TruAmerica Development, Senior Project Manager

About TruAmerica

Founded in July 2013, TruAmerica Multifamily is a partnership between industry veteran Robert E. Hart and The Guardian Life Insurance Company of America. The company is based on the premise that tremendous upside potential remains in mid-tier apartment communities that can be unlocked through tailored renovation, repositioning strategies, and focused management. TruAmerica Multifamily is a privately held, fully integrated, real estate investment firm that invests in apartment communities located in primary and secondary markets throughout the country. We continue to grow by selectively acquiring, redeveloping and effectively managing multifamily properties. TruAmerica has grown to become a Top 25 apartment owner in the United States, according to the National Multifamily Housing Council (NMHC) and is the youngest manager in the NMHC Top 50. Today TruAmerica has over 60,000 units in 25 high growth markets and approximately $16 billion of assets under management.

Objective

The Senior Manager operates as a part of the Development team and is responsible for successful management and execution of all aspects of residential development, with an emphasis on the predevelopment process. Reporting to the Senior Managing Director, Development, this position will take a leadership role as the companys day-to-day point person in the management of pre-development, design, and permitting process of multifamily residential projects, and will play a supporting role in oversight of construction and lease-up. This person will typically manage two to three projects in various stages of development. Primary responsibilities include hiring and managing consultants, overseeing project design, entitlements and permitting, managing budgets and schedules, preparation of project progress reports, and coordination with finance, accounting, asset management and senior management to ensure successful execution of the project business plan investment objectives. Secondary responsibilities include supporting the Acquisitions team in site analysis, due diligence, and creating budgets, proformas, and business plans for new development opportunities.

Tasks and Responsibilities

Cross Functional Relationships and Accountability:

• Responsible for management and coordination of elements of entitlement, design, engineering, permitting, and construction through the development process.
• Manage the entitlement process: direct design team, supervise land use & environmental consultants, interact with community stakeholders, City staff and elected officials, in order to obtain necessary approvals.
• Understand business plan, market positioning and competitive supply to ensure choices in finishes, unit design, and amenities design are appropriate to the business plan. Recommend changes in spec as appropriate for value engineering or to respond to changes in competitive marketplace.
• Manage design consultants including architects and engineers. Oversee the project permitting process.
• Evaluate how site conditions, zoning, utilities engineering and construction factors affect the economics of projects and the feasibility of Conditions of Approval and recommend mitigations or design changes as appropriate.
• Establish, manage, and maintain accurate development schedules and budgets; Manage and communicate projected vs. actual budget reconciliation and cash flow projections; Proactively work to resolve issues and potential issues to keep development projects on-time and on-budget.
• Responsible for updates to leadership, including regular job status reports, budget tracking, reporting & analysis. Monitor billing, cost controls and project accounting with Finance Team.
• For LIHTC projects, manage consultants and coordinate with Finance team to submit successful tax credit applications, obtain project subsidies, and ensure timely submittal of tax credit compliance documents upon project completion. Work with nonprofit and service partners to plan for delivery of resident services.
• Partner with Acquisition team in building accurate development budgets, schedules, and critical paths for new projects; participate in the feasibility analysis, due diligence and closings of land acquisitions.
• Support Finance Team in construction loan closings and monthly loan draw processes.
• When necessary, support construction team in obtaining final sign offs on Conditions of Approval for Certificates of Occupancy, final maps, bond releases, etc. Support construction and property management teams in punch-list completion, property management handoff, and operations start-up.
• Work with property management and key vendor partners to make sure the project design is designed appropriately to support efficient operations. Pre-negotiate key vendor Service Agreements such as fitness equipment leasing or purchase, cable & internet, EV charging, trash, and utilities submetering.
• Partners with senior leadership cross departmentally to recruit human capital to execute the business plan.
• Analyzes project financials and variance reports to ensure maximum profitability
• Prepares/reviews budgets; monitors costs to ensure projects are completed on time and within budget
• Updates job knowledge by remaining aware of new regulations, participating in educational opportunities, reading professional publications, maintaining personal networks, and participating in professional organizations.

People Management Task and Responsibilities:

• Creates an environment and culture that focuses on fulfilling the companys mission, vision, and values.
• Ensures performance related issues are addressed and reach resolution; evaluates performance objectively with a focus on driving the business and results.

Organizational Development and Effectiveness:

• Coordinate with the business units leadership to execute the agreed upon plans and objectives of the Company
• Manage and maintains a trusted and capable network of external partners to ensure continuous success of the Companys strategic plan relative to each local market, including architects, engineers, design consultants, etc.
• Continuously seeks to improve the companys reputation among competitors, in terms of community locations, product innovation, quality, customer service, operational excellence and overall execution in the local market.

Abilities/Qualifications

• 7+ years of experience in real estate project management or related with direct experience in multifamily and/or land development
• Bachelors Degree in Real Estate, Finance, Architecture, Civil Engineering, Construction Management, Business Administration, or other related programs. Masters Degree is preferred but not required
• Highly self-motivated and driven to meet commitments & deadlines
• Able to multi-task and manage several on-going projects in an organized and efficient manner
• Intermediate knowledge of Microsoft Office (Excel, Word, PowerPoint)
• Experience with project management tools such as Microsoft Project and/or SmartSheet
• Exceptional verbal and non-verbal communication skills

Physical Demands

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Ability to sit for up to 10 hours per day
• Ability to move freely around the office for up to 10 hours per day
• Ability to communicate verbally and in writing

Compensation Range

The base salary range for the role is at or around $160,000.00.

Equal Opportunity Employer

• TruAmerica Multifamily is an equal opportunity employer that is committed to diversity and inclusion in the workplace. We prohibit discrimination and harassment of any kind based on race, color, sex, religion, sexual orientation, national origin, disability, genetic information, pregnancy, or any other protected characteristic as outlined by federal, state, or local laws.
• This policy applies to all employment practices within our organization, including hiring, recruiting, promotion, termination, layoff, recall, leave of absence, compensation, benefits, training, and internships. TruAmerica Multifamily makes hiring decisions based solely on qualifications, merit, and business needs at the time.

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