Director of Real Estate

Overview

Under the supervision of the Chief of Staff, provide leadership and management of the BPDA's real estate portfolio of 13 million square feet of land and the associated Real Estate Division staff. This involves managing properties such as the Charlestown Navy Yard and the Raymond L. Flynn Marine Park and strategic property dispositions.

The Planning Department's real estate team manages, develops, acquires, and leases the BPDA's real estate with a focus on fiscal responsibility and community development. We treat our property like we live next door and strive to find ways to use our real estate to make the lives of Bostonians better. Our efforts fund the Planning Department's planning and economic development functions, while also supporting the mission to guide inclusive growth in our city.

The Director of Real Estate is responsible for ensuring the department's commitment to use public land for public good while also making fiscally responsible decisions on how to best deploy the BPDA's real estate assets to achieve both revenue and public policy goals. The Director of Real Estate oversees the five teams within the department: 1) Commercial Leasing, 2) Disposition and Strategy, 3) Operations and Administration, 4) Capital Construction, and 5) Coastal Resilience Delivery.

Responsibilities

The general duties and responsibilities of the position are included in, but not limited to, the information listed below.

Leadership:

• Provide executive leadership for all functions of the Real Estate Division by establishing strategic priorities, directing organizational performance, and ensuring alignment with the City's economic development and public policy objectives.
• Develop and execute the Department's long-term real estate strategy governing the acquisition, disposition, leasing, development, and stewardship of City-owned assets. 
• Supervise the Director of Engineering and Facilities Management, Deputy Directors and staff of Operations and Administration, Capital Construction, Disposition and Strategy, Commercial Leasing, and Coastal Resilience Delivery.
• Direct the development, administration, and oversight of operating and capital budgets, ensuring responsible stewardship of public resources and long-term financial sustainability. 
• Articulate the policy objectives of the City of Boston for BPDA property and advance these priorities.
• Coordinate with other City of Boston departments on department objectives related to Real Estate activities.
• Develop, recommend, and implement policies governing the management and strategic deployment of City-owned real estate assets. 
• Resolve staff managerial/administrative issues. Work with the HR Director on departmental HR issues. 

Real Estate Portfolio Management:

• Establish strategic priorities for maximizing the long-term public and financial value of the City's real estate portfolio. 
• Leverage the BPDA's real estate portfolio to achieve important public policy outcomes such as affordable housing creation, job creation, climate resilience, economic development, and increasing diversity and inclusion in Boston's real estate market.  
• Oversee the disposition and RFP process for BPDA properties.
• Lead efforts to acquire property in support of City of Boston policy objectives. 
• Oversee the planning and management of all BPDA projects and contracts from pre-development through completion of construction and subsequent operational management.
• Directly and through staff, administer the capital construction department's operating budget and project budget. Evaluate and recommend action on budgetary overruns.
• Ensure that all BPDA real estate assets and leases are accurately tracked and accounted for. 

Community Engagement:

• Represent the Planning Department before elected officials, community organizations, developers, regulatory agencies, and other public and private stakeholders regarding major real estate initiatives. 
• Advise executive leadership regarding strategies that promote economic development, industrial retention, neighborhood investment, and equitable use of public land. 
• Manage the integration and consolidation of interests of developers, neighborhood organizations, community, government, and other involved parties. Ensure the protection of organization and city interests in all projects.
• Participate in public discussion and community meetings to engage the public and achieve consensus wherever possible on real estate priorities and projects.
• Lead and approve complex, high-value negotiations involving leases, acquisitions, property dispositions, development agreements, and public-private partnerships. 

 

In addition to the tasks above, the Director of Real Estate may also perform other duties as assigned.

Minimum Entrance Qualifications

• Work requires a Bachelor's degree in Business Administration, Real Estate, Public Administration, or a related field or equivalent, plus eight or more (8+) years of directly relevant real estate development experience. A Master's degree is preferred and may be used to substitute for required experience.
• Values-driven leader that prioritizes diversity, inclusivity, and public good.
• Exceptional real estate finance 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 to lead cross-functional groups through complex work.
• Detail-oriented project management skills.
• Demonstrated ability to supervise, coach, and mentor assigned staff.
• Strong critical thinking to continuously review internal policies and procedures in order to improve upon and standardize processes.
• Understanding of Massachusetts General Law Chapter 30B governing the disposition of public real estate preferred.
• Understanding of Massachusetts laws related to procurement and contracting desirable.
• Must exercise discretion and sound judgment and be capable of handling confidential and highly sensitive information with professionalism and unquestionable integrity.

 

WORK ENVIRONMENT:

Office environment. 

PHYSICAL REQUIREMENTS:

Little or no exertion.

SCOPE:

Manage Real Estate Division staff of approximately 30 professionals. Manage approximately 7 Deputy Director or Senior positions directly.

 

BOSTON RESIDENCY REQUIRED

 

Terms:

Union/Salary Plan/Grade: Non-Union / ($140,000 - $160,000)

Hours per week: 35