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Development Manager

3 months ago

West Palm Beach, United States Shoreham Capital Full time

With collaboration and oversight from the Vice President of Development, the Development Managers specific responsibilities to include but not limited to:

Project Acquisition and Due Diligence:

  • Conducting analysis on zoning laws and project feasibility
  • Supporting the acquisition team with the evaluation of opportunities and compiling summary documents.
  • Assist in presenting financial models and investment justifications to management and funding partners.
  • Assisting in the due diligence process for acquisitions, including risk identification.
  • Creating impact fee schedules and budgets
  • Establish comprehensive A&E budgets for each development phase.
  • Providing administrative assistance for any purchase and sale agreements as required.
  • Create the development budget and timeline upon closing; managing and monitoring these throughout the project duration.
  • Assessing project feasibility by coordinating physical and financial due diligence, which can involve evaluating entitlement likelihood, conducting financial and market analyses, identifying initial product concepts, and managing environmental, architectural, engineering, and land use studies.

Planning Approvals/Entitlements:

  • Acts as the primary contact and project lead throughout all stages of development, managing the progression of work by development consultants such as architects, landscape architects, and engineers.
  • Directs the entitlement process in collaboration with the project entitlement team. This may include representing the project at hearings and neighborhood meetings, closely coordinating with attorneys, planners, architects, engineers, and other consultants, as well as engaging with local officials.

Project Design:

  • Actively participates in design conceptualization and programming. Collaborates with architects and consultants to refine floor plans, site plans, retail layouts, and amenity space designs, aiming to optimize rental income while maintaining awareness of construction costs.
  • Coordinates with stakeholders to secure necessary permits, ensuring oversight of project details and timelines.
  • Engages with the project team to oversee the master project schedule, confirm specifications, and define project requirements.
  • Monitors and reports on the progress of project schedules and budgetary considerations.
  • Oversees purchase and sale agreements and manages compliance requirements.
  • Selects and oversees consultants for the development team, negotiates consultant agreements, and tracks contracts against budget forecasts.
  • Prepares predevelopment budgets and approves consultant invoices.
  • Prepare monthly pay applications and funding draws, approving project related invoices, and adhering to stakeholder requirements.
  • Maintains communication with stakeholders and handles reporting duties as necessary.

Construction:

  • Identifies and selects third-party contractors and subcontractors for each project.
  • Collaborates with the third-party contractors preconstruction and estimating teams to establish initial costs and continually refine construction expenses, timelines, and other details.
  • Manages the bidding process, general contractor (GC) selection, negotiate the Guaranteed Maximum Price (GMP), and handle assumptions/clarifications leading to the finalization of the GMP.
  • Proactively supervise the contractors performance during the construction phase, attend site meetings as needed, and conduct Owner-Architect-Contractor (OAC) meetings.
  • Facilitate the review and approval process for Requests for Information (RFIs), Submittals, Architect's Supplemental Instructions (ASIs), and other documentation.
  • Review and approve change orders and secure approvals from capital partners where necessary.

Lease Up:

  • Assists in selecting property management companies suitable for each project.
  • Coordinates with the chosen property management team to ensure a smooth transition and start of operations.
  • Verifies that all project systems are fully operational and functional before handing over to property management.
  • Participates in property management meetings as required to ensure alignment and address any issues.
  • Supports marketing and branding initiatives by reviewing and approving marketing materials, graphics, advertisements, and plans for events.

Financial:

  • Assists in compiling investment packages for the Management Investment Committee.
  • Provides project updates and conducts site tours for capital partners.
  • Prepares monthly reports for internal stakeholders and updates for capital partners. May serve as the primary contact for debt and equity partners from the project's closing through to completion.

Candidate Qualifications/Experience:

Education:

  • The successful candidate should have a strong academic background with a bachelors degree.

Experience:

  • A minimum of 5 years of experience in real estate acquisitions, entitlement, development, and/or the construction of multifamily properties.

Travel:

  • Some travel required.