Senior Real Estate Development Associate

Development Manager

Acumen Companies, a multidisciplinary, opportunistic real estate development and investment company headquartered in DC, is looking for a Development Manager /VP to assist senior management in the pursuit of new Investment and Development opportunities,  as well as manage the team and current development projects. This position will be responsible for a full life cycle of development projects from sourcing to exit of market multi-family, hotel and affordable housing & real estate investment opportunities. The position will be based in DC, but also occasionally evaluate and help manage opportunities in the LA sub-markets.

Experience and Education

• Required: 10+ years DC-MD-VA experience managing projects for a Commercial Real Estate Developer
• Required: 10+ years DC-MD-VA experience full hands-on entitling and permitting projects 
• Required: 10+ years DC-MD-VA experience full hands-on Multifamily and Hospitality
• Required: 10+ years DC-MD-VA experience full hands-on Local and State Government responding to RFP and Managing Development Projects for Third Party
• Required: 10+ years DC-MD-VA experience full hands-on affordable housing projects
• Master’s degree in a related field
• Minimum of eight-years direct experience managing the planning, financial packaging, and development process for new construction and rehabilitation of affordable housing properties in the District of Columbia and the Washington Metropolitan Area, as well as asset management of those properties

PERSONAL ATTRIBUTES

• Uncompromising personal integrity.
• Tenacious in meeting deadlines, with a strong sense of urgency and good self-management discipline. Capable of working effectively under pressure.
• Organized and efficient, with good ability to define priorities; good at figuring out the processes necessary to get things done.
• Ability to work autonomously – this is a small firm without much administrative support.
• Must be a confident, team player who listens to internal and external input but can take decisive action.
• Both qualitative and quantitative skills are required, strong math and writing skills are necessary.
• Organizational skills and attention to detail, with the ability to prioritize and manage multiple projects simultaneously.
• Ability to function both in a team-oriented setting and independently.
• Strong sense of personal motivation, responsibility, and entrepreneurship.

Depth of Knowledge

• Acquisitions & Sourcing Stage
  • Identify and source opportunities,
  • Raise GP and LP Equity where needed along with senior management
  • Underwrite projects, create debt and equity packages, and acquire new assets that meet the goals and objectives of shareholders
  • Present Investment opportunities
  • Conduct due diligence
  • Source, hire and manage 3rd party architects, consultants, general contractors, property managers, brokers, etc. to execute the asset’s business plan.
  • Create and sustain a robust real estate development pipeline consistent with Acumen mission and strategic
  • Travel within the Development area on a regular basis to meet partners and seek new development opportunities.

• Pre-Development , Entitlement  & Development Stage  for Market Multifamily, Land Development and Hospitality projects
  • Manage the design, development, entitlement, permitting, construction and delivery of multifamily, mixed-use and hotel projects within the DMV or LA Markets
  • Lead all development activities from inception until the property is sold or stabilized, handoff to PM or HOA Manager
  • Plan, develop, organize, implement, direct and evaluate the organization's fiscal function and performance
  • Perform feasibility analyses of potential projects in close collaboration with finance, management and construction teams. Help inform and oversee the project strategy
  • Prepare and maintain project performance metrics that include pre-development budget, development budget, and project timeline
  • Assist with the oversight and management of external partners, e.g. architect, market data consultants environmental consultants, community organizations, political officials
  • Evaluate and secure zoning and other local government entitlements required for development
  • Be a diligent brand ambassador
  • Act as key contact for all applications with agencies/government and the point person and signatory on all project-level
  • Secure zoning changes when necessary, including speaking at public hearings, community engagement gaining support of local municipalities and neighborhood organizations to secure necessary project support.
  • Direct third party due diligence by engaging contractors, architects, appraisers, market analysts, and other consultants.

• Funding Stage
  • Assist with the preparation of funding proposals, tax credit applications, etc.
  • Stay abreast of current developments and priorities in funding programs at the state and local levels within target geography.
  • Research and organize information regarding Low Income Housing Tax Credit (LIHTC) or tax-exempt or taxable bond feasibility, which consists of highly complex technical procedures that are updated and changed each year.
  • Research and organize information regarding other funding sources, such as HUD HOME program funds and FHLB Affordable Housing programs, along with governmental and non-governmental mortgage loan sources.

• Affordable Housing / Public Private partnership

• • Manage all aspects of the affordable housing real estate development process from initial feasibility, acquisition and financing to project completion and stabilization of operations
  • Recruit and manage consultants and contractors in the project planning, pre-development, and construction process
  • Prepare applications for project financing (debt and equity) from public and private institutions
  • Negotiate and manage relationships with financial and joint venture partners
  • Oversee portfolio asset management, including regulatory compliance
  • Oversee in-house and third-party property management operations
  • Implement energy efficient techniques and renewable energy in new and ongoing building operations
  • Prepare timely reports for Equity partners and Debt Lenders
  • Report regularly to the President/CEO, board, and board committees
  • Research and organize information regarding Low Income Housing Tax Credit (LIHTC) or tax-exempt or taxable bond feasibility, which consists of highly complex technical procedures that are updated and changed each year.
  • Research and organize information regarding other funding sources, such as HUD program fund FHLB Affordable Housing programs, along with governmental and non-governmental CRE loan sources.

•    Team Management

• • Source, hire, train, manage and/or develop staff including:
    • Acquisitions Associate or Analyst
    • Accountant/Administrative/Office Manager
    • Development Associate/ Analyst
    • Construction Manager/Associate/Admin
  • Develop annual individual employee goals, objectives, and action plans and monitor performance Perform annual and periodic reviews of employee performance.
  • Collaborate with Finance & Accounting and Asset Management to ensure the long-term sustainability of Acumen portfolio of developments.
  • Establish team priorities and provide help and/or additional resources where needed
  • Assign roles on new projects and manage staff to ensure timeliness