Directs and analyzes the profitability of potential deals, work with third-party consultants to coordinate the due diligence and design process, and gathers and analyzes relevant market data.
SUPERVISION RECEIVED: Reports directly to the Vice President - Development
SUPERVISION EXERCISED: The Development Associate(s), Development Analyst(s), and Senior Design Associate
ESSENTIAL FUNCTIONS:
Analyze the financial feasibility of potential development projects as proposed by the VP – Development or the VP – Transactions by gathering and reviewing proformas and construction costs and relevant market data to create the appropriate product design and instigate the entitlement process as required by local jurisdiction.
Oversee third-party consultants involved in the due diligence process during the design and development stages of the project by providing specific direction to produce a design that maximizes the economic benefit of the developed property.
Direct members of the development team to guide the due diligence process in the acquisition of land for development including pursuit of appropriate entitlement to allow for the construction of the desired product.
Oversee and assist in managing the pre-construction and construction stages with the appropriate construction project manager to ensure that construction is completed on time and within the prescribed budget. Coordinate with the operations team to ensure construction schedule complements lease-up timeframes and requirements.
Prepare and distribute periodic development reports including monthly Job Cost Reports to senior members of the team. This will require budget review and coordination with accounting and construction.
Hire and train new staff and develop staff to maximize potential.
Supervise direct reporting staff in accordance to overall company policy.
Monitor staff performance including performance reviews and address performance problems through corrective action and dismissal.
Approve time records and requests for time off.
Assist direct reporting staff to address and resolve concerns or complaints involving job duties and job descriptions, performance standards, relations with coworkers, relations with supervisors and managers.
Perform other duties as assigned or as necessary.
Requirements PERFORMANCE REQUIREMENTS: Knowledge of organizational policies and procedures, fiscal management, and office management techniques. Ability to apply policies and procedures to solve everyday and/or complex company issues.
Ability to think conceptually and translate concepts into practical applications solutions and decisions. Ability to demonstrate and execute practical and effective solutions to problems. Must have a strong work ethic, integrity, and good business acumen. Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to apply concepts of basic algebra, geometry, and statistics.
Monitors and ensures compliance with regulatory requirements, federal, state, and local laws and organizational standards. Identifies and reports potential risk areas and supports the problem resolution.
Knowledge of fiscal management and office management techniques with strong skills regarding spreadsheets, word processing and database applications. Strong experience and demonstrated aptitude with MS Excel, and some experience with MS PowerPoint, and business intelligence tools. Ability to process computer data and to format and generate reports. Ability to create, compose, and edit written materials.
Builds effective teams, communicates objectives and expectations, and motivates consistent high performance in others. Ability to motivate, develop, and direct people as they work, identifying the best people for the job. Ability to apply the principles and practices of work leadership and management.
Excellent verbal and written communication skills. Ability to write reports, business correspondence, and procedure manuals. Ability to effectively present information to and respond to questions from management or team members. Ability to establish priorities and coordinate work activities.
Practices proper safety techniques in accordance with Company, community, and departmental policies, procedures, and standards, and immediately reports any mechanical or electrical equipment malfunctions, associate/resident/visitor injuries or accidents, or other safety issues to the appropriate individual(s).
TYPICAL PHYSICAL DEMANDS: Requires mobility sufficient to travel. Some bending, stooping and stretching. Occasionally lifting items weighing up to 30 lbs. Requires eye-hand coordination and manual dexterity sufficient to operate a keyboard, photocopier, telephone, calculator, and other office equipment. Requires normal range of hearing and eyesight to record, prepare, and communicate appropriate reports. Extensive data input and required ability to sit for long periods of time.
TYPICAL WORKING CONDITIONS: Normal office environment. Occasional evening or weekend work and travel.
EDUCATION AND EXPERIENCE:
Bachelor’s degree in Business, Accounting or Finance, related field; or equivalent combination of education and experience required.
MBA preferred but not required.
Minimum of eight years’ experience through a combination of financial modeling, capital budgeting and project planning experience, required.
Minimum of two years experience within the real estate industry.
Demonstrable experience with and knowledge of public approval processes related to real estate and development; could include entitlements, zoning and affordable housing.
Must have and maintain a valid driver’s license unless otherwise noted.
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