Director of Development (Multifamily Real Estate)

Jefferson Apartment Group is headquartered in McLean, Virginia and provides development, acquisition, construction, property and asset management services for private and public property owners, joint venture partners, and for its own portfolio. We are a company dedicated to our employees and believe that success begins with hiring the best people. Our commitment to top performance has created a dynamic, energetic atmosphere that impacts every aspect of our business.

The Director of Development will execute and oversee all aspects of project development, including sourcing and analyzing new development opportunities, site selection and analysis, managing feasibility and due diligence activities, as well as managing the full design, site planning, pre-construction, and construction processes.

The Director of Development will be highly skilled at interpersonal communication (verbal and written) at all levels within the organization and can put forth a compelling and inspired vision or sense of core purpose for the team. Strong ability to enhance value through creating, managing, and surviving change is important. Comfort with supporting change as one of the key business challenges for overall JAG success is critical.

We will be seeking:

The ability to identify and nourish teams for success through:

• Selecting and developing talent
• Building high-performance teams
• Mentoring
• Coaching

Commitment to embracing and upholding JAG’s culture, strategic objectives, and JAG Principles including:

• Integrity
• Customer Focused
• Team Approach
• Respect for Others

ESSENTIAL FUNCTIONS:

• Perform financial analysis and underwrite projects based on JAG’s investment parameters ensuring accuracy of all modeling, including project structuring, funding, cost estimates, project pro-forma, and other modeling.
• Prepare and present project documents to Investment Committees (internal and external) for approvals.
• Review construction pricing and contracts.
• Identify, hire, and supervise Consultants (architects, engineers, attorneys, specialty consultants, etc.), including negotiating contracts and other agreements.
• Lead project initiation, including site selection and analysis, financial feasibility, schedule and budget preparation and interface with brokers, legal counsel, appraisers, title companies, and city planners.
• Direct due diligence including planning, design, entitlements/approvals, processing permits and approvals and project-wide coordination between all members of the development team including Consultants.
• Perform and coordinate market research, including market survey and demographic data analysis.
• Coordinate with property management and asset management to determine unit mix and sizes, unit amenities, project amenities, marketing, and operating lease-up budgets.
• Coordinate senior management approvals of site plans, elevations, floor plans, interior design, and landscape presentations.
• During construction: Monitor construction; provide direction to project team on design-related issues (including floor plans, site plans, building plans elevations and project amenities); process RFI’s; track hard and soft cost change orders; monitor and document project costs.
• Conduct development meetings with all Consultants.
• Prepare monthly progress and financial reports for Owner and Investor(s).
• Monitor overall property business plan, marketing plans and lease-up.
• Partner with direct reports to help them achieve career goals and develop skills of team members.

EDUCATION AND EXPERIENCE:

• A college degree (real estate or finance preferred). MBA or graduate degree preferred.
• Ten years’ experience in luxury residential development with an owner/developer, investor, or similar firm.
• Minimum of 5 years in a senior management position, preferably in a production-oriented role.
• Experience in the development of diverse and complex projects.
• Excellent written and verbal communication skills.
• Ability to read construction drawings.
• Computer literacy skills.

OTHER CONSIDERATIONS:

• A fearlessness with getting things done and moving the business.
• A discipline for meshing strategy with reality, aligning people with goals, and achieving promised results.
• Capability to manage pressure and challenges while leading the team out of its comfort zone into the future.
• Being personally effective and influential despite challenges and pressures.
• Follows JAG’s “Management by Facts” principle in judgment and problem solving.
• An elevated level of discernment, use of experience, analysis, and judgment to ensure sound and effective decisions.
• Understanding complex and variable business transactions.

PHYSICAL DEMANDS:
The physical demands and work environment characteristics described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Physical demands: While performing the duties of this job, employee is required to walk frequently; sit frequently; use hands to handle, or feel objects, tools, or controls frequently; reach with hands and arms; talk and hear and communicate with speech clarity continually; climb, balance, and stoop, kneel, and bend occasionally. Employee must lift and/or move 15 pounds occasionally.
Work environment: Setting typical of a business office. This is an in-office position.

We offer a competitive salary and excellent individual and team performance-based bonus potential. In addition, a comprehensive benefits package is offered to all full-time employees with medical, dental, and vision coverage, paid vacation and sick leave and rental discounts. Join a growing company with tremendous growth opportunities. EEO MFDV.