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Director of Development - Multifamily (Bethesda, MD)

Salary
Competitive
Employment
Full Time
Work Place
Office
Real Estate Field
Location
Bethesda
 MD
Postal Code
20814
Country
United States

This job is no longer active.

Description


Position will support Managing Director in the sourcing and development of market-rate Multifamily project(s) from concept to disposition in Bethesda, MD.

Essential Functions 

  • ESSENTIAL FUNCTIONS

    • Research and gain familiarity with target markets. Tour competitive market area properties
    • Assist in identifying and reviewing land opportunities, creating conceptual analysis, and drafting LOIs
    • Execute all due diligence for new deals
    • Assist the pre-development team with planning, analysis and budgets
    • Provide periodic project updates, including financials, schedule and other applicable specifics, to Crescent leadership.
    • Assist in the coordination, preparation, and presentation of investment proposals to the Investment and Executive Committees
    • Maintain key relationships with local and national brokers, land owners, developers, and contractors to utilize their knowledge and experience regarding market dynamics, construction pricing, and new development opportunities
    • Develop/maintain relationships with equity and debt partners
    • Develop/maintain database of qualified design team members, general contractors, subcontractors, and consultants
    • Maintain relevant knowledge of new/quality materials, changes in building codes, processes and methods of construction
    • Develop appropriate measures to manage development risks
    • Manage project budgets and complete periodic reporting as required by Crescent leadership, equity and debt partners, including status updates and budget reconciliations
    • Protect Crescent's rights by submitting timely notices to all land owners, financial partners, team members and general contractors in the case of damages, delays, or scope changes as required by law and contracts
    • Coordinate/complete design and project visioning processes
    • Verify/obtain government/county/city approvals and permits
    • Initiate/obtain approval of required utility systems, secure capacity assurance, and secure access agreements
    • Lead all development projects in the Region as the owner’s representative; Oversee compliance with development schedule; ensure development is completed within approved budget
    • Conduct job site visits/inspections with design team members and general contractor on a regular basis to review safety, quality control, adherence to schedule, design intent, cleanliness, and budget
    • Ensure that the project delivery is phased appropriately, well-coordinated and executed to company standards
    • Develop/coordinate plan for punch-out/turnover of each development from construction to operations
    • Work closely with in-house Asset Management and Marketing teams to coordinate policies and procedures with designated third-party property management team during lease-up
    • Oversee and monitor lease-up progress and report regular status updates to Crescent leadership
    • Assist in potential disposition or recapitalization of assets

    JOB REQUIREMENTS AND QUALIFICATIONS

    Education and Experience

    Minimum:

    • Bachelors degree in business, finance, real estate development, or related field
    • 7-10 years minimum experience required with a minimum of 5 years of related real estate or development management experience leading multifamily projects, including complex and mixed-use developments
    • Proven ability to design, develop and fully execute successful multifamily communities
    • Exceptional financial acumen
    • Strong interpersonal, negotiation, and communication skills
    • Demonstrated project management skills
    • Ability to deliver projects on time and within budget
    • Proven experience building and sustaining relationships with internal and external partners
    • Currently live in, or be willing to relocate to Bethesda, Maryland
    • Advanced computer skills using Word, Excel, Outlook, PowerPoint, Teams, Zoom, and Bluebeam Revu
    • Excellent writing skills and the ability to organize and present complex information in a clear and concise manner

    Desired:

    • MBA or Masters in Real Estate or other related field strongly preferred
    • Extensive Bethesda market experience strongly preferred

 PHYSICAL DEMANDS

  • Communicate and converse to exchange information
  • Operate a computer keyboard, phone, calculator, and other office equipment
  • Seeing to read a variety of materials and observe a variety of development and construction activities
  • Must be able to remain in a stationary position for extended periods of time
  • Must be able to transport 10-25 lbs (computer, files, etc.)
  • Must be able to move about the office to access file cabinets, office machinery, etc.
  • Must be able to maneuver on a job site for extended periods of time

OTHER INFORMATION

  • Normal office environment with exposure to personal computer monitor and frequent use of a keyboard
  • Project site exposure to dust, miscellaneous allergens, sunlight, extreme temperatures (hot/cold) and other natural and environmental exposures, machinery, etc.
  • M-F, 8:30 am – 5:30 pm (alternate schedule may apply)
  • Reliable means of transportation
  • Ability to travel to field locations and stay overnight as required
  • Ability to work early and/or late hours and weekends as required

DISCLAIMER

This document describes the position currently available and serves only as a summary of the typical functions of the job. It is not an exhaustive or comprehensive list of all possible job responsibilities. Tasks, responsibilities, and duties of the jobholder may differ from those outlined. Other duties, as assigned, might be part of the job. It is not an employment contract. Our company reserves the right to modify job duties or job descriptions at any time.

Crescent Communities LLC is an Equal Opportunity Employer.
Crescent Communities LLC Participates in E-Verify.
 

Job Sector


Not specified

 

Experience


5+ to 7 years


This job is no longer active.

Development Bethesda Full Time MD Development, Project Management, Due Diligence Director of Development - Multifamily (Bethesda, MD) other