Vice President, Development

Department Overview: NYCEDC’s Asset Management Division manages 65 million square feet of real estate properties and non-traditional assets across all five boroughs of New York City including commercial and industrial real estate properties as well as transportation, critical infrastructure, and energy assets. The division pursues a triple-bottom line strategy, targeting economic returns and multiple social metrics including job creation, and growing equitable neighborhoods; as well as ensuring a thoughtful approach to incorporating sustainable and resilient measures. The division-wide portfolio encompasses a wide variety of property types, including Retail, Mixed-Use/Commercial, Industrial, Transportation assets including Cruise, Freight/Rail, and Aviation, and Cultural assets. 

The Development department within the Asset Management division works with the portfolio and asset managers to identify opportunities for the redevelopment and/or repositioning of these assets to both improve the economic returns of the assets and to incorporate EDC’s strategic policy initiative directives. Current focus areas include the Manhattan Cruise Terminal, the Sunset Park campus (including the Brooklyn Army Terminal and Made in New York Campus), the Teleport Campus, the Brooklyn Marine Terminal, and the Hunts Point Food Market.  

Position Overview: The VP, Development will be a key member of the Development team. This role involves managing a team responsible for guiding projects through all phases of the development process, from master planning and site planning to financial analysis, design, and construction oversight. The VP will work across departments within Asset Management, including Portfolio Management, Ports, Waterfront and Transportation, Operations, Strategic Analytics, Energy, and Design and Construction. The VP will also work across EDC divisions, including Planning, Real Estate Transactions, Legal, Government and Community Relations, and Finance.     

Essential Duties & Responsibilities:

• Draft requests for proposals and manage procurement processes for development consultants including planners, architects, engineers, financial analysts and construction management. 
• Build and maintain detailed financial models of potential redevelopment projects. 
• Direct financial structuring analysis (NPV, IRR, COC, etc.) to isolate key drivers of investment return. 
• Collaborate with colleagues in other departments in NYCEDC such as Legal, to ensure seamless project execution. 
• Provide strategic direction, problem solving, and coordination for multi-disciplinary teams engaged in large-scale planning for redevelopment efforts. 
• Demonstrate managerial experience/ability with specific focus on ability to lead and motivate teams to set and meet goals, expectations and deadlines with limited oversight. 
• Contribute to the development of the NYCEDC Asset Management revenue diversification strategy which includes P&L management, budgeting, site identification, capital investment, property marketing material needs, project timelines, etc. 
• Prepare updates for senior leadership and City Hall that effectively communicate project progress, purpose, challenges, context and next steps.    
• Mentor and cultivate junior staff knowledge and skills development. 
• Other duties as assigned. 

Minimum Qualifications:

• Master’s degree or equivalent in Urban Planning, Real Estate, Business Administration, Public Policy, or a related field preferred. 
• 7-10 years of experience in urban planning, real estate development, city government, asset management, or a related field. 
• Familiarity with urban development, economic development, financial modeling, real estate research, real estate transactions, leases and contracts of sale. 
• An independent and strategic thinker with an entrepreneurial approach to work. 
• Demonstrated written and oral communication skills including public speaking. 
• Proven project management skills, including the ability to prioritize competing needs and opportunities, and manage multiple projects simultaneously while maintaining attention to detail.   
• Self-motivated and a self-starter with demonstrated enthusiasm, working effectively both independently and as part of a team. 
• Familiarity with NYC government processes, especially land use entitlements. 
• Proficient in MS Office, including Word, Power Point, Excel.  
• Strong sense of professional judgement and the ability to solve problems creatively. 
• New York City residence is required within 180 days of hire. 

Last updated on Aug 5, 2024