1099 MF Senior Development Executive

Our Client is seeking a Senior Development Executive for its Los Angeles Headquarters.  Reporting to the COO, the successful candidate will have in-depth, hands-on experience in all aspects of multi-family rental housing development, finance and construction.  The Senior Development Manager will be responsible for all aspects of their projects including entitlements, design, financial analysis and modeling, deal memo preparation, due diligence, legal oversight, budgeting, and construction. This position is a key team position that will provide the candidate significant professional growth and exposure to all aspects of workforce and affordable housing development projects.  This position is based in Los Angeles, CA  (Brentwood to be exact) and IS NOT REMOTE.

Firm Overview

Our client is a privately-owned affiliate of a vertically integrated U.S. real estate company which has developed $5.5 billion of real estate, including a wide range of ground-up residential rental and for-sale apartments, adaptive re-use and historic conversions, student housing, community facility development, retail, and light office. They acquire strategically located properties in urban markets that are experiencing significant housing affordability gaps and are positioned to invest more than $1 billion in workforce housing nationwide.

They are a national brand, currently pursuing our mission in Los Angeles – a city and region experiencing a severe housing affordability crisis where rents are rising faster than incomes. Their projects are privately financed without the use of public subsidies. They have acquired several properties in los Angeles and have a pipeline of new projects totaling over 1,500 units. 

Responsibilities

 As a Senior Development Executive you will organize and be responsible for all aspects of the development process, beginning with conceptualization, through plan check and entitlements, and ending with successful completion of the project and turnover to asset management. This includes site feasibility to identify constructability and path through plan check and entitlements, conceptual site plan development and oversight, providing guidance and management of the site drawing package, direct client interaction for status, scope updates and schedule management. This is an exciting opportunity for a seasoned candidate to build and lead a new team for a rapidly growing organization. We are a very well-capitalized firm and are looking to deploy capital and scale quickly. They offer a competitive salary, performance bonuses and more. If you are a results-driven leader with a passion for real estate and a desire to make a significant impact, this role is for you. 

• Initiate and organize the creation of the overall development concept with a specific focus on target customer(s), project identity and market positioning.
• Lead the initial planning process, including direction of conceptual design and evaluation of options in the context of entitlement path and desired product type.
• Direct all pre-development activities with 3rd party professionals (e.g., A&E), specifically including pre-closing design, plan check and entitlements , resolution of due diligence issues, and satisfaction of closing contingencies (contractual and imposed by Investment Committee).
• Prepare requests to the Investment Committee for capital investment and pre-development expenditures. Efficiently and clearly present (i.e., advocate and defend) key facts, strategic vision, challenges, risks, and investment considerations.
• Ownership of project entitlements, including, developing entitlement approval strategy and action plan, coordinating and attending hearings through completion of all entitlement approvals, coordinating design to include entitlement required documentation, and active tracking of contractual obligations with city and related jurisdictions, including but not limited to the Development Agreement and Environmental Mitigation Measures.
• Provide leadership to project team and maintain comprehensive working knowledge of construction progress.
• Plan, organize, and conduct regular project team meetings to maximize likelihood of achieving schedule, budget, and quality objectives.
• Prepare monthly reports, including updates regarding budget, schedule, and market conditions. Evaluate potential impacts to business plan and investment returns.
• Collaborate with the Asset Management Team throughout the entire process, specifically including creation and execution of marketing/leasing plans, consultation regarding potential change orders (i.e., scope or quality changes), and other key strategic decisions related to the business plan.
• Promote collaboration across multiple disciplines (i.e., asset management, construction, other developers, acquisitions, finance, etc.) to solicit valuable input; ensure that team members are well-informed. Encourage active dialogue, open debate, and a healthy exchange of ideas. Qualifications:
• Minimum of 7-10 years of hands-on real estate experience preferably with a focus on multifamily. While the industry experience likely is not limited to the development role, the candidate should have progressive accomplishments that demonstrate increased responsibility in a variety of related functions (e.g., site acquisition, design & permitting, construction, etc.)
• An undergraduate degree, preferably with an engineering, construction, real estate, architecture, or business major
• Strong project management experience, including selecting, contracting, and managing consultants, design professionals and general contractors
• Proficiency with Microsoft Excel as the Developer will produce, review, and analyze relatively complex project budgets and financial projections
• Strong knowledge of the Southern California market and submarkets
• A self-starter with a proven track record and the ability to manage large projects
• Strong work ethic and attention-to-detail
• Possess strong interpersonal skills
• Entrepreneurial mindse

Reasonable compensation expectation is a range based on experience in this field: 

 – Base $200K to 250K plus bonus and benefits.  Range is commensurate with experience.

Gillian Executive Search is a leader in recruiting for real estate development, acquisitions, and construction management.