Job Summary
Macdonald & Company are pleased to be partnering with an entrepreneurial firm out of the Southeast to add a Development Director to their Multifamily Development team to be the point person for their growth of Austin & San Antonio markets.Position Summary
The Development Director's primary responsibility is to provide support to the Managing Director in the cultivation and execution of the divisional pipeline, including assisting with the pursuit of new development, market research, site acquisition, due diligence, managing the design process, financing, and zoning. This position also works with the in-house construction manager and the general contractor through the execution and delivery of each project as well as the property management team during lease-up and through stabilization.
Essential Functions/Responsibilities
- Assists in the pursuit of new development, including site sourcing, market analysis, financial feasibility, preliminary due diligence, and capital sourcing.
- Creates proformas for new development including market information, operating expense data, detailed hard and soft cost estimates, and all financing assumptions.
- Leads the programming, product positioning and design for new developments, which includes review of all drawings, coordination of third-party consultants, incorporation of all due diligence materials into design and execution of necessary entitlements and project permits.
- Manages the construction draw process, generates monthly project reports, and reviews each phase of the construction process, including reporting and relationship management with lenders and equity partners.
- Attends OAC meetings and site visits to oversee project execution through the duration of construction.
- Ensures compliance with plans and budgets and communicates to the Managing Director any critical issues.
- Provide counsel and guidance to property management team during pre-leasing, lease-up and project stabilization.
- Work with investment sales brokers, as well as other stakeholders, during project disposition to coordinate sales process and maximize return to investors.
Required Skills
- Leading development of multifamily deals through the full development life cycle.
- Firsthand experience sourcing class-A multifamily deals (preferred)
- Minimum of seven years of experience in multifamily development.
- BS/BA degree in Finance, Economics, Engineering, or related field required.
- Exceptional project management skills with a focus on attention to detail, organizational skills, and ability to multi-task in a fast-paced environment.
- Strong financial background with an understanding of commercial property cash flows, equity waterfalls, and debt structure.
