Headquartered in Phoenix, Alliance Residential Company is one of the largest private U.S. multifamily companies with offices throughout the West, Southwest, South-Central, Southeast, Mid-Atlantic, and Northeast. Alliance has invested in more than $10 billion of assets and manages a $15 billion portfolio with a focus on superior local leadership and a comprehensive national support structure. With 35 regional offices divided among six regions throughout the U.S., the firm is an active buyer, builder, and manager across 19 states and 29 metropolitan markets. Additionally, Alliance is the 4th largest multifamily developer in the country and the 7th largest multifamily property management firm.
As a fully integrated ownership, development, and management company, Alliance offers a dual perspective on the industry. As owners, Alliance understands the importance of property performance and return on investment. As managers of over 102,000 units nationwide, Alliance recognizes the value of its associates and embraces the notion that individual success is the backbone of the company’s success. As a result, Alliance focuses on attracting and retaining superior leadership at the local level, augmented by comprehensive training and a national support system.
On the investment side, Alliance sourcing is a coordinated approach between the national and local levels. Extensive market research – coupled with Alliance's expertise in investment, finance, construction and risk management – has resulted in a track record of outstanding investment returns since the company’s inception.
A Day in the Life:
The Development Director will be responsible for “cradle-to-grave” development activities, supporting and leveraging the Managing Director. He or she will support project underwriting as necessary and be responsible for securing entitlements, assembling and overseeing the activities of the design/consultant team, working with Alliance construction professionals to determine project costs, maintain ongoing analyses of budget versus actual costs, manage the schedule, and support marketing and lease up of new multifamily communities.
What You’ll Do:
Land Sourcing, Purchase and Finance:
- Underwrite new potential development opportunities, supporting the Managing Director.
- Prepare and develop initial underwriting analysis, due diligence, initial assessments and Letters Of Intent.
- Coordinate with Construction Team as they compile their initial budgets. Ensure that the budget accurately reflects the development plan, the site issues, and all conditions of approval.
- Contribute to development of Entitlement Strategy and lead in Execution.
- Coordinate to meet all Purchase Contract Dates and deadlines.
- Coordinate all earnest money deposits and cost related items.
- Prepare internal corporate budgets and reporting. Creates and maintains up-to-date proformas that accurately reflect the project budget and expenses.
- Hold and coordinate regular design meetings with consultants.
- Move plans from Schematics through to Design Development.
- Participate in meetings once Construction takes over from Design Development through to Submittal, Permitting and Post Permit Construction Set issuance.
- Oversee Design Coordinator (DC) to ensure the property design and specifications are conceived of, priced, and decided upon in a timely manner.
- Participate in Interior Design, Color Design, and Graphic Design presentations. Responsible for all meetings leading up to and preparing for these formal presentations.
- Lead Landscape Design efforts.
- Coordinate on final design.
- Work with Construction and Landscape Architect to ensure that the design falls within the allocated budget.
- Participate in initial Budgeting process prior to removing contingencies during acquisition.
- Create, in conjunction with the Managing Director and Construction Group, a mutually agreed up Project Schedule.
- Coordinate monthly buyout updates with Construction.
- Participate in regular (monthly) budget updates.
- Ensure that Construction is moving plans through the City on schedule to have permits upon the scheduled date.
- Monitor major change orders.
- Provide design-related decisions that are needed during the construction process in a timely manner in order to not hold up the Construction Team.
- Ensure that weekly reports are updated thoughtfully and sent out on time.
- Review and publish monthly JV Partner reports.
- Review Side-By-Side budgets and project schedules to identify red flags.
- Produce Monthly Variance Reports, approve updates and then ensure that they are loaded into Timberline accurately.
- Review Weekly Leasing reports.
- Review and prepare the Monthly Draw for Construction Loan for signature by the Managing Director. Alliance has a process in which the Construction Team prepares the draw. After the Superintendent reviews the invoices to ensure that subs are billing only for work completed, the Construction Project Manager and Construction Vice President review and sign the draw looking for contract compliance, compliance with State contracting law and insurance compliance, as well as compliance with all firm policies and procedures. The Development Team gets final review to ensure quality as well as compliance with the Development Program, Project Budget and Project Schedule.
Project Lease Up:
- Participates in early strategy sessions.
- Interviews all final candidates for senior on-site staff positions.
- Assist the Managing Director in review and approval of monthly budget draws relating to early-on operating shortfalls.
- Assist the Managing Director in review and approval of all lease rate/concession modifications.
What You’ll Need to Succeed:
Education: The successful candidate will have a strong academic background with a college degree. An MBA or a Masters in Real Estate or other relevant field is strongly preferred.
Experience: Ten to 15 years’ experience in real estate development in the Greater San Fransisco Area. Multifamily or attached residential experience is required.
Specifically, candidates for this position should possess the following career experience/skills:
- A minimum of ten years of real estate development experience in a variety of multifamily product types built for either the rental or for sale markets.
- Significant multifamily and/or mixed-use development experience in suburban and urban infill locations. Recent Greater San Francisco area experience is required.
- Has had responsibility for handling the development process from entitlement, design, construction, and turnover to Property Management.
- Demonstrated leadership and teamwork skills. Experience managing internal and external teams on development projects.
Personal Skills and Attributes:
- Financial acumen; well-versed in completing project pro formas and analyzing deals.
- Demonstrated strong problem solving skills.
- Able to work independently.
- Demonstrated ability to manage a team and work collaboratively within a decentralized organizational environment.
- Excellent organizational and time management skills.
- Interpersonal skills and presence to interact effectively with all constituencies.
- A high-energy team player with “can-do” attitude and ego “in check.”
- Professional in demeanor, actions, and attitude.
What You’ll Receive:
- Professional and upbeat work environment
- Competitive compensation
- Paid training and professional development opportunities
- Generous paid time off including vacation, sick, birthday and volunteer time
- Medical, dental and vision coverage
- 401k program with Company match
- Housing discounts (When available)
- Flexible hours
- Company-paid life insurance
- Short and long term disability coverage
- Team building events
- Associate wellness program
- Regional and National Award programs
- Associate referral program
10+ to 15 years