Director - Development
US-GA-Atlanta
Hines
Req #: 13937
Type: Full-Time
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Overview: When you join Hines, you will embark on a career journey fueled by vision and guided by leaders who set the standards of our industry. Our legacy is rooted in innovation and excellence, earning us a spot on Fast Company's esteemed annual list of the World's Most Innovative Companies, as well as recognition as one of U.S. News & World Report's Best Companies to Work For in 2024. Discover endless opportunities to grow and make your mark at Hines. Responsibilities: As a Director - Development with Hines, you will be responsible for managing multiple real estate development and/or redevelopment projects. The Director of Development is responsible and accountable for project financial results and investment returns for Hines and its co-investors. Responsibilities include, but are not limited to: * Manage all aspects of one or more real estate development and/or redevelopment projects * Assume primary day-to-day management responsibilities for Hines Aubrey Lake development project in Bartow County, GA * Develop strong working relationships with investor partners, Bartow County leadership, landowners, developers, civic and community groups and government agencies conducive to originating, supporting, or processing new opportunities * Lead broker team in the marketing of land sites and the legal team in negotiation and preparation of land sales term sheets and purchase agreements. Manage relationships with third-party land purchasers throughout their due diligence, permitting, and closing periods including negotiating purchase agreement amendments as may be required. * Coordinate the preparation of all investor communication materials in accordance with operating agreement requirements. Lead monthly investor calls and meetings. * Coordinate with construction and design team throughout design and construction phases to ensure that project vision is executed, all development and operating agreement obligations are met, and construction costs are minimized * Lead bond financing team in executing issuance of future bond series and manage all reporting responsibilities associated with existing bond financing. Procure conventional construction financing as may be required * Function as the lead community association board member throughout the development period * Facilitate coordination between construction and Property Management to keep the project on track, ensure best-in-class property maintenance, and address any community management issues that arise including resident and commercial owner concerns * Update and track all proforma/budget changes throughout the project and maintain monthly updates to senior management from commencement of investment through project completion * Research potential land sites for vertical development and coordinate with acquisition team on potential acquisition targets * During pre-acquisition coordinate all underwriting aspects and build project proforma: market research, municipal fees, site constraints, development budget, development schedule, construction budget, construction schedule, operating budget, and financial assumptions * Gain entitlements for development projects through governmental agencies, formulate strategies, and direct internal and external development teams as needed * Perform all predevelopment activities including feasibility, design, layout and entitlement, permitting and due diligence. With senior management and consultant team determine and program the scope, quality, and design of projects * Complete inspections and review legal documents related to property acquisitions including purchase agreements, title and survey, government agreements and closing exhibits * Execute and fine tune business plan (process entitlements and position for joint venture or sale; process entitlement and perform vertical construction). Develop and refine plans, designs, cost estimates, permitting and project timelines during the pre-construction period * Coordinate with Property Management and Asset Management on operating budget assumptions, including rents and concessions, and lease-up schedule throughout the lease-up process to verify accuracy of the underwriting assumptions * Responsible for maintaining and acquiring all documents for final project close-out, including keeping track of all outstanding letters of credit or bonds that needed to be posted Managing Others: * Hire, manage and direct the career development of his/her team * Ensure his/her team has the appropriate technical skills, tools, and facilities to competently perform their roles * Manage employee performance through the Company's performance review process * Demonstrate effective management, leadership, coaching and development of staff to achieve Company and project team goals and objectives * Ensure goals and objectives are established for all staff within designated timeframes * Ensure job responsibilities and expectations are clearly defined and communicated, work is assigned and distributed appropriately, staff is appropriately trained, and performance issues are addressed in a timely manner * Conduct regular staff meetings * Regularly provide formal and informal feedback to team members including discussions of strengths and areas for improvement * Complete well thought out and well documented performance reviews and annual salary recommendations within designated timeframes Qualifications: Minimum Requirements: * MBA in business, finance, or real estate and bachelor's degree in engineering, business administration, real estate, or economics from accredited institutions required. * Seven or more years of related experience * Exhibit excellent interpersonal verbal and written communication skills * Demonstrate advanced development of critical thinking and problem-solving skill set * Possess a sense of urgency in completing tasks and advancing all aspects of an investment thesis * Utilize MS Excel as a daily tool to model complex real estate investments and manage on-going investment decisions including ability to build complex Excel models from scratch * Possess extensive experience in negotiating commercial real estate land sales term sheets and purchase agreements
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