Summary

 

This position manages all aspects of the development process for multiple projects in various phases of development, from site acquisition and project conception through construction completion, lease-up and close-out, ensuring a smooth transition of the project from development to Asset and Property Management.  This is a hybrid role with 3 days in-office and 2 days remote or on-site.  

NOTE:  We are open to expanding this role depending on the  level of experience in affordable housing development, specifically in WA. 

 

Responsibilities

 

Project Inception and Feasibility

Identify and test feasibility of potential development opportunities through coordination of physical and financial due diligence activities (entitlement probability, financial and market analysis, initial project program identification, overseeing CEQA/EIR environmental studies, expedited entitlement approvals, architectural, engineering and land use studies, etc.)Maintain current knowledge of debt and equity underwriting standards and of the apartment and related residential housing markets in the region to identify development opportunities for both direct and joint venture developmentsAct as BRIDGE’s representative in the marketplace, working with investors, contractors, city officials, brokers, lenders, peers, and othersNegotiate for acquisition of property, conceptualizing a development program and process that fits with BRIDGE’s mission and business strategyWork with supervisor and other divisions within the company to gain approval for proceeding with the project including  initial development concept, underwriting assumptions and funding for initial feasibility analysis and subsequent activitiesEnsure ongoing coordination with Asset and Property Management and other departments and resources within BRIDGE to assure compliance with underwriting and development goals

Planning Approvals/Entitlements

Manage team of consultants and process for obtaining required planning approvalsCoordinate with Asset and Property Management departments to ensure that programmatic issues with respect to maintenance, operations and provision of services are adequately addressedCoordinate company resources to ensure political support for the project, including: Managing and overseeing the entitlement process, including representation before municipal and other regulatory boards, working with land use attorneys, land planners, architects, engineers and other consultants, and local officialsManaging community outreach programs to build support for the development programSelection and management of the design development team responsible for design conceptualization and programmingWorking as an asset team member and leader with other company disciplinesWorking closely with the external General Contractor and with the Asset and Property Management teams to ensure successful marketing and efficient lease-up to achieve stabilized occupancy in a timely manner

Project Design and Construction

Manage the design and construction teams to ensure a financially and operationally viable development that is in compliance with internal design standards and specifications, and is closely tracking to the projected budget and scheduleManage the monthly construction draw process and maintain lender/investor relationships

Financial

Create and maintain up-to-date pro forma that accurately reflects the project budget and financing planObtain financing for completion of the development, including taking the lead in negotiating the terms of financing in compliance with internal underwriting standardsManage project costs throughout the development processObtain formal approval of budget prior to implementation, including project costs that require expenditure of BRIDGE internal resourcesEnsure long term viability by budgeting adequate reserves and establishing operating budgets in consultation with Asset and Property Management departmentsEnsure the protection of BRIDGE’s assets and resources through conservative assumptions and clear documentation of loan and partnership terms

Quality

Ensure the highest quality development that reinforces BRIDGE’s commitment to sustainable long term asset performanceInitiate and maintain ongoing interaction with the Property Management department to ensure long term qualityTreat all members of the BRIDGE team with respect and considerationPreserve BRIDGE’s existing relationships and build new ones through professional conduct with outside entitiesCollaborate with other members of the department and the company on special initiatives that will continue to keep BRIDGE at the forefront of the industrySupervise Project Administrator to maximize their ability to drive the direction of projectsAct as a resource to junior development project managers across the organization

 

Qualifications

 

7 to 10 years of experience in real estate development, including affordable and multifamily/attached residential experienceStrong academic background with a college degree5 or more years of on-the-job experience in the development of complex urban infill and transit-oriented multifamily housing projects with multiple sources of financingExperience in conceptualizing, site planning, and programming multifamily developmentsProven experience in all phases of both new construction and acquisition-rehab development projects from site control through entitlement, design, construction, lease-up, and stabilizationAbility to develop and execute community outreach programs, build relationships with civic and political leaders/influencers to build awareness and support for proposed development projectsProven real estate finance expertise in rental and low-income housing tax creditsAbility to create project pro forma and articulate the case for a specific project Experience managing internal and external teams on development projectsAbility to work with time sensitive material and meet multiple deadlinesProficiency in MS OfficeValid CA driver’s license

 

Preferred

 

MBA or equivalent degree in business, real estate, architecture, planning, law or financeStrong knowledge of market dynamics and real estate values in the Washington, PNW and Northern California marketsExperience managing several projects through the entire development process

 

 

BRIDGE Housing is an Equal Opportunity Employer committed to fostering an inclusive environment for our diverse workforce. We do not discriminate on the basis of race, religion, color, national origin, gender identity, sexual orientation, age, marital status, veteran status, or disability. Pursuant to the California Fair Chance Act, we will consider qualified applicants with arrest records.