Developer

Lead the planning and execution of market-rate and affordable real estate development projects from early stage to lease-up in Baltimore.

Responsibilities

• Identify and evaluate real-estate development opportunities
• Assess financial feasibility and determine project viability
• Evaluate site suitability and development potential
• Oversee successful predevelopment and delivery expectations, including development cash-flow and development capital requirements, reporting to Pennrose Properties Chief Financial Officer
• Draft and finalize multiple RFPs and RFQs
• Build and maintain strong public-private partnerships
• Create and deliver PowerPoint presentations to financiers, municipalities, and community constituents, including groups that may be skeptical or adverse
• Develop realistic project budgets
• Coordinate an efficient land-development approval process
• Assemble and lead the development team
• Coordinate legal team activities
• Maintain responsibility for site control documentation, loan agreements, equity documents, and partnership agreements
• Collaborate with architects and engineers to design proposed developments
• Determine realistic project schedules and manage delivery against design, funding, and construction deadlines
• Manage project budgets and ensure projects remain on budget
• Oversee contractors and other professionals to deliver proposed developments
• Drive efficient project management through team management
• Coordinate lease-up of completed developments, sharing information concerning limiting criteria
• Manage and motivate the in-house development team, including calendars and meeting logistics
• Balance internal viewpoints with external stakeholders in a timely and diplomatic manner
• Understand team workload and priorities and keep Team Leaders informed of project issues

Requirements

• Agreement of Sale / Development Agreements secured and site control in place
• Ensure 100% construction completion and receipt of all funds within established timeframes
• Achieve financial closings within established timeframes
• Complete project lease-up at pace expected as of closings
• Obtain fully approved project entitlements within established timeframes
• BA or BS required
• At least 4 years of experience as an associate developer or equivalent position
• Strong entrepreneurial instincts
• Solid analytical skills and documented well-rounded real estate background
• Demonstrated ability to sell an idea through exceptional verbal and written communication skills
• Confidence delivering on-message PowerPoint presentations before possibly contentious groups
• Considerable interpersonal skills; build and maintain effective working relationships with others
• Discretion handling confidential information
• Demonstrated organizational skills, including setting priorities with the development team while working independently
• Ability to work under pressure using sound judgment, prioritizing demands, and responding with composure in a fast-paced environment
• Understanding of project proformas for market-rate and public housing developments
• Profound understanding of HUD and Housing Finance agency budget requirements
• Experience filing applications requesting Low Income Housing Tax Credits, Federal Home Loan Bank Affordable Housing Program funds, and other soft resources
• Demonstrated ability to respond to and resolve problems rapidly and efficiently
• Proficiency in Outlook, Microsoft Office including Word and Excel
• Demonstrated punctuality and respect for others’ time
• Accuracy with attention to detail and speed in task execution
• Strong work ethic and exceptionally high work standards
• Maturity, good judgment, and professionalism
• Valid driver’s license, insured vehicle, and ability to travel (between properties, on-call emergencies, training, etc.)

Location and Work Setup

• Baltimore, MD (onsite)

Compensation

• $100,000 - $130,000 per year

Required Technologies

• Outlook
• Microsoft Office
• Word
• Excel
• PowerPoint

Benefits

• Pay range: $100,000 - $130,000/year + bonus depending on experience
• Eligible for an uncapped performance-based bonus tied to individual and company results

Working Conditions

• Periodic flexible hours required
• Travel by plane and automobile required
• Work at property locations within or near transitional neighborhoods (with PMC support)
• Ability to climb stairs, take elevators, bend, squat, and reach overhead