Development Director Responsibilities:
• Conduct due diligence for potential new projects and investment opportunities.
• Lead assessment of the project’s financial and market feasibility.
• Prepare project underwriting budgets and schedules.
• Process and obtain all project approvals as required by zoning, planning, building, and applicable permits, established industry standards, and governmental codes, rules, and regulations.
• Ensure that the design and development of plans meet approved underwriting performance goals and tenant requirements.
• Prepare scopes of work for architect, engineering, and consulting services; solicit and award proposals; and manage the required work.
• Prepare contracts for projects, including insurance requirements and schedules, to meet company obligations and project requirements.
• Direct architects, engineers, consultants, lenders, and legal counsel to develop plans and information to meet project schedules and requirements.
• Collaborate with the construction team on the development of construction cost budgets, schedules, and construction/delivery plans for each project.
• Collaborate with the finance team to prepare project budgets and income projections, monitor and project monitor budgets and income projections as necessary to reflect market conditions and data, and manage project costs within the approved budgets.
• Represent the company as appropriate in the land use and permitting processes.
• Work with the construction team on the transition of projects from predevelopment design and permitting activities to construction, completion and delivery/turnover.
• Work with the leasing and asset management teams in preparation of lease proposals and negotiations for development projects.
• Ensure timely recognition of potential issues, thoroughly investigate the cause and effect of potential problems and opportunities, and assess key factors to enable senior management to make informed decisions on development projects.
• Prepare and implement appropriate and adequate action plans to resolve potential problems and opportunities with minimal interruption to project business plans.
• Represent Penzance in a professional manner at all times. Consistently maintain a professional, courteous attitude when dealing with others, including consultants, contractors, tenants, public officials/employees, residents, coworkers, and the general public.
• Receive and update project and company budgets, proformas, cost reports, income and expense assumptions and projections, competition analyses, and market information on both existing projects and potential projects during acquisition pursuit and in due diligence.
Job Qualification Requirements
• 12+ years of experience of proven office, multifamily, and/or mixed use development experience in the DC metro area.
• Demonstrated experience and responsibility with the full cycle of development process.
• Superior organizational skills.
• Keen attention to detail.
• Excellent oral and written communication skills.
• Undergraduate degree required, graduate degree preferred. Degrees in architecture, engineering, business, and real estate planning preferred.
Equipment and Software
• Computer proficiency (Outlook, Adobe/Bluebeam, Argus, Word, Excel and Microsoft Project; Primavera and/or Sure Track preferred).
Valid driver’s license and good driving record, along with auto insurance, required.
Some travel within assigned regional required.
Physical and Visual Activities
• Ability to interpret, evaluate, and communicate detailed written or verbal instructions to others accurately and quickly, including answering phones, attending meetings, and in written correspondence and other forms of communication.
• Ability to communicate effectively (expressing or exchanging ideas by means of the spoken or written word). This skill/ability is important in work activities in which workers must impart or receive detailed information through oral or written communication.
• Ability to lift, push, pull, or carry up to 25 pounds for the dissemination of supplies, materials, etc. to various locations throughout the office and/or job-sites.
• Ability to visit and observe undeveloped land, projects under construction, unoccupied and occupied properties to conduct inspections and due diligence activities.
10+ to 15 years
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