Director - Development

Overview

When you join Hines, you will embark on a career journey fueled by vision and guided by leaders who set the standards of our industry. Our legacy is rooted in innovation and excellence, earning us a spot on Fast Company’s esteemed annual list of the World’s Most Innovative Companies, as well as recognition as one of U.S. News & World Report’s Best Companies to Work For in 2024. Discover endless opportunities to grow and make your mark at Hines.

Responsibilities

As a Director – Development with Hines, you will be responsible for managing multiple real estate development and/or redevelopment projects. The Director of Development is responsible and accountable for project financial results and investment returns for Hines and its co-investors. Responsibilities include, but are not limited to: 

• Manage multiple real estate development and/or redevelopment projects across various asset types

• Source and execute acquisitions across various asset classes and a variety of risk profiles on behalf of Hines’ discretionary funds as well as in association with joint venture partners

• In coordination with the Managing Director and local city teams, manage various aspects of acquisitions, which can include sourcing new opportunities as well as developing and cultivating strong relationships with owners of institutional-grade real estate, commercial real estate brokers and joint venture partners

• Manage underwriting and due diligence processes related to new pursuits

• During pre-acquisition, coordinate all underwriting aspects and build project proforma: market research, municipal fees, site constraints, development budget, development schedule, construction budget, construction schedule, operating budget, and financial assumptions

• Be able to identify the critical path for entitlements and progress the project forward to shovel-ready with minimal oversight

• Gain entitlements for development projects through coordination with governmental agencies, formulate strategies for land use code amendments, and direct internal and external development teams as needed

• Perform all predevelopment activities including feasibility, design, layout and entitlement, permitting and due diligence. With senior management and consultant team, determine and program the scope, quality, and design of projects

• Work with senior management on the final development agreements and any easement agreements that need to be obtained

• Coordinate with the finance team on any loan requirements throughout the process

• Complete inspections and review legal documents related to property acquisitions including purchase agreements, title and survey, government agreements and closing exhibits

• Execute and fine tune business plan (process entitlements and position for joint venture or sale; process entitlement and perform vertical construction). Develop and refine plans, designs, cost estimates, permitting and project timelines during the pre-construction period

• Create and own the development/redevelopment project PreDevelopment and Development Budget and ensure the project is within the approved budget

• Coordinate with construction team throughout predevelopment and into construction to verify a smooth project transition and ensure that all development agreements and assumptions are maintained. Verify construction costs throughout to minimize plan changes

• Facilitate correspondence between construction and design teams

• Coordinate with Property Management and Asset Management on operating budget assumptions, including rents and concessions, and lease-up schedule throughout the lease-up process to verify accuracy of the underwriting assumptions

• Coordinate with Property Management on managing and leasing existing improvements/businesses on the site to the extent there are any

• Conduct weekly coordination meetings between construction and Property Management to keep the project on track and address any issues that arise

• Update and track all proforma/budget changes throughout the project and maintain monthly updates to senior management and investor partners from acquisition through project completion

• Responsible for maintaining and acquiring all documents for final project close-out, including keeping track of all outstanding letters of credit or bonds that needed to be posted

• Develop relationships with landowners, developers, civic and community groups, and government agencies conducive to originating, supporting, or processing new opportunities

Managing Others:

• Hire, manage and direct the career development of his/her team
• Ensure his/her team has the appropriate technical skills, tools, and facilities to competently perform their roles
• Manage employee performance through the Company’s performance review process
• Demonstrate effective management, leadership, coaching and development of staff to achieve Company and project team goals and objectives
• Ensure goals and objectives are established for all staff within designated timeframes
• Ensure job responsibilities and expectations are clearly defined and communicated, work is assigned and distributed appropriately, staff is appropriately trained, and performance issues are addressed in a timely manner
• Regularly provide formal and informal feedback to team members including discussions of strengths and areas for improvement
• Complete well thought out and well documented performance reviews and annual salary recommendations within designated timeframes

Qualifications

• Bachelor’s degree in business administration, real estate, finance, economics, or engineering from an accredited institution required. MBA in business, finance, or real estate highly preferred
• Five or more years of experience with the responsibilities outlined above
• Ability to manage and lead a high performing team
• Excellent communication skills
• Excel modeling fluency
• ARGUS fluency preferred
• Work indoors approximately 75% of the time and outdoors 25% of the time
• On occasion, perform physical inspections of construction and sales sites
• Ability to lift up to 50 lbs
• Availability to travel within assigned territories as necessary 
• Compensation: $172,400 - $224,200

Closing

At Hines, we strive for excellence as a leading global real estate investment manager, driven by our by our belief that real estate is fundamentally about people. Our diverse portfolio spans $93.2 billion¹ of assets across such property types as living, office, retail, mixed-use, logistics and life science projects – all designed to enhance value, connection and inspiration. Our strategic approach integrates local expertise with global knowledge, taking calculated risks aligned with our convictions to exceed expectations and tailor solutions to our clients' needs.

While our projects are renowned for enhancing cities and pioneering sustainable practices, we recognize that the true driving force behind Hines' success is our 5,000 dedicated employees in 30 countries who draw on our 65-year history to build the world forward. This is why we prioritize investing in our people, offering comprehensive training, competitive compensation, robust benefits and generous vacation packages. By centering our focus on the growth and wellbeing of our team, we cultivate an inclusive environment where everyone, including our clients, can thrive.

Hines is proud to be named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2024. ¹Includes both the global Hines organization and RIA AUM as of December 31, 2023.

We are an equal opportunity employer and support workforce diversity.

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