Director, Community Development
2 months ago
Job Description
Job Title: Director, Community Development – Western Region
Reports to: Chief Investment Officer
FLSA Status: Exempt
Supervise Others: Yes
Primary Responsibilities: The Director of Community Development - Western Region is responsible for identifying, underwriting, negotiating, and acquiring new build-for-rent communities consistent with the investment strategy set by the company in the Western portion of the United States.
Skills & Competencies:
Bachelor’s degree in Finance, Economics, Business, Real Estate, construction science or another similar field or equivalent Master’s degree in Real Estate Development or Business Administration preferred 7-10+ years of progressive real estate and development experience within the single-family, homebuilding, and/or multi-family industries Experience with site analysis, land acquisition and entitlement processes as well as development project management Strong management capabilities with experience in managing people, department operations, budgets and proformas, and a track record of growing and training a team Strong interpersonal and communication skills, comfortable speaking before large groups, and presenting investment memos to executive level committees and other similar groups Efficient in effectively focusing upon and communicating only the relevant key concepts/metrics Advanced knowledge of Word, Excel, and PowerPoint; comfortable working with complex data Highly organized, able to manage and prioritize multiple business objectives and projects in disparate geographies with the proper sense of urgency and accountability Experience working in a work schedule environment, including in-office operation, weekends, and holidays, based on business needEssential Job Functions:
Generate new prospective homebuilder and developer relationships to partner with the firm in creating build-for-rent communities via a variety of deal structures Lead a team in the financial underwriting of new communities proposed by the firm’s builder and developer sponsors Responsible for the preparation of investment committee memos to gain approval for new projects The role will ensure all underwriting assumptions are reasonable and up to date as relates to the cost and time to complete all aspects of the development and construction of build-for-rent communities Recruit, hire, evaluate, train, develop and retain productive and highly engaged investment team members within the community development group Effectively manage the community development group’s deal pipeline, providing and maintaining up to date data on current and prospective projects, related market, and sub-market information, proformas, deal status, key dates, and any other information required by senior decision makers Negotiate term sheets consistent with firm’s investment strategy and structures that lead to the successful and timely completion of signed contracts Negotiate purchase and sale agreements, consultant contracts, and joint venture agreements Act as owner’s representative for assets under development, attending meetings with consultants, contractors and other parties as needed to proactively manage and find solutions that may arise that affect project budgets, schedules, potential change orders, or project scope Oversee construction close out process, punch list, and acceptance of completed homes in accordance with internal processes and operations / construction teams Complete all requisite due diligence with new projects within contractually obligated time frames Manage and refine the firm’s preferred build-for-rent product proto-types offered by the firm’s homebuilder partners, making proper adjustments as required by local area demand, demographic trends, and the larger competitive landscape Coordinate with Asset Management as necessary to ensure reporting during development and lease up is timely, accurate and properly reflects the status of the project through stabilization Review and approve invoices and contractor draw requests, ensuring invoices are accurate, appropriate, and that project is proceeding as planned Coordinate and collaborate with leasing and marketing teams before and during the lease up of new projects to ensure execution of the project’s business plan Support the Asset Management and CIO in structuring project level and/or any programmatic financing structures associated with the communities by communicating consistently about upcoming projects, working with external and internal capital markets advisors, and staying abreast of market conditions Other duties, as assigned by supervisor or leadership team.Why work for Maymont Homes ?
Our Mission – “We Positively Impact the Lives in the Communities We Serve”. We do this through the work we do and the volunteer efforts that the company sponsors. You can make a difference in your community while you work
Outstanding benefits package – our benefits are provided by Brookfield and offer immediate 5% match on the 401(k) plan, wellness credits that significantly reduce the employee cost for health care coverage, and up to 160 hours of PTO per year for full time employees.
Huge parent company – support and backing from Brookfield Asset Management, one of the largest real estate asset management companies.
Career growth – with our plans for growth and expansion into new markets, there are many opportunities to move up within the company.
#MYMT
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