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Vice President of Development

Department: Development
Location: Washington, DC

The Vice President of Development (VPD) directs and coordinates activities related to UIP’s development projects; occupied, vacant and “ground-up”; from acquisition and initiation of a project – envisioning and underwriting, designing and building/renovating; through to delivery of the product to market for lease-up or sale. The ideal candidate is someone who can source, underwrite, and champion deals (60%) while directing the activities of Development Associates and taking full advantage of the vertical integration of the firm, utilizing General Contracting, Property Management, as well as the Asset Management/Development team to create and communicate the concept and strategy for each potential and acquired project.

The VPD takes advantage of a deep list of local contacts, consultants, brokers and others with whom s/he has experience in the marketplace. VPD candidates have lived in the DC MSA for a period of time and have worked on projects in DC and the DC MSA. The VPD has a formal education in real estate development. The VPD’s experience is consistent with UIP’s business model.

Duties and Responsibilities

  • Responsible for the overall management and success of all development or redevelopment projects, from creating the vision and underwriting the budget, to transitioning the property to vacant or partially vacant through construction and value adds.
  • Works directly with the principals of the company assisting in projects; also work independently to plan and execute projects without direct supervision.
  • Delivers monthly reporting for the assigned projects as well as those assigned to the team; including review and report on financial statements, budget vs. actual, project status, and schedule.
  • Provides key inputs on responses to Requests for Proposals and Requests for Qualifications associated with pursuit of development opportunities.
  • Responsible for underwriting of project costs, from a conceptual design stage including preliminary specifications and scope, estimated project costs, and preliminary development timeline through project implementation and closeout.
  • Verifies that all project information related to building of the project, including project size, project costs, and key dates, is accurately input in the asset management system and that any subsequent changes are reflected there on a timely basis.
  • Coordinates due diligence on prospective land or building acquisitions, including hiring third party consultants such as environmental, civil, architects, and other engineers as appropriate, negotiating terms of their engagements including defining scope of investigations, management of those consultants, interpretation of results of consultants' findings for business unit pursuit team, and review and approval of cost estimates generated as part of due diligence process.
  • Deals effectively with investors and others, resulting in retained/expanded business and the delivery of targeted, cost effective products.

Qualifications

  • 10+ years’ experience in real estate development and/or redevelopment oversight with a focus on value-add real estate investment with experience in project management and construction
  • Bachelor’s degree in Real Estate, Architecture, Engineering, Construction Management, or Business; Master’s degree preferred
  • Proven successful experience in managing redevelopment projects from underwriting and acquisition, through planning, permitting, construction/renovation and lease-up of rental apartments or sale of individual condominiums
  • Experience in construction, architecture, and/or multifamily projects
  • Experience in working with architects, engineers, contractors, property managers to execute an overall vision, strategy and plan for development and redevelopment of residential apartments, condominiums and commercial retail space
  • Strong knowledge of the DC market and DC Rent Control, TOPA, permitting, and zoning
  • History of working with groups and divisions within one company or a group of companies
  • Exceptional leadership skills and a solid history of managing and motivating others
  • Must be a self-starter, highly motivated and goal oriented
  • Excellent interpersonal, written and verbal communication skills
  • Strong analytical and problem-solving skills
  • Flexible and able to handle multiple projects and tasks simultaneously
  • Track record of consistently completing development projects on time and on budget

UIP is an Equal Opportunity / Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, age, disability, genetics, sexual orientation, or protected veteran status.

 

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