Vice President – Multifamily Development
Reports to Executive Vice President of Development
The Vice President of Multifamily Development is accountable for directing and executing the process to evaluate and deliver financially successful real estate projects from concept to completion and transition to Property Management.
Wangard’s development department is staffed with experts in finance, leasing, due diligence, construction, design, approvals, incentives and environmental. Vice President’s primary role will be acting as the titular leader for assigned projects who collaboratively leads, manages and coordinates the work of internal and external expert resources.
Depending on the Vice President’s specific areas of expertise they may also act as the inhouse expert for those portions of a project. Vice President will primarily focus on managing multifamily developments, and at times office and industrial developments.
- Sources and assess land opportunities for potential multifamily projects with CEO and EVP Development.
- Collaborates with VP Predevelopment to conduct the appropriate due diligence necessary to understand, qualify and quantify potential risks prior to closing including zoning requirements and limitations, municipal requirements and compliance, utility availability, setbacks, topography, environmental history and remediation requirements, geo technical and soil information, and any other potential development issues.
- Manages feasibility analysis for potential acquisitions and creates project business plans with holistic budgets and schedules aligned with corporate business plan objectives.
- Works with inhouse analysts to understand markets, industry trends, and existing and future comps to determine the optimum number of units, mix, rental rates, occupancy, lease up, amenities, quality and design levels for each proposed project.
- Develops detailed program with inhouse analysts and senior management defining every aspect of the project for pro forma modeling, estimating and design guidance.
- Evaluates with VP possible incentive programs including TIF, NMTC, Brownfields, LIHTC, HTC, WHEDA, etc.
- Determines with VP Construction and EVP Development best structure and contract types for construction services.
- Works with VP Construction to produce construction estimates and schedules with internal and external resources, and incorporate into master development budgets and schedules.
- Collaborates with inhouse financial analysts to develop feasibility and final pro formas and ensures accuracy, completeness and minimal investment requirements.
- Develops and maintains strong relationships with stakeholders and decisions makers at local and state levels and influences decisions to favor project objectives.
- Creates, updates and manages holistic project budgets and schedules throughout life or projects, and ensures and is held accountable for meeting or exceeding approved budgets and schedules.
- Works with EVP Development to select and manage third party A/E consultants.
- Assists in the development of new multifamily prototype projects that capitalize on building techniques, materials, systems, technology and processes to deliver a superior product for less costs.
- Collaborates with Property Management, Legal and Accounting as valued partners in the development process, and ensure their portions of the project are fully incorporated in the master development schedules and budgets.
- Communicates issues and information timely and accurately to the pertinent team members.
- Delivering projects with highest value by deploying no more capital than required and producing in the shortest time possible without compromising the required design intent and quality to achieve the maximum return on investment.
- Manages entitlement process with VP Predevelopment, CEO, VP and EVP Development including:
- Site planning approval process to obtain all necessary permits.
- Rezoning or special permit requests with local municipalities.
- Master plans, concept drawings and appropriate materials for presentation at municipal and neighborhood meetings.
- Attends and conducts municipal and neighborhood meetings as necessary.
- Ability to perform land use planning, site design, and feasibility analysis to realize the development.
- Knowledge of real estate entitlement requirements and process throughout Wisconsin.
- Knowledge of current design trends and implications in the multifamily industry.
- Knowledge of construction methods for residential development projects.
- Strong interpersonal and organizational skills including the ability to interact successfully with local officials, community leaders, board members, committees, staff, volunteers and the public.
- Organize and facilitate meetings and events, conduct negotiations, find common ground and develop consensus among disparate interests.
- Knowledge of real estate business practices and ability to interact effectively with real estate developers and brokers.
- Familiarity with a range of policy issues including transportation, community development, water quality, water policy, and natural resources.
- Strong written and verbal communication skills, including the ability to make public presentations to large and small groups, and research and draft media and public education materials.
- Ability to perform real estate market research and complex financial analysis including project pro formas.
- Public administration knowledge to facilitate the acquisition of information concerning real estate values, planning proposals and government initiatives.
Knowledge, Skills, and Abilities
To perform this job successfully, an individual must be able to perform each essential duty well. The requirements listed below are representative of the knowledge, skills and abilities required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of the job.
Minimum of ten (10) years of relevant real estate experience, preferably in multifamily development. The position requires the ability to deal well with people and exhibit strong leadership skills. Evidence of leadership qualities must be exhibited with the region, the company and/or the industry.
A relevant bachelor degree in architecture, engineering, construction, project management or real estate is preferred. The position does require the ability to communicate effectively in English, and the ability to perform advanced business mathematical functions.
Physical demands include the ability to lift up to 50 pounds. The employee will be regularly required to sit; stand; walk; reach using feet, legs, back, arms and hands; talk and hear. The employee may occasionally be required to climb. The employee will be required to work at a personal computer and talk on the phone for extended periods of time. Must possess the ability to detect auditory and/or visual alarms and be available to work extended/flexible hours and weekends, as needed.
This position is a full time salaried position. This position requires the availability to work some nights, and weekends. This position also requires regular attendance and active participation/planning at all company functions and events.
Learning and Development
Maintain a commitment to ongoing professional development and career growth.
Wangard Partners is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or veteran status.
NOTE: This job description is not intended to be all-inclusive. Employee may perform other related duties as requested to meet the ongoing needs of the organization.