Velocity Venture Partners | Director of Development | bala-cynwyd, pa
6 days ago
Velocity Venture Partners is a Philadelphia-based real estate private equity firm that specializes in the acquisition and management of opportunistic industrial and flex assets in the Greater Northeast region of the United States. Founded in 2017, Velocity brings an institutional approach to their investment strategy, focusing on middle-and upper-middle market B & C Industrial/Flex-product primarily located in the SEPA/SNJ markets. Both Founders were born and raised in Velocity’s core markets – bringing a rare local point of view that is crucial to the firm’s strategy.
Velocity evaluates industrial and flex investment opportunities critical to e-commerce, fulfillment, manufacturing, and production processes throughout the Greater Northeast. Velocity has built and maintained a vast network of debt and equity relationships, streamlining the internal funding process for each new acquisition. In addition, the firm’s size and nimble approach enables quicker actions and decision making compared to competitors – ranging from acquisitions to leasing to capex and cosmetic work on newly acquired assets.
As a fully integrated firm – with internal infrastructure ranging from construction to property management – Velocity delivers an unmatched approach to strategic industrial acquisitions and asset management. The firm currently owns and manages over 9 million square feet of industrial space in the Greater Northeast region.
Responsibilities include:
- Directly responsible for companies Land Development, Entitlement and Land Use requirements including but not limited to building expansions, use variances for both property and Tenant.
- Provide Partners external partners with development and construction timelines and budgets.
- Review land use and zoning ordinances for current or prospective acquisitions. Identify approved uses and waivers or variances necessary for prospective developments in conjunction with land-use counsel.
- Direct, Manage and execute all aspects of development and land entitlements including planning, engineering approvals, and building approvals utilizing outside professionals, as necessary.
- Coordinate and negotiate all Contracts with applicable professionals for use in the development, land development and permitting process.
- Work with Civil, Traffic, Environmental and Geotechnical engineers in the preparation of plans and reports necessary for development and entitlements.
- Work with all utility companies to secure or expand the necessary utility services for the Development projects and or Tenant requirements.
- Work in conjunction with in-house or outside counsel to prepare land-use, variance, zoning applications and settlement agreements.
- Communicate with all levels of the Company including Tenants, Attorneys, Contractors, Municipalities, and State Agencies.
- Attend land use hearings as necessary and represent the Company in person, as necessary.
- Manage day-to-day activity of development projects.
- Perform Due Diligence, feasibility studies and budgets.
- Coordinate construction activities on various projects, coordinate public utilities and governmental agencies for installation and construction.
- Preparation of development and construction cost budgets.
- Negotiate construction contracts.
- Manage tenant coordination with construction and property managers.
- Review tenant plans and work letters.
- Participate in land development field operations, construction administration process and project planning.
- Monitor and manage the land development budget activities.
- Monitor all construction activities for vertical construction and site work including off-site improvements.
Qualities of an Exceptional Candidate:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.
- Valid, unrestricted driver’s license and a good driving record required.
- Ability to read, understand and evaluate civil engineering/development plans, traffic impact studies, environmental studies & land planning reports.
- Must be able to review and summarize the various zoning codes where we have property. and determine if our application is by-right or requires variances and waivers.
- Excellent written, oral, organizational and math skills.
- Must possess a professional attitude to represent the company in a positive manner.
- Ability to perform, in a professional manner, multiple detail-oriented tasks with simultaneous deadlines.
- Computer literacy with ability to work with Microsoft Office and Yardi.
- Excellent project management skills.
Experience:
- Minimum of 5-7 years in land development and entitlements including tenant specific use variances.
- Extensive experience in land use and development.
Benefits:
- Competitive pay, including annual incentive bonus.
- Paid holidays and vacation.
- Access to 401k, medical, vision, and dental insurance, with company contribution.
- Collegial and casual work environment.
- Direct real estate equity investment opportunities in Company projects.
Disclaimer: This represents a broad overview of the Director of Leasing position and is not intended to be an all-inclusive job description, but a highlight of key functions and expectations.
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