Manager, Investment + Development
The Manager, Investment and Development reports to the Vice President, Investment and Development (Investment Manager) and is responsible for providing development project coordination and oversight. The Development Manager will work as part of the I+D team on project specific development and acquisition initiatives. They will work closely with the Investment Manager (IM) and Construction Manager (CM) on pre-development, due diligence, project management, construction, and operational transition.
General Areas of Responsibility
-Manage and execute the approved Investment Plan ensuring the timely delivery of a project within the approved budget and in accordance with the Midway Value Creation Process (MVCP) workflow from project conceptualization through completion and delivery.
-Coordinate the due diligence process during both the land acquisitions and pre-development project phases.
-Manage the entitlement and permitting process with the design team, legal team, and municipal officials.
-Coordinate the selection and contracting of A&E design and consulting teams and manage the design workflow during pre-development and construction phases of a project.
-Create and maintain detailed development project schedules, including due diligence, entitlements, design, permitting, capitalization and construction milestones of single or multiple phased projects.
-Prepare and manage detailed pre-development pursuit and development budgets, coordinating with Construction Management on hard cost related and owner provided deliverables and projections.
-Work closely with Construction Management on project design scope, value engineering and hard cost budget preparation.
-Assist the Investment Manager and the Construction Management team on General Contractor selection and contracting.
-Establish leasing assumptions based on market analysis, while working with internal leasing team to incorporate demand specific programming and projections.
-Assist with project leasing and deliverables, manage lease tracking and occupancy milestones, and coordinate leasing updates and meetings with internal and external teams, while providing strategic direction and leadership.
-Model, maintain and update project underwriting and financial projections throughout the project lifecycle.
-Coordinate project debt and equity capitalization efforts with the development and capital markets teams.
-Prepare and manage timely submissions of Pre-Development and Development project level draws and coordinate with the Construction Manager on construction pay applications.
-Attend OAC meetings and provide project management and oversight during construction.
-Maintain Pre-Development (PPMT) and Development (PMT) project management reporting tools, which include 3W’s, project budget, project schedule, change order and contingency tracking logs.
-Coordinate any LEED requirements and building certification commissioning efforts during construction.
-Ensure compliance of all insurance requirements with risk management.
-Work with Construction Manager on project closeout and transition to Investment Management upon project completion.
-Coordinate partner and lender communications, along with internal and external reporting.
-Assist the Investment Manager with preparation of Investment Committee memos, presentations and reporting.
-Collaborate closely with Financial Operations Team to ensure financial accountability and compliance, including timely processing of draws, capital funding, cash flow, and reporting
-Maintain high level of familiarity and understanding of all project related legal documents including: Development Agreement / -Partnership Agreement / Project Guaranty / Financing Agreements
-Continually work to improve Midway processes, deliverables and functionality.
Qualifications & Skills
-Real Estate, Finance, and/ or Architecture undergraduate degree; graduate degree preferred but not required.
-3-5 years minimum full life cycle project pre-development / development experience and / or relevant design experience.
-Multifamily product development and / or design experience is a plus.
-Strong underwriting / financial analysis background.
-Advanced proficiency in Microsoft Excel, PowerPoint, Argus and other related software.
-Proficiency with CAD and SketchUp design software a plus.
-Desire to add value and grow with Midway.
-Strong ability to work and thrive within a team environment.
-Ability to think analytically, multi-task, and prioritize.
-Exceptional communication and organizational skills.
-Strong character, ethical values, and work ethic.
-Ability to maintain all information with the highest degree of confidentiality.
-Ability to manage multiple priorities in a fast-paced, deadline-oriented environment.
-Ability to follow written and oral instructions.
-Exceptional follow-through skills.
-Exceptional communication skills.
-Fiscally responsible and uses reasoned judgment.
-Ability to plan ahead and think “outside the box.”