Development Executive

Position Summary  

The Development Executive is responsible for the execution of multi-component real estate development projects on behalf of the project owner to ensure that the desired project objectives are delivered. As the Owner representative, the Development Executive will be responsible for management of new construction and renovation development projects from concept through stabilization. The core development projects will be multifamily apartments. The target population will vary by project and will include conventional unrestricted workforce, moderate to low-income, and age restricted populations.  The projects will use a variety of financing mechanisms, including conventional debt and equity as well as government sponsored sources such as tax incentives, tax-exempt bonds, and Low-Income Housing Tax Credits sources. The Development Executive has the authority, within the policies and procedures of the Company, over all aspects of the projects assigned.   

Core Duties and Responsibilities 

This role will require the Development Executive to coordinate the development team of professionals, secure land acquisition, provide site design recommendations, perform financial due diligence, and complete loan closings. To perform this job successfully, an individual must be able to perform each duty satisfactorily.   

Essential Job Functions 

Essential functions for this position relate to the responsibility of oversight of development functions of assigned projects, which include but are not limited to: 

• Participates in the identification, feasibility analysis and negotiation of real estate acquisitions 
• Sources and analyzes the feasibility of potential development sites and evaluate associated development schemes 
• Conducts market analysis by accumulating statistical and narrative information on new markets considered for entry 
• Travels to new and current markets to collect market data and evaluate for clients, and hiring and managing brokers 
• Lead the negotiation of development agreements through municipalities; if applicable 
• Lead the negotiation of site control with the business terms appropriate for the type of project contemplated 
• Leads all aspects of pre-development including feasibility analysis, negotiation of the development agreements, and negotiation of terms for site control 
• Collaborates with Construction Manager (CM) to act as liaison between local officials and design team including the GC to obtain all necessary approvals and permits 
• Represents the organization and the projects in public and private meetings with principals, civic bodies, community groups, financial investors and political representatives 
• Partners with CM to identify, engage, and manage full team of design consultants while providing design recommendations in line with federal, state, and local regulations 
• Identifies, engages and manages market analysts, counsel, appraisers, environmental consultants, surveyors, accountants, and other third party consultants as needed 
• Coordinates with VP of Operations to cultivate relationships with investors, project consultants, and local agencies 
• Coordinates with VP of Operations to negotiate project specific contracts with professional consultants  
• Prepares and updates master project schedule 
• Coordinates project entitlement and tax abatement applications 
• Works with VP of Finance to identify and secure financial resources necessary to implement and fund the development master plan 
• Prepares, monitors and updates development pro-forma and perform financial due diligence as project details and market conditions change  
• Coordinates the preparation of financing applications and packages for private debt and equity, low income housing tax credits, tax exempt bonds, and other public and private sources of funds 
• Coordinates the closing process for acquisition, construction, and permanent loan financing  with lenders, investors, and their counsel  
• Supervises and assists in pre-closing activities, including obtaining due diligence, responding to requests for information, and coordinating with administrative staff to disseminate information 
• Leads project meetings, including design review, internal milestone, and partner meetings 
• Attends design and construction meetings, along with the assigned Construction Manager, to ensure construction progress and help resolve outstanding issues, as needed, including site inspections at least quarterly 
• Reviews construction potential change orders and provides direction to CM on response 
• Approves vendor invoices, reviewing invoices against contracts, and coordinates the selection of vendor payments 
• Reviews and approves monthly dr