen years of hospitality development experience, including full development cycle and completion of a minimum of one hospitality ground up construction project.
- Proficiency in Microsoft Office Suite (including advanced Excel knowledge).
- Analytical mindset: Synthesizes complex or diverse information; collects and researches data; uses intuition and experience to complement data; designs work flows and procedures.
- Project Management: Develops project plans; coordinates projects; communicates changes and progress; completes projects on time and budget; manages project team activities; organizes or schedules interns and their tasks; develops realistic action plans.
- Technical Skills: Reading architectural and engineering drawings, site planning, architectural design, government entitlements such as zoning, construction techniques, real estate law, negotiations.
- Leadership: participates in relevant annual budgeting and strategic planning; sets clear expectations for direct reports and internal/external partners, including role and responsibilities, deadlines, communication regarding progress, and provides feedback; works effectively with internal support services (finance, human resources, IT, and development).
- Outstanding Oral and Written Communication Skills.
- Team Leadership: Leads, mentors and manages an internal development team. Able to be a mentor and manager.
- Teamwork: Balances team and individual responsibilities; exhibits objectivity and openness to others' views; gives and welcomes feedback; able to build morale and supports everyone's efforts to succeed.
- Adaptability: Manages competing demands; changes approach or method to best fit the situation; able to deal with frequent change, delays, or unexpected events; effectively communicates changes to relevant stakeholders.
- Initiative: Undertakes self-development activities; seeks increased responsibilities; takes independent actions and calculated risks; asks for and offers help when needed.