Description
POSITION: Director of Development
LOCATION: Phoenix, AZ
ROLE OVERVIEW
In contrast to the acquisitions side of Cortland, which closed on more than 50 communities this year, you will join a relatively new team at the firm. New Development is currently a small but rapidly growing business arm of Cortland with ambitions to be a top 20 national developer in the next three years. Towards that goal, we closed on five new developments in 2021 and currently have 1,935 units under construction.
Despite our size, Development is supported and augmented by significant firm resources. These include in-house architects and designers, and capital markets, pre-construction, and construction management teams dedicated to Development.
More broadly, we are able to draw on significant additional resources available at Cortland that come from having an owned portfolio of more than 76,000 units (including more than 4,500 across Phoenix and Tucson). In-house professionals include experts in data analytics, entomology, building automation and technology, waste and recycling, and sustainability.
With the resources and backing to expand our pipeline, this role will be a position of significant responsibility. You will be tasked not only with launching a new development office, but also with helping the team establish the processes and procedures needed to ensure successful development execution and the continued growth of our team.
RESPONSIBILITIES
- Sourcing new development opportunities directly and by leveraging relationships with brokers and landowners.
- Underwriting potential site by completing financial and market analysis along and reviewing the path to, and odds of receiving, entitlements.
- Negotiating, or helping negotiate, purchase and sale agreements, joint ventures, loan documents, and other documents needed for the successful completion of a new development project.
- Leading the pre-development process by hiring and supervising the project team of architects, engineers, and other consultants needed for a successful development.
- Preparing and pitching presentations for development opportunities to Cortland’s internal Investment Committee.
- Managing the entitlement process including speaking at neighborhood meetings and public hearings.
- Overseeing construction to ensure new communities are completed on time and on budget.
- Maintaining project schedules and budgets, managing pursuit spending, and preparing regular reports to keep executives and investors informed of progress.
- Helping analyze and pitch new markets to expand into.
DESIRED QUALIFICATIONS
- Critical thinker and self-starter capable of accomplishing tasks with limited guidance and supervision
- Minimum 6 years of development experience
- Experience growing and leading teams
- Capable writer and speaker who communicates succinctly and persuasively
- High attention to detail
- Strong computer and financial modeling skills – particularly with Excel and PowerPoint
- Ability to travel and work long hours when necessary
This job is no longer active.