The University of Pennsylvania, the largest private employer in Philadelphia, is a world-renowned leader in education, research, and innovation. This historic, Ivy League school consistently ranks among the top 10 universities in the annual U.S. News & World Report survey. Penn has 12 highly-regarded schools that provide opportunities for undergraduate, graduate and continuing education, all influenced by Pennâ™s distinctive interdisciplinary approach to scholarship and learning.
Penn offers a unique working environment within the city of Philadelphia. The University is situated on a beautiful urban campus, with easy access to a range of educational, cultural, and recreational activities. With its historical significance and landmarks, lively cultural offerings, and wide variety of atmospheres, Philadelphia is the perfect place to call home for work and play.
The University offers a competitive benefits package that includes excellent healthcare and tuition benefits for employees and their families, generous retirement benefits, a wide variety of professional development opportunities, supportive work and family benefits, a wealth of health and wellness programs and resources, and much more.
Posted Job Title
Director, Development Management, Real Estate
Job Profile Title
Job Description Summary
The Division of Facilities and Real Estate Services (FRES) provides the expertise, business process, policies and standards required to plan, design, construct, operate, maintain and renew the physical assets of the University, excluding the health system. In addition, the Division, comprised of approximately five Departments, is responsible for the strategic planning, management and operation of non-academic University property, and collaborating with the neighborhood to create a safe, diverse and economically vibrant destination. With close to 12M square feet of space, FRES maintains 186 buildings on a campus of 276 acres, completes over 60,000 maintenance requests per year, and starts approximately 250 projects a year. FRES is comprised of the following Departments: Administration, Office of the University Architect, Design and Construction, Real Estate, Operations and Maintenance.
Reporting to the Executive Director of Real Estate Services, the individual is responsible for the real estate development strategy for the institution related to non-academic assets. The University designs and builds with a commitment to sustainability. Development projects will also be constructed with a commitment to sustainability as identified in Penn's Sustainability and Climate Action Plan. The Director of Development Management, Real Estate will effectively oversee internal and external teams to achieve development project success.
Responsibilities include analysis and planning of 3rd party real estate development projects from inception to completion including RFQ/RFP process, proposal analysis, financial modeling and tracking of all aspects of design and construction. The University of Pennsylvania utilizes ground lease development and partnership strategies to leverage Penn land in creating real estate development projects which includes off-campus residential, office, warehouse, and lab/innovation space.
The development process includes identifying resources, implementing strategy and overseeing progress through to completion. The Director also assists in acquisitions and dispositions of assets on behalf of the institution. The Director manages and supervises an Asset manager, who supervises the Director of Arts and Culture, in conjunction with these activities.
This position requires strong real estate finance, analysis, problem solving, budget management, and negotiation skills.
Â·Development Solicitation and Engagement - Manage solicitation process of development partners through to delivery of development project. Evaluate and engage local marketplace to identify development partners to align segment partners. Monitor and manage from pre-development evaluation, entitlement (including state and city economic opportunity plans) review through to design and construction as owner's representative supported by Real Estate Team, including reporting project progress and monitoring budget and schedule.
Â·Strategic Development Planning - Working with Senior leadership to evaluate and analyze opportunities to leverage Penn land for development opportunities and to align with investor market. Perform analysis and support for development strategy inclusive of 3rd party delivery, partnership or turnkey development.
Â·Supervision and Leadership - Supervision of staff including coaching, mentoring, reviewing materials and evaluation of staff.
Â·Market Intelligence and Analysis - Monitor local, regional and national development trends and report external and internal forces, which may impact development opportunities and structures. Track multi-family, co-working and construction industry trends of local market to inform strategic direction. Develop and maintain database of key projects in local market.
Â·Acquisition and Disposition - Oversee and assist as directed the acquisition and disposition of identified assets including due diligence, valuation analysis and preparation of materials for approvals.
Â·Documentation Preparation - Prepare Real Estate Steering Committee and Trustee materials for Penn leadership approval, and finalize Letter of Intent, and oversee development projects to inform strategic direction. Develop and maintain database of key projects in local market.
Â·BA/BS in Business Administration, Real Estate, Finance, Legal or Engineering; MBA desirable.Minimum 7-10 years of relevant experience in real estate development, site selection, and contract negotiations, or equivalent combination of education and experience.
Â·Demonstrated experience with strategic planning of design and construction project management with third party property management, budget development and administration. Ability to manage diverse stakeholders including corporate partnerships desirable, and experience with economic development.
Â·Must have 3-5 years supervisory and management experience of professional staff; strong communications (written and verbal) and relationship building skills; web experience desirable.
Â·Must be self-directed, able to work independently an in a team-oriented environment.
Â·Strong business acumen and real estate development expertise required.
Â·Leadership or knowledge related to higher education desirable.
Job Location - City, State
Department / School
Facilities and Real Estate Services
$108,411.00 - $205,981.00
Affirmative Action Statement Penn adheres to a policy that prohibits discrimination on the basis of race, color, sex, sexual orientation, gender identity, religion, creed, national or ethnic origin, citizenship status, age, disability, veteran status, or any other legally protected class.
Special Requirements Background check required after a conditional job offer is made. Consideration of the background check will be tailored to the requirements of the job.
Internal Number: JR00001777
About University of Pennsylvania
Penn has a long and proud tradition of intellectual rigor and pursuit of innovative knowledge, begun by Benjamin Franklin in 1740. That tradition lives today through the creativity, entrepreneurship, and engagement of our faculty, students, and staff. Academic life at Penn is unparalleled, with an undergraduate student body of 10,000 from every U.S. state and around the world. The entering class of 2015 is the most talented and diverse in Penn's history. Consistently ranked among the top 10 universities in the country, Penn welcomes an additional 10,000 students to our top-ranked graduate and professional schools.