The Director of Development is responsible for managing the development and execution of office & residential development strategy for The District Detroit. This position manages the underwriting, entitlements, incentives, capital structure, design and development of new office facilities and renovations of existing facilities consistent with the company’s overall development and investment objectives.
- Collaborate with leadership to develop and implement the overall development strategy for the District Detroit and other future opportunities.
- Provide leadership to all disciplines of development with emphasis on office product including parking, highest and best use, development strategy, due diligence, entitlements, capital structure, design and construction.
- Provide leadership in marketing office square footage managing third party office broker relationships and office tenant strategy.
- Oversee and manage the development of office & residential concepts, plans and budgets to ensure all projects are completed on schedule and within budget. This includes overseeing the development and construction process from project approval to completion, leasing and turnover to Operations.
- Manage the acquisition and development of new office & residential sites as well as upgrades and rehabilitation of existing sites.
- Utilize expertise and understanding of the development process to lead internal and external consultants throughout the pre-development, entitlement, financing, due diligence, and construction phases.
- Manage ongoing public financing opportunities, obligations and covenants and ensure alignment with the overall development strategy.
- Liaise with public and private community stakeholders; government officials and company leadership.
- Participate in the preparation and presentation to committee members to ensure understanding of the project, the potential value creation, potential risks, budget and design.
- Provide leadership for office real estate class with attention to parking and mixed-use opportunities.
- Provide leadership in use of capital and deal structuring including debt equity, joint venture and other strategic capital success.
Minimum Knowledge, Skills and Abilities:
- Bachelor’s Degree in Real Estate Development, Business Administration, Economics, Finance or related field.
- 10 years minimum of office sector related experience in managing real estate development and real estate properties.
- In depth knowledge of the local Downtown Detroit real estate market, including what is the highest and best utilization for the area.
- Proven track record of developing projects through completion.
- Thorough overall understanding of real estate strategies, planning, development, transactions and project management.
- Solid understanding of real estate finance.
- Demonstrated understanding of the acquisition and due diligence process, including entitlements, zoning, environmental issues and incentives.
- Highly persuasive and credible to earn trust of peers, public and private stakeholders and company ownership/leadership.
- Strong leadership, planning, management and organizational experience.
- Ability to manage multiple assignments simultaneously with minimal supervision.
- Strategic thinker with the ability to develop and implement processes and plans.
- Excellent verbal and written communication skills, including excellent presentation skills.
Preferred Knowledge, Skills and Abilities:
- Master’s Degree in Business Administration, Real Estate Development or related field.
- This position will work in an office environment and will visit outdoor locations and travel occasionally.
The physical demands and work environment characteristics described here are representative of those a colleague encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
The above is intended to describe the essential job functions, the general supplemental functions and the essential requirements for the performance of this job. It is not to be construed as an exhaustive statement of all supplemental duties, responsibilities or nonessential requirements. Olympia Development has the right to change, modify, suspend, interrupt or cancel in whole or in part any job functions outlined in a job description at any time and without advance notice to the employee.
10+ to 15 years
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