Senior Managing Director, Development

Senior Managing Director, Development

Location:

Dallas, TX office.

Senior Managing Director of Development leads the sourcing and execution of the Company’s development and new construction strategy, managing all facets of new projects to achieve financial and growth targets. This position reports to the President of Multifamily Development and requires 10–15 years of real estate development experience.

• Source new development opportunities, with the overall goal of one+ new construction start per year. Achieve this goal through building, developing and maintaining relationships with key stakeholders including brokers, consultants, land sellers, equity partners, lenders, etc. in the market to identify feasible, financeable, and profitable new initiatives.
• Negotiate or assist in the negotiation of complex legal instruments including contracts, easements, term sheets, loan documents, joint venture agreements, municipal agreements, joint development agreements, etc.
• Develop and perform financial analyses and entitlement risk underwriting, which forms the basis for site selection and the Company’s spending of pursuit capital and allocation of investment capital.
• Manage the pre-entitlement process by maintaining accurate pursuit cost forecasting and reporting and implement and execute programs and processes to ensure pro‑forma development budgets, underwriting, schedules, quality, and standards are met and completed in accordance with adopted Company policies.
• Supervise development production team members and managers by interviewing, orienting, training and mentoring employees, and managing their performance in accordance with Company policies, values, and business practices.
• Fully engage and work with the Multifamily Business Lead and discipline team leaders in achieving the market’s financial and growth goals by participating in team meetings and calls, keeping team members informed about status of new development work, and actively working with the team on new business development, meetings with clients and investors, and other RFPs.
• Participate in routine Investment Committee meetings that focus on proposed development projects by making presentations on said projects, working with and assisting the Managing Director in project financing, and reviewing and providing progress updates on projects under pursuit, under construction and under lease‑up.
• Discuss strategy and provide input to the strategic decisions and direction of the Company’s Development & Construction business, and act as a conduit to Managing Director for team members, client, and key stakeholder questions, concerns, and issues related to business, education, or human resources operations.
• Manage complex development projects under construction to ensure developments remain on time and on budget; interact with construction team members and third‑party general contractors to achieve business plan goals on specific assets.
• Manage consultant third‑party consultants to identify, entitle, design, finance, permit, construct, lease, manage and dispose of new development projects.
• Accountable for coordinating work activities, ensuring open communication between consultants and Company project team members, lenders and equity investors as needed, by researching and communicating ongoing project status.

• Ability and preference for working in a team‑oriented setting, and interacting with several departments (Development, Construction, Asset Management, Property Management, and Finance) that provide functional expertise and insights toward proper product positioning.
• Deep and broad experience in multi‑family development and new construction, including market and sub‑market familiarity with the demand drivers supporting the growth of this business, plus prior entitlement experience and a solid understanding of construction means and methods to lead initial and on‑going project planning meetings.
• Strong research skills and ability to identify and compile information to support the investment thesis and clearly articulate those findings to the Company’s Investment Committee and prospective…