Director, Development

JOB DESCRIPTION SUMMARY Sources and manages the pipeline of development pursuits for the assigned Region from cradle-to-grave. Manage all activities related to new development projects to achieve the established financial and growth targets, including completing initial land acquisition due diligence, facilitating the underwriting, and closing of real estate transactions and managing third party consultants through the project design and construction process. JOB DESCRIPTION Manages the due diligence process on land opportunities and develops documentation and recommendations on key findings that may affect the return and financial performance of the proposed deal. Prepares detailed investment memorandums and authorizes their submission. Provides insight on the proposed projects to the Company’s Investment Committee including detailed pro-forma and financial models and pursuit cost budgets. Coordinate with consultants, permit expeditor, and construction team to ensure all municipality requirements permitting and jurisdictions are met. Ensure any governmental and jurisdictional issues are addressed and resolved with the assistance of consultants and construction team. Administers the Development and Construction Status Report (DCSR) process. Monitors and reports on the status and progress of proposed development pipeline project, recommending critical timelines and deadlines for tasks and activities related to the proposed transaction, and identifies and communicates issues or problems that could adversely affect closing. Represent ownership on day-to-day project management activities including OAC meetings and jobsite visits, including attending mock ups, box walks and FF&E installs. Address any open issues with construction or consultants requiring owner feedback. Review monthly draw to ensure project is on budget and identify potential savings and overages to the budget including Operating Deficits, Taxes and Interest Reserve. Manages relationships with the construction team to ensure construction projects are completed in a timely manner, designed according to plan and within budgetary guidelines. Works with the team to ensure the development and coordination of quality control procedures. Ensures all required Certificate of Occupancy and permits are obtained. Manages a strong relationship with equity partner and maintains on-going communications with the executive team, equity partners, and other key business leaders affiliated with the project to provide periodic updates on the progress against schedule and budgets, surface and resolve issues that may compromise the project delivery schedule or costs, and respond quickly and with urgency to questions, concerns, and requests for information. Provide recommendation to equity partner for approval of any improvements or upgrades that would benefit the project based on current market comps and design. Develops and maintains relationships with local market brokers, institutional and equity partners, lenders, real estate owners, and other key stakeholders, and appropriately manages on-going communications related to proposed development projects. Supervise development production team members and managers by interviewing, orienting, training and mentoring employees, and managing their performance in accordance with Company policies, values, and business practices. Provides regular feedback to team members and conducts annual goal setting and performance evaluations. Qualifications 5+ years of experience in real estate development. A bachelor’s degree is required in Finance, Business, Real Estate, Economics, Construction, Architecture or related field. Master’s degree is preferred. Experience overseeing the entire lifecycle of development projects from conception through completion. Dynamic verbal and written communication skills and strong interpersonal abilities. Strong analytical and quantitative skills, with excellent financial acumen and high proficiency with real estate underwriting and real estate finance concepts. Promotes a strong customer centric culture within the department to support seamless service and trust in Greystar as a reliable partner. Demonstrated knowledge of the market dynamics within assigned region. Track record managing local community and political relations. Salary and Compensation The salary range for this role is between $185,000 - $215,000. Additional Compensation: Corporate Positions: In addition to the base salary, this role may be eligible to participate in a quarterly or annual bonus program based on individual and company performance. Onsite Property Positions: In addition to the base salary, this role may be eligible to participate in weekly, monthly, and/or quarterly bonus programs. Benefits Competitive Medical, Dental, Vision, and Disability & Life insurance benefits. Low (free basic) employee Medical costs for employee-only coverage; costs discounted after 3 and 5 years of service. Generous Paid Time off. All new hires start with 15 days of vacation, 4 personal days, 10 sick days, and 11 paid holidays. Plus your birthday off after 1 year of service! Additional vacation accrued with tenure. For onsite team members, onsite housing discount at Greystar-managed communities is available subject to discount and unit availability. 6-Week Paid Sabbatical after 10 years of service (and every 5 years thereafter). 401(k) with Company Match up to 6% of pay after 6 months of service. Paid Parental Leave and lifetime Fertility Benefit reimbursement up to $10,000 (includes adoption or surrogacy). Employee Assistance Program. Critical Illness, Accident, Hospital Indemnity, Pet Insurance and Legal Plans. Charitable giving program and benefits. *Benefits offered for full-time employees. For Union and Prevailing Wage roles, compensation and benefits may vary from the listed information above due to Collective Bargaining Agreements and/or local governing authority. EEO Statement Greystar will consider for employment qualified applicants with arrest and conviction records. #J-18808-Ljbffr