Vice President, Development
Los Angeles, CA
Our client develops, acquires and operates high-quality apartment communities in desirable locations coast-to-coast. While they are a national company, they pride themselves on their ability to immerse themselves in their chosen markets – in other words, living and working in the communities where they operate. They combine deep understanding of each market with 30+ years of expertise and a fresh innovative approach to the apartment industry, to build relationships and places in which people thrive – creating real and enduring value for their residents, investors and associates.
The VP will assist in all development activities for the Los Angeles region. This entails the sourcing and execution of the development pipeline, including the pursuit, diligence, and acquisition of new development opportunities, managing the design process, reviewing each phase of the construction process and coordinating site specifications. Essentially, executing the development process from land acquisition thru stabilization while running the Los Angeles office.
- Identifies development opportunities then executes and manages the pre-development feasibility assessment, acquisition, design, development, asset management and eventual disposition of the property.
- Oversees the development and construction of a property, including negotiating land contracts, entitling sites, developing budgets, and developing construction schedules.
- Ensures current cash flow and long-term market value of existing assets is maximized.
- Maintains relationships with brokers, land sellers, homebuilders, and investors.
- Interviews, hires, trains, and supervises Development Associates.
- Participates in Company-provided training such as fair housing, safety, non-discrimination, and harassment prevention.
- Complies with all Company National Standards, applicable health and safety rules and regulations, as well as applicable local, state, and federal laws.
- Ensures strict compliance with plans and communicates to the Senior Managing Director any critical issues.
Qualifications for consideration:
- Minimum of eight years of experience in Multi-Family real estate development that can include acquisitions and/or finance.
- Bachelor’s degree in Business, Finance, Economics, or Real Estate.
Key traits for success:
- Sourcing: A proven track record of sourcing new multifamily development deals in the Los Angeles region.
- Network: An established broker and landowner network in the region with a thorough understanding of market changes and forces that influence the organization.
- Work Ethic: Displays self-starting, self-motivated traits and excels in an entrepreneurial environment. Consistently delivers accurate and timely work product and accepts personal accountability for results.
- Composed: Resolves issues while professionally managing business relationships.
- Judgment and Decision-Making: Must have the ability to make sound decisions based on information gathered and analyzed. Consider all pertinent facts and alternatives before deciding on the most appropriate action.
- Intuitive: Understands project scope, purpose and audience; anticipates varying perspectives and inquiries; stays one step ahead of incoming requests based on business instincts.