Director of Multifamily Development

Role

The Texas Director of Multifamily Development will play a pivotal role in leading and managing our development projects from inception to completion. The primary responsibility is to provide support to the principals in the cultivation and execution of the divisional pipeline, including assisting with the pursuit of new development, market research, site acquisition, due diligence, managing the design process, and zoning. This position also works with the construction manager and the general contractor through the execution and delivery of each project as well as the property management team during lease-up and through stabilization. This strategic and hands-on position requires a strong understanding of the multifamily real estate industry, excellent project management skills, and the ability to drive results.

Responsibilities

Daily responsibilities include, but are not limited to:

• The Development Director's primary responsibility is to provide support to the principals in the cultivation and execution of the divisional pipeline, including assisting with the pursuit of new development, market research, site acquisition, due diligence, managing the design process, financing, and zoning
• Leading development of multifamily deals through the full development life cycle
• Ensuring all necessary due diligence is completed in a timely manner to support project entitlements and development.
• This position also works with the construction manager and the 3rd party general contractor through the execution and delivery of each project as well as the property management team during lease-up and through stabilization.
• Assists in the pursuit of new development, including site sourcing, market analysis, financial feasibility, preliminary due diligence, and capital sourcing.
• Conduct financial analysis, including cash flow projections, pro forma modeling, entitlement risk and investment analysis to assess project viability and return on investment.
• Participate in routine Investment Committee meetings that focus on proposed development projects and reviewing and providing updates on projects under pursuit, under construction and under lease-up.
• Negotiate or assist in the negotiation of complex legal instruments including contracts, easements, term sheets, loan documents, joint venture agreements, municipal agreements, joint development agreements, etc.
• Manage the pre-entitlement process by maintaining accurate pursuit cost forecasting and reporting and implement and execute programs and processes to ensure pro-forma development budgets, underwriting, schedules, quality, and standards are met and completed in accordance with adopted Company policies.
• Leads the programming, product positioning and design for new developments, which includes review of all drawings, coordination of third-party consultants, incorporation of all due diligence materials into design and execution of necessary entitlements and project permits.
• Manages project teams, including architects, contractors, consultants, and internal stakeholders, to ensure successful project delivery within budget and schedule.
• Manages the construction draw process, generates monthly project reports, and reviews each phase of the construction process, including reporting and relationship management with lenders and equity partners.
• Attends OAC meetings and site visits to oversee project execution through the duration of construction.
• Ensures compliance with plans and budgets and communicates to the principals any critical issues.
• Provide counsel and guidance to property management team during pre-leasing, lease-up, project stabilization and disposal of new development projects.
• Provide high quality customer service to all stakeholders from buyers, lessees, lenders and other stakeholders involved in development.
• Develop strong personal and company relationships with key stakeholders through networking, industry events, and community involvement.

Qualifications

• 7+ years’ experience with construction or development.
• Experience with multifamily
• Strong analytical and quantitative skills, with an excellent financial acumen and high proficiency with real estate underwriting and real estate finance concepts.
• Professional interaction with team members, stakeholders, government officials and staff.
• Building positive working relationships with employees at all levels within the organization.
• Exercising sound judgment when making decisions.
• Able to meet deadlines as necessary.
• Effectively working with minimal supervision.
• Strong organization and attention to detail skills.
• Dynamic verbal and written communication skills and strong interpersonal abilities.
• Good problem solving/creative thinking.
• “Can-do” attitude, pro-active and resourceful.
• Multi-tasking and extensive organization and follow up.
• Must possess exceptional communication skills, the attention to detail required to manage projects and people, and a high level of experience in property development.
• Real Estate knowledge required.
• Must have knowledge of Microsoft Office software products, including Outlook, Excel, Word, Teams and Projects.
• Must have excellent organizational skills and the ability to prioritize.
• Must be able to work in a team oriented, fast-paced environment and work under pressure.