The Role. The Development Manager position will report to the area Managing Director and will focus on multifamily development activities in the San Francisco Bay Area. The candidate will be responsible for a variety of project management duties including the preparation of financial models and proformas, analyzing the feasibility of residential development projects, the creation of investor/lender presentation packages, coordinating and directing development team consultants and assembling and presenting market research information, coordinating with capital partners and various other tasks.
The Development Manager will also be responsible for assisting in the preparation and tracking of budgets and project proformas to ensure that development projects are completed on schedule, within budget and in compliance with the terms of joint venture and loan agreements. The candidate will be an integral part of large development projects in all aspects of the business, including direct coordination with the project operations, financing, and construction.
The office is a dynamic, entrepreneurial environment - the successful candidate must be a team-oriented, proactive, self-starter with an eagerness to learn and grow, and have passion for the real estate development process.
The Key Responsibilities.
Evaluate potential new development sites from for zoning, market and financial feasibility
Conduct detailed market surveys and perform quantitative and qualitative analysis of competitive landscape
Underwrite the value of multifamily real estate development projects by developing and applying quantitative analytical models
Participate in conducting and managing the due diligence process on targeted development projects
Collect and integrate project data, including construction cash flow requirements, operating income and expense projections and financing assumptions for project proformas
Compose written and graphical summaries and memorandums regarding potential development projects for internal and external presentation
Interface and negotiate with governmental jurisdictions on entitlement and zoning issues
Assist in managing monthly draw processes
Track job cost against budget and report to management on projected savings or overruns
Understanding of the real estate and development industry
Effective organizational, prioritization and time management skills
Excellent verbal, written and presentation communication skills
Ability to work independently with minimal supervision, and to push need-to-know information upstream as warranted
Strong aptitude for building and manipulating financial models
A minimum of 3-5 years in real estate investment & finance, development, law or design/engineering.
Bachelor's Degree with strong academic performance required
Knowledge of the Greater San Francisco real estate market
Knowledge of key financial concepts and metrics as they relate to the multifamily real estate industry, including capitalization rates, internal rates of return, cash-on-cash returns and others.
Understanding economic indicators as they relate to valuing multifamily real estate.
Proficiency in MS Excel, Word and Project is required.
Alliance Residential Company is a fully-integrated multifamily real estate operating company focused on the development, acquisition, construction and management of residential and mixed-use communities in the United States. Headquartered in Phoenix, Alliance has 26 regional offices divided among six regions throughout the U.S. Over the past 13 years, Alliance has become one of the largest private... apartment owners and the 15th largest management company in the nation, boasting a $7.0+ billion portfolio, 59,000 units in 24 metropolitan markets and a presence in 15 states.