Director, Capital Projects

Carmel Partners; San Francisco (CA); On-site; USD 195,000 - 210,000; Full time

Job summary

Carmel Partners, a leading real estate investment manager focused on U.S. multifamily development and construction, seeks a Director, Capital Projects in San Francisco or Santa Monica to drive capital project execution across its nationwide multifamily portfolio.

You will coordinate cross-functional teams, oversee budgets and schedules, and ensure projects meet Investment Committee commitments. The role requires 5–10 years in development or capital projects, a strong finance background, and

Qualifications

• Bachelor's degree required; Graduate degree in Business, Finance, Construction Management, or Real Estate preferred.
• 5–10 years in development, capital projects, or construction project management, with multifamily experience.
• Well-rounded background across finance, acquisitions, development, marketing, and construction.
• Proven track record managing project teams and mentoring talent.
• Strong negotiating and influencing skills to build consensus across stakeholders.
• Fluency in financial modeling and real estate economics.
• Advanced proficiency in Excel and Project; strong PowerPoint and Word skills.

Responsibilities

• Manage capital project execution across Carmel Partners multifamily development portfolio.
• Drive project teams across regions, ensuring consistent execution standards and professional development.
• Contribute to due diligence and formalization of Capital Business Plans during acquisitions.
• Translate asset-level business plans into buildable, phaseable project scopes meeting Investment Committee commitments.
• Coordinate across internal teams and external partners including PM, Acquisitions, Design, Operations, Marketing, Construction, Asset Management, and Accounting.
• Flag early when scope, cost, or building condition diverges from pro forma underwriting.
• Direct Owner/Architect/Contractor meetings prior to and during construction.
• Oversee external consultant teams; lead consultant bidding and selection processes.
• Ensure Construction phase meets Investment Committee obligations with in-house Job Cost Accounting and construction teams.
• Establish and maintain design and construction schedules.
• Manage project budgets, schedules, and scope of work.
• Oversee permitting efforts and regulatory agency relationships.
• Prepare and distribute regular reporting to senior management.
• Present portfolio updates and recommendations to senior leadership; escalate key decisions.
• Maintain deep market knowledge to inform Capital Projects strategy and compliance.
• Travel nationally to portfolio assets, up to 50%.

Skills

Financial modeling

Real estate economics

Project management

Leadership

Communication

Education

Bachelor's degree

Graduate degree preferred

Tools

Excel

Project

PowerPoint

Word

Job description

Carmel Partners, one of the nation’s leading specialists in real estate investment management, with expertise in the investment, development and construction of multifamily real estate, is seeking a Director, Capital Projects in our San Francisco or Santa Monica Office.

The Director, Capital Projects, manages national capital project execution across Carmel Partners multifamily portfolio. This role contributes to strategic direction, oversees financial performance, and ensures consistent process, quality, and reporting across all assets. The Director operates with a high degree of autonomy and is accountable for bottom-line results.

What You'll Do

• Manage capital project execution across Carmel Partners multifamily development portfolio
• Drive project teams across regions, ensuring consistent execution standards and supporting professional development
• Contribute to Due Diligence efforts and formalization of Capital Business Plans during acquisitions
• Translate asset-level business plans and acquisition underwriting into buildable, phaseable project scopes that meet Investment Committee commitments
• Coordinate across internal teams and external partners, including Property Management, Acquisitions, Design, 3 rd party Operations, Marketing, Construction, Asset Management, and Accounting
• Flag early when scope, cost, or building condition diverges from the pro forma underwriting
• Direct Owner/Architect/Contractor (OAC) meetings, both prior to and during construction
• Oversee external consultant teams, including architects, engineers, designers, and expeditors, and lead consultant bidding and selection processes
• Directly responsible for ensuring Construction phase of Capital Business Plan meets Investment Committee obligations. This includes project setup and close coordination with Carmel’s in-house Job Cost Accounting and Construction teams, 3rd-party general contractors, and direct subcontractors.
• Establish and maintain design and construction schedules
• Manage project assumptions, including budgets, schedules, and scope of work
• Oversee permitting efforts and regulatory agency relationships
• Oversee preparation and distribution of regular reporting to senior management
• Present portfolio-level updates and recommendations to senior leadership, escalating key decisions as appropriate
• Maintain deep knowledge of Carmel’s markets to inform Capital Projects strategy and ensure regulatory compliance
• Travel nationally to portfolio assets, up to 50% of the time

What You'll Bring

• Bachelor's degree required; Graduate degree in Business, Finance, Construction Management, or Real Estate preferred
• 5-10 years of progressive experience in development, capital projects, or construction project management, with meaningful time in multifamily residential
• Well-rounded functional background across finance, acquisitions, development, marketing, and construction
• Proven track record managing project teams and mentoring talent
• Strong negotiating and influencing skills, with the ability to build consensus across regional and corporate stakeholders
• Fluency in financial modeling and real estate economics
• Advanced proficiency in the Microsoft Office Suite, particularly Excel and Project, with strong PowerPoint and Word skills
• Familiarity with emerging data and analytics tools, with the ability to leverage insights to support asset strategy and operational decision-making
• Excellent organizational and time-management skills, with the ability to manage multiple complex projects simultaneously
• Exceptional communication, presentation, and interpersonal skills
• Collaborative team player who also thrives working independently
• Impeccable integrity and sound judgment

Who you are

• Deep intellectual curiosity and the desire to apply excellent technical skills to drive value and shape investment strategy
• Excellent organization and time management skills - able to manage and execute multiple quantitative projects simultaneously
• Exceptional communication, presentation and interpersonal skills
• Values relationships - thrives in a collaborative team setting as well as working independently
• Demonstrates impeccable integrity and dependable judgment

Compensation and Benefits

Compensation and benefits play a key role in your choice of employer, and our goal is to invest in you and your experience here. You’ll find competitive compensation and a comprehensive benefits package at Carmel.

Base compensation range $195K to $210K. Total compensation for this role also includes a bonus incentive in addition to the base salary. The Company reserves the right to ultimately pay more or less than the posted range and to offer additional benefits and other compensation, depending on circumstances unrelated to an applicant’s sex or other protected status under local, state or federal law.

Choose Carmel

At Carmel Partners, our mission is to create exceptional multifamily communities that enrich lives and neighborhoods.

Founded in 1996, Carmel is one of the nation’s leading specialists in real estate investment management, focusing on U.S. multifamily development and construction, renovation and debt investments. Through its vertically integrated platform, Carmel seeks to achieve superior risk‑adjusted returns across market cycles by investing in relatively supply‑constrained, high‑barrier‑to‑entry markets in the United States.

Visa Sponsorship

Carmel Partners is currently unable to sponsor or assume sponsorship of an employment visa for this role. We require that applicants be authorized to work in the U.S.A.

Inclusion Statement

We are committed to equitable hiring and promotion practices. We lead with integrity and believe in building a diverse and inclusive workplace, rooted in a culture of mutual respect. By welcoming varied backgrounds, perspectives and ideas, we cultivate engagement and a sense of belonging that creates community within, so Carmel can build communities that thrive.

Carmel Partners is an Equal Opportunity Employer, committed to providing employees with a work environment free of discrimination and harassment. Employment decisions are based on business needs, job requirements and individual qualifications without regard to race, color, religion or belief, gender, gender identity, gender expression, sexual orientation, pregnancy and reproductive decisions, family or parental status, national origin, age, disability, veteran status or any other status protected under local, state or federal laws.

This employer is required to notify all applicants of their rights pursuant to federal employment laws.

For further information, please review the Know Your Rights notice from the Department of Labor.