What are the responsibilities and job description for the Development Manager position at Lotus Company?
Development Manager
Background
Lotus Company is a venture capital and real estate development company with close to $1B of projects in the pipeline. We are seeking to grow our development team with the addition of a Development Manager (“DM”) who has experience in running teams that are involved in due diligence, project management, permitting and entitlements, design, draws, and working with budgets and vendors.
The ideal candidate will have experience with the fully multifamily development process and have a passion for creating great places and actively contributing to the development of quality assets.
Job Description
The Development Manager will be focused on multifamily projects, both market rate and LIHTC, currently in the pre-development process. The DM will be responsible for overseeing the day-to-day development activities of their assigned projects including execution of due diligence, entitlements, design, permitting, partner reporting, oversight of construction management and administration, and project transition to asset management operations. They will work closely with various stakeholders, including architects, contractors, and government agencies, to ensure the successful completion of real estate ventures. In addition, this position will direct Development Coordinators.
Responsibilities
The Development Manager’s responsibilities shall include assisting with the following:
- Assisting the Director of Real Estate Development with the supervision of development team members including providing guidance throughout the project management life cycle, reviewing project update reports, and ensuring budget and schedule adherence across the development portfolio
- Site evaluation for concerns relating to seismic, flood plain or FEMA, geologic hazard, HMA/HMI, GMHA, or geotechnical items and/or issues.
- Site evaluation for surveying and title related issues including boundary line constraints, easements, setbacks, exceptions, etc.
- Site evaluation and entitlement procurement for city approvals, allowances and/or constraints including zoning entitlements, building department/code compliance, fire department approvals, city engineering/public works approvals, etc.
- Bid/proposal solicitation, procurement, and oversight of design firms, engineering firms, testing agencies, etc.
- Coordination of Lotus Design Services and integration of interior designer scope, and Form Finishes componentry integration.
- Schematic Design and Design Development coordination and involvement including implementation of Lotus project design standards, project specification and materials assessment, implementation of lender or governing authority requirements and/or standards (i.e. UHC, HUD, RMCRC, OWHLF) design development procurement, Lotus Design Services implementation & FF&E assessment/integration, etc.
- Ongoing evaluation of project cost and pro forma cost constraints, value engineering, progressive cost assessments, etc.
- Involvement with general contractor RFP and/or bid solicitations, contractor selection, prime contract execution, NTP, etc.
- Involvement and/or oversight of development-related vendor invoice approvals, development cost estimates and schedules, etc.
- Involvement with Lotus’ construction administration scope including general contractor scope execution, design CA involvement and services, draw request involvement, change order involvement, owner subcontractor services, etc.
- Solicitation and procurement of project OFOI, OFCI, and owner FF&E items and components.
- Quality control and punch-list administration for Lotus acceptance.
- Project warranty administration
- Other duties as assigned
Required Experience
- A minimum of Four (4) years related work experience as an analyst, or development associate in the multi-family industry is preferred
- Experience directing support staff
- Experience creating and adjusting development pro formas
- Understanding of working components of contracts, with the ability to negotiate elements
- Strong working knowledge of Microsoft Office products (Word, Excel, PowerPoint, Outlook, etc.)
- Experience in interfacing with general contractors, senior management, architects, engineers, city planning staff, and regulatory agencies
- Must be proactive, well organized, possess attention to detail, project and goal focused, results oriented, accountable, and collaborative/team oriented
- Strong organization and presentation skills required
- Must be willing to travel to job sites in Utah and the Intermountain West as well as other locations as duties require
Required Education
Bachelor’s degree in business, finance, or real estate. Master’s Degree a plus.
Compensation
Job Type: Full-Time
Pay: Up to $135k DOE, with discretionary bonus
Location: 215 S. State St., Floor 13, Salt Lake City, UT
Benefits
- Eligibility for Lotus Company’s employee benefit package including health, dental, and vision insurance, where eligibility begins 30 days after employment.
- Paid Time Off (PTO) – 15 Days as accrued throughout year.
- 10 Paid Holidays as detailed in Lotus Holiday Calendar.
- 401K enrollment (dollar-for-dollar match for the first 3% of salary differed and 50% contribution for the next 2% of salary deferment – with a minimum 6-month employment required prior to enrollment)
- Eligibility for discounted rental rates at Lotus-owned apartments
Salary : $135,000
