We are seeking a dedicated and mission driven Development Director to join our Development Team to support efforts to grow our portfolio of affordable and mixed-income multi-family housing projects. This Development Director will have responsibility for implementing real estate development projects from conception through closing, construction, lease-up and stabilization. The Development Director is expected to deliver each project on schedule and within budget, while meeting our high-quality standards.
The Development Director?s duties and responsibilities shall include but not be limited to:
- Project profitability and schedule and its related impact on the corporate finances.
- Develop and maintain professional relationships with state and federal funding agencies, staying apprised of available programs, requirements, and initiatives.
- Develop and maintain professional relationships with joint venture partners, investors, and municipalities.
- Assist in the selection of sites, manage due diligence, prepare project feasibility analysis, and develop the pro forma and financial structuring.
- Coordinate and oversee the structuring, assembly, and review of funding applications.
- Maintain project budget, complete sources and uses and monthly updates of costs to complete.
- Coordinate professional team to obtain project entitlements. Attend meetings as required to obtain entitlements, which may require multi-state travel.
- Select and negotiate third party agreements with design professionals (e.g., architects, engineers, etc.) and direct them on design development and review, adhering to Dakota building specifications and standards.
- Select and negotiate agreements with project consultants (e.g., attorneys, historic, housing, etc.).
- Obtain required third party studies (market study, appraisals, environmental reviews).
- Manage third party contracts and billings.
- Coordinate pre-syndication and lender effort (equity, construction loans, permanent loans).
- Lead the project closing process.
- Manage design and construction teams to ensure the timeliness, quality, and cost effectiveness of project.
- Represent the owner at construction meetings and resolve issues related to design implementation, schedule, permits, third- party professional?s responsibilities and requisition reviews.
- Review and approve construction funding requisitions.
- Review and approve construction change orders.
- Assist in preparation of requisitions and submission to lenders and equity providers and ensure timely funding of requisitions.
- Determine all regulatory requirements for the issuance of Building Permits, Certificates of Occupancy, and other permits from the local municipality and direct the contractor and third-party professionals to perform their required roles.
- Oversee preparation of the construction punch list and ensure work completion.
- Assist in preparing final project cost certification for 8609 issuance and regulatory agreement filings.
- Ensure scheduled collection of developer fees.
- Coordinate with our Asset Management team and 3rd party management company throughout development process and successfully hand off project once complete.
- Other related duties as assigned.
