Under the direct supervision of the Director of Real Estate or their designee, and in close collaboration with the Planning and Legal divisions, the Real Estate Development Officer is responsible for managing efforts to redevelop BPDA owned vacant and underutilized properties into community supported end uses.
The Real Estate Division at the BPDA is responsible for managing a portfolio of over 11 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. As a collaborative member of the Real Estate team, the Real Estate Development Officer will focus on underutilized properties and is responsible for implementing strategies to shepherd them successfully into development as housing, economic development, or permanent open space.
GENERAL DUTIES AND RESPONSIBILITIES:
Disposition Research and Planning
Maintains systems to prioritize and track the disposition status of developable BPDA property
Creates detailed financial models to evaluate potential development scenarios on BPDA property
Evaluates potential revenue from future development and produces analytical tools to evaluate the long term potential budget impacts
Collaborates with the Planning team and community stakeholders to evaluate potential development options against existing zoning, neighborhood context, policy objectives and economic development priorities
Participates and leads public discussion and community meetings to engage the public and achieve consensus wherever possible on site-specific development priorities
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
Technical Real Estate Property Sales Execution
Authors 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
Orders and interprets appraisals of BPDA property as needed
Markets opportunities to purchase/lease BPDA property
Closely tracks the real estate market in Boston and applies this knowledge to advise strategic decision making and appropriately value BPDA property
Works closely with the BPDA’s Commercial Leasing team to establish appropriate land lease payments for properties going into development
Creates models and pro-formas to evaluate the financial feasibility on 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
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
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
Ensures that today’s development deals on BPDA property protect the long term fiscal health of the Agency
In addition to the tasks above, may perform other duties as assigned to advance development on BPDA owned land.
Work requires a Bachelor's degree in Business Administration, Real Estate, Public Administration or related field or equivalent, plus 2+ years directly relevant real estate development experience. Masters degree is preferred and may be used to substitute for required experience.
Understanding of Massachusetts General Law Chapter 30B governing the disposition of public real estate
Exceptional financial modeling skills and the demonstrated ability to build accurate conceptual real estate development pro-formas
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
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
Mostly office environment work with limited site visit responsibilities
Little or no exertion; may spend extended periods at desk. May need to travel between the three BPDA sites