The Senior Development Officer is responsible for providing advocacy, guidance and oversight for redevelopment efforts related to the Alexandria Redevelopment and Housing Authority (ARHA) development sites, for the planning and execution of ground up mixed-income residential properties; some that are Transit Oriented Development with a mixed-use component. In addition, the Senior Development Officer is responsible for not only making sure projects are executed on time and on budget, but also for ensuring that ARHA’s design intent and quality standards are met. The successful candidate acts as an expert ombudsperson and advocate to ensure effective communication between the ARHA Project Management and Portfolio Management staff, the contracted design/construction teams and private developer partners. Leadership must be exercised for multiple, concurrent projects with a high degree of visibility at the city and community level. The successful candidate must possess a personality suitable to the collaborative nature of an entrepreneurial culture and must be self-starting, and accustomed to managing multiple projects simultaneously and working with limited direction.
The successful candidate must have a Bachelor’s Degree in Urban Planning, Architecture, Engineering, Economics, Public Finance plus professional studies in real estate development or closely related field from an accredited college or university with five (5) years of progressively responsible real estate development experience or equivalent work experience in addition to the following requirements and qualifications:
• Experience must include demonstrable knowledge of real estate valuation techniques, project finance, development project cash flow modeling, public approvals and permitting/entitlement processes.
• Experience with public private partnerships and/or joint ventures. Assisting in the negotiation and execution of closing documents strongly preferred.
• Strong analytical and interpersonal skills.
• Strong leadership abilities.
• Detail-oriented, flexible, and decisive.
• Sound business judgment and the ability to carry out appropriate actions independently if appropriate.
• Ability to organize and coordinate work efficiently, set priorities and motivate others.
• Ability to work with minimal direct supervision and to supervise people with various cultural backgrounds, levels of education, and experience.
• Ability to work under pressure and cope with deadlines.
• Ability to produce quality work in a consistent manner and to produce the quantity of work necessary to timely complete assigned tasks.
• Ability to work with individuals as well as a commitment to organizational goals.
• Strong communication, organization, and multi-task management skills.
• Self-starter who is detail-oriented, hard working, able to read regulations or guidelines and organize the work of the team. Takes initiative and always has the “big picture” in mind.
• Creative and a problem solver who is intellectually curious and passionate about real estate, especially mixed-income housing.
• Ability to manage projects on time and within budget, monitoring the major financial considerations involved with large-sale development activity with insight into how to quantify and evaluate the impact of changes as well as monitor quality and adherence to guidelines and standards.
• Ability to analyze project feasibility, financing, and environmental considerations that drive decision on whether and where to develop.
• Ability to seek out and obtain the financing needed to begin a project, including private equity to leverage acquisitions. Requires a sophisticated understating of financing structures, liquidity, securitization, and financing.
• Demonstrated knowledge of multifamily residential development, commercial leases, financial modeling, due diligence analysis, cycles and exit strategies, market feasibility analysis, for real estate development of all property types, as well as effective marketing strategies and tactics.
• Understanding of accounting theory as it relates to real estate practice, real estate internal cost accounting, accounting for construction and mortgage industries.
• Ability to interpret regulations, standards, grants and contracts to determine compliance with relevant requirements and ARHA standards. Furthermore, candidate must have thorough knowledge of Federal programs, rules and regulations governing the financial, legal and procurement environment of community revitalization and redevelopment projects.
The Senior Development Officer will begin projects at the acquisition stage and move forward to manage the entitlement, permit and construction processes (including preparing presentations and attending public hearings/meetings). A representation of the primary duties and responsibilities are as follows:
• Determine the viability of an acquisition opportunity;
• Develop scope of work for procurement of teams, team members or other development related acquisitions or services in cooperation with procurement staff;
• Manage the design and construction consultants (including architects, engineers, land planners, landscape architects, land use and real estate attorney, traffic/noise consultants, code consultants, etc.) at least through the Design Development phase and coordinate with the construction team from that point throughout the project;
• Prepare and manage budgets, draws, cash-flows, schedules, pro-formas, investor reporting, etc (with assistance from Project Manager(s) and accounting personnel);
• Manage the sales, marketing, and leasing teams;
• Work with Portfolio Manager and Asset Management staff to commission completed projects;
• Work with Portfolio Manager to advise on the ARHA real estate portfolio, including coordination with the Facilities and Modernization Division regarding capital improvement fund recommendations;
• Any other duties as required or requested by COO.