Development Manager

Terra, the award winning, Miami-based real estate development company carefully chooses projects that have a positive impact on their surroundings and, by extension, on the people who live there. When planning a new development, Terra takes a dynamic role with the city and neighborhood to activate its potential as a community, maximizing the way in which people are able to live and work; creating new and innovative ways for the urban & suburban landscape to evolve. The firm has cultivated a portfolio of more than five million square feet of residential and commercial real estate valued in excess of $8 billion and is active across all major real estate asset classes, including multifamily apartments, luxury condominium and single-family residences, retail and office space, hotels, and industrial properties. Terra has achieved international acclaim for its commitment to design excellence, resiliency measures, and sustainable development and has been continuously transforming South Florida into the prosperous metropolis we know today.

We are looking for a Development Manager to join the team!

General Responsibilities

• Responsible for, under the guidance of the Sr. Development Manager, managing phases of multiple development projects and supporting the execution of the company’s development project pipeline from inception to completion
• Coordinate with multiple internal and external groups to ensure the design and delivery of successful, profitable projects
• Create, maintain and be responsible for development schedule for all deliverables required to execute the project, including acquisition, design, permits and approvals, construction, sales/leasing and marketing activities
• Must coordinate internally with the team - Operations, Marketing, Construction, Finance, IT, Accounting
• Manage project proformas - budgets, schedule, timing, market assumptions, underwriting and financing assumptions
• Track variances from approved budget on a monthly basis in coordination with accounting; review all cost allocations to confirm accuracy and report reasons for any variances along with any anticipated adjustment; be responsible to understanding and explaining all variances
• Create pre-development cash flows in collaboration with the finance team and construction team
• Interface with internal stakeholders to define project requirements and constraints and obtain input on design and budgets
• Update monthly project reports, business plans and any other periodic reports for distribution to internal team and investors
• Responsible for all regularly updating partners as provided for in the operating agreement and as agreed among partners
• Coordinate and participate in community outreach efforts required for each project
• Run and oversee minutes for all consultant project meetings, including but not limited to architect/owner/contractor meetings prior to construction start; ensure clear action items are defined and followed up on after each meeting
• Responsible for negotiating and executing consultant contracts in coordination with legal counsel; participate in external consultant identification and selection
• Manage all consultant contracts for compliance with schedule of values and terms (with the exception of marketing which will be managed by the marketing department.)
• Coordinate branding and marketing efforts with internal marketing team and third parties
• Responsible for coordinating and securing all permits required to commence construction of proposed improvements (including but not limited to zoning approvals, DERM, water and sewer, building permits, demo permits, etc.)
• Responsible for project cost management to ensure all stay within budget
• Responsible for securing construction cost estimates to prove out budgeted construction costs at periodic stages throughout the project; this will be executed in collaboration with Construction
• Coordinate consultants and internal team members to develop and collect applicable documents in conjunction with obtaining entitlements and required building permits
• Assist in collecting and assembling information required for underwriting proposed deals involving existing assets and potential acquisitions. Work with acquisition team to create financial models to underwrite project costs, revenues, and returns
• Responsible for the preparation of budgets, schedules, and execution strategy for projects including entitlements, design development, and building permit approvals
• Identify project risks, develop risk mitigation and contingency plans, and implement action plans to reduce or eliminate project risks
• Assist in the selection and management of the design team and preparation of drawings for initial budgeting and scope definition, development of site and building design detailed drawings, etc.
• Track progress of each project against goals, objectives, approved budgets, approved timelines. Report status and variances in coordination with accounting. Create action plans and adjust as required to meet objectives, budget and schedule
• Manage tenant relationships and buyer relationships; along with coordinating all such requirements with documentation of leases, purchase and sale agreements and coordination of any building requirements with design and construction
• Responsible for review and compliance with development agreement, purchase & sale agreement terms and conditions
• Other duties, responsibilities and special projects as assigned

Requirements

• A minimum of 5 years of relevant experience required
• Bachelor’s degree in Finance, Architecture, Engineering or other related fields
• 2 years of management experience
• Experience with Bluebeam required
• Proficiency in Microsoft Office

As a team member at Terra, you’ll enjoy:

• Career advancement and bonus opportunities
• Comprehensive benefits package, including health, vision, dental insurance, and FSA (Flexible Spending Account)
• Employer-paid life and disability insurance
• Employer matching 401k
• Employee team building events
• Company paid monthly lunches
• Paid Time Off and paid Holidays