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Sr. Director - Redevelopment

Salary
Competitive
Employment
Full Time
Work Place
Remote
Real Estate Field
Location
IL
Country
United States

This job is no longer active.

Description


LivCor, a Blackstone portfolio company, is a real estate asset management business specializing in multi-family housing. Formed in 2013 and headquartered in Chicago, LivCor is currently responsible for a portfolio of over 400 Class A and B properties comprising more than 150,000 units in markets across the United States.

 

Our business is focused on making real estate more valuable. But for us, it’s more than that. It’s people first, community always. It’s a life-filled career, not just a career-filled life. It’s doing good work, with good humans, and making a difference. It’s excellence in all its forms. Ultimately, we create great places to work, live, and grow. We do that by focusing on leaving people – and places – better than we found them.

 

Whew! Still with us? Cool. Let’s talk about where you’d fit in:

The Senior Director, Redevelopment will be primarily responsible for identifying, planning, and executing value-add investment projects with a national footprint. Duties will include but not be limited to: assessing physical asset conditions, evaluating sub-market rent repositioning opportunities, developing and overseeing execution of renovation plans, providing direction to 3rd party operators and general contractors/vendors ensuring the success of the ROI projects, assisting with the review of annual budgets and quarterly reforecasts (related to expense and ROI initiatives), additional ad-hoc investment opportunities, project management, and procurement coordination as needed.

This position can be fully remote.

 

Only read further if you are:

  • Kind
  • Humble
  • Honest
  • Relentless
  • Smart with Heart

You should be:

  • Authentic. You do you. Together, we’ll do something amazing.
  • A passionate person with a love for real estate and investing; and believes that helping others win is a noble cause, essential to our success.
  • An excellent team player who enjoys working with others and has strong interpersonal skills.
  • Highly motivatedenergetic, and organized
  • Gumby. Things change.

 

What you will do:

  • Initiate redevelopment project discovery and scoping with Asset Management, Operations, Construction Services, Marketing, Revenue Mgmt., etc. Work with stakeholders to develop unit interior and common area/amenity scopes.
  • Evaluate physical condition of assets and recommend customer driven value-add renovation scope(s) to enhance form and function of physical.
  • Evaluate trended submarket conditions and recommend incremental revenue.
  • Coordinate with Construction Services and Asset Management to determine which items scheduled for Capex could or should be completed in conjunction with redevelopment.
  • Review proposed redevelopment for any entitlement opportunities, zoning ordinance, city concerns, title restrictions or HOA/POA constraints; strategize best approaches thereto.
  • Develop written value-add investment plans for inter-company coordination as well as operator engagement.
  • Select and engage all designers, planners, engineers, architects, decorators and other third-party consultants as may be necessary in the redevelopment and construction of the project. Monitor execution of contract requests for consultants.
  • Lead the team through development of the concept plan for the project including the types of land uses, building typologies, entrances and access points, amenities, number and configuration of units, signage, and any other aspects of the conceptual plan for the project.
  • Lead project teams of professional design consultants and internal/external company partners including Asset Management, Construction Services, Marketing, and Property Management through the design phases of the project.
  • Present and obtain internal ownership approvals for the project including market justification, unit interior and common area / amenity scope, cost, financial return, and business justification. 
  • Oversee and ensure the obtaining of all permits, external approvals, entitlements and licenses necessary for the development of the project.
  • Collaborate with Construction Services provider to ensure satisfactory strategy is executed for bidding/RFP process.  Collaborate on bidder selection, respond to RFIs or route RFI to appropriate respondent, review bids, select bidder and approve as necessary.
  • Once construction is underway, monitor construction activities and ensure compliance with construction contracts, quality of work, applicable schedules and projected time of completion. Provide general oversight of the redevelopment construction project.
  • Advise the company and ownership regarding any recommended “change orders,” value engineering proposals, plan change recommendations, specifications and budgets. Evaluate for cost impact to overall project budget.
  • Provide input and influence resident communication executed by Marketing and Property Management.
  • Ensure completions are consistent with business plan. Drive process improvement initiatives using analytics (trend analysis, variance analysis, ) as it relates to managed initiatives.
  • Identify redevelopment project team needs, source necessary consultants through competitive RFP process.
  • Ensure the delivery of an outstanding internal/external customer experience as redevelopment project manager for departmental partners, senior management and ownership entities.

 

What you should have:

 

Required:

  • A minimum of 10 years’ work experience in a similar role or 12-15 years in some combination of the following: real estate development/redevelopment, architecture/design, construction services, asset management, or investment strategy. Preferred experience in multifamily sector.
  • Experience working at a publicly traded real estate, institutional financial services, or public/private equity firm preferred. In addition, experience in REIT performance metrics and reporting.
  • Bachelor’s degree in economics, architecture, business, or finance (MBA or relevant master degree or certification/license preferred.)
  • Substantial experience in a leadership role (or equally deep understanding) of property management and operations as it relates to underlying redevelopment success within marketing, advertising, pricing, and ‘selling’ of redevelopment product.
  • Strong analytical skills and ability to produce and effectively evaluate performance reports.
  • A strong work ethic, the strength to thrive in a dynamic and demanding work environment, and an ability to meet critical deadlines.
  • Strong critical thinking skills and the ability to make confident business decisions under tight deadlines.
  • Strong real estate investment knowledge (multifamily preferred).
  • Strong oral and written communication skills. Interaction with personnel at all levels will be required.
  • Ability to assess investment risk quickly and effectively.
  • Agility to identify and make appropriate adjustments to scopes/specs/production volumes/price as required.
  • Travel 50% (Ability to travel during 2-3 weeks per month; variable duration between 1-4 days typical) 

Preferred:

  • Prior experience with investment modeling, budgeting/forecasting and underlying drivers of operational, financial and cash flow performance.
  • Multifamily research experience is preferred (Axio, REIS, MPF, CoStar, Pierce-Eislen, PPR, Real Capital Analytics).
  • Prior Multi-family investment knowledge.

What we offer:

We know that if we take care of our team everything else will fall into place. We aren’t perfect, but we will try to set very clear expectations, always let you know where you stand, and do everything in our power to help you get where you want to go.

 

Our culture and values matter to us. A lot. We’re definitely not serious but we take this stuff seriously, if you get what we mean. We want a place that is an ego-free zone. A place where good people do good things together. It shouldn’t be rocket science in workplaces, but for some reason it still is? We’re absolutely determined to be different, and we think we’re doing a pretty good job at it. We have a CEO who makes fun of himself, and who will encourage you to tell him when he is wrong. In fact, he needs people to – we all do. Supportive challenge is good, it’s how we get better. We like getting better. We also love diversity, of all kinds. We need people who look, sound, speak, love, and exist differently from one another. This isn’t at the end of this paragraph because it’s an afterthought. It’s SO important to us we want it to stand out.

 

Right. On to the technical stuff that we know matters to you. We offer competitive pay that is commensurate with the market and relevant experience, and a full slate of benefits that even includes things like paid parental leave.

  

If any of this sounds interesting, then maybe we are a fit. Life is too short to work with people you don’t like. So whatever you do, don’t make that mistake.

 

In compliance with the Colorado Equal Pay for Equal Work Act, the salary range for this position is $212,750- $241,500 (for candidates that reside in CO).  This role is bonus eligible.  Benefits include generous health insurance and wellness benefits, 401(k), and paid time off.

 

The LivCorian Values

  1. Be you. Be Real. Be Open. You do you. Together, we will do something amazing.
  2. Care, Always. We don’t want to let anyone down.
  3. Courageously Curious. We love to learn, even when it hurts.
  4. Help Others Win, Be A Good Neighbor. This is about ‘We, not Me.’
  5. Relentless Hustle, Heart & Humility. Work hard. Be Kind. Make Better.

LivCor is proud to be a US EPA ENERGY STAR® Partner

 

EEO Statement

Our company is proud to be an equal opportunity employerWe celebrate diversity and are committed to creating an inclusive environment for all employees. Our employment decisions are based on individual qualifications, job requirements and business needs without regard to race, color, marital status, sex, sexual orientation, gender identity and/or expression, age, religion, disability, citizenship status, national origin, pregnancy, veteran status and or any other legally protected characteristics. We are committed to providing reasonable accommodations, if you need an accommodation to complete the application process, please email us. 

 

Job Function


Not specified

 

Job Sector


Not specified

 

Experience


10+ to 15 years


This job is no longer active.

Architecture / Design Chicago Full Time IL Sr. Director - Redevelopment other