Position DescriptionThe Senior Development Manager is responsible for leading development activities, including site/asset acquisition, entitlements, underwriting, land planning, design, construction, financing, lease-up and all other aspects of development. The Senior Development Manager will serve as the day-to-day project lead of at least two mixed-income housing projects.
This is a full-time, hybrid in-office/remote position with a salary range of $165,000-$185,000 per year based upon factors including but not limited to related experience and time in the industry.
A cover letter is required in addition to resume.
Essential FunctionsBUSINESS DEVELOPMENT / DUE DILIGENCE- Leads in site feasibility analysis, RFP/RFQ proposals, and prepares necessary information to evaluate the development opportunity, including mixed-income and affordable housing feasibility, preliminary underwriting, and capital strategy
ENTITLEMENT- Manage the public approval process, including meetings with public officials and community representatives in coordination with senior leadership.
PROJECT MANAGEMENT- Performs day-to-day management and advancement of the project.
- Develops and monitors project schedule, budgets.
- Manages the design consultants and project team.
- Attends all regularly scheduled project oversight meetings.
- Facilitates community outreach.
- Prepares reports for management, investors and partners.
FINANCIAL MANAGEMENT- Develops proformas and updates them as the project progresses, tracking development costs and budget variances, collaborating effectively with the Accounting Department.
- Maintains project underwriting, sources and uses, return analyses, and sensitivity analyses for mixed-income and affordable housing transactions.
PROJECT FINANCING- Prepares financing applications, RFP, offering plan, and sources construction and permanent financing, including debt, equity, tax credit equity, subsidy, and other public/private financing sources.
- Negotiates terms and day-to-day management of the closing process.
- Supports equity raise efforts, including preparation of investor materials and responses to capital partner due diligence
LEASE UP / STABILIZATION- Coordinates with project team in opening of the property, including coordination of model apartment, property management office set-up; coordinates with internal and external team to create marketing and leasing strategy for the completed development.
- Oversees lease-up activities, conversion to Permanent Financing and transition to Asset Management.
