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Director of Development, Multifamily

Location:

Nashville, TN


Company Description:

Our client is a nationally recognized, market-leading real estate investor, developer, and operator of multifamily, commercial, and mixed-use communities.  Their seasoned teams create high-quality, differentiated residential and commercial communities in many of the fastest growing markets in the United States.  Since 1963, the development portfolio has included more than 69 multifamily communities, 22 million square feet of commercial space and 60 single family master-planned communities.  It has offices in Charlotte, DC, Atlanta, Orlando, Nashville, Dallas, Denver, Phoenix and Salt Lake City.


Position Description:

The Director of Development will be an experienced and driven development professional to lead the execution of an existing $500M portfolio of multifamily developments in Nashville, TN in addition to sourcing new development opportunities.  This role reports to the Senior Managing Director of the region, headquartered in Charlotte, NC.  While the preference is for the position to be based in Nashville, a Charlotte or Atlanta based professional would still be considered.

ESSENTIAL JOB FUNCTIONS:

  • Well versed in and ability to stay current on existing market dynamics and trends, individual submarket performance, development pipeline, and investment and economic development activity
  • Assist in identifying and reviewing land acquisition opportunities, creating conceptual analysis, and drafting LOIs
  • Coordinate and execute all due diligence for new development opportunities
  • Collaborate with internal finance, pre-construction, and asset management teams to analyze and underwrite new development opportunities
  • Manage project budgets and complete periodic reporting as required by leadership, equity and debt partners, and other stakeholders as necessary including status updates and budget reconciliations
  • Assist in the coordination, preparation, and presentation of investment materials to senior management and external financial partners
  • Maintain key relationships with local and national brokers, landowners, developers, and contractors to utilize their knowledge and experience regarding market dynamics, construction pricing, and new development opportunities
  • Develop/maintain relationships with equity and debt partners
  • Protect Client’s rights by submitting timely notices to all landowners, financial partners, team members, and general contractors in the case of damages, delays, or scope changes as required by law and contracts
  • Coordinate/complete design and project visioning processes
  • Verify/obtain government/county/city approvals and permits
  • Initiate/obtain approval of required utility systems, secure capacity assurance, and secure access agreements
  • Lead all development projects in the Region as the owner’s representative; oversee compliance with development schedule; ensure development is completed within approved budget
  • Conduct job site visits/inspections with design team members and general contractor on a regular basis to review safety, quality control, adherence to schedule, design intent, cleanliness, and budget
  • Ensure that the project delivery is phased appropriately, well-coordinated and executed to company standards
  • Develop/coordinate plan for punch-out/turnover of each development from construction to operations
  • Work closely with in-house Asset Management and Marketing teams to coordinate policies and procedures with designated third-party property management team during lease-up
  • Oversee and monitor lease-up progress and report regular status updates to leadership
  • Assist in potential disposition or recapitalization of assets.

QUALIFICATIONS:

  • Bachelor’s degree in business, finance, real estate development, or related field
  • 7-10 years minimum experience required with a minimum of 5 years of related real estate or development management experience leading multifamily projects, including complex and mixed-use developments
  • Proven ability to lead the due diligence, underwriting, visioning, design, development, and full execution of successful multifamily communities
  • Exceptional financial acumen and experience working with complex Excel models
  • Strong interpersonal, negotiation, and communication skills
  • Demonstrated project management and leadership skills
  • Ability to deliver projects on time and within budget
  • Proven experience building and sustaining relationships with internal and external partners and stakeholders
  • Nashville market experience preferred
  • Advanced computer skills using Word, Excel, Outlook, PowerPoint, Teams, Zoom, and Bluebeam Revu
  • MBA or Master’s in Real Estate, Real Estate Development, or related field preferred
  • Preference for position to be based in Nashville, TN with possible location in Charlotte or Atlanta

To learn more about this position, contact: Matthew McAulay | (704) 770-6110 | mmcaulay@crownsearch.com

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