Deputy Director - Real Estate Disposition

boston planning & development agency

**BOSTON RESIDENCY IS A CONDITION OF EMPLOYMENT WITHIN 6 MONTHS OF START DATE**

TITLE: DEPUTY DIRECTOR - REAL ESTATE DISPOSITION

GRADE: 10 STATUS: EXEMPT

DEPARTMENT/DIVISION: REAL ESTATE/DISPOSITION

SUMMARY OF RESPONSIBILITIES:

Under the direct supervision of the Director of Real Estate, and in close collaboration with the Planning and Legal divisions, the Deputy Director of Real Estate Disposition is responsible for managing efforts to redevelop BPDA owned vacant and underutilized properties into community supported end uses.

The BPDA is responsible for managing a portfolio of over 13 million square feet of land across Boston neighborhoods including signature properties such as the Charlestown Navy Yard, Long Wharf, the Raymond L. Flynn Marine Park as well as significant neighborhood based holdings across Boston. The Deputy Director of Real Estate Disposition will focus team efforts on bringing underutilized properties into productive use and is responsible for implementing strategies to shepherd them successfully into development as housing, economic development, or permanent open space. The role’s recommendations and decision-making will be informed by reporting and metrics, enabled by the standardization and organization of existing processes.

GENERAL DUTIES AND RESPONSIBILITIES:

Disposition Research and Planning

• Supervises staff maintenance of systems to prioritize and track the disposition status of developable BPDA property
• Creates detailed financial models to evaluate potential development scenarios on BPDA property
• Collaborates with the Planning team and community stakeholders to evaluate potential development options against existing zoning, neighborhood context, policy objectives and economic development priorities
• Manages systems that maintain an accurate record of the BPDA’s owned land portfolio and the status of disposition projects across the portofolio
• Researches and identifies potential properties for acquisition to support the BPDA’s and the City’s community and economic development goals
• Works with internal and external parties to understand market shifts and forecast industry trends and the resulting impact on BPDA properties
• Understands the full value of each BPDA property and ensures that the benefits of development accrue to the Agency and to the people of Boston and do not unreasonable enrich private interests

Community Engagement

• Participates and leads public discussion and community meetings to engage the public and achieve consensus wherever possible on site-specific development priorities
• Coaches staff on navigating public process concerns, engaging community members, weighing conflicting views and providing exceptional constituent service
• Operates transparently and collaboratively with community members, real estate developers, public officials and other stakeholders
• Manages relationships with abutters to BPDA properties during the development process.
• Prioritizes inclusivity and equity in both the public process around development and in the development process itself
• In coordination with the Planning Division and the Director of Diversity Equity and Inclusion, leads efforts to establish greater participation and equity in BPDA real estate decisions

Technical Real Estate Property Sales Execution

• Markets and solicits interest in property ranging from outreach to professional real estate developers, to coordination with community development groups with an interest in acquiring land, to engagement with abutters and nearby residents who may the best recipients of small infill undevelopable property
• Authors or manages the creation of Requests For Proposals (RFPs) and other technical documents to solicit development interest and guide the award of development rights through the BPDA board
• Applies Massachusetts General Laws Chapter 30B to the property disposition process
• Works closely with the BPDA’s Commercial Leasing team to establish appropriate land lease payments for properties going into development
• Conducts acquisition due diligence, negotiations acquisitions, and works with the Legal Department on acquisition closings.

Development Underwriting and Financial Analysis

• Creates models and pro-formas to evaluate the financial feasibility of various potential development scenarios on BPDA property
• Analyzes the financial submissions of developers competing to develop BPDA property and provides recommendations on the relative strengths, weaknesses and overall feasibility of proposed projects
• Procures financial and real estate consultant services to assist with BPDA financial decision making and manages the work of consultants

Project Management

• Provides detailed oriented project management of all development on BPDA owned land at all stages of the development including project inception, community process, evaluation of proposals, tentative designation at the BPDA board, permitting and Article 80, and construction.
• Represents the BPDA in negotiations with developers until the successful completion of the project
• Establishes systems to track the project management tasks and responsibilities of staff members involved in real estate disposition
• Works closely with the Development Review Department to manage the successful development of large scale developments on BPDA owned land.
• Clearly communicates the outcomes of the BPDA’s real estate development efforts to internal and external stakeholders

Leadership

• Supervises assigned staff
• Articulates the policy objectives of the BPDA for BPDA property and advances these priorities
• Authors and executes written policies and procedures as required
• Coordinates with other City of Boston departments on projects intended to advance the City’s priorities
• Manages analysis and reporting on how BPDA real estate assets contribute to the overall economic and community development goals of the City of Boston
• Evaluates and proposes solutions in conjunction with the office of DE&I to concerns raised by the public around diversity, inclusion and neighborhood economic development
• Performs other duties as assigned

In addition to the tasks above, the Deputy Director of Real Estate Disposition may also perform other duties as assigned to advance development on BPDA owned land.

QUALIFICATIONS:

• Work requires a Bachelor's degree in Business Administration, Real Estate, Public Administration or related field or equivalent, plus 6+ years directly relevant real estate development experience. Master’s degree is preferred and may be used to substitute for 2 years of the required experience.
• Experience with real estate transactions exceeding $10 million strongly preferred
• Understanding of Massachusetts General Law Chapter 30B governing the disposition of public real estate
• Strong financial modeling skills and the demonstrated ability to build accurate conceptual real estate development pro-formas
• Exceptional community engagement skills and the ability to build relationships and consensus across stakeholder groups.
• Excellent oral, written, and interpersonal communication skills
• Self-motivated team player that is curious and able lead cross functional groups through complex work
• Detailed oriented project management skills
• Demonstrated ability to supervisor, coach and mentor assigned staff
• Strong critical thinking to continuously review internal policies and procedures in order to improve upon and standardize processes
• Values-driven leader that priorities diversity, inclusivity, and public good
• Must exercise discretion and sound judgment and be capable of handling confidential and highly sensitive information with professionalism and unquestionable integrity

WORK ENVIRONMENT:

Mostly office environment work with limited site visit responsibilities.

PHYSICAL REQUIREMENTS:

Little or no exertion; may spend extended periods at desk. May need to travel between the three BPDA sites.

SCOPE:

Manage staff of up to 5.

**BOSTON RESIDENCY IS A CONDITION OF EMPLOYMENT WITHIN 6 MONTHS OF START DATE**