The Virginia Tech Foundation, Inc. (Foundation) was established in 1948 to receive, manage, and disburse private gifts in support of Virginia Tech programs. The Foundation is a 501(c)(3) nonprofit corporation governed by its board of directors. The Foundation serves the university by generating funding from private sources and aggressively managing its assets to provide funding which supplements state appropriations. The Foundation provides additional operating support to colleges and departments, assists in the funding of major building projects, and provides seed capital for new university initiatives.
Reporting to the Chief Executive Officer, the position serves as an integral member of the Foundation’s leadership team. This position drives economic development by identifying and exploring the real estate and development opportunities and manages all aspects on the foundation's behalf. Identifies and pursues new business opportunities to maximize land utilization and generate new revenue. Works through interdisciplinary teams to conduct and evaluate feasibility studies.
• Manages all aspects of the real estate development function on behalf of the Foundation.
• Builds and leads the integrated strategic process for developing Foundation real estate ventures.
• Oversees all aspects and phases of real estate management, analysis, negotiation, development, contracts, and partnership agreements, including all aspects of leasing, sale, and property management.
• Provide leadership on all major real estate acquisitions and developments, including interfacing with the University on joint capital projects.
• Responsible for planning, evaluating, budgeting, and implementing the real estate ventures of the Foundation in compliance with applicable internal and external policies, procedures, and approval processes.
• Responsible for managing and implementing multi-phase, mixed-use development, starting with pre-development, entitlements, due diligence, architectural building design, site engineering, permitting, legal, documentation, and financing.
• Explores, identifies and implements a business strategy for the development of all sites.
• Leads the process for developing market strategy, location, site selection, lease negotiation, site design, and construction.
• Develops specific financial and business plans for each project, including marketing goals, cash flow requirements, project proforma, and comprehensive pursuit budget estimates.
• Leads and coordinates the internal and external team, including finance, operations, legal, procurement, design and construction, professional consultants, business consultants, contractors, leasing, community stakeholders, and government authorities.
• Identifies and engages developers and businesses interested in establishing a presence on sites throughout the Foundation’s real estate holdings.
• Creates proposals and makes presentations to potential business partners.
• Leads the process for marketing, competing, and awarding business development opportunities for the Foundation’s property within the guidelines of the Foundation’s procurement regulations.
• Assist in the oversight of day-to-day activities in implementing all aspects of the development of projects from initial design through completion.
• Negotiates terms and agreements for contracts and leases.
• Accountable for the financial performance of all owned, managed and leased properties.
• Represents the Foundation at networking and business events.
• Initiates and maintains strong and productive client relationship management strategies and tactics.
• Maintains a strong presence in the community and participates in networking opportunities to grow the Foundation’s business.
• Meets with community leaders and other potential referral sources such as the Chamber of Commerce.
• Functions as the subject matter expert for real property and can develop and maintain a comprehensive Capital Needs Assessment (“CNA”) Program that includes the inventory, condition, maintenance/capital needs, and disposition of all real property in coordination with the Foundation’s expectations.
• Prepares or reviews written materials, including business justifications. Prepares and presents formal progress/strategic/market briefings and presentations to The Foundation’s leadership and Board of Directors.
• Complete other assignments as assigned by the CEO.
• Bachelor’s degree required in business or business-related field; real estate preferred.
• Minimum of 5 years of real estate development experience
• Experience in commercial development required
• Experience with managing the entire cycle of the physical vertical development process, including entitlements, design, marketing, financing, and construction matters for projects of institutional size and quality
• Must be highly credible and trustworthy and operate with a high degree of integrity
• Must hold oneself and others accountable and strive for a high level of excellence
A competitive salary and benefits package will be offered.