TITLE: Director of Development
LOCATION: Newport Beach, CA
MIG Real Estate (“MIG”) is a private real estate investment firm located in Newport Beach, California. MIG owns and operates over $2 billion of real estate investments in multi-family, office, hotel, retail, and industrial properties located in the Western U.S. and sun belt states.
We are seeking a Director of Development who will source, analyze, entitle and oversee pre-development and development of new and existing properties in the Western U.S. The Director will be responsible for financial feasibility, entitlements, conceptual design, feasibility, and associated tasks related to developing ground up multifamily and mixed-use projects. This individual will work with all project stakeholders to complete the entitlement process within agreed upon timelines.
- Evaluate the feasibility of developing new projects and redeveloping real estate owned through initial product identification, analysis of entitlement probability, financial and market data, execution feasibility, engineering, land use, architectural, and environmental compliance.
- Oversee design work: researching zoning and municipal requirements, 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).
- Prepare detailed entitlement and construction schedules, project pro-formas and budgets.
- Complete entitlement process, including representation at hearings and neighborhood meetings, work closely with municipal personnel, local officials, attorneys, planners, architects, engineers and other consultants.
- Obtain all environmental permits.
- Coordinate design review with development consultants, including architects, landscape architects, engineers, etc.
- Coordinate with construction teams to ensure a smooth project handoff in a timely manner.
- Evaluate and contribute to design and construction assumptions to add greater value to projects.
- Draft and update monthly development reports for distribution.
- Facilitate preparation of the investment committee memorandums to obtain project approval.
- Manage and maintain up-to-date proformas that accurately reflect the project budget, schedules and expenses.
- Challenge construction teams to value engineer the project based upon the “adding value” stated goals.
- Bachelor’s degree with MBA, MRED, or civil engineering degree is preferred, but not required.
- Minimum 5 years’ experience in multifamily development and/or redevelopment with a successful project track record.
- Strong understanding of land use, entitlement, and development process, including title, zoning, surveys, general plans, and environmental policies.
- Working knowledge of Western U.S. multifamily markets, as well as in-depth knowledge of specific neighborhoods.
- Strong working knowledge of real estate investment principles, and finance.
- Solid analytical skills and ability to multi-task in a constantly changing environment.
- Strong verbal, written and interpersonal communication skills.
- Disciplined, organized, flexible, productive, works well independently and within a team.
- Experience overseeing consultants and critiquing consultant work product.
- Proficient in Excel, Microsoft Project and/or comparable scheduling software
- Hospitality / Entertainment
5+ to 7 years
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