Vice President of Development
Location: Stamford, CT
Lennar Multifamily Communities (LMC), a wholly owned subsidiary of Lennar (NYSE:LEN), is a multifamily real estate development and operating company with a diverse portfolio of institutional quality multifamily rental communities across the US. Between our completed developments and pipeline, LMC owns and manages over 100 communities across the US that exceeds 33,000 homes and $12 Billion in development costs and consists of high-rise, mid-rise and garden apartments.
Summary of Position:
The Vice President of Development is responsible for executing development functions for multifamily and mixed use real estate projects in a region with a focus on planning, entitlement, financial analysis, and overall management of the development process.
Principal Duties and Responsibilities:
- Working hand-in-hand with the Division President, Development Managers, Development Associates, LMC Living and LMC Construction to underwrite new development opportunities including identifying market-specific economic and demographic data, rental comparables information, construction cost estimates, local permit and fee costs and local supply and demand statistics.
- Working with the Investments team to prepare informational packages for the internal Investment Committee as well as Offering Memoranda for equity partners and outside lenders.
- Overseeing and implementing all facets of the development process including planning, design, entitlement, construction and lease-up of the projects.
- Thoroughly reviewing civil, architectural and interior design plans to drive quality and cost effectiveness.
- Preparing, maintaining and monitoring project budgets and preparing monthly project development reports.
- Preparing and maintaining the financial projections, monthly draw requests and related analyses for the development and operation of the projects.
- Directing the internal project team and outside professionals in creating an effective strategy for the success of the projects and implementing that strategy.
- Providing leadership and mentoring for less experienced Associates.
Education and Experience Requirements:
- MBA with concentration in Real Estate and/or B.S in Finance/Real Estate/Civil Engineering/ Building Sciences.
- Significant experience in real estate development (preferably with an emphasis on Multifamily), land development and project management and the demonstrated ability to build and direct effective teams to manage major development projects.
- Knowledge and understanding of development and construction practices.
- Detail orientation and drive to always be on top of their areas of responsibility.
- Effective interpersonal skills and ability to manage up and down.
- Effective verbal and written communication skills.
- Superior desire to meet commitments/deadlines.
- Ability to manage several projects simultaneously through high energy, flexibility and excellent organizational skills.
- Strong MS Office skills including Excel, PowerPoint and Word.
- Must have the ability to operate an automobile. Must have a valid state approved driver’s license.
This is a position which requires the VP of Development to be able to view computer screens, mobile devices and other electronic equipment, paper reports, and journals for extended periods of time where visual strain may result. Must be able to frequently walk, stand, and climb stairs in and around construction sites, communities, apartment homes, models and properties. Also, must have the ability to speak, hear, bend, stoop, reach, lift, and move and carry up to 20 lbs. Finger dexterity is necessary. Regular travel is required to visit communities and offices throughout the region, and to attend training classes, business meetings, or other situations necessary for the accomplishment of some or all of the daily responsibilities of this position. Must have ability to operate an automobile.
- Arrive to work on time.
- Follow directions from a supervisor.
- Interact well with co-workers.
- Understand and follow posted work rules and procedures.
- Accept constructive criticism.
This description outlines the basic responsibilities and requirements for the position noted. This is not a comprehensive listing of all job duties of the Associates. Duties, responsibilities and activities may change at any time with or without notice.