Senior Vice President Transit Oriented Development

Job ID: 8699

Business Unit: MTA Construction & Development

Location: New York, NY, United States

Regular/Temporary: Regular

Department: Transit Oriented Development

Date Posted: Aug 31, 2024

Description

This position is eligible for telework , which is currently one day per week. New hires are eligible to apply 30 days after their effective date of hire.

JOB TITLE:

Senior Vice President, Transit Oriented Development

AGENCY:

Construction & Development

DEPT/DIV:

Planning/Transit Oriented Development

REPORTS TO:

Deputy Chief Development Planning

WORK LOCATION:

2 Broadway

HOURS OF WORK:

9:00 AM to 5:30 P M or as required (7.5HR/ DAY )

HAY POINTS:

1628

SALARY RANGE:

$ 168,307 to $ 220,903

DEADLINE:

Open Until Filled

S ummary

The Transit-Oriented Development (TOD) team partners with the public and private sectors to promote smart growth and maximize the value of the area directly around our properties. TOD generates revenue through the sale of MTA-owned land or air rights but also seeks to locate primary trip-generating uses such as commercial offices, residences, or mixed-use developments near transit.

TOD has a critical mission within the MTA and the New York region – to create value from MTA- and other State-owned real estate assets and to ensure that MTA capital and operational investments support smart growth across the region. The TOD executive is responsible for a range of tactics to support these strategies through management of the TOD Planning and Transactions teams and interactions with agency executives and those of MTA operating agencies and Headquarters.

The Senior Vice President of Transit Oriented Development (TOD) leads a 20-person TOD Department within MTA Construction & Development, reporting to the Deputy Chief Development Officer of Planning with a dotted line to the President.

Responsibilities

Oversee overall activities of the TOD department, including planning, transactions, and program management.

Articulate and implement a vision for Transit-Oriented Development in the region .

Develop an overall strategy for the beneficial use of MTA ' s tangible property assets that may be suited to redevelopment or joint development and implement that strategy for individual properties and projects, including through assemblage and disposition of MTA-owned properties and air rights, ranging from West Side Yard to commuter parking lots across the region.

Develop and implement strategies to coordinate capital investment with real estate development, including through current and future system expansion projects such as the Second Avenue Subway Phase 2 and the Interborough Express project.

Conceptualize and respond to developer proposals for zoning bonus projects, from initial planning and design to negotiation of agreements through managing implementation of developer-constructed station improvements.

Pursue innovative real estate and land use planning strategies to advance transit goals , including value capture, joint development, cost avoidance, and privately constructed transit access improvements .

Develop asset dispositions that generate revenue and provide physical transit improvements.

Target TOD opportunities and projects and develop integrated marketing, planning, and real estate strategies.

Advise MTA Construction and Development on real estate and development aspects of long-range planning projects.

Negotiate with real estate developers , including business issues, risk allocation, protecting agency priorities and needs, and preserving future opportunities and interests.

Coordinate with External Partners Program developer constructed station entrance improvements, including overseeing monthly coordination meetings and identifying and resolving business issues that arise during negotiation, designing, and implementing these improvements.

Identify and pursue opportunities to expand the application of zoning mandates and incentives to a more significant portion of the system.

Coordinate with local and state planning and economic development agencies to ensure compatible land use and development.

Increase system-wide planning for TOD, assessing opportunities at each station site , including:

I dentifying market opportunities, developable land, and opportunities for assemblages with adjoining owners .

S trategi z e to support financing , including identifying revenue sources , governmental sources , approaches to bonding against these revenue sources, and ways to increase system ridership .

P artner ing with localities for station area planning and improvements, including station area circulation principles (including feeder services) .

Pursuant to Executive Order 30, maintain an inventory of properties suitable for TOD near rail lines and stations, including opportunities for assemblage, developing criteria for prioritizing amongst possible sites to ensure the best utilization of resources.

Identify real estate opportunities to benefit MTA services , such as accessibility and access improvements, and enhance the station's " front door " experience.

Develop strategies to foster improved first —and last-mile access for suburban stations. Foster implementation of local " first/last mile " solutions and " shared use " parking to reduce the need for the MTA to invest in parking facilities. Update and foster the use of the FMLM Tool Kit of best practices to provide municipalities with tools to develop plans and assist in station access, rezoning, or redevelopment plans.

Identify real estate asset sale opportunities, prepare RFPs and procedures in accordance with the Public Authorities Accountability Act (PAAA), and negotiate and structure business transactions.

Based on guidance from Capital Programs and regularly consulting with MTA operating agencies and their legal, engineering, planning, and operations staff , ensure that capital investments and operations maximize opportunities to generate ancillary revenues or avoid costs.

Working with MTA Finance, securitize rental payments from various long-term agreements, such as the redevelopment of MTA ' s former HQ, 343 Madison Avenue, to generate near-term capital revenues.

Education and Experience

A Bachelor ' s Degree in Architecture, Business Administration, Public Administration, Real Estate, Planning , Urban Planning, or a related

Masters Degree preferred.

A minimum of twenty (20) years of experience in one of the real estate areas (particularly real estate development and transactions) is required.

Must have a minimum of at least twelve (12) years in a leadership role in real estate development, planning , or a related field .

K nowledge of public land use entitlement procedures , including zoning and environmental review, financial pro forma analysis, familiarity with construction methods, and understanding of public policies concerning land use and transportation is required.

Demonstrated experience in real estate transaction management (acquisition and dispositions), ideally with a high level of complexity, is strongly preferred.

Detailed knowledge and a thorough understanding of the MTA operating agency are preferred.

Exceptional organizational skills.

Familiarity with typical real estate transaction documentation, with demonstrable ability to analyze, comment, interpret, negotiate, and draft complex real estate documents with Legal support.

Ability to present information and recommendations clearly and accurately, verbally and in writing.

Detail-oriented, with exceptional time management, problem-solving , and strategic thinking capabilities.

Self-starter who can develop and administer work plans involving extensive and complex interrelated processes and a person who can operate under stringent time constraints.

Adaptability, tact, diplomacy , and persuasiveness are also essential skills.

A working knowledge of Microsoft Word, PowerPoint, and Excel programs.

Knowledge of real estate development, zoning, financing, and environmental laws and familiarity with maps, blueprints, surveys, zoning ordinances, and building codes.

General knowledge of construction principles and cost estimating is preferred.

Ability to create and analyze cash flows and other financial calculations pertinent to real estate.

K nowledge of Microsoft Word, PowerPoint, and Excel programs or other applications suitable to execute the functions of this role.

Other Information

Pursuant to the New York State Public Officers Law & the MTA Code of Ethics, all employees who hold a policymaking position must file an Annual Statement of Financial Disclosure (FDS) with the NYS Commission on Ethics and Lobbying in Government (the " Commission " ).

Selection Criteria

Based on evaluation of education, skills, experience, and interview.

How to Apply

MTA employees must apply via My MTA Portal. You can submit an online application by logging into My MTA Portal, clicking the My Job Search ribbon, and selecting the " Careers " link. Logging in through My MTA Portal will link your BSC ID number to your job application to identify you as an internal applicant.

Equal Employment Opportunity

MTA and its subsidiary and affiliated agencies are equal opportunity employers, including those with respect to veteran status and individuals with disabilities.

The MTA encourages qualified applicants from diverse backgrounds, experiences, and abilities, including military service members, to apply .