State: NC
City: Durham
Zip Code: 27701
Overview
AvalonBay Communities, Inc., an equity REIT, has a long-term track record of developing, redeveloping, acquiring and managing distinctive apartment homes in some of the best U.S. markets, and delivering outsized, risk-adjusted returns to shareholders. With equal parts experience and vision, we’ve established a leadership position rooted in our purpose of creating a better way to live and that is always focused on building value for the long term.
Creating a better way to live is the purpose that binds AvalonBay associates. We take that purpose seriously and expect you will as well. By focusing on collaboration, innovation, and taking ownership of our choices and actions, we act in ways that focus on creating value for our customers, investors and associates. Your positive, professional, and consistent personal interactions make AvalonBay a great place to work.
The Role
Job Summary: The Development Manager will oversee all phases of the development process for multifamily and mixed-use communities. This role requires a strong blend of project management, financial analysis, design collaboration, and relationship-building skills to ensure the successful execution of development projects. The Development Manager will work closely with internal teams, external consultants, and industry partners to deliver projects on time and within budget while aligning with organizational goals.
Essential Job Functions:
External Relationship Building:
Build and maintain constructive, collaborative relationships with industry stakeholders at the project management and executive levels, under the guidance of the Development Officer.
Project Management:
Conduct project feasibility analysis by managing project pro formas, researching market rents, submitting Budget Request Forms (BRFs), and conducting financial analyses.
Oversee environmental, engineering, and land use studies in collaboration with internal and external team members.
Evaluate project risks and opportunities, manage contracts, and contribute to strategic project direction.
Prepare and deliver monthly and quarterly project reports as required.
Assist in the preparation of investment packages for the Management Investment Committee (MIC), integrating market, financial, and environmental analyses.
Collaborate with AVB Design to ensure compliance with AVB’s design and construction standards.
Consultant and Vendor Selection & Management:
Lead the bid process for architectural, engineering, and other consultant services, and oversee contract preparation for selected vendors.
Collaboration & Leadership:
Facilitate Asset Team meetings to set agendas, manage project milestones, track progress, and address issues, under the direction of the Development Director or Vice President.
Sourcing & Business Development:
Support due diligence efforts, financial updates, market studies, and coordinate field studies.
Conduct demographic and market research for current and potential development sites.
Participate in site visits and exploratory meetings for potential site acquisitions.
Education:
Bachelor’s degree required.
MBA with a Real Estate concentration, or Master’s in Real Estate Development or related fields preferred.
Experience:
Minimum of 3 years of experience in real estate-related fields (e.g., Development, Construction, Finance, Design, Operations, or Investments).
How AvalonBay Supports You
We know that our teams are the beating heart of our success and we’re committed to showing our appreciation.
We offer:
Comprehensive benefits — health, dental and vision, 401(k) with company match, paid vacation and holidays, tuition reimbursement, an employee stock purchase plan and more. Click on Benefits (https://jobs.avalonbay.com/benefits) for information.
Growth based on achievement and promotion from within.
Associate recognition (a company-wide recognition program that celebrates associate efforts and successes in contributing to the overall success of the organization – including destination awards, ‘AvalonBay’s Very Best’ recognition program and others!).
A 20% discount on our incredible apartment homes.
A culture built on purpose and our core values - A Commitment to Integrity, A Spirit of Caring, and A Focus on Continuous Improvement.
Additional Info
AvalonBay is proud to be an equal opportunity employer and is committed to an inclusive and diverse work environment free of discrimination and harassment. We believe that in order to achieve our purpose of creating a better way to live, we must recruit, develop and retain associates with a wide range of backgrounds, experiences and perspectives and create an environment that encourages all voices to be heard, understood and appreciated. With this we know we can do great things.
AvalonBay makes employment decisions without regard to a person’s race, ethnicity, color, religion, sex, national origin, sexual orientation, gender identity, pregnancy (including childbirth, lactation or related medical conditions), age, physical or mental disability, genetic information (including characteristics or testing), citizenship status, military or veteran status, or any other status protected by the law.
For California residents, if you elect to apply to AvalonBay you accept the AvalonBay California Personnel Privacy Notice (https://www.avaloncommunities.com/california-personnel-privacy-notice/)
Job ID JR103243