JOB SUMMARY

SoLa Impact is looking for a dynamic, resourceful, and entrepreneurial-minded Sr. Development Manager. As a Development Manager you will play a key role helping us to ensure our relationships in Southern California and the projects we create will continue the extraordinary reputation and legacy that has been earned and created by SoLa Impact. Reporting to and coordinating with our VP of Development, the Sr. Development Manager will oversee the development process for multifamily rental property development in Southern California, which will involve coordinating with acquisition, design, engineering, construction and marketing professionals. The Sr. Development Manager will be hands-on with all aspects of the development process following a “cradle-to-grave” approach to development and will execute the development process from due diligence, to conceptual design and entitlements, through completion of design, permitting and handing off to construction and leasing until projects reach stabilized occupancy or sale and are delivered into a permanent structure. Responsibilities include all aspects of due diligence, market analysis and financial analysis, budgeting, design, scheduling, management of the entitlement process, permitting, interfacing with the construction team and assisting in the sales strategy, including presentations before municipal and other regulatory boards, and reporting to senior management and capital. The Sr. Development Manager will be responsible for tracking progress, and coordinating consultants to achieve timely, cost-effective completion according to the schedule developed during due diligence.

Specific responsibilities to include:

Project Acquisition:

• Analyzing underlying zoning and feasibility

• Presenting the economics and case for investment to management and capital partners

• Assists in the due diligence for the acquisition of land including identifying areas of risk.

• Creating development impact fee schedules and budgets for plan check and permitting.

• Creating detailed A&E budgets for each phase of the development.

• Creates development budget and development schedule at closing. Takes ownership of development budget and development schedule and tracks it throughout the life of the project.

Project Feasibility:

• Exploring the feasibility of projects through the coordination of physical and financial due diligence activities. This includes entitlement probability, financial and market analysis and feasibility, initial product identification, overseeing environmental studies, architectural, engineering and land use studies, etc.

Planning Approvals/Entitlements:

• During all phases of the process, is the point person and executes the project development activity. Oversees the progress of development consultants, including architects and engineers, etc.

• Leads the entitlement process, including representation at hearings and neighborhood meetings, working closely with attorneys, planners, architects, engineers and other consultants, and local officials.

Project Design and Construction:

• Involved as part of the team in design conceptualization and programming. Works closely with architects and consultants to review floor plans, site plans, retail design/ programming, amenity space design, etc. to maximize rents while being conscious of construction costs.

• Maintains control of the details and timeline of projects under his/her purview.

• Coordinates and interacts with the design team and the construction team to manage the master project schedule, confirm the specifications, and establish project requirements.

• Reviews and communicates progress on schedules and budget updates.

• Recommends and manages consultants for the development team and reviews and negotiates consultant agreements and track committed contracts with budget projections.

• Prepares and oversees the development schedule, project proformas and budgets.

• Prepares pre-development budgets and reviews and approves consultant invoices. 

• Coordinate with SoLa’s in-house Construction, Accounting and Property Management teams through project execution and opening.

Financial:

• Manages internal corporate budgeting and reporting.

• Collaborates with analysts to maintain and update proformas that accurately reflect the project budget and expenses.

Candidate Qualifications/Experience:

• The successful candidate should have a strong academic background with a Bachelor’s degree. An MBA or other related graduate degree;

• A minimum of ten years of experience in real estate acquisitions, entitlement and development of multifamily properties;

• Deep local knowledge of multiple jurisdictions throughout Los Angeles County and the Southern California region. Strong understanding of local zoning laws, state housing laws, and entitlement and permitting processes within the cities SoLa operates.

• Strong understanding of residential housing markets regionally as well as a depth of knowledge in specific related sub-markets and the supply/ competition and the demand drivers;

• Strong track record with ground up multifamily development deals, particularly with entitlements and permitting, in urban infill locations.

• Experience negotiating consultant contracts.

• Detailed and thorough understanding of permitting, preconstruction, and construction of multifamily housing.

Personal Skills and Attributes:

• A high energy, positive team player with “can do” attitude;

• Able to work independently, with minimal supervision;

• Relationships and connections within the acquisition, entitlement and development community in Southern California;

• Ability to build and leverage relationships within the community and industry. Professional in demeanor, actions, and attitude, toward colleagues and external audience members;

• Able to identify realistic opportunities that fit the SoLa business plan and underwrite them;

• Solid financial acumen; must be well-versed in completing project proformas and analyzing deals, and articulate, both orally and in written form, the case for a specific project. Should have both an intuitive and a detailed sense of the dynamics, risks, and structured financings of each transaction;

• Doesn’t present problems without solutions;

• Able to work with time sensitive, detail-oriented material and meet multiple deadlines. Has experience managing multiple projects through constantly changing priorities;

• Willingness to do the work required to achieve the company’s objectives;

• Must possess excellent computer skills, particularly in Excel, Word, and PowerPoint. Capable of adapting to other industry-standard software.