Development Partner

Development Partner

General Role Description

The Development Partner is responsible for sourcing consistent targeted multifamily residential for-sale, mixed use, and for lease development projects.  The Development Partner must be self-motivated and driven to continually analyze and pursue targeted and opportunistic real estate development opportunities.  The position requires an extensive network of residential real estate brokers, commercial brokers, wholesalers, lenders, title companies, and overall expert understanding of local real estate. 

This position reports to the President and has direct supervisory responsibilities.

High Level Key Responsibilities
Ability to strive in an entrepreneurial environment, must be a self-starter
Ability to manage several processes in deadline-driven environment
Ability to effectively interface with equity partners, lenders, tenants, and consultants to get          timely and cost-effective results
Work with land-use planners, architects, engineers, consultants, and others to design a project to the property’s highest and best use
Coordinate internal team members to fulfill the development process and procedures
Coordinate with asset manager to plan and execute sales or leasing strategy
Lead due diligence process
Source and analyze new investment opportunities; present to investment committee projects that have been fully vetted and meet HDC’s investment committee hurdle requirements
Responsible for ensuring timely and accurate performance of the development process and procedure outline
Responsible for accurate and timely land and property closings
Negotiate land purchase contracts and all development consultant contracts
Seek out design and construction teams (, etc.) and negotiate and execute construction contracts to coincide with development plan timelines
Review and coordinate approval of bank draws to ensure timely payments to vendors
Accountable to ensure complete and timely debt and equity closing documentation are ready as necessary for financing and re-financing activity
Accountable for project schedules, annual budget, and strategic plan for assets and initiatives under their responsibility
Accountable to provide monthly project updates to project partners
Accountable to ensure timely payouts of preferred returns, equity, and profit and to ensure all tax matters are timely attended to
Accountable for project proformas that accurately represent the expected time, costs (hard and soft), revenues, and KPI’s for each project development.  make presentations to lenders and potential equity partners as required as necessary to fulfill other aspects of the role
Accountable to ensure project proforma’s and budgets are achieved
Ability to produce an effective and compelling Equity/Debt offering package
Accountable for raising necessary LP funds and closing to coincide with land and construction financing
Accountable for soliciting project debt in a competitive process and raising and closing project debt instruments to timely coincide with project land and construction financing

Requirements
Bachelor’s degree in Real Estate, Real Estate Development, Engineering, Construction, Architecture or related field with an advanced degree in Business/Management/Finance/Construction Management or a related field preferred 
A minimum of 5 years of experience in the direct management of complex real estate projects with responsibility for site analysis, permitting and approvals, budget control, estimating, design and construction coordination, and project scheduling
Ability to act independently and proactively, multitask and thrive in the busiest of environments
Excellent verbal and written communication skills
Creative problem solver that effectively works across teams
Self-motivated with a high level of initiative and a sense of urgency
Demonstrates respect, professionalism, flexibility and open-mindedness; maintains confidentiality at all times
Committed to expanding internal capacity through continuous learning and professional development

Compensation
Competitive Annual Salary
Compensation Ownership stake in each project developed.
Benefits:
- HSA and PPO Healthcare Plan(s)
- 401k + Company Match
- PTO
- Tuition Reimbursement
- Health Club Membership
- Parking