REPORTING TO: Vice President of Development
Firm & Position Overview:
Our client has earned a reputation for award-winning excellence in real estate development, acquiring and developing holdings with a value in excess of $2.5 billion in multiple states. Long-term owners devoted to the communities in which it works, the firm creates vibrant living communities through new construction, the acquisition and repositioning of multi-family properties, adaptive reuse of historic structures, and complexly structured mixed-income housing communities.
The firm is looking for an experienced developer to join the New Jersey-New York team. Reporting to the Vice President of Development, this SPD will be responsible for overseeing multiple development projects from conception through conversion with a focus on multi-family residential development. The SPD will manage all facets of the development processes including project underwriting, financing, design coordination, construction management, project close-out and transition to the property management team.
- Work hand-in-hand with multiple corporate leaders across the company, including acquisitions and asset management, development associates and the management company, and with external partners such as state housing agencies, lenders, and consultants to create and implement an effective strategy for successful projects
- Establish and implement project underwriting and projections for financial applications through project completion and ongoing reporting.
- Manage the closing process, including design, equity & debt negotiations, permitting, and regulatory and agency review.
- Represent firm in predevelopment and on-site construction meetings with architects, engineers, other design professionals, the general contractor, building officials, and at public settings
- Lead community and neighborhood meetings and hearings as well as the permitting process. Review permitting documents and coordinate with consultants to provide technical feedback/ assistance.
- Obtain consultant proposals and track soft costs throughout development process.
- Maintain budget as design evolves (update construction cost estimates, gross and rentable square footages, etc.)
- Retain single point of responsibility, driving the bottom line success of the project. Own and manage budgeting, financial reporting and document review, including development agreements, JV agreements, partnership agreements, guaranty agreements, etc.
- Track proforma versus actual during transition of asset to operations. Participate in turnover process to operations so team is aware of all permitting obligations and team understands underwriting objectives for lease up.
- Provide leadership and mentor rising talent within the Development team
- Bachelor’s degree. Master’s degree with applicable concentration(s) preferred but not required
- Minimum of 7+ years of significant, relevant experience in real estate development, preferably with an emphasis on multifamily and tax credit development.
- Demonstrated ability to build and direct effective teams to manage major development projects
- 1 to 3 years of supervisory experience with a strong team orientation and excellent interpersonal skills
- Comfort traveling to construction sites in NY-NJ-CT area
- Flexible scheduling but in office work is expected
- Proven understanding of affordable finance and experience working with various types of public finance agencies, private real estate funding, and state housing programs
- Superb written and verbal communication skills
- Excellent financial modeling and analysis experience
- Ability to problem solve and manage several projects simultaneously through self-motivation, high energy, flexibility and excellent organizational skills
- Follow-through, focused and detail oriented with a high sense of transparency and urgency
- Interest and ability to travel to existing and prospective developments/assets