Development Manager

Macdonald & Company is pleased to be partnered with a well-regarded Commercial Development & Investment firm to add a Development Manager to their team in Houston focused on their Multifamily pipeline.

Summary:

Provides day-to-day management of Multifamily development projects throughout underwriting, due diligence, design and construction, and project lease-up. Coordinates with consultants during the due diligence and construction phase of projects, and often interacts directly with equity partners, lenders, and property management and asset management teams.

Responsibilities:

• Reviews financial analysis of development opportunities, including creating detailed proforma and financial models.
• Oversight of market data analysis, preparation of narrative investment memoranda, detailed reports, and market summaries that provide insights on proposed projects.
• Coordinates closely with lenders to ensure an efficient closing process by handling and organizing documents and interfacing with legal counsel.
• Participates in the due diligence of development sites under contract and prepares documentation on key findings that may affect the return and financial performance of the proposed deal. Works closely with the consultant team to solve issues and permit the project in a timely manner before construction start. Reviews and resolves title and survey matters and reviews and marks up plans.
• Collaborate with the development team, property management and consultants to approve floor plans, signage plan and design of the building.
• Assists with the consultant engagement and direction to complete project design and solve any issues to receive permits in timely manner.
• 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.
• Prepares reports and updates for equity partners and lenders and coordinates with the finance team to assist with potential equity and debt sources questions.
• Represent ownership on day-to-day project management activities including OAC meetings and jobsite visits, including attending mockups, box walks and FF&E installs.
• Prepare project reports and budgets. Review fitness center, pool, and FF&E budgets.
• Coordinate directly with architect, contractor, counsel, and project consultants.

Qualifications:

• 4 years of experience in multifamily development, finance, construction, or architecture.
• A bachelor's degree is required in finance, business, real estate, economics, construction, architecture, or related field. Master’s degree is preferred.
• Attention to detail and exceptional creative problem-solving skills.
• Proficiency in Excel and financial modeling skills, with advanced knowledge of cash flow forecasting and waterfall distributions.
• Highly motivated self-starter with strong organizational, time-management and project management skills to effectively track, report, and manage multiple projects and priorities where meeting deadlines is critical.
• Excellent interpersonal and relationship-management skills to establish, cultivate, and maintain productive relationships with brokers, institutional and equity partners, owners, and lenders.
• Advanced written and communication skills with professional presentation and public speaking ability.