VP of Land

Company: Ashton Woods Homes
Location: Dallas
Posted on: October 20, 2024

Job Description:

Critical member of division leadership team responsible for providing the division with undeveloped land and finished lots enabling it to accomplish its sales, settlements, profitability and growth targets as established in the division strategic plan. Work with the management team to ensure our sales, marketing and construction requirements are met on each deal.Manager must be able to identify land that comports with the strategic plan and be able to coordinate the acquisition, zoning and development processes.Manager must be able to negotiate price and terms of property acquisitions to ensure the division has a competitive edge in our respective target sub-markets. Land needs to be acquired on terms that meet or exceed our financial requirements.Manager needs to be able to manage zoning attorneys, our real estate attorney, developers (both in-house and outside) and local regulatory agencies in order to ensure that the division's risks are eliminated or mitigated.Identify opportunities for the division to buy and "flip" land at a profit for the division. Manage any lot or land sale functions within the division.Major Functional Responsibilities:

• -Residential real estate laws and zoning regulations
• -Contract language and the ability to identify critical deal points
• -Broker networking
• -Supply/demand analysis and demographic mapping
• -Local residential housing markets
• -Basic land development process
• -Basic financial analysis and proforma creation.
• -Deal structures: option contracts, mezzanine financing, joint ventures, assemblages and land banking.
• -Topographical effects on development
• -Basic sales and marketing functionsSupplying the division with its land needs:
  • Participate in the creation of the division strategic land acquisition planning process. Help guide the process to competitive acquisition targets that although rare, are possible to find. -
  • Identify and submit to the Division Manager enough suitable deals in accordance withour strategic plan, in order to achieve our financial objectives. Ensure that the land pieces submitted are strategically driven taking into consideration price points, competition, targeted customer profiles and supply/demand analysis. -
  • Actively look for niche land positions requiring direct contracting from owners, to include assemblage opportunities and joint venture scenarios. -
  • Develop extension broker connections so that we are seeing a large number of new deals early in the selling process.
  • Develop good contracts with the local developer community to provide the division with option deals in good subdivisions at competitive prices. -Getting targeted land to the building operation:
    • Initiate the contract process, review all contract changes, oversee our attorney reviews and negotiations, identify major contractual risks (and their concurrent obligations) and ensure all our major deal point issues are addressed in each transaction. Items that do not meet the ideal need to be clearly identified as issues to the division management team. Ensure that all contracts allow the division the time to perform in-depth due diligence prior to any non-refundable deposits going "hard".
    • Manage the land feasibility package creation process. Assemble the corporate land acquisition study book for each land deal and insure that it is submitted at least two weeks prior to any earnest money "hard date". Ensure that the division conducts a thorough and complete due diligence on the target property (see attached land acquisition submission format).
    • Manage the zoning and permitting processes. Ensure that we get the best possible density and conditions from the process - ensure our contracts are linked to these results.
    • Manage our market knowledge and sub-market analysis projects to ensure that we have current data on land prices, lot prices, absorption, selling times, schools, road improvements, utilities, sewer, job centers, competition, municipal requirements and other data needed to develop and refine our strategic land acquisition objectives.
    • Ensure that we budget for and control our land acquisition budget to include due diligence and research.
    • Manage the land acquisition department; ensure that it is competently staffed and functional. Identify land opportunities, which do not satisfy the division's objectives, but have potential profit opportunities through the resale process.
    • Manage the sale of division assets as required.
    • Advise Division President on opportunities, market trends and competition.
    • Additional Administrative Requirements:
    • Conduct weekly land status report meeting with Division President
    • Submit monthly corporate land acquisition reports
      • -Monitor division take-down requirements on all deals and ensure that we comport with our contracts so as to protect our positions, contract rights and earnest money.Position Requirements:
        • -Bachelor's degree in business, real estate, finance or related field required.
        • -Master's degree in business, finance, real estate or related field highly desirable.
        • -Five years' experience in land acquisition, divestiture and development preferred.
        • -High drive individual with demonstrable track record of independent achievement.
        • -Realtor or Broker's license desirable but not required.
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Keywords: Ashton Woods Homes, Waco , VP of Land, Executive , Dallas, Texas