JAMES M. DRISCOLL
278 McKinley Place
Ridgewood, NJ 07450
908.413.1402jdriscoll5[at]optonline.net

HOMEBUILDING DIVISION PRESIDENT
Real Estate Development Strategic Planning Financial Management


Homebuilding Division President with a broad range of experience leading residential and mixed-use developers, including strategic planning, financial management, land acquisition, approvals, marketing / sales and operations. Results oriented, team leader with a track record of increasing revenues and maximizing returns through the use of innovative land acquisition strategies and complex financial structures. Proven success in identifying new markets, diversifying products and growing operations. Consistent focus on initiatives to drive productivity, reduce costs and further develop teams. Excels in dynamic, challenging environments while remaining pragmatic and focused.

CORE COMPETENCIES

Complex Financial StructuresRisk Mitigation Acquisition StrategiesBroad Product Knowledge
Managing Vision and PurposeOrganizational AgilityBuilding Effective Teams

PROFESSIONAL EXPERIENCE

K. HOVNANIAN HOMES, Edison, NJ1999 2009
A Fortune 500 publicly traded home builder with average annual revenues of $5B.
Division President2006 2009
Senior role in the company's strategic growth into high-density development, including the companys first luxury tower 77 Hudson, a 48-story luxury waterfront tower with projected revenues of $315MM.
President of homebuilding operations for the Hudson Valley Division, including Southern Connecticut, Northern New Jersey and Southern New York. Oversaw division with $500MM in assets under development and average annual revenues of $250 $300MM on 500+ deliveries.
Key Achievements
Directed and managed the delivery of over 1,000 mid-rise and high-rise condominiums in mixed-use developments located in Northern New Jersey with revenues totaling $750MM (khovmetroliving.com).
Developed the companys first luxury waterfront tower 77 Hudson, located across the Hudson River from NYCs Wall Street Financial District (77Hudson.com). 77 Hudson includes 420 condominiums, 30,000 sq. ft. of retail / restaurants and a 12-story parking structure in a 48-story glass tower. The site was acquired and co-developed with Equity Residential and incorporates an adjacent rental tower. 77 Hudson was financed utilizing an equity / commercial debt joint venture.
Established strategies to purchase distressed assets or project debt and strategies to partner with developers and / or banks to work-out communities under development.
2009 J. D. Power Home Builder Customer Satisfaction Award for Northern New Jersey.
Metro Area President 2002 2006
Instrumental in the companys strategic growth into high-density joint venture development which included developing Grandview at Riverwalk Port Imperial, a 300-home mid-rise condominium joint venture.
President of homebuilding operations for the Metro Area of the Northeast Region, including Northeast New Jersey and Southern New York. Oversaw homebuilding area with $300MM in assets under development and average yearly revenues of $100 125MM on 250+ deliveries.
Key Achievements
Led the land acquisition of over 1,200 condominium homes and 80,000 sq. ft. of retail / restaurants in Port Imperial, a mixed-use development across the Hudson River from NYC.

JAMES M. DRISCOLLPAGE TWO

K. HOVNANIAN HOMES (continued)
Led teams that developed, acted as general contractor and delivered the 300-home Grandview at Riverwalk Port Imperial condominium community achieving $50MM in joint venture profits and an unleveraged IRR in excess of 25% on $225MM in revenues.
Spearheaded the Metro Areas organic growth into Southern New York, including the land acquisition of 275 market-rate townhomes and over 1,000 age-restricted single-family, townhomes and garden homes in multiple locations.
Promoted diversification of the Metro Areas product mix through the creation of K. Hovnanians Classics, a collection of in-fill luxury single-family homes located in transit-oriented locations.
Senior Community Builder1999 2002
Overall P&L responsibility for single family and multifamily communities in the North Central Area of the Northeast Region.

ARCHSTONE, Englewood, CO 1998 1999
A National privately held rental property developer and operator with ownership in excess of 75,000 units and an average of 5,000 units under development.
Development Manager
Overall P&L responsibility for $90MM in rental property investments developed in Dallas, Texas, Denver, Colorado, and Salt Lake City, Utah. Oversaw the financial management, land acquisition, approvals, production and lease-up of over 1,200 multifamily units.

OCWEN FINANCIAL CORPORATION, West Palm Beach, FL1995 1998
A National publicly traded business process outsourcing provider to the financial services industry, specializing in loan servicing, mortgage fulfillment and receivables management services.
Senior Manager, Development and Construction Management
Overall P&L responsibility for $50MM in rental property investments developed in California, South Carolina, Tennessee and Texas. Oversaw the financial management, land acquisition, approvals, production and lease-up of over 1000 affordable rental housing units, including both multifamily and single family. Participated in syndication of low income housing tax credits (LIHTC Sec. 42) for developments while maintaining general partner role in rental property investments to ensure compliance.

DRISCOLL COMPANIES, Falls Church, VA1991 1995
A Washington, DC Area home builder that began operations in 1976 and during its 20 years delivered over 600 move-up and luxury town homes and single family homes.
Vice President Operations
Overall P&L responsibility of homebuilding operations, including financial management, land development, approvals, marketing / sales and production.

EDUCATION AND CREDENTIALS

Completed one year MBA, Concentrations in Real Estate and Finance, Robert H. Smith School of Business
University of Maryland, College Park, MD
Left MBA program to accept opportunity at Ocwen Financial Corporation
BS, Finance, Robert H. Smith School of Business, University of Maryland, College Park, MD
GPA 3.9/4.0, The Honor Society of Phi Kappa Phi

PROFESSIONAL AFFILIATIONS

Urban Land Institute, 2003 Present
National Association of Homebuilders, 1991 Present