Development Manager

MADHOUSE DEVELOPMENT SERVICES • Austin, TX

1d • Hybrid

About The Position

At Madhouse, our people are our greatest differentiator and competitive advantage. We are all united in delivering the best communities possible for our residents. We’re proud to be a close-knit team that values integrity, teamwork, and growth. We offer a flexible, fun, and collaborative work environment. As a member of the Real Estate team, the Development Manager will report to the Vice President of Development.

Requirements

• Acts as an expert in each Texas market, with a strong knowledge of competitive communities, the development pipeline and other economic drivers that could impact performance.
• Knowledge of public and private housing finance programs and related compliance requirements, including HUD, HOME, Section 8, IRS Section 42 and other programs.
• Engages in frequent verbal and written communication with internal and external parties which may include, lenders or equity investors and their representatives, outside counsel, agencies, special servicers, and potential investors.
• Working experience with Limited Partnership agreements, loan documents, regulatory agreements, service agreements, or other legal documents relating to conventional and affordable real estate transactions.
• Ability to understand, and to seek explanation of, complex written regulations from various government agencies.
• Strong technical and analytical skills, as well as an understanding of accounting and financial principles.
• Ability to work with large databases and datasets for extraction and conversion into useful business information.
• Organizational skills with the ability to manage multiple projects simultaneously.
• Ability to cope with deadline pressures.
• Highly self-motivated with the ability to work effectively in a fast-paced environment.
• Leadership and excellent verbal, written, and interpersonal communication skills are required to effectively manage complex assets and relationships.
• Ability to write memos, reports, presentations, and business correspondence.
• Ability to interact with all levels of management, work within a casual team environment, and work independently.
• Strong negotiation and presentation skills.
• General understanding of real estate practices.
• Ability to solve unstructured problems.
• Understands the value of team approach and effectively uses teamwork to improve results.
• Proactive, takes initiative, thinks creatively, and drives projects to completion.
• Bachelor's Degree in Business Administration, Accounting, Finance, Economics, Real Estate Development, or related field work experience
• 3-5 years of real estate development experience with a proven record managing varied project tasks.

Nice To Haves

• Master’s Degree from an accredited four-year college or university is a plus.
• Experience related to LIHTC/affordable housing is a plus.
• Excellent working knowledge of software programs Microsoft Excel, Word, and Teams; Microsoft Access, Project and Advanced Excel skills is a plus.

Responsibilities

• Provides leadership and support on project development and production.
• Has business development duties that include a range of networking and outreach activities decided on together with the Vice President.
• Communicates effectively with contractors, consultants, and building officials.
• Defines the project scope and sets up a schedule and budget.
• Responsible for keeping Project Team on schedule and budget.
• Negotiates land purchases with Sellers.
• Subject to the approval of Madhouse, negotiates agreements for architectural, engineering, testing, or consulting services for the property, and any agreements for the construction of any improvements to be constructed for a Development or the furnishings of any supplies, materials, machinery, or equipment required.
• Aligns project team (Architect, Engineers, Contractors, Management Agent, Product & Specialty Consultants such as Telecom, Security/CCTV, Access Control, Furniture, Fitness Equipment, etc.).
• Coordinates with project consultants during the due diligence process including architects, engineers, appraisers, market analysts, surveyors, title companies, and other consultants as necessary.
• Prepares and reviews plans and specifications. Provides the final drawing review before initial team redlining process.
• Reviews and complies with all financing documents for capital sources and funding installments.
• Owner Representative; initiates project meeting schedule, coordinates and attends design and entitlement meetings, and is the main contact responsible for responding to project emails and phone calls.
• Responsible for personal and Project Team’s time management; understand development costs, keep track of schedule and budget.
• Keeps Executive Team up to date with project status during Weekly Team Meetings.
• Leads Project Team; delegate tasks, dictate deliverables, manage project schedule, assign due dates, review deliverables before final closing.
• Reviews submittments, RFIs, and participates in value engineering and pricing exercises.
• Provides advice and recommendations as to the selection procedures for the Housing Tax Credit application(s) for scoring purposes. Lead the structuring, assembly, and review of funding applications.
• Monitors the construction of the Development, making recommendations for approval of such changes, as it believes may be in the best interest of Madhouse.
• Inspects the progress of the course of construction of the Development, including verification of the materials and labor being used on the property to be able to advise Madhouse relative to construction draws.
• Prepares RFQ/RFP responses. Shows the ability to convey the firm’s ideas to potential clients.
• Works with the management team selected by Madhouse to ensure timely lease-up, loan conversion, and stabilization of the Development.
• Sets the overall project schedule based on permitting, entitlements, financing, construction, and lease-up timelines, and obtains Vice President approval before distributing the schedule to the Project Team.
• Sets and continuously manages the overall project budget based on past projects and underwriting expectations, and monitors the draw process to ensure adequate funding for each line item throughout the project.
• Leads weekly Project Team meetings to review updates, due diligence items, and closing progress, and attends weekly meetings with the Vice President to review project financing and look-ahead items.

Benefits

• 100% Employer Sponsored Health, Dental, Vision and Disability insurance.
• Retirement Plan with 3% Company Match.
• Flexible Paid Time-Off including (8) paid holidays, sick days, and volunteer time off.
• Year-End Bonuses.
• Monthly cell phone reimbursement.
• Employer sponsored opportunities for learning and growth, professional memberships, professional certifications, and CEU’s.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level