Director, Development

Greystar; Charlotte (NC); On-site; USD 150,000 - 230,000; Full time

Benefits offered by this job

Medical benefits

Paid time off

Housing discount

Job summary

Greystar seeks a Senior Real Estate Development Manager in Charlotte to lead development pursuits from cradle to grave, overseeing due diligence, underwriting, and approvals. You will coordinate with consultants, construction teams, and equity partners to keep projects on budget and on schedule.

Ideal candidates bring a track record in full lifecycle development, sharp financial modeling, and excellent communication across engineering, finance, and operations.

Qualifications

• 5+ years of experience in real estate development.
• Bachelor’s degree is required in Finance, Business, Real Estate, Economics, Construction, Architecture or related field.
• Master’s degree is preferred.
• Experience overseeing the entire lifecycle of development projects from conception through completion.
• Dynamic verbal and written communication skills and strong interpersonal abilities.
• Strong analytical and quantitative skills, with excellent financial acumen and high proficiency with real estate underwriting and real estate finance concepts.
• Leads with passion, defines the vision and facilities the development of their team.
• Track record managing local community and political relations.

Responsibilities

• Manages due diligence on land opportunities and prepares investment memorandums.
• Provides insight to Investment Committee with detailed pro-forma and financial models.
• Coordinates with consultants, permit expeditor, and construction team to meet permits and jurisdiction requirements.
• Ensures Certificate of Occupancy and permits are obtained.
• Monitors development pipeline status, budgets, and deadlines.
• Maintains communications with equity partners and executive team about progress and issues.
• Supervises development production team and conducts performance evaluations.

Skills

Real estate development

Financial analysis

Communication skills

Analytical mindset

Real estate underwriting

Team leadership

Education

Bachelor’s degree in Finance/Business/Real Estate/Economics/Construction/Architecture

Master’s degree preferred

Tools

Financial modeling

Job description

ABOUT GREYSTAR

Greystar is a leading, fully integrated global real estate platform offering expertise in property management, investment management, development, and construction services in institutional-quality rental housing. Headquartered in Charleston, South Carolina, Greystar manages and operates over $350 billion of real estate in more than 260 markets globally with offices throughout North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, managing over one million units/beds globally. Across its platforms, Greystar has nearly $79 billion of assets under management, including over $34 billion of development assets and over $36.5 billion of regulatory assets under management. Greystar was founded by Bob Faith in 1993 to become a provider of world-class service in the rental residential real estate business. To learn more, visit www.greystar.com.

JOB DESCRIPTION SUMMARY

Sources and manages the pipeline of development pursuits for the assigned Region from cradle-to-grave. Manage all activities related to new development projects to achieve the established financial and growth targets, including completing initial land acquisition due diligence, facilitating the underwriting, and closing of real estate transactions and managing third party consultants through the project design and construction process.

JOB DESCRIPTION

Manages the due diligence process on land opportunities and develops documentation and recommendations on key findings that may affect the return and financial performance of the proposed deal. Prepares detailed investment memorandums and authorizes their submission. Provides insight on the proposed projects to the Company’s Investment Committee including detailed pro-forma and financial models and pursuit cost budgets. Coordinate with consultants, permit expeditor, and construction team to ensure all municipality requirements permitting and jurisdictions are met. Ensure any governmental and jurisdictional issues are addressed and resolved with the assistance of consultants and construction team. Administers the Development and Construction Status Report (DCSR) process. Monitors and reports on the status and progress of proposed development pipeline project, recommending critical timelines and deadlines for tasks and activities related to the proposed transaction, and identifies and communicates issues or problems that could adversely affect closing. Represent ownership on day-to-day project management activities including OAC meetings and jobsite visits, including attending mock ups, box walks and FF\&E installs. Address any open issues with construction or consultants requiring owner feedback. Review monthly draw to ensure project is on budget and identify potential savings and overages to the budget including Operating Deficits, Taxes and Interest Reserve. Manages relationships with the construction team to ensure construction projects are completed in a timely manner, designed according to plan and within budgetary guidelines. Works with the team to ensure the development and coordination of quality control procedures. Ensures all required Certificate of Occupancy and permits are obtained. Manages a strong relationship with equity partner and maintains on-going communications with the executive team, equity partners, and other key business leaders affiliated with the project to provide periodic updates on the progress against schedule and budgets, surfaces and resolves issues that may compromise the project delivery schedule or costs, and responds quickly and with urgency to questions, concerns, and requests for information. Provide recommendation to equity partner for approval of any improvements or upgrades that would benefit the project based on current market comps and design. Develops and maintains relationships with local market brokers, institutional and equity partners, lenders, real estate owners, and other key stakeholders, and appropriately manages on-going communications related to proposed development projects. Supervise development production team members and managers by interviewing, orienting, training and mentoring employees, and managing their performance in accordance with Company policies, values, and business practices. Provides regular feedback to team members and conducts annual goal setting and performance evaluations.

Qualifications

• 5+ years of experience in real estate development.


• A bachelor’s degree is required in Finance, Business, Real Estate, Economics, Construction, Architecture or related field.


• Master’s degree is preferred.


• Experience overseeing the entire lifecycle of development projects from conception through completion.


• Dynamic verbal and written communication skills and strong interpersonal abilities.


• Strong analytical and quantitative skills, with excellent financial acumen and high proficiency with real estate underwriting and real estate finance concepts.


• Leads with passion, defines the vision and facilities the development of their team.


• Track record managing local community and political relations.

#LI-KD1

Additional Compensation

Many factors go into determining employee pay within the posted range including business requirements, prior experience, current skills and geographical location. Corporate Positions: In addition to the base salary, this role may be eligible to participate in a quarterly or annual bonus program based on individual and company performance. Onsite Property Positions: In addition to the base salary, this role may be eligible to participate in weekly, monthly, and/or quarterly bonus programs.

Robust Benefits Offered*

• Competitive Medical, Dental, Vision, and Disability & Life insurance benefits.


• Low (free basic) employee Medical costs for employee-only coverage; costs discounted after 3 and 5 years of service.


• Generous Paid Time off.


• All new hires start with 15 days of vacation, 4 personal days, 10 sick days, and 11 paid holidays.


• Plus your birthday off after 1 year of service!


• Additional vacation accrued with tenure.


• For onsite team members, onsite housing discount at Greystar-managed communities are available subject to discount and unit availability.


• 6-Week Paid Sabbatical after 10 years of service (and every 5 years thereafter).


• 401(k) with Company Match up to 6% of pay after 6 months of service.


• Paid Parental Leave and lifetime Fertility Benefit reimbursement up to $10,000 (includes adoption or surrogacy).


• Employee Assistance Program.


• Critical Illness, Accident, Hospital Indemnity, Pet Insurance and Legal Plans.


• Charitable giving program and benefits.


• *Benefits offered for full-time employees.

For Union and Prevailing Wage roles, compensation and benefits may vary from the listed information above due to Collective Bargaining Agreements and/or local governing authority.

Greystar will consider for employment qualified applicants with arrest and conviction records.

Greystar is an equal opportunity employer and does not discriminate in employment on the basis of race, color, religion, sex (including pregnancy, sexual orientation, and gender identity), national origin, age, disability, genetic information, military or veteran status, or any other characteristic protected by applicable law.

Core Values

As a Greystar team member, you will hear a lot about our Core Values. They are the values we live and work by, reflecting who we are and the quality of our relationships. We believe in always going that extra step for our residents, clients, investors, and each other.

Integrity We stay true to the highest ethical standards and principles, and are honest, trustworthy, humble, and respectful in all of our words and actions.

Equality We celebrate individual differences, encourage diversity of thought, provide equality of opportunity, and cultivate an environment where all individuals are seen, treated, and valued equally.

Professionalism We proudly present a positive, dignified, and businesslike image at all times through our appearances, behavior, and interactions with others.

Accountability We take responsibility and accept ownership for our words, actions, tasks, and results, and respectfully hold others to the same standard.

Service We make service our top priority by giving our time, knowledge, and experience to serve the needs of our customers, community, and team members.

Teamwork We work together to accomplish goals, solve problems, and enrich our work environment.

GREYSTAR OVERVIEW (Duplicate)

Greystar is a leading, fully integrated global real estate platform offering expertise in property management, investment management, development, and construction services in institutional-quality rental housing. Headquartered in Charleston, South Carolina, Greystar manages and operates over $350 billion of real estate in more than 260 markets globally with offices throughout North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, managing over one million units/beds globally. Across its platforms, Greystar has over $79 billion of assets under management, including approximately $34 billion of development assets and over $36.5 billion of regulatory assets under management. Greystar was founded by Bob Faith in 1993 to become a provider of world-class service in the rental residential real estate business. To learn more, visit www.greystar.com.