Development Manager

Boston

Position Background:

The Development Manager will assist Project Executives on all aspects of various ground-up and redevelopment projects, and capital/tenant improvement projects throughout the firm’s dynamic, mixed-use urban portfolio of commercial real estate assets.  The Development Manager will be responsible for executing elements of the approved business plan on time and on budget with regular reporting to senior management.  Regular reporting will include but not be limited to maintaining & updating development materials for internal review and presentation such as project reports, budgets, and schedules.  The Development Manager will be responsible for the overall coordination of internal and external project teams including design consultants, construction, legal, leasing, marketing, and property management and will work with senior staff to track potential changes to project schedule/budget and work with accounting to track changes and create monthly draw requests and investor reports.  Lastly, the Development Manager will oversee all aspects of Tenant Coordination with guidance and support from Project Executives.

Responsibilities:

General Project Management:

  • Coordinate with internal project team including construction, legal, leasing, marketing, property management and accounting to effectively execute development projects.
  • Work with leasing department on development of Landlord delivery scopes of work and TI estimates. Work with construction on creating estimates for such work.
  • Coordinate and manage third party design teams including all architects and engineers for design of project. Until a Design and Construction Manager is identified for such projects, this will include negotiation of contracts, holding teams accountable to budgets and schedule, participating in all design meetings and providing feedback, and ensuring coordination between consultants to deliver a product on time and on budget.
  • Maintain & update development materials for internal review and presentation, includes project reports, budgets, and
  • Update Project Executives’ potential changes to project schedule and budget and solutions for managing variances.
  • Prepare predevelopment budgets and work with accounting to track budget changes and create and approve draw
  • Coordinate timely payment of draws with lender and JV partners.
  • Requests and obtains approvals from lenders and JV partners per governing documents.
  • Prepare materials for decision-making meetings, which are included but not limited to approval of the exterior design, interior design direction, development program, and marketing plan.

Permitting/Design Support:

  • Attend project meetings and hearings during the permitting process and support Project Executives with various follow-up work
  • Review permitting documents and coordinate with consultants to provide technical feedback/assistance
  • Obtain consultant proposals for development projects and track soft costs as project scope evolves
  • Track project details as design evolve (update construction cost estimates, gross and rentable square footages, etc.)
  • Maintain project plans, reports, images, etc.
  • Maintain project files on MFILES.

Financial:

  • Work with finance and accounting on various financial models, budgets and relevant project reporting tools. Keeps proforma and predevelopment budgets regularly updated and troubleshoots any potential variances.
  • Tracks proforma versus actual during the transition of asset to operations. Participates in turnover process to operations so team is aware of all permitting obligations and team understands underwriting objectives for lease up.

Tenant Coordination

Overall responsible for effective and accurate communication of materials among project teams both internal (development/ construction, leasing, and legal, property/ asset management, finance and accounting) and external (consultants, contractors, Tenants, Tenants’ consultants, and Tenants’ contractors) to meet project-specific goals.  The Tenant Coordinator must provide a high-quality service to all teams while simultaneously managing a high volume of projects and details.

 

Tenant Coordination Responsibilities:

  • Assume responsibility for Tenant Coordination for retail, restaurant, office and spaces across the firm’s portfolio. This includes working with architect to create LOD’s for leasing, working with leasing on NER’s, cost estimates, and landlord delivery scopes.  Participating in lease comments so that timing and delivery scopes are accurately reflected.
  • Participate in LOI discussions and prepare LOI exhibits as directed by project managers and senior staff.
  • Work with the project manager and leasing team on the construction and development sections of new leases and prepare Lease Outline Drawings (LOD’s) and/or related plans for lease exhibits. Includes coordination of external consultant team dependent upon complexity of exhibits.
  • Abstract leases (including coordination and comparison with lease administration) specific to development/construction items and develop a critical date tracking schedule to track critical dates for compliance. Includes communicating critical dates to both internal and external teams.
  • Engage building management team once LOI’s are finalized. Send relevant exhibits and tenant plans to building management team for review and comments. Work with building management teams to tour tenant through back of house and building utility rooms relevant to tenant build outs.
  • Maintain & update tenant coordination materials (reports, checklists, etc.) for review and presentation at weekly leasing meetings and company-wide project meetings. Maintain & update Monday morning Development/ Leasing Check-in agenda with input from legal and leasing teams. Present weekly updates for discussion with the leasing/ development groups during regular check-ins. Send out follow-up notes with action items following the Monday morning meeting.
  • Review Tenant plans to ensure that they meet lease requirements, permit requirements, and general building requirements. Coordinate plan comments with construction, development and building teams to submit them back to tenant on time. Track open comments with tenant during construction to ensure all requirements are met and plans are executed correctly.
  • Collect required materials from Tenant construction team including permits, insurance certificates, reports and additional information on design (storefront shop drawings, slab scanning reports, schedules) on time per outlines of the lease and construction exhibits.
  • Coordinate with Project Manager on all Landlord work prior to delivery to adhere to lease delivery dates. Work with building and lease administration team on delivery to get tenant started on Tenant work in the space.
  • Set-up an initial meeting to delivering tenant spaces with Tenant’s, Tenant’s GC and Building Management team to kick off the tenant’s construction period.
  • Work together with the building management team to monitor the construction progress of all Tenant work following delivery. Ensure adherence to lease dates and other lease requirements. Notify building and lease administration team of key lease dates and any notices that need to be submitted to the tenant per the lease.
  • Track tenant inducement payments per the lease, collect the required documentation from tenant and tenant GC and put in requests for TI funding to building management and accounting teams.
  • Notify lease administration and building teams upon completion of tenant’s construction period to transition tenant over fully to building a management team and send relevant commencement notices.
  • Maintain reports and documentation regarding all aspects of the Tenant Coordination process in M Files and One Note, including compiling and organizing project/ site-specific documents for reference by building teams, leasing teams and development teams.
  • Monitor construction progress to ensure adherence to lease dates

Educational Requirements and Skills:

  • B.A. or B.S. in civil engineering, city planning, architecture, finance or related fields
  • 3-5 years job experience in a real estate related field
  • Experience in design, construction, leasing, tenant coordination, or property management
  • Basic knowledge of permitting and entitlements
  • Strong Microsoft Office skills, especially Excel, PowerPoint and Project.
  • Strong written and oral communication skills and ability to proactively manage responsibilities in a fast-paced, entrepreneurial, environment