Real Estate Development Officer

Overview

Under the direct supervision of the Deputy Director of Disposition, the Real Estate Development Officer is responsible for managing the redevelopment process of vacant or underutilized parcels to create more affordable, equitable, and resilient uses.

The Real Estate Division within the Planning Department manages a portfolio of over 13 million square feet of land across Boston neighborhoods. The properties include the Charlestown Navy Yard, Long Wharf, and the Raymond L. Flynn Marine Park, as well as significant neighborhood-based redevelopments. Notable active disposition projects include the Austin Street Parking Lots in Charlestown, Housing + Library projects in Uphams Corner and Chinatown, Parcel P-3 in Roxbury, and many others. The Real Estate Division also works closely with a variety of other City of Boston departments on disposition activities. As a collaborative member of the disposition team, the Real Estate Development Officer will focus on leading and coordinating the due diligence, financial analysis, community engagement, and legal transactions necessary to successfully develop housing, public assets, economic development, or permanent open space throughout Boston.

Responsibilities

Disposition Research and Planning:

1. Maintains systems to prioritize and track the disposition status of develop-able property.
2. Creates financial models to evaluate potential development scenarios.
3. Collaborates with City Staff and community stakeholders to evaluate potential development options against existing zoning, neighborhood context, community feedback, policy objectives, and economic development priorities.

Community Engagement:

1. Participates and leads public discussions and community meetings to engage the public and achieve consensus wherever possible on site-specific development priorities.
2. Operates transparently and collaboratively with community members, real estate developers, public officials, and other stakeholders.
3. Manages relationships with abutters during the development process.
4. Prioritizes inclusivity and equity in both the public process around development and in the development process itself.

Technical Real Estate Property Sales Execution:

1. Authors Requests for Proposals (RFPs) and other technical documents to solicit development interest and guide the award of development rights.
2. Applies Massachusetts General Laws Chapter 30B to the property disposition process.
3. Orders and interprets appraisals as needed.
4. Tracks the real estate market in Boston and applies this knowledge to advise strategic decision-making.
5. Works closely with the Commercial Leasing team to establish appropriate land lease terms and payments for properties going into development.
6. Works closely with the Legal division to negotiate the business terms within real estate transactions.

Development Underwriting:

1. Creates models and pro-formas to evaluate the financial feasibility of various potential development scenarios.
2. Analyzes the financial submissions of developers competing to develop property and provides recommendations on the relative strengths, weaknesses, and overall feasibility of proposed projects.

Project Management:

1. Provides detailed oriented project management of all projects at all stages of the development, including project inception, community process, evaluation of proposals, tentative designation, permitting and Article 80, and construction.
2. Negotiates with developers until the successful completion of the project.
3. Establishes systems to track the project management tasks and responsibilities of staff members involved in real estate disposition.

Fiscal Stewardship:

1. Understands the full value of a parcel and ensures that the development benefits the people of Boston and does not unreasonably enrich private interests.
2. Ensures that today’s development deals protect the long-term fiscal health of the Agency.
3. Computer Knowledge such as Microsoft Office and Google Suite.

In addition to the tasks above, may perform other duties as assigned to advance development on publicly owned land.

Minimum Entrance Qualifications

1. Work requires a Bachelor's degree in Business Administration, Urban Planning, Real Estate, Public Administration, Public Policy, or a related field or equivalent, in addition to two plus (2+) years of directly relevant real estate development experience. A Master's degree is preferred and may be used to substitute for the required experience.
2. Understanding of Massachusetts General Law Chapter 30B governing the disposition of public real estate.
3. Understanding of financial modeling and the demonstrated ability to build accurate conceptual real estate development pro-formas.
4. Excellent public speaking, interpersonal, and negotiation skills, with a preference for experience in community engagement work with diverse populations.
5. Excellent written communication.
6. Self-motivated team player that is curious and able to lead cross-functional groups through complex work.
7. Detailed-oriented project management skills.
8. Strong critical thinking skills are required to continuously review internal policies and procedures in order to improve upon and standardize processes.
9. Values-driven leader who priorities diversity, inclusivity, and the public good.
10. Must exercise discretion and sound judgment and be capable of handling confidential and highly sensitive information with professionalism and unquestionable integrity.

BOSTON RESIDENCY REQUIRED

Terms: Union/Salary/Grade: EXM/($75,000 - $105,000) Hours per week: 35