Developer - Pennrose : Job Details

The position assumes full responsibility for the successful completion of multi-faceted real estate development projects – both market-rate and affordable - from inception through construction completion and lease-up. This individual is responsible for leading an in-house team of Associate Developers, Assistant Developers, and Administrative Assistants. Additionally, they assemble and manage external teams of financiers, architects, designers, engineers, and contractors. The role requires managing multiple projects at various stages of development, demanding strong financial skills, creative thinking, leadership, and effective communication.

• Identify and evaluate real estate development opportunities
• Determine the financial feasibility of projects
• Assess site suitability
• Report to Pennrose Properties' Chief Financial Officer on predevelopment expenditures, development cash flow, and capital requirements
• Draft and finalize professional RFPs and RFQs
• Establish strong public-private partnerships
• Deliver professional PowerPoint presentations to financiers, municipalities, and community stakeholders to market Pennrose Properties
• Develop realistic project budgets
• Coordinate the land development approval process
• Assemble and lead a development team
• Coordinate legal team activities
• Manage site control documentation, loan agreements, equity, and partnership agreements
• Collaborate with architects and engineers in design processes
• Set realistic project schedules
• Ensure deadlines for design, funding, and construction are met
• Oversee contractors and professionals to build developments
• Manage projects efficiently through team leadership
• Deliver projects on time and within budget
• Coordinate lease-up activities with comprehensive information flow
• Motivate and manage the in-house development team
• Maintain calendars and schedules for development meetings
• Balance internal and external opinions diplomatically and promptly
• Understand team workload and priorities
• Keep team leaders informed of project issues

Performance Metrics

• Secure Agreement of Sale/Development Agreements and site control
• Ensure 100% construction completion and fund receipt within set timeframes
• Achieve financial closings on schedule
• Meet lease-up pace expectations
• Obtain project entitlements within established timeframes

Required Education and Experience:

• Bachelor's degree (BA or BS)
• Minimum four years as an associate developer or similar role
• Strong entrepreneurial instincts
• Solid analytical skills
• Comprehensive real estate background
• Excellent verbal and written communication skills for selling ideas
• Confidence in delivering presentations to diverse groups
• Strong interpersonal skills for building relationships
• Discretion handling confidential information
• Organizational skills for setting priorities and working independently
• Ability to work under pressure with sound judgment
• Understanding of project proformas for market-rate and public housing
• Knowledge of HUD and Housing Finance agency budget requirements
• Experience with funding applications like Low Income Housing Tax Credits
• Problem-solving skills
• Proficiency in Outlook, Word, Excel
• Punctuality and respect for others' time
• Attention to detail and speed
• High work ethic and professionalism
• Valid driver's license and ability to travel

• Flexible working hours and travel required
• Ability to work at property locations, including transitional neighborhoods
• Physical ability to climb stairs, use elevators, bend, squat, and reach overhead