Vice President, Real Estate Development

Return to Postings
Job Code: PD23-59
Posted On: Wednesday, 13th December 2023
Department: Executive
Location: Main Office
Kensington, Md
10400 Detrick Avenue
Job Type:
Full Time
Education: 4 Year Degree
Pay Rate: Grade: Exec. 02 | Salary determined by departmental budget- Offer commensurate with experience

Job Description:

 

This is an executive level professional management position responsible for supervising the performance of the Real Estate Development division, managing the organization’s real estate development portfolio, executing on HOC’s current and future pipeline of transactions, and participating in Executive Staff deliberations. This position reports to the Senior Vice President, Real Estate.

The person in this position requires an intensive knowledge of all aspects of housing development, of the principles and practices of multi-family real estate, and of capital raising and financial structuring. The incumbent has full and final responsibility for the work effort and will be evaluated in terms of the effectiveness of advice and influence on overall HOC programs and goals.

EXAMPLE OF ESSENTIAL DUTIES:

  • Oversee project managers in all phases of design and development; developing feasibility analyses; obtaining local approvals; developing and revising proformas; and managing the design, financing, and construction phases;
  • In conjunction with the Senior Vice President of Real Estate, identify new acquisition, renovation, and new construction projects to maintain and expand the development pipeline;
  • Negotiate the purchase of land;
  • Negotiate the purchase of existing apartment buildings;
  • Identify all necessary construction and permanent project funding sources;
  • Negotiate final and monitor the execution on financing terms with capital partners, including partnership agreements and loan documents;
  • Negotiate financial assistance from county, state and federal sources for HOC developments;
  • Facilitate partnerships among developers, community-based organizations, capital partners, and governmental partners;
  • Comply with all procurement requirements in selecting project design and development professionals;
  • Maintain adequate division resources; including ready access to design, development, and financing professionals via project-specific and pooled procurements;
  • Make final decisions on all budget submissions for Development Division;
  • Attend Executive Staff meetings;
  • Provide leadership, mentoring, professional guidance, direction and supervision to division team members; including development, administrative, and construction personnel;
  • Manage progression of all development projects including gaining board approval and the timely preparation of board materials;
  • Make presentations to the Commission on individual projects as well as on division initiatives;
  • Participate in meetings with County Executive, County Council, County Planning Commission;
  • Testify before County Council;
  • Represent HOC on panels and in legislative communications on matters related to the business of the agency;
  • Develop new legislative program initiatives and regulatory amendment suggestions;
  • Coordinate with the Chief Financial Officer; Chief Development Funds Officer; and directors of Asset Management, Property Management, and Maintenance across the lifecycle of development projects and in evaluating the existing portfolio for reinvestment.
  • Meet with Executive Staff at HOC, other HOC staff, employees of other public agencies, consultations, and employees of private organizations as required to share information, resolve problems, agree upon courses of action or to otherwise arrive at appropriate processes to create acceptable outcomes as a result of above duties;
  • Perform other related duties as assigned.

Preferred Skills:

  • Ten years of increasingly responsible experience in the field of developing housing, including housing for low- and moderate-income households. At least three years of supervisory experience involving professional level employees.
  • Graduation from an accredited college or university with a related field. Master's degree in a related field preferred.

An equivalent combination of education and experience may be accepted. Low income residents in Montgomery County with the above qualifications are encouraged to apply.

HOC is an equal opportunity employer committed to diversity and inclusion in the workplace. All qualified applicants will receive consideration for employment without regard to sex, race, color, age, national origin, religion, disability, genetic information, marital status, sexual orientation, gender identity, gender reassignment, citizenship, immigration status, protected veteran status, or any other basis prohibited under applicable federal, state or local law. HOC promotes a drug-free workplace.

HOC conducts criminal background checks, employment reference checks, and where applicable, reviews driving records in determining suitability for employment. Selected applicants will be required to submit to pre-employment drug and alcohol screening. Employment is contingent upon drug and alcohol test results.