Senior Development Associate

Senior Development Associate Job Description

Company:

Our client is a Washington DC-metro focused real estate company specializing in residential and mixed-use development and the acquisition and repositioning of existing multifamily assets. They create compelling residential communities that deliver value for their residents, neighbors and investors. A boutique-sized firm that is highly entrepreneurial, they have an experienced and passionate team that is multidisciplinary in its approach and execution.

Our client is looking for a new team member who will take on project management and is ready to step into the responsibilities of a Senior Development Associate. The successful candidate will have previous relevant experience being part of a team bringing multifamily projects to completion. Seeking a detail-oriented individual who displays great analytical and strategic thinking, strong communication skills and a track record of getting things done and closed out. Creativity, flexibility and curiosity are a must as is a willingness to work hard to meet high expectations.

The Senior Development Associate will report to a Principal and will be dedicated to two projects: leading a new multifamily project from design through permitting, construction, delivery and lease-up; and, assuming day-to-day management of a second project currently under construction through completion and stabilization. The role will also support the broader development team as needed.

Projects are currently all situated in the Washington Metro Area, but experience in other markets on the East Coast is beneficial.

Essential Duties:

1. Overall project management and tracking of each aspect of a project. Oversee and prepare project documentation, funding requests and reporting, including monthly investor and lender construction updates.
2. Maintain and update project underwriting and budgets. Analyze ongoing performance against proforma, budget and schedule.
3. Serve as day-to-day lead on two projects: (a) a project in design, managing it through entitlement/permitting, GC procurement, construction and lease-up; and (b) a project under construction, maintaining continuity with the general contractor, lender, investors and other stakeholders through completion and turnover.
4. Manage all project vendor contracts and performance, including negotiating and resolving change orders with the general contractor.
5. Study and analyze the competitive marketplace and develop product positioning, including promulgating a project vision document.
6. Lead design meetings and coordinate resolution of design items with architects, engineers, general contractors and other design team members.
7. Work in conjunction with design team and permit expeditor to submit, track and resolve issues related to all permits for a project.
8. Day to day coordination and oversight of construction processes, including attending project meetings, QA/QC of issues onsite, coordinating the resolution of RFIs and other construction issues with relevant design team members and managing the testing and inspection agency. Create ongoing agendas and minutes.
9. Coordinate FF&E design, procurement and delivery, including tracking various items to ensure on-time delivery in coordination with the construction schedule.
10. Lead brand development and marketing strategy for each asset, in coordination with the Asset Management team, as required.
11. Lead project start-up coordination with the Property Management team, oversee lease-up, and manage the project’s transition from construction to operations.
12. Lead punch list walks and the construction closeout processes, and ensure all O&M’s, warranties, as-built drawings and other final documentation are delivered to all stakeholders at final completion of a project.
13. Participate in a broad range of meetings with public/private partners, neighborhoods and their representatives. Attend and represent the company at public hearings. These could include evening and weekend commitments.
14. Follow ongoing trends in the industry including how Artificial Intelligence is transforming how we analyze, design, construct and operate our buildings.
15. Push company’s execution in making the homes we build/own a great place to live and empowering our on-site teams to deliver a top-tier experience to our residents.

Requirements:

1. Minimum Bachelor’s degree. Advanced degree is a plus.
2. Minimum 4-7 years of direct experience. A design/construction/engineering background is preferred along with a good understanding of real estate finance.
3. Self-motivated and proactive with respect to managing workload and own professional development.
4. Proficiency with Microsoft Office, specifically Excel.
5. Proficient understanding of real estate finance and analytic tools.
6. Strong organizational skills, independent problem solving, with the ability to prioritize and multi-task.
7. Meticulous attention to detail and strong work ethic.
8. Skill in managing and driving internal/external teams towards deadlines.