Development Manager

Job Description

Summary of Duties

§   Provide project development functions for large-scale mixed-use, office, retail and residential development projects in the Eastern Region, including Washington, DC.

§   Direct the day to day project management activities of the external and internal team for the completion of pre-development, entitlements, programming, design, construction, marketing, financing and public/private partnership compliance activities.

Primary Development Responsibilities

Project Management:

§   Manage on a “day-to-day” basis the internal and external project team in implementing all aspects of the development of projects from initial design through completion including:  preparing the project budget and pro formas, obtaining project entitlements, overseeing project feasibility, managing the project design teams, coordinating market and leasing & sales activities, partner interface and ensuring compliance with all transactional agreements to meet the project’s financial and schedule objectives.

§   Direct the design of the base building, unit layouts and design, and tenant improvements by the architectural and engineering consultants for the retail, apartment, condominium, parking garage and common areas of the project to meet cost, marketing, jurisdictional and ownership’s objectives.

§   Track the project revenues and expenses to ensure close management oversight and achievement of targeted economic performance through conclusion of the project.  Update project pro formas and budgets on a regular basis and coordinate with accounting and external financial partners.

§   Implement the rental and sales strategy for the project as created and executed by the marketing and leasing team (retail brokerage, apartment leasing and condominium sales) and external consultants and manage to achieve schedule and income objectives.

§   Coordinate the development of the project with asset and property management teams for the various project components to establish operating budgets and requirements for the project.

§   Prepare regular project update reports for internal management, external institutional venture partner and lender reviews. 

Business Development:

§   Assist and participate in responding to new business opportunities for build-to-suit and investment development projects in conjunction with the LEREG-East, Inc. Development and Acquisition Officers.

§   Assist with the underwriting for new investment acquisition development opportunities including physical site and market feasibility, pro forma, schedule, budgeting and development investment analysis.

Knowledge/Skills/Abilities

§   Excellent written and oral communication capabilities which demonstrate superior interpersonal and team-building skills in managing internal and external client, consultant and public/private relationships.

§   Strong transaction knowledge (construction debt, tax-exempt bond financing, institutional equity venture structures) to understand and manage all aspects of the project pro forma, budgets and cash flows related to development projects.

§   Extensive experience with leading the management of the full cycle of physical vertical development process, including entitlements, design, marketing, financing and construction matters for project of institutional size and quality.

§   Demonstrate an ability and willingness to think and act strategically and provide appropriate leadership in creating a planned vision for the successful implementation of projects in concert with institutional and local partners.

§   Demonstrate sound and reasoned judgment, promote high quality execution of work product and deliverables by the team, and act with the highest ethical standards and integrity.

§   Knowledge and familiarity with local market conditions, entitlement and permitting process in the District of Columbia a plus.

Qualifications:

·         7+ years of related experience and proficiency in financial modeling with Excel and Argus

·         Exceptionally strong quantitative and analytical skills.

·         Excellent communication skills – written, oral and interpersonal.

·         Highest level of personal integrity and ethical standards.

·         Strong personal initiative and desire to succeed in a demanding, entrepreneurial environment.

·         Ability to work with a diverse group of people in a collegial, team framework.

·         Basic understanding of fundamental economic and corporate finance principles.

Education:

·         Bachelor's degree required, preferably in architecture or civil engineering, construction management, finance or related fields.

·         MBA or higher education real estate or finance degree preferred.