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Development Manager

Salary
Competitive
Employment
Full Time
Work Place
Office
Real Estate Field
Location
Birmingham
 AL
Postal Code
35205
Country
United States

This job is no longer active.

Description


Position Purpose:

The Development Manager works diligently with the EVP of Development to define and execute the development strategy of the company through deal sourcing, financial analysis and modeling, due diligence, debt/equity procurement processes and asset closing.  This role will effectively manage all aspects of real estate development in multifamily garden style, wrap and podium developments. This position involves leading all phases of real estate development including predevelopment, project design, construction management, planning, permitting, community outreach, coordination with legal counsel, finance, asset management, construction management and property management personnel. 

The activities listed below are not all inclusive; however, they are indicative of the type of activities required to fulfill the demands of this position.   Other duties or projects may be assigned by management.

 

Duties and Responsibilities:

  • Upholds the Vision (Values, Purpose & Mission) of StoneRiver Company while demonstrating leadership qualities.
  • Works with the EVP of Development to set investment goals and strategies to fulfill the investment criteria and investor target yields.
  • Maintain consistent and timely communication with Development team regarding opportunities.
  • Identifies, evaluates, and presents suitable investment properties through proven, reputable sourcing/network relationships.  Is constantly cultivating meaningful contacts for new markets.
  • Applies critical analysis to evaluate the fundamentals of target geographic cities/markets and submarkets.  This includes conducting research of key pertinent economic and demographic conditions as well as a thorough understanding of local intelligence.
  • Leads the transaction process for developments including deal structure and negotiation, assisting with the sourcing of debt and equity financing, and due diligence in coordination with legal counsel, property management and finance.
  • Execute the development and implementation of the approved development plan, schedule, and project budget(s) in collaboration with project and executive teams to meet milestones, quality, budget and completion targets.
  • Communicate, establish and strengthen relationships with city council, residents, businesses, organizations, partners, consultants and all other local and regional interested stakeholders throughout the development.
  • Undertake the necessary consultation with internal and external stakeholders, responsible authorities and third parties to ensure proposed developments are viable and sustainable.
  • Assist with preparing project recommendation reports in order to obtain endorsement from senior management, financial partners and lenders.
  • Assist with securing the necessary funding for the development projects.
  • Progressively and proactively identify, manage, mitigate and report on project risks, critical issues and impact on the agreed upon project deliverable.
  • Manage pre-construction activities.
  • Provide regular and timely written reporting regarding project deliveries, inclusive of necessary meeting attendance, with both internal and external stakeholders.
  • Assist with submissions relating to the securing of commercial debt; review and approve contractor and consultant progress payments.
  • Keep abreast and report on macro and sub-market conditions as well as supply/demand characteristics in specific product segments.
  • Consistently tour and remain informed of competing projects.
  • Ability to collaborate with internal resources and third-party operators to establish consensus and establish realistic target projections.
  • Manages the transaction timeline toward a timely closing.  Communicates often and thoroughly to all parties involved.
  • Responsible for oversight of the due diligence activities for investment projects in an organized manner that is easily understandable to a variety of team members.
  • Monitors monthly property operating statements as well as Variance analysis reports which explains actual monthly and year to date results as compared to the annual budget or pro-formas.
  • Represents the Company in a professional manner at all times.

 

In order to be successful in this position, the following competencies must be evident:

IT IS ESSENTIAL that this person be an extremely resourceful self-starter, able to work independently, and take strong initiative, working additional hours when necessary with a strong sense of urgency

Possess strong relationship-building/networking skills

Strong organizational and multi-tasking skills

Excellent verbal and written communication skills

Able to lead presentations with confidence and skill, anticipating questions and/or objections

Must possess excellent analytical aptitude

Able to view and critically assess land, buildings, grounds and landscaping 

Excellent computer skills with the ability to create customized research reports and to integrate data into existing database formats - Proficient in Microsoft Office Products (Word, Excel, Outlook); as well as strong technical experience with computer modeling

 

Preferred Educational Requirements:

Bachelor’s Degree, preferably with a concentration in real estate, finance, business, engineering construction/development, general finance, or similar degree

MBA Preferred

Training Experience:

7-10 years of development and underwriting of real estate; experience in creating growth and value through developments

3+ years of multifamily experience

 

Licenses and Certifications:

Valid Driver’s License – must be insurable under the underwriting guidelines of insurance provider

 

Travel Required

 

 

 

Job Function


 

Job Sector


Not specified

 

Experience


5+ to 7 years


This job is no longer active.

Development Birmingham Full Time AL Development Development Manager other