Since opening in 2000, the culture at Alliance has been one with an entrepreneurial spirit that consistently pushes the evolution of the multifamily industry. As a result, we've revolutionized the apartment living experience and continue to be recognized for delivering world-class services and exceptional customer experiences. And that's really why we are here in the first place - to build homes, lifestyles, and opportunities for those who call Alliance home. It's this mission that propels us forward each day, motivating us to craft work environments that are engaging, empowering, and dedicated to professional advancement.
If you're looking for a fast-pace, ever-evolving career that rewards grit and perseverance, you've come to the right place. Welcome home.
A Day in the Life:
The Development Director position will report to the area Managing Director and will focus on multifamily and senior living development activities in the assigned Area. The candidate will be responsible for a variety of real estate development duties including the pursuit of new development business, market research, site acquisition, preparation of financial models and proformas, analyzing the feasibility of residential development projects, the creation of investor/lender presentation packages, coordinating and directing development team consultants and assembling and presenting market research information, coordinating with capital partners and various other tasks.
The Development Director will also be responsible for the preparation and tracking of budgets and project proformas to ensure that development projects are completed on schedule, within budget and in compliance with the terms of joint venture and loan agreements. The candidate will be an integral part of large development projects in all aspects of the business, including direct coordination with the project operations, financing, and construction.
The office is a dynamic, entrepreneurial environment - the successful candidate must be a team-oriented, proactive, self-starter with an eagerness to learn and grow, and have passion for the real estate development process.
What You'll Do:
* Conduct detailed market surveys and perform quantitative and qualitative analysis of competitive landscape
* Evaluate potential new development sites from for zoning, market and financial feasibility* Underwrite the value of multifamily and senior living real estate development projects by developing and applying quantitative analytical models* Participate in conducting and managing the due diligence process on targeted development projects* Collect and integrate project data, including construction cash flow requirements, operating income and expense projections and financing assumptions for project proformas* Compose written and graphical summaries and memorandums regarding potential development projects for internal and external presentation* Interface and negotiate with governmental jurisdictions on entitlement and zoning issues* Assist in managing monthly draw processes* Track job cost against budget and report to management on projected savings or overruns
What You'll Need to Succeed:
* A minimum of 5-7 years in multifamily or senior living real estate investment & finance, development, law or design/engineering.* Bachelor's Degree with strong academic performance required (Graduate Degree such as an MBA or Master's of Real Estate Development would be a plus). * Knowledge of key financial concepts and metrics as they relate to the multifamily real estate industry, including capitalization rates, internal rates of return, cash-on-cash returns and others.* Understanding economic indicators as they relate to valuing multifamily real estate.* Proficiency in MS Excel, Word and Project is required.
What You'll Receive:
Professional and upbeat work environment
Competitive compensation and incentives
Paid training and professional development opportunities
Generous paid time off including vacation, sick, holiday, birthday and volunteer time
Low Premiums for Medical, dental and vision coverage; including access to telemedicine
Paid parental leave for eligible new parents
Flexible spending account
Health saving account with Company match
401k program with Company match
Housing discounts (When available)
Flexible hours and remote positions (when available)
Company-paid life insurance
Short and long term disability coverage
Team building events
Associate wellness program, including financial wellness (partnerships with Gradifi and Bank of America)
Regional and National Award programs
Associate referral bonus program
Internal Number: 9780
About Alliance Residential
Alliance is one of the largest private U.S. multifamily companies with offices throughout the West, Southwest, South-Central, Southeast, Mid-Atlantic and Northeast. We have invested in more than $3 billion of real estate and manage a $9 billion portfolio with a focus toward superior local leadership and a comprehensive national support infrastructure.
Headquartered in Phoenix, AZ with 26 regional offices nationwide
Active buyer, builder and manager across 15 states and 24 metropolitan markets