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Development Director 9/9/2016

Equity Residential Los Angeles, CA

Company
Equity Residential
Job Classification
Full Time
Company Ref #
1600652
AJE Ref #
576124508
Location
Los Angeles, CA
Experience
Mid-Career (2 - 15 years)
Job Type
Regular
Education
Bachelors Degree

JOB DESCRIPTION

APPLY
BASIC PURPOSE:



Review and underwriting of Equitys Development Projects. Establishment and maintenance of relationships with developers in Equitys core markets. Familiarization with and reporting of market conditions and development opportunities in those markets. Maintenance of ongoing relationships with Equitys existing development partners. Presentation to Executive Committee and Board of Trustees for review and approval of said projects. Coordination with Asset Managers, Capital Projects Managers and Property Managers to assure compliance with underwriting and development goals. Direct Project Team, consisting of self and Development Manager for the project, to verify project budget and schedule and compliance with Equity standards. Follow-up on construction documents, permitting, construction and close out to assure compliance with approved schedule, specifications and budget.



ESSENTIAL FUNCTIONS:



Evaluation and management of multiple developments on a regional basis with travel involved.



Origination of new development projects, including negotiation of contracts and development agreements. Obtain approval of contracts and agreements with Executive Vice President and Executive Committee.



Oversee the development of new apartment communities from inception through final project completion and closeout.



Due Diligence review and reporting.



Prepare Underwriting Presentation for Executive Committee review and verbal and written presentation to Underwriting Committee for approval. Prepare written presentation to Board of Trustees.



Prepare underwriting model for all assigned development projects.



Receive and analyze all costs, rent levels, unit mix, expenses, income assumptions, and market information provided by developer, create pro-forma budget and make recommendations to Developer and Equity regarding same.



Direct Development Manager in preparation of final project underwriting budget and schedule. Involve Development Manager at inception of process to assure timely flow of information



Complete critical path schedules with assistance of the developer and Development Manager.



Hold regular Team Meetings with Development Manager, Developers key personnel and consultants on the developments progress and recommend necessary changes.



Report regularly, verbally and in writing on progress of projects.



Represents the Equity in a professional manner at all times. Consistently maintains a professional courteous attitude when dealing with residents, coworkers and the general public.



Performs other duties as necessary.

Complete critical path schedules with assistance of the developer and Development Manager.



Hold regular Team Meetings with Development Manager, Developers key personnel and consultants on the developments progress and recommend necessary changes.



Report regularly, verbally and in writing on progress of projects.



Represents the Equity in a professional manner at all times. Consistently maintains a professional courteous attitude when dealing with residents, coworkers and the general public.



Performs other duties as necessary.



JOB QUALIFICATION REQUIREMENTS:



Knowledge/Experience:



Bachelors Degree in Real Estate, Finance, or Design Disciplines such as Architecture or Urban Planning, or 7-10 years of new development project management experience required. Masters Degree in Real Estate, Finance, or Design Disciplines and 4-7 years of new development project management experience strongly desired.



Machines, Tools and Equipment, Software:



Computer with Internet and e-mail capabilities, Telephone, Facsimile, Photocopier, Vehicle. Spreadsheet, including Microsoft Excel, word processing, including Microsoft Word, Outlook, various scheduling software, including Microsoft Project.



Licenses/Certification:



Valid drivers license and good driving record along with auto insurance required.





PHYSICAL AND VISUAL ACTIVITIES:

Ability to hear and speak well enough to converse verbally over the phone and in-person (expressing or exchanging ideas by means of the spoken or written word). Ability to interpret, evaluate and communicate detailed written or verbal instructions to others accurately and easily. Able to see well enough to use the computer effectively and read written communications. Ability to lift, push, pull or carry up to 15 pounds for the dissemination of documents, supplies, materials, etc. to various locations throughout the office/facility. May be required to climb stairs depending on the property structure.



The above describes the physical and visual activities that are commonly associated with the performance of the essential functions of this job. Commonly associated is not intended to mean always or only. Reasonable accommodation will be provided as required by law to enable otherwise qualified employees with a known disability to perform the essential functions of the job.










CA-Los Angeles Corporate (0625L)
6100 Center Drive
Suite 750
Los Angeles, 90045