DIRECTOR OF DEVELOPMENT
This position is closed. We often get positions like this so please apply!
Review and underwriting of the company’s Development Projects. Establishment and maintenance of relationships with developers in the company’s core markets. Familiarization with and reporting of market conditions and development opportunities in those markets. Maintenance of ongoing relationships with the company’s existing development partners. Presentation to Executive Committee and Board of Trustees for review and approval of said projects. Coordination with Asset Managers, Capital Projects Managers and Property Managers to assure compliance with underwriting and development goals. Direct Project Team, consisting of self and Development Manager for the project; to verify project budget and schedule and compliance with corporate standards. Follow-up on construction documents, permitting, construction and close out to assure compliance with approved schedule, specifications and budget.
- Evaluation and management of multiple developments on a regional basis with travel involved.
Origination of new development projects, including negotiation of contracts and development agreements. Obtain approval of contracts and agreements with Executive Vice President and Executive Committee.
Oversee the development of new apartment communities from inception through final project completion and closeout.
Due Diligence review and reporting.
Prepare Underwriting Presentation for Executive Committee review and verbal and written presentation to Underwriting Committee for approval. Prepare written presentation to Board of Trustees.
Prepare underwriting model for all assigned development projects.
Receive and analyze all costs, rent levels, unit mix, expenses, income assumptions, and market information provided by developer, create pro-forma budget and make recommendations to Developer and the company regarding same.
Direct Development Manager in preparation of final project underwriting budget and schedule. Involve Development Manager at inception of process to assure timely flow of information
Complete critical path schedules with assistance of the developer and Development Manager.
Hold regular Team Meetings with Development Manager, Developer’s key personnel and consultants on the development’s progress and recommend necessary changes.
Report regularly, verbally and in writing on progress of projects.
Represents the corporation in a professional manner at all times. Consistently maintains a professional courteous attitude when dealing with residents, coworkers and the general public.
Performs other duties as necessary.
Job Qualification Requirements:
- Bachelors Degree in Real Estate, Finance, or Design Disciplines such as Architecture or Urban Planning, or 7-10 years of new development project management experience required.
- Machines, Tools and Equipment, Software:
- Computer with Internet and e-mail capabilities, Telephone, Facsimile, Photocopier, Vehicle. Spreadsheet, including Microsoft Excel, word processing, including Microsoft Word, Outlook, various scheduling software, including Microsoft Project.
- Valid drivers’ license and good driving record along with auto insurance required.