Macdonald & Company is pleased and excited to be partnered with one of their favorite groups, a market leading multifamily & mixed-use developer in Texas to find and appoint a development manager or director to join their team in Austin focused on executing on a significant pipeline of deals.
Overview:
The Development Manager/Director position is primarily responsible for leading the day-to-day development efforts for assigned projects. This position is expected to take ownership of and manage all aspects of the development process with a focus on coordinating/managing project consultants (architect, engineers, etc.), procurement of governmental permits/approvals, driving project schedules and collaborating with internal stakeholders on design decisions, project capitalization strategy and construction execution approach.
Responsibilities:
- Work with Senior Management and the group execution team to identify the appropriate design team and negotiate design contracts using group standard forms of agreement. Anticipate, manage, and negotiate add service requests from consultants.
- Create and regularly update schedules to ensure all steps of the development process are accurately reflected, monitored, and executed according to the project timeline. Drive internal and external teams to keep the project on schedule.
- Create and manage proforma-based development budgets for each deal, tracking expenditures against the budget. Manage consultant invoices to ensure payments accurately reflect completed work.
- Understand and manage the process and related fees to obtain all governmental and regulatory approvals, including platting, site plan approvals, building permits, utility permits/easements, environmental permits, etc.
- Lead OAC meetings during predevelopment to ensure the goals of the underwritten business plan are met on time and within budget. Direct consultants on the coordination of their plans and specifications, applying lessons learned from previous experiences.
- Work closely with the group’s Construction Management (CM) team to understand the validity of construction cost estimates in real-time and explore cost-effective alternatives without sacrificing required development quality.
- Collaborate with group CM, Asset Management, and Property Management to achieve a Guaranteed Maximum Price contract based on the underwritten business plan.
- Attend construction OAC meetings and work with the group CM team to ensure the project schedule and budget are maintained. Manage and communicate potential risks of cost escalation and change orders through consistent evaluation and negotiation support. Provide leadership and tracking to manage the construction punch process effectively through final certificate of occupancy.
- Work with group Asset Management and Property Management to formulate and approve the initial lease-up budget to ensure lease-up pro-forma objectives are met.
- Represent group Development throughout the asset’s lifecycle to ensure effective and efficient internal and external communication. Lead regular updates with equity partners and lenders.
- Lead project-to-project communication strategies, providing regular internal project updates to the group Development Team. Ensure team-wide knowledge, understanding, and input for each project based on critical milestones (e.g., unit mix formation, floor plan reviews, exterior elevations/materials markups, GC pricing analysis, etc.).
- Obtain consensus and drive "best outcome" decision-making among group team members, including Executive Management, on all elements of project design and execution.
- Participate in the project capitalization process with other group team members by articulating design, risk management, and other due diligence evaluations to debt and equity providers.
- Manage and coordinate with various internal group team members to ensure consistent communication and facilitate platform growth.
- Support group Partners in evaluating new development opportunities. Work to develop your network and skill set to expand value creation capabilities over time.
- Interface with group’s Asset Management and Construction Management teams to prepare effective project Development Reports for internal and external capital partners.
Requirements:
- Undergraduate or MBA degree in real estate, finance, business, engineering, architecture or construction management, or other related field. Or relevant work experience.
- Minimum of 3+ years of managing the day-to-day real estate development process. Experience and understanding of the design, permitting and construction components of developing multifamily projects is preferred.
- Ability to perform a variety of responsibilities with an attention to detail, strong work ethic and commitment to excellence.
- Must take initiative, be independently resourceful, prioritize time and perform within a team setting while maintaining focus and multitasking in a fast-paced, time sensitive environment.
- Understanding of software platforms such as Bluebeam, Procore, Rabbet and MS Project is beneficial.
- Excellent written and verbal communication skills.
- Exhibit strong intellectual curiosity, tenacity and advanced emotional intelligence.
- Must be willing to travel on a frequent basis.
