Director - Development

Position Summary

Responsible for bottom-line profit and loss responsibility for project conceptualization, planning, permitting, market and financial analysis, financing, retail leasing, design and construction and successfully develop or redevelop multifamily real estate. 

Key Responsibilities:

• Participate in the identification, feasibility analysis and negotiation of real estate acquisitions.
• Source and analyze the feasibility of potential development sites and evaluate associated development schemes.
• Financial investment analysis, pro-forma modeling (oversight) of new developments, opportunistic investment strategies and potential public participation.
• Source land acquisition opportunities, conceptual planning.
• Participate in the identification and negotiation of debt financing including public and/or TIF financing, public grants, public incentives, and tax credits.
• Prepare and direct internal requests for authorization of capital investment and expenditures to initiate development, prepare investment committee packages and investment committee package support.
• Direct activities with attorneys, architects, engineers, and other consultants to plan projects related to public entitlement, site permits, acquisition due diligence and closing activities.
• Work with local citizen groups, governmental bodies and other interested parties to obtain necessary project permits and entitlements.
• Direct and manage the Development project execution team responsible for the construction of projects, coordination of designers and consultants and general contractor, etc.
• Monitor and assure timely completion of the investment and development within the established budget, schedule, brand identity and required investment returns.
• Initiate, plan and manage the marketing and leasing plan for development/investment opportunities, including all aspects of marketing materials and promotion, broker relations and supervision of listing agents (as applicable) to broadly expose property, anticipate competition, and secure lease prospects.
• Understand and negotiate all aspects of lease agreements to determine the impact of each lease on the value of each development/investment.
• Provide leadership, mentoring, professional guidance, direction and supervision to other internal team members, including Development Project Associates and Investment Analysts.
• Consult with and assist Asset and Operations Managers in identifying operational and management issues, opportunities and benefits relating to development design and construction and transfer of property to portfolio status or sale at completion. Such consultation will include materials and equipment selection, which will be used in developing projected stabilized operating budgets.
• Work with Investment Management team to transition project acquisitions and entitlement to project programming, design, and delivery phase.

Supervisory Responsibilities:

• None, but work in close coordination with Functional team leads (investment management, development, finance); treating them as partners in the business.
• Responsible for recruiting, hiring, training, and managing any direct reports – evaluating their performance and making compensation/development recommendations accordingly.

Skills & Qualifications:

• Proven track record of increased responsibility and performance across a broad array of areas (e.g. public finance and incentives, permitting, design, construction, finance, and leasing) leading to incremental asset value and realized or quantified profitability.
• Strong financial analyses skills, including detailed discounted cash flow analysis utilizing Argus, Excel or similar programs; demonstrated ability to analyze and implement complex financial models and structures and evaluation of corresponding risks.
• Exceptional communication, presentation and listening abilities and a demonstrated ability to navigate investment/development opportunities through a multitude of public and private steps for successful completion of economic goals and objectives.
• Exceptional interpersonal, relationship-building skills; social intelligence and political acumen.
• Highly motivated, proactive self-starter with the ability to work both independently as well as collaboratively in a fast paced, entrepreneurial environment.
• Superior organizational and project and time management skills; demonstrated skill with personal and project prioritization to structure day-to-day and long-term planning and execution, and track & maintain complex schedules effectively.
• Proven leadership and mentoring skills with an ability to extract the highest potential from supporting personnel and outside vendors and consultants.
• Sophisticated research skills to collect and analyze market information to aggressively compete against industry participants for increased market share, establish facts and interpret an extensive array of information in order to draw conclusions, prepare and defend recommendations; and, make the critical investment decisions with corresponding authority and minimal oversight.
• Must possess good instincts and strong situational awareness.
• Demonstrated ability to source, negotiate and execute:
  • Multifamily development opportunities
  • Development-related contracts
  • Land acquisitions, including the acquisition of raw land with existing buildings

Education & Technical Skills:

• Bachelor’s degree in engineering, construction, real estate, architecture, business, finance and/or economics;  MBA or Master’s in Real Estate, Finance or related field a plus.
• Minimum of 10+ years of hands-on real estate development experience, including multifamily.
• Advanced Proficiency in Microsoft Suite: Word, PowerPoint, Excel and Argus (or similar software)

Competencies:

To perform this job successfully, the individual should demonstrate the following competencies:

1. Managing People: Develops subordinates’ skills and encourages growth; Makes decisions and facilitates process improvements; Includes subordinate training and planning; makes self available to subordinates; Provides direction and gains compliance; Provides regular performance feedback; takes responsibility for subordinates’ activities
2. Judgement: Displays willingness to make decisions; Exhibits sound and accurate judgment; Includes appropriate people in decision making process; Makes timely decisions; Supports and explains reasoning for decisions
3. Quality: Applies feedback to improve performance; Demonstrates accuracy and thoroughness; Displays commitment to excellence; Looks for ways to improve and promote quality; Monitors own work to ensure quality
4. Business Acumen: Understands business implications of decisions; displays orientation to profitability; demonstrates knowledge of market and competition; aligns work with strategic goals.
5. Achievement Focus: Demonstrates persistence and overcomes obstacles; measures self against standard of excellence; recognizes and acts on opportunities; sets and achieves challenging goals; takes calculated risks to accomplish goals
6. Problem Solving: Develops alternative solutions; Gathers and analyzes information skillfully; Identifies problems in a timely manner; Resolves problems in early stages; Works well in group problem solving situations
7. Dependability:  Commits to doing the best job possible; Follows instructions, responds to management direction; Keeps commitments; Meets attendance and punctuality guidelines; Responds to requests for service and assistance
8. Teamwork: Balances team and individual responsibilities; Contributes to building a positive team spirit; Exhibits objectivity and openness to others' views; Gives and welcomes feedback; Puts success of team above own interests
9. Cooperation: Displays positive outlook and pleasant manner; Establishes and maintains effective relations; Exhibits tact and consideration; Offers assistance and support to co-workers; Works actively to resolve conflicts; Works cooperatively in group situations
10. Analytical: Collects and researches data; designs workflows and procedures; identifies data relationships and dependencies; synthesizes complex or diverse information; uses intuition and experience to complement data.

In addition to the above job-specific competencies, all Forum employees are expected to demonstrate these Forum core competencies:

1. Adaptability:  Accepts criticism and feedback; accustomed to a culture of rapid and constant change and easily adjusts to changing priorities and conditions; manages competing demands.
2. Innovation: Develops innovative approaches and ideas; displays original thinking and creativity; generates suggestions for improving work; meets challenges with resourcefulness.
3. Collaboration: Recognizes and cultivates strong interpersonal relationships and cross-functional collaborations; generates value and uses motivation to influence and create change; seeks not to control but to inspire; facilitates dissemination and sharing of knowledge and information.
4. Accountable:  Keeps and follows-through on commitments; readily takes ownership of achieving results by exhibiting responsibility and initiative; displays open, proactive communication that builds trust.
5. Initiative: Asks for help when needed; looks for and takes advantage of opportunities; seeks increased responsibilities; takes independent actions and calculated risks; undertakes self-development activities; volunteers readily.
6. Respectful: Displays integrity and honesty; maintains professional demeanor and composure in tense situations; exhibits fairs and generous behavior; readily owns up to mistakes and admits when wrong; strives to “get it right”; displays loyalty even when tough to do so.

Compensation Information:  The base salary range for the position is $110,000 to $175,000, based on experience.  This range is estimated for this role.  Actual pay may be different.

If you are interested in this role, please submit your resume AND a list and description of projects you have been involved with during your career.