Director, Development

Job 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 pre-construction and reviews and resolves Geotech, Environmental and Land Use matters.
• 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 expediters, 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.
• Makes recommendations to equity partner for approval of any improvements or upgrades that would benefit the project based on current market comps and design.
• Works closely with the property management team to finalize budgets and project design plans, accepts units from construction on behalf of Owner and ensures all aspects of the project adhere to Company development standards.
• Works with the asset management and operations team on preleasing activity and relevant milestones.
• Supervises development production team members and managers by interviewing, orienting, training and mentoring employees, and managing their performance in accordance with Company policies, values, and business practices.

Qualifications

• 5+ years of experience in real estate development.
• A bachelor’s degree is required in Finance, Business, Real Estate, Economics, Construction, Architecture or related field. A master’s degree is preferred.
• Dynamic verbal and written communication skills and strong interpersonal abilities.
• Strong analytical and quantitative skills, with excellent financial acumen and high proficiency with real estate underwriting and real estate finance concepts.
• Maintains departmental progress and improves and adapts systems and services to drive results.
• Promotes a strong customer-centric culture within the department to support seamless service and trust in Greystar as a reliable partner.
• Learns with passion, defines the vision and facilitates the development of their team.
• Demonstrated knowledge of the market dynamics within assigned region.
• Track record managing local community and political relations.

Pay

The salary range for this position is $170,000 - $200,000. Additional Compensation Many factors go into determining employee pay within the posted range including business requirements, prior experience, current skills and geographical location. Corporate Positions: In addition to the base salary, this role may be eligible to participate in a quarterly or annual bonus program based on individual and company performance. Onsite Property Positions: In addition to the base salary, this role may be eligible to participate in weekly, monthly, and/or quarterly bonus programs.

Benefits

Competitive Medical, Dental, Vision, and Disability & Life insurance benefits. Low (free basic) employee Medical costs for employee-only coverage; costs discounted after 3 and 5 years of service. Generous Paid Time off. All new hires start with 15 days of vacation, 4 personal days, 10 sick days, and 11 paid holidays. Plus your birthday off after 1 year of service! Additional vacation accrued with tenure. For onsite team members, onsite housing discount at Greystar-managed communities are available subject to discount and unit availability. 6-Week Paid Sabbatical after 10 years of service (and every 5 years thereafter). 401(k) with Company Match up to 6% of pay after 6 months of service. Paid Parental Leave and lifetime Fertility Benefit reimbursement up to $10,000 (includes adoption or surrogacy). Employee Assistance Program. Critical Illness, Accident, Hospital Indemnity, Pet Insurance and Legal Plans. Charitable giving program and benefits.