Director, Development

Greystar

Sacramento, California
Full Time
$170,000 - $200,000

About the role

Sources and manages the pipeline of development pursuits for the assigned Region from cradle-to-grave. Manages all activities related to new development projects to achieve the established financial and growth targets, including completing initial land acquisition due diligence, facilitating the underwriting, and closing of real estate transactions and managing third party consultants through the project design and construction process.

Responsibilities

• Manages the due diligence process on land opportunities and develops documentation and recommendations on key findings that may affect the return and financial performance of the proposed deal.
• Prepares detailed investment memorandums and authorizes their submission.
• Provides insight on the proposed projects to the Company’s Investment Committee including detailed pro-forma and financial models and pursuit cost budgets.
• Supports the negotiation of sale and purchase agreements for approved projects. Issues letter of intent (LOI), negotiates PSA and ensures compliance with venture and loan documents.
• Establishes finish schedule for preconstruction and reviews and resolves Geotech, Environmental and Land Use matters.
• Directs third party relationships to complete project design concept and building plans in accordance to approved scope of work. Coordinates modifications for the project accepted during final pricing prior to closing to ensure they are incorporated in Construction Documents.
• Reviews and approves all soft cost expenses to ensure consultant completion of work and cost are in line with project budget and finalizes cost classification memos.
• Manages the detailed development budget, makes FF&E selections and approves fitness center, pool, and FF&E budgets.
• Coordinates with consultants, permit expeditor, and construction team to ensure all municipality requirements permitting and jurisdictions are met. Ensures any governmental and jurisdictional issues are addressed and resolved with the assistance of consultants and construction team.
• Administers the Development and Construction Status Report (DCSR) process. Monitors and reports on the status and progress of proposed development pipeline project, recommending critical timelines and deadlines for tasks and activities related to the proposed transaction, and identifies and communicates issues or problems that could adversely affect closing.
• Represents ownership in all aspects of the development process.