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Managing Director of Development (MF), Texas

Location:

Dallas, TX


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 Managing Director of Development will be an experienced and driven development professional to oversee all aspects of acquisition and development of multifamily projects in Texas from concept to disposition.  The position reports to the President of Multifamily, based in another office.

ESSENTIAL JOB FUNCTIONS:

Corporate/General:

  • Originate new transactions in Texas region to lead to the deployment of equity
  • Conduct research and maintain familiarity with target markets
  • Tour competitive market area properties
  • Monitor competitors’ other potential new development projects and sales
  • Lead the site identification process
  • Identify and maintain relationships with land sellers and brokers
  • Conduct initial property analysis; assess site development and entitlement risk
  • Lead the regional teams to assure projects are completed on time and budget, and that proforma lease up objectives are achieved
  • Lead strategic discussions and decisions concerning the market/region portfolio; make recommendations to the President, Multifamily and Senior Leadership Team regarding potential development or acquisition opportunities
  • Provide periodic project updates, including financials, schedule, and other applicable specifics to company leadership
  • Coordinate, prepare, and lead presentations to the Investment Committee and Board of Directors
  • Represent the Multifamily Division and the brand in the Texas markets/region, including cultivation of relationships with the brokerage/development community and key municipal stakeholders
  • Maintain knowledge of prevailing development trends
  • Develop and maintain database of qualified design team members, engineers, general contractors, subcontractors, and consultants
  • Develop appropriate measures to manage development risks
  • Manage project budgets using periodic variance reporting provided by Multifamily Division Controller, including status updates and budget reconciliations as appropriate
  • Protect company rights by submitting timely notices to all team members and general contractors in the case of damages, delays, or scope changes as required by law and contracts

Predevelopment:

  • Coordinate all activities associated with the analysis, planning, and development of multifamily sites and projects
  • Manage all aspects of the entitlement process
  • Facilitate and execute due diligence in a timely manner
  • Prepare pre-development schedule, budget, and cost estimates with input from construction team
  • Evaluate, hire, and lead a team of qualified project consultants
  • Receive/analyze market data from third-party property management
  • Oversee the selection and bidding process for qualified general contractors with input from the construction team
  • Oversee contract negotiation with design and construction team member with input from the construction team
  • In concert with capital markets team, oversee the production of lender packages, and act as primary liaison for lender contacts

Design & Development:

  • Oversee complete design process, including the communication and incorporation of “lessons learned” from prior projects
  • Oversee the jurisdictional approval and permitting process
  • Ensure development is completed within approved budget
  • Review pay applications and invoices for approval
  • Oversee development schedule compliance
  • Act as senior point of contact with/for legal counsel and entire project team

Management & Disposition:

  • Ensure that the project opening is well-coordinated and executed to company standards
  • Oversee and monitor lease-up progress, reporting periodically to company leadership
  • Participate in the refinance or disposition of assets

QUALIFICATIONS:

  • Proven record in Texas region of sourcing and executing multifamily developments
  • Demonstrated leadership skills managing employees and third-party partners
  • Bachelor’s degree in business, finance, real estate development, or related field
  • Master’s degree in business, finance, real estate development, or related field preferred
  • Entrepreneurial energy and demonstrated leadership skills
  • Strong computer skills using Microsoft Word and Excel
  • Executive presence and board-level presentation skills
  • Strong organizational skills in order to meet deadlines

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

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