Current Opportunities
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Re-Development Associate
DUTIES & RESPONSIBILITIES:
- Assist Vice President in project management from conceptualization through occupancy, consistent with schedule and budget, and ensuring that company's marketing and profit objectives are met.
- Coordinates day-to-day operation of each development project; prepares financial analysis; prepares development feasibility reports for potential new projects; provides direction and information to ensure effective progress of each project; drafts required internal and external project reports (i.e. Board Packages, Quarterly Updates, etc.).
- Acts as Asset Manager for some projects and on others works closely with Asset Management staff in present and proposed projects.
- Establishes and monitors project pro-formas, objectives, costs, income and cash flow and presents these documents for review and approval.
- Maintains control of all expenditures to ensure conformance with project budget; identifies and presents any issues to Development staff.
- Processes all construction and development costs for payment and makes design decisions affecting operating costs.
- Establishes project development schedules and evaluates performance within schedules, making necessary revisions where appropriate.
- Supervises progress of all construction activities on projects consultation and in coordinated fashion with construction manager, including attending construction meetings, site inspections and team meetings.
- Monitors compliance with the architectural and engineering standards and criteria established and based on projected owner and tenant requirements and in conformance with project budget.
- Evaluates general and specialty contractors and consultants to determine those best suited for particular projects and makes appropriate recommendations to Vice President, Re-Development.
- Assists in coordination of closing on properties.
- Coordinates site plan changes, required due diligence studies, compliance with leasing/tenant requirements throughout project.
- Coordinates the bid process, negotiates and prepares construction agreements, and ensures proper administration of all contracts, makes appropriate recommendations to other Development staff.
- Interacts with all lenders, technical advisors, and mortgage bankers regarding pre- and post-commitment phases of projects.
- Coordinates the selection and purchase of all project amenities not included in construction contracts and presents recommendations to other Development staff.
- Works closely with Leasing Representatives to gain their input into design and construction decisions and to ensure compliance with the required minimum rents, tenant allowances and project costs in the approved pro-formas in order to secure the targeted return.
- Conceptualizes an undeveloped project that will create added value upon completion and directs others to achieve that conception.
- Keeps senior executives informed regarding development direction, management issues, and project decisions.
- Drafts overall capital development budgets and directs control of relocations for approval by Development Director; receives project accounting reports monthly and prepares the monthly project cost summary reports and job status reports.
- Makes presentations at public hearings when appropriate and provides documentation required by local boards or commissions.
- Abstracts project agreements (i.e., Leases, Easement Agreements, Agreements of Sale, etc.), track and complete milestone obligations of Developer under said agreements.
QUALIFICATIONS:
- Bachelor's Degree in Urban Planning, Finance or Business Administration
- Masters of Business Administration preferred
- Strong analytical and financial experience required. Experience working with budgets, cost analysis, accounts payable and accounts receivable experience, real estate or construction environment preferred
- Combination of equivalent education and experience necessary to effectively perform the responsibilities of the position.
- Ability to communicate effectively, both orally and in writing, with all levels of management, staff, outside legal counsel, bankers, merchants, etc.
- Effective interpersonal skills
LOCATION:
Corporate Office
Philadelphia, PA
Equal Opportunity Employer
To apply for a position with PREIT please send resume to:
careers@preit.com
Fax (215) 735-5286 or
PREIT/HR Department
200 S. Broad Street
Philadelphia, PA 19102
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