Carmel Partners is a well-capitalized private real estate firm with expertise in investment and development of multi-family real estate. Our mission is to create high quality communities using innovative ideas and solutions to enhance the value of our investors, associates and residents
We are seeking a Director/VP of Development who will entitle and oversee pre-development and entitlements of new deals in the Southern California market. The Director will be responsible for financial analysis, entitlements, conceptual design, feasibility, and associated tasks related to developing ground up multifamily and mixed-use projects in Southern California. This individual will work with all project stakeholders and Carmel staff to complete the entitlement process within agreed upon timelines.
Who you are
You keep a cool head while managing multiple projects and working under time and other constraints. Others consider you a strong leader, and you understand the value of developing great relationships with clients and colleagues alike. You’re a pro at communicating on and off the page, which comes in handy when you flex your expert negotiating skills. You consider your analytical skills a key part of your success. You always drive for measurable results, and above all you demonstrate impeccable integrity and dependable judgement.
What you’ll do
- Evaluate the feasibility of projects through the coordination of physical and financial due diligence activities. This includes entitlement probability, financial and market analysis and feasibility, initial product identification, environmental studies, architectural, engineering and land use studies, and CEQA analysis.
- Oversees design legwork on new acquisitions: researching municipal bodies and agencies, initial feasibility study (where, what, whom and cost projections), competing products and market analysis (identify products, features, benefits, prices), situation analysis (demographics, economic conditions, unemployment, average income and project feasibility).
- Responsible for the entitlement process, including representation at hearings and neighborhood meetings, working closely with attorneys, planners, architects, engineers and other consultants, and local officials.
- During all phases of the process, obtains input form colleagues and coordinates with development consultants, including architects and landscape architects, engineers, etc.
- Ensures consultants (architects, civil engineers, CEQA, etc.) meet targeted deadlines and budgetary objectives.
- Coordinates and interacts with the Development Execution, Design and Construction teams to ensure a smooth project handoff in a timely manner.
- Prepares and oversees development schedules, project pro-formas and budgets.
- Evaluates and contributes to design and construction assumptions to add greater value to projects.
- Draft and update monthly development reports for distribution.
- Oversees the preparation of the investment packages for Management Investment Committee.
- Manages and maintains up-to-date proformas that accurately reflect the project budget and expenses.
- Challenges construction budgets to value engineer the project based upon the “adding value” stated goals.
What you’ll bring
- Bachelor’s degree with high academic achievement; an MBA, MRED, or other related graduate degree is preferred, but not required.
- Director level: Minimum 3-6 years professional experience in multifamily real estate, entitlement processing and/or real estate law.
- VP level: Minimum of 7-10 years professional experience in multifamily real estate, entitlement processing, and/or real estate law.
- Strong understanding of the land use entitlement framework and process, including zoning, general plans, and CEQA.
- Working knowledge of Southern California multifamily markets, as well as in-depth knowledge of specific neighborhoods
- Strong working knowledge of real estate investment and real estate principles.
- Strong analytical skills and ability to multi-task in a constantly changing environment.
- Strong verbal, written and interpersonal communication skills
- Well-rounded functional background, including finance, acquisitions, entitlements, and development.
Carmel Partners, Inc. is an equal opportunity employer and affords equal opportunity to all applicants for all positions without regard to race, color, religion, gender (including pregnancy), national origin, age, disability, veteran status, sexual orientation, or any other status protected under local, state, or federal law
- Due Diligence
7+ to 10 years