DEPARTMENT: REAL ESTATE SERVICES
REPORTS TO: SVP, REAL ESTATE SERVICES
Philadelphia Industrial Development Corporation (PIDC) is Philadelphia’s public-private economic development corporation. Founded in 1958 as a private, non-profit partnership between the City of Philadelphia and the Chamber of Commerce for Greater Philadelphia, our mission is to spur investment, support business growth, and foster developments that create jobs, revitalize neighborhoods and drive growth to every corner of Philadelphia. We offer flexible financing tools, a targeted portfolio of industrial and commercial real estate, and decades of Philadelphia-based knowledge to help our clients invest, develop and grow. PIDC works with companies of all sizes in every area of Philadelphia. We work on projects big and small with businesses, developers and non-profits in every sector.
Over the past 62 years, PIDC has settled over 7,500 transactions with a diverse range of clients – including more than $17 billion of financing and more than 3,200 acres of land sales – which have leveraged over $30 billion in total investment and assisted in retaining and creating hundreds of thousands of jobs in Philadelphia.
In 2013, at the conclusion of a two-year master planning effort, PIDC released the Lower Schuylkill Master Plan a guide for redeveloping a 3,700-acre underperforming industrial district in Southwest Philadelphia. Since its release PIDC’s Real Estate Services group has been focused on a repositioning a portion of the Lower Schuylkill known as the Innovation District, located immediately south of University City into a campus to support the burgeoning life cell & gene therapy sector rapidly developing in the institutional research centers to the north. Learn more about the Lower Schuylkill Master Plan.
PIDC’s Real Estate Services group provides a range of services, including (1) management and marketing of 200+ acres of industrially-zoned development sites, (2) development and implementation of strategic real estate initiatives, and (3) redevelopment planning, marketing and sale of key public real estate assets for the City of Philadelphia. PIDC is seeking a dedicated, versatile, and detail-oriented professional to fill a Vice President role to deliver and expand these services. Reporting to PIDC’s Senior Vice President for Real Estate Services, this individual will primarily focus on leading PIDC’s efforts to reposition the Lower Schuylkill River into a vibrant modern industrial district centered around life sciences manufacturing with an emphasis on the rapidly expanding cell & gene therapy sector. Specific responsibilities include but are not limited to:
Business Development & Transaction Management
- Source, plan, structure, negotiate, and execute real estate transactions (primarily sales and acquisitions, but could also include ground leases) throughout Philadelphia with a strong focus on attracting private life science investment and development to the Innovation District of the Lower Schuylkill River.
- Manage marketing efforts, including public solicitations (Requests for Qualifications and Request for Proposals) intended to secure real estate developers or life sciences companies to occupy development sites.
- Perform financial analyses to support the development of specific sites, including financial analyses related to property values, rents, taxes, construction costs, transportation, environmental conditions, and zoning.
- Work with internal and external partners to structure public incentives and PIDC financing packages for Lower Schuylkill development projects.
- Engage directly with prospects, real estate brokers, and economic development partners to generate new contacts and leads and to showcase the Lower Schuylkill to produce a high-quality pipeline of development transactions.
- Represent PIDC with the real estate professionals, developer, and brokerage communities at relevant networking and educational events, partnerships, and initiatives.
- Lead tours of the Lower Schuylkill and conduct presentations for a variety of prospects, brokers, partners, stakeholders, and other groups.
- Develop and execute strategic business development plans to market PIDC’s real estate portfolio and produce a pipeline of leads.
- Work in partnership with public and private stakeholders to develop and implement broad business attraction strategies for life sciences the City of Philadelphia generally, and the Lower Schuylkill, specifically.
- Use data to track leads and evaluate the success of outreach and business development tactics and adjust strategies accordingly.
- Manage efforts to determine sites’ development potential; identify obstacles to development and determine the work and costs to address identified obstacles.
- Identify and secure professional service firms as necessary to develop site and area plans and implement improvements needed to secure investment, with a focus on maximizing the participation of minority- and women-owned businesses.
- Secure funding to complete any site and off-site improvements needed to attract private investment and development.
- Monitor life science market conditions and trends; development proposals; emerging research; and best practices in other markets to identify opportunities for Philadelphia and the Lower Schuylkill River.
- Oversee and provide leadership to PIDC staff on initiatives that are needed to advance Philadelphia’s position as a preferred location for investment and development, including:
- analysis of internal and external data to support commercial & industrial projects;
- creation of materials needed to communicate with various audiences about projects or initiatives;
- development and execution of funding strategies for key economic development initiatives; and
- development of metrics to illustrate outcomes and impacts of projects or initiatives
- Manage external consultants and engage stakeholders to support research and strategy development. Develop workplans and ensure that deadlines and deliverables are met.
- Coordinate with partners at the City of Philadelphia, the Chamber of Commerce of Greater Philadelphia, and institutions on key projects and initiatives.
Community Engagement & Coordination
- Cultivate and maintain relationships with community groups, stakeholders and relevant institutions to assess issues of local concern (e.g., traffic, employment opportunities) to ensure support for industrial and commercial development projects.
- Identify goals shared by both the neighboring community and the planned industrial and commercial development where PIDC can attract or deploy resources, as appropriate, to help propel both forward.
- Other duties as assigned and as development activity warrants.
- 7+ years of experience in real estate or a directly related field (e.g., planning, law, finance).
- Undergraduate degree in business or liberal arts required with coursework finance, economics, real estate, business administration, or a related field (BA or BS degree); an advanced degree (MS, JD, MPA or MBA) from an accredited college or university is strongly preferred.
- Experience with Microsoft Outlook, Word, Excel, and PowerPoint.
- Previous experience in economic development, real estate planning & development, or law.
- Ability to work independently to generate new leads and business relationships, as well as to work productively and communicate effectively as part of a team.
- Sharp organizational skills, project management experience, ability to handle multiple projects simultaneously, prioritize independently, meet deadlines, and produce results with limited resources.
- Strong interpersonal and written communication skills.
- Strong sense of judgment and ability to solve problems creatively, while acting with diplomacy, poise, and tact.
- Demonstrated ability to build and maintain mutually beneficial relationships and partnerships in the public and private sectors.
- Demonstrated experience working with diverse constituencies.
- Commitment to, and enthusiasm for, PIDC’s mission to attract investment, jobs, business growth, and development to help improve the quality of life in Philadelphia.
- Interest in being part of an entrepreneurial and energetic team.
- Philadelphia resident at the time of hire or relocation and continued residency within six (6) months is required.
- A valid driver’s license.
Interested applicants should submit a thoughtful cover letter and resume along with annual salary requirements by no later than Friday, April 24, 2020 to the contact information below.
PIDC promotes a culture of inclusion and does not discriminate on the basis of race, color, sex,
sexual orientation, religion, national or ethnic origin, age, disability, veteran status or any other
legally protected factor.