Fane Tower is Moving Forward — Here’s Some Proof
Friday, September 17, 2021
The Fane Organization this week posted a job opening for a real estate development manager in Providence. Image: Fane Organization
This week, developer Jason Fane posted a job for a real estate development manager in Rhode Island for someone "familiar with all phases of development of major high-rise residential buildings" -- and "at least 20 years’ experience in major real estate residential development."
According to Fane Tower spokesperson Jim Malachowski on Friday, the project is moving fully ahead.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST"They had a test borings done in the spring — there are engineers and architects currently working on all aspects of the project. They have a second round of drawings submitted to [the 195 Commission]," he said.
SEE JOB DESCRIPTION BELOW
It marks the latest development since Fane proposed building a skyscraper in Providence -- nearly 5 years ago, in December 2016.
As GoLocal wrote in January 2021, it was unclear if Fane was going to move forward with the project.
The $300 million proposed development was slow in working its way through Rhode Island and Providence’s overlapping, redundant, and complex regulatory structure, with opposition from neighbors and the Providence Preservation Society.
Fane did have the support of laborers -- and Friedrich St.Florian, the famed architect of the World War II Memorial in Washington, D.C.
The only functional obstacle to the project was Fane himself -- would he pull the trigger after nearing half a decade making his case?
Malachowski said that while there a no other regulatory hurdles for Fane, there is a zoning appeal currently before the Rhode Island Supreme Court.
"He’s not letting that stop him. He's spending money and working hard on the next phases," said Malachowski of Fane. "Once they go through this next round of drawings, they'll look to see where there can be efficiencies and improvements. "They're not putting a definitive time frame as to when they'll break ground, but it's full steam ahead.
Development Manager Position
The following was posted for the position at Fane on LinkedIn:
Experienced high-rise apartment Development Manager for family-owned real estate office, in business since 1935, to lead an iconic new development in Providence, Rhode Island. Role includes, overseeing design, managing consultants and financing, managing the project through construction and lease-up.
The successful candidate:
· Has excellent project management skills
· Is a team-player who builds morale
· Takes and completes a wide range of responsibilities
· Has excellent verbal and written communication skills
· Exemplifies high integrity with proven track record
· Has good interpersonal skills
· Is extremely detail-oriented, punctual, and able to track multiple tasks successfully
Specific job responsibilities include:
Development & Construction
· Work with ownership on all aspects of the development project
· Prepare and monitor the project schedule, budget and pro forma
· Completes project on budget, on time and on quality
· Assist in overseeing the consulting teams
· Oversee the construction manager and monitor the development on-site
· Interface with the pre-construction and construction manager during the design,
construction documents preparation and construction process
· Coordinate securing all permits and signoffs
Finance & Accounting
· Oversee the construction loan administration to enable a smooth draw process and
compliance with loan terms
· Oversee finance and accounting
Market Assessment, Marketing & Operations
· Oversee market analysis and help define marketing strategy and lease-up
· Assist in the selection of leasing, property management and marketing team
· Coordinate the efforts of the property manager and lease-up team, conduct weekly meetings
· Oversee the marketing team and monitor results
Required Knowledge and Experience
1. Familiar with all phases of development of major high-rise residential buildings
2. At least 20 years’ experience in major real estate residential development
3. Professional degree in at least one or more or (license preferred): architecture, engineering,
accounting, law
4. Meaningful experience in Providence and/or Boston – a plus
5. Agile with MS Excel and MS Project
Compensation
Competitive base salary, bonus structure and benefits
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