Friday, November 14, 2014

Forest City seeks "Vice President of Development (Atlantic Yards)." But not Pacific Park?

A reader pointed me to the following job advertisement for Vice President of Development (Atlantic Yards) posted by Forest City Enterprises for its Forest City Ratner subsidiary.

The search for a new staffer for Atlantic Yards--even if, as I highlighted below, the person will work on other projects--suggests that, yes, they're ready to ramp up. And that the ascension last year to CEO by MaryAnne Gilmartin left a job to be filled.

I don't know how long the job notice has been posted, so it's possible that it's been up since before they changed the project name to Pacific Park Brooklyn. But you'd think they'd want to update it.

Similarly, it may be have been posted before the joint venture with Greenland Holdings, creating Greenland Forest City Partners, began, but it does seem a bit remiss not to update it to tell the new VP he or she might ultimately be answering to (people working for) the government of Shanghai.

Vice President of Development (Atlantic Yards)
One of the foremost urban real estate developers in the New York metropolitan area, Forest City Ratner Companies maintains a strong commitment to developments that enhance local communities and encourage economic development. Based in Brooklyn, Forest City Ratner Companies is a full-service, vertically integrated real estate company with expertise in all facets of development. It is well known as a firm that consistently takes on and completes large, complex mixed-use projects.
Job Description: Position Summary
The Vice President of Development is responsible for the day-to-day management and implementation of projects throughout the development process from conceptual design to entitlements, through lease up and stabilization, while partnering closely with in-house construction and finance. This position will be working on multiple projects or buildings within the Atlantic Yards project and other future development projects.

The Atlantic Yards Land Use and Civic Improvement Project is a major, mixed-use development in the heart of Brooklyn, which, when complete, will add 6,400 residential units and 8-acres of open space to the dynamic intersection of Prospect Heights, Ft. Greene, Park Slope and Downtown Brooklyn.
The VP of Development should possess a significant track record in design and programming of residential buildings, especially condominium development.
Essential Job Functions
1. Oversee and manage all aspects of a development including design, entitlement/government approvals, project budgets, leasing and marketing, and financial feasibility. (50%)
2. Take leadership and ownership for the execution of the development plan, with the goal of maximizing value creation. (10%)
3. Work closely with architects and engineers to maximize land usage, building efficiency and design integrity. (10%)
4. Perform financial and economic feasibility studies; (10%)
5. Oversee day-to-day project management responsibilities: Careful attention to whether the project is proceeding on time, on budget and in accordance with plan. (10%)
6. Perform and analyze market research on the specific markets that the development project impacts (10%)
Financial Responsibility
Develops and adheres to budgets $xx.
Supervisory Responsibility
Will supervise Project Manager and other team members
Education
An undergraduate degree from an accredited college or university is required. Graduate degree preferred.

Experience
In addition to the education outlined above, over 7 years of progressively responsible experience with direct real estate development is required. Proven skill in maximizing the financial performance of a large complex residential development project; Experience in ground-up condominium new construction development.

Essential Skills
• Ability to lead and manage a large consulting team while collaborating with in-house construction, finance and property management and develop a diverse and dynamic team on an individual and corporate level.
• Excellent communication and presentation skills with the ability to interact with various officials, consultants and community groups.
• Critical thinking skills with the ability to assess, synthesize, and communicate issues and solutions to senior management.
• Disciplined and results driven with strong project management skills with the ability to ensure consistent focus on key drivers and performance metrics;
• Advanced financial and analytical skills, particularly related to real estate finance;
• Working knowledge of the principles and practices of real estate.
A (partial) screenshot




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