Reporting to the Vice President of Development, the Director of Development is responsible for managing multiple real estate development and/or redevelopment projects. Above all, the Director of Development is responsible and accountable for bottom line results for each assigned project.
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What you will be doing:
Manage multiple real estate development and/or redevelopment projects. Responsible and accountable for bottom line results for each assigned project.
Research land acquisition potentials and coordinate with acquisition team.
During Pre-Acquisition coordinate all underwriting aspects and build project proforma: market research, municipal fees, site constraints, development budget, development schedule, construction budget, construction schedule, operating budget, and financial assumptions.
Gain entitlements for development projects through governmental agencies, formulate strategies, and direct internal and external development teams as needed.
Make public presentations when necessary, serving as the public spokesman for the firm's development business.
Using internal and external resources, perform all pre-development activities including feasibility, design, layout and entitlement, permitting and due diligence. With senior management and consultant team determine and program the scope, quality and design of projects.
Work with senior management on the final development agreements and any easement agreements that need to be obtained.
Coordinate with the finance team on any loan requirements throughout the process, including any HUD loans.
Complete inspections and review legal documents related to property acquisitions including purchasing agreements, title and survey, government agreements and closing exhibits.
After acquisition, execute and fine tune business plan (process entitlements and position for joint venture or sale; process entitlement and perform vertical construction). Develop and refine plans, designs, costs estimates, permitting and project timelines during the pre-construction period.
Coordinate with construction throughout pre-development and into construction to verify a smooth project transition, and ensure that all development agreements and assumptions are maintained. Verify construction costs throughout to minimize plan changes.
Facilitate correspondence between construction and the design team.
Coordinate with Operations and Asset Management on operating budget assumptions, including rents and concessions, and lease-up schedule throughout the lease-up process to verify accuracy of the underwriting assumptions.
Create a schedule that maintains an even flow of construction delivery, construction draws, and operations lease-up.
Conduct weekly coordination meetings between construction and operations to keep the project on track and address any issues that arise.
Update and track all proforma/budget changes throughout the project and maintain monthly updates to senior management from acquisition through project completion.
Responsible for maintaining and acquiring all documents for final project close-out, including keeping track of all outstanding Letters of Credits or bonds that needed to be posted.
Develop and maintain relationships with land and property owners, developers, civic and community groups and government agencies, which are conducive to originating, supporting or processing new opportunities.
Accountable for bottom line and execution results.
Attends work as scheduled to support the ongoing success of the company
Other duties, responsibilities and special projects as assigned.
Skills we’re seeking:
Bachelor’s degree required, Graduate degree in Business, Finance or Real Estate highly preferred.
10+ years of experience in multi-family development
Strong analytical skills and able to multi-task in a constantly changing environment
Strong verbal, written and interpersonal communication skills
Well-rounded functional background including finance, acquisitions, development, marketing, construction and management
Proven negotiating and influencing skills
Experience in and in-depth knowledge of targeted local markets for position
Strong knowledge of Windows Software suite (Word, Excel, PowerPoint).
Strong leadership and the ability to develop relationships with clients and colleagues
Ability to manage multiple projects and work well under time and other constraints
Strong analytical skills and a drive for measurable results
Strong verbal, written and interpersonal communication skills
Dependable judgment and impeccable integrity
Proven negotiation and influencing skills
Qualifications
Skills
Required
Analytical Novice
Behaviors
Required
Thought Provoking: Capable of making others think deeply on a subject
Innovative: Consistently introduces new ideas and demonstrates original thinking
Detail Oriented: Capable of carrying out a given task with all details necessary to get the task done well
Motivations
Required
Ability to Make an Impact: Inspired to perform well by the ability to contribute to the success of a project or the organization
Flexibility: Inspired to perform well when granted the ability to set your own schedule and goals
Entrepreneurial Spirit: Inspired to perform well by an ability to drive new ventures within the business
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