Sr. Real Estate Development Manager, Multifamily

The Church of Jesus Christ of Latter-day Saints•Salt Lake, UT

53d•Onsite

About The Position

At Property Reserve, our people, values, and work come together to build something greater. Property Reserve is the real estate investment arm of the reserve funds for The Church of Jesus Christ of Latter-day Saints. In the spirit of time-tested self-reliance principles, Property Reserve creates sustainable cashflow for future needs. As caretakers of sacred funds, we invest in income-generating properties and land to support the Church’s mission. Our focus is on the acquisition, build-to-hold development, and portfolio level management of office, industrial, multi-family, build-to-rent, hospitality, and retail properties. Property Reserve provides a diverse range of investment experiences, interacting with a seasoned leadership team. Working in a highly collaborative environment, each Property Reserve team member has the chance to contribute meaningfully and frequently to the company culture. Headquartered in downtown Salt Lake City, we offer a locale with a unique blend of world-class outdoor recreation, a thriving culture & arts scene, and diverse housing options with convenient commutes. The Senior Development Manager, Multifamily leads the successful execution of multifamily, build-to-rent, and other residential development projects from initial feasibility through stabilization. This role is responsible for coordinating market analysis, site selection, due diligence, underwriting, entitlements, design, budgeting, scheduling, construction oversight, risk management, and project reporting to ensure projects are delivered consistent with approved business plans, investment objectives, scheduled turn over projections, and owner expectations. The Senior Development Manager contributes to residential investment strategy and creates value through disciplined execution, clear decision-making, risk management, and leadership of internal teams, development partners, consultants, contractors, municipalities, and other stakeholders.

Requirements

Member of The Church of Jesus Christ of Latter-day Saints and currently temple worthy.
Bachelor's degree in Real Estate, Finance, Business, Construction Management, Engineering, Architecture, Urban Planning, or related field required.
Minimum of 8 years of progressively responsible commercial real estate development experience with significant exposure to multifamily, build-to-rent, single-family rental, or residential land development projects.
Experience managing institutional-quality multifamily or build-to-rent projects across multiple jurisdictions preferred.
Demonstrated experience managing projects through acquisition, entitlement, design, construction, and delivery.
Strong understanding of residential development economics, real estate finance, capital markets, market analysis, financial modeling, investment underwriting, project pro formas, development budgeting, construction practices, and entitlement processes.
Proven ability to identify, evaluate, and execute profitable development opportunities.
Strong analytical, quantitative, problem-solving, negotiation, communication, presentation, leadership, collaboration, relationship-building, and prioritization skills.
Strong work ethic, entrepreneurial mindset, attention to detail, sound judgment, ability to influence across teams, and commitment to excellence.
Ability and willingness to travel as required.

Nice To Haves

MBA, MRED, MSRE, or other related advanced degree preferred.

Responsibilities

In collaboration with senior leadership, help define and implement the Company's residential development strategy, with particular focus on multifamily and build-to-rent investment opportunities.
Evaluate and support the pursuit and execution of new residential development opportunities through market research, financial analysis, site feasibility, and due diligence.
Lead projects from acquisition through stabilization, maintaining clear accountability for budget, schedule, scope, risk, quality, investment performance, and alignment with approved business plans.
Coordinate land planning, architecture, engineering, permitting, entitlements, utility coordination, municipal approvals, and community engagement while resolving key entitlement, design, construction, and financial risks.
Manage development partners, consultants, architects, engineers, contractors, and internal project teams to protect owner interests, coordinate execution, and deliver projects on time and to quality expectations.
Review and evaluate project budgets, change orders, contingency use, pay applications, project schedules, and major project risks.
Prepare and review financial models, budgets, return analyses, investment recommendations, and executive updates, reports, and review board-level materials that clearly identify key decisions, risks, costs, schedule impacts, and recommended next steps.
Monitor market trends, demographic shifts, competitive developments, construction costs, and economic conditions impacting residential investment opportunities.
Negotiate development agreements, consultant contracts, and other project-related documents.
Support portfolio-level initiatives, strategic projects, process improvements, including standardized reporting, consultant management, budget controls, project risk tracking, and by establishing development best practices, process improvements, and operational efficiencies.
Provide mentorship, guidance, and work direction to other members of the development team as assigned.
Perform other essential duties as assigned.