Job Summary
Macdonald & Company is partnered with their client, a nationwide developer of Class A multifamily real estate to appoint a Development Director in their Raleigh office.The Development Director will be responsible for assisting with/and executing all phases of the multi-family development process for deals primarily located within the Carolinas Region. Assistance with deals outside of the Carolinas may also be required.
The duties include (but not limited to) execution of development projects, market analyses, financial analyses, site underwriting and budgeting, management of the design and entitlement process including presentation before municipal and other regulatory boards, and participation in the construction/lease up process and internal reporting. In addition, the Development Director will be responsible for frequent communication with the region’s Managing Director, the internal general contractor and various financial partners.
Primary responsibilities will include assessing and underwriting new development opportunities, managing the development process from planning to lease-up, and overseeing all aspects of design and construction.
Development:
- Development Assessment:
- Partner with the Managing Director and relevant teams to evaluate new development opportunities.
- Conduct market research to gather economic and demographic data, rental comparisons, construction cost estimates, and local permit and fee costs.
- Analyze local supply and demand statistics to support informed decision-making.
- Development Process Management:
- Oversee all stages of the development process, including planning, design, entitlement, construction, and lease-up.
- Review civil, architectural, and interior design plans to ensure quality and cost-effectiveness.
- Prepare internal Investment Committee Memorandums and Offering Memorandums for potential debt and equity partners.
- Budget and Reporting:
- Develop, maintain, and monitor project budgets.
- Prepare and present monthly Development Status Reports.
- Build and regularly update project proformas, adjusting assumptions, strategies, and financial forecasts as needed.
A&E Design Management:
- Design Team Oversight:
- Lead the selection of third-party design professionals, including architects, interior designers, engineers, and contractors, ensuring project goals are met efficiently and within budget.
- Track design phase cost estimates, manage open items, and drive value-engineering efforts to deliver projects on time and within budget.
- Contract Management:
- Manage consultant scopes of work, RFP processes, bid evaluations, and contract negotiations, including AIA agreements.
- Ensure seamless coordination between design teams and general contractors on owner-related items such as FF&E, pool furniture, gym equipment, artwork, signage, lighting, and interiors.
Construction Management:
- Site Oversight:
- Act as the owner’s representative throughout the construction process, including regular site visits and participation in Owner-Architect-Contractor (OAC) meetings.
- Facilitate the RFI/Submittal process and review all change orders with the President of Construction.
- Project Handover:
- Collaborate with Asset Management and Property Management to ensure a smooth transition of projects to operational status.
- Develop and execute a detailed commissioning plan and responsibility matrix to support a successful project handover.
