Job Details
Company
Our client is a private, fully integrated real estate investment, development, and operating firm with a100+ year track record of successful investments and development in multifamily, commercial, mixed-use, industrial, and retail assets, headquartered in Dallas, TX. The company has a great track record, a strong investor base including HNW, Family Office and Institutional investors and has developed over $1 billion since their inception and currently owns and in addition manages over 13,500 multifamily units primarily in Kansas, Missouri, Texas, Tennessee & Colorado.
Location
Houston, TX and Dallas, TX (2 positions)
Role
The Managing Director - Development will be responsible for expanding the company s multifamily and senior housing development projects throughout the Greater Houston, TX region. In close collaboration with and reporting to the President of Development, the Managing Director will be responsible for timely success of the full life cycle development process with a heavy focus on sourcing viable ground up multifamily development sites.
Responsibilities
Specific job responsibilities include, but are not limited to:
Acquisitions & Development:
- Identify and assess multifamily development sites through market research, demographic studies, apartment database reviews, competitive analysis and existing market relationships.
- Work hand-in-hand with the President of Development, President of Construction and operations personnel to underwrite new development opportunities including identifying market-specific economic and demographic data, rental comparable information, construction cost estimates, local permit and fee costs and local supply and demand statistics.
- Oversee and implement all facets of the development process including planning, design, entitlement, construction and lease-up of the projects.
- Hire and thoroughly review civil, architectural, and interior design plans to drive quality and cost effectiveness.
- Prepare informational packages for the internal Investment Committee as well as offering memorandums for equity partners and outside lenders.
- Build and maintain project proformas and budgets with a minimum of monthly updates to project assumptions, strategies, and both actual and re-forecast spend.
A&E Design Management:
- Lead the selection process and design process involving architects, artists, designers, engineers, and contractors to ensure that project goals and objectives are achieved efficiently, economically, and impactfully.
- Track and close-out open items oversee cost estimates at each design phase, lead value-engineering efforts, and ensure that all creative and feasible solutions are considered to deliver a successful project on-time and on-budget.
- Manage consultant scopes of work, RFP processes, leveling of bids, and negotiation and finalizing of contracts including AIA agreements.
- Ensure coordination with design personnel on experiential elements of the project including art, sound, signage, lighting, and interiors.
Construction Management:
- Walk the construction site on a regular basis, attend Owner-Architect-Contractor (OAC) meetings, oversee clarifications, and change orders from the jobsite in conjunction with the Director of Construction.
- Submittal review coordination.
Operations & Project Handoff:
- Collaborate with the Asset Management Team throughout the entire process, specifically including: creation and execution of branding/marketing/leasing plans, identification and selection of 3rd party property management and leasing partners, timely review and modification of operational budgets, proformas and timelines, and other key strategic decisions related to the business plan.
- Prepare monthly reports, including updates regarding budget, schedule, and market conditions. Evaluate potential impacts to business plan and investment returns and communicate same to Company leadership.
- Upon completion, ensure a smooth transition to the Asset Management Team and 3rd party property management firm.
Qualifications
- Bachelor s degree in Business, Finance, Economics or Real Estate preferred. MBA or master s degree with applicable concentrations strongly preferred but not required.
- 10+ years of full life cycle multifamily development experience.
- Land acquisition and/or architecture experience is a plus.
- Excellent written and verbal communication skills.
- Proficient in MS Office Suite (Word, Excel, PowerPoint preferred), MS Project.
- A creative problem-solver who possesses a strong work ethic and who brings a sense of urgency and a rigorous attention to detail to every project.
- Deep knowledge and understanding of multifamily development and construction processes.
- A proven ability to source new opportunities through local market knowledge and broker, owner, and investor relationships in.
- Ability to prioritize and manage several projects under strict deadlines simultaneously through self-motivation, high energy, flexibility, and excellent organizational skills.
- Exemplary project management skills at driving process and holding accountable large teams of internal and external stakeholders.
- Able to think strategically and to present information in a clear and concise manner with strong ability to effectively communicate the rationale behind strategy and decisions.
- Ability to own and manage tasks independently to closure while asking for direction and clarification appropriately.
- Strong track record of personal integrity, judgement, and professional maturity