Development Manager

Overview

The Company

Lowe is a private real estate investor, developer and manager. Founded in 1972 by Chairman Robert J. Lowe, the company is owned by active and retired employees. Over the past 50 years, Lowe has acquired, developed or managed over $32 billion of real estate assets. Lowe maintains offices in Los Angeles, Oakland, San Diego, Irvine, Denver, Seattle, Washington, DC, and Charleston, SC. Lowe uncovers and delivers value beyond what might be expected from a traditional real estate company. We value collaboration and partnership with others, welcoming new ideas and perspectives. Lowe is committed not to a single service, property type or location, but to mastering the process of building value in real estate. We develop, we invest, and we manage. We create hotel, multifamily, retail, and office properties. Often, we get the opportunity to combine all of these skills to create a new mixed-use environment. Through our foundation of steadfast values and innovative real estate services we strive to build value by creating meaningful experiences that connect people and place. We tailor our approach to the needs of each asset and the goals of each partner and find opportunities in solving complex challenges.

Job Overview

The San Diego office is seeking candidates for a Development Manager role. The Development Manager shall report to the San Diego Regional Leader and support the Senior Project Manager on the repositioning of two (2) retail mall projects and assist the team with other existing projects and new business pursuits. The Development Manager responsibilities shall include, but not be limited to, coordination of consultants, management of design and building renovations, supporting the operations and leasing team, business plan performance, budget, schedule and proforma, monthly reporting to financial partners and quarterly reporting to the Lowe executive team.

Responsibilities

Primary Duties and Responsibilities

• Entitlements, mapping and permitting.
• Design and consultant team management through the preconstruction phase.
• Contractor and supplier selection.
• Branding, marketing, website and leasing collateral.
• Leasing and coordination with third party leasing brokers.
• Design scope, budget, schedule, leasing, operations and proforma performance measured against the approved business plan.

Finance and Accounting

• Budgets and Schedules
• Coordinate with the analyst teams to assemble and update detailed development budgets, financial proformas and all supporting data in accordance with the approved business plan.
• Generate, maintain, and update project schedules.
• Coordinate with the leasing and asset management team and third-party property managers to generate, maintain, and update project operating budgets and revenue projections.
• Accounting
• Review and approve invoices and coding for entry into Yardi and on time payment.
• Monitor invoice and payment issues.
• Coordinate with accounting team on creation and prompt distribution of monthly draw package to Ownership and lenders.
• Insurance
• Coordinate with Risk Manager to ensure insurance requirements are being fulfilled.

Reporting and Compliance

• Prepare monthly reports and participate in monthly Project update calls/meetings.
• Organize and lead relevant recurring calls/meetings with development team, consultants and Ownership.
• Ensure the project complies with all relevant project documents including Joint Venture Agreements and Development Management Services Agreements.
  • Manage both outside and in-house legal counsel as necessary regarding Project legal issues.

Knowledge/Skills/Abilities

Experience and knowledge of large-scale commercial projects including:

• Underwriting & Financial pro forma development.
• Consultant selection and coordination.
• Understanding of, and ability to coordinate with, various community stakeholders.
• Ability to achieve the highest quality results in all Project aspects.
• Ability to lead decision-making processes related to Project visioning, execution, and financial analysis.
• Strong organizational, written and oral communication skills.
• Ability to function independently and work collaboratively with other members of the development team as necessary.
• Ability to exercise good judgment and interface with all types of people diplomatically and tactfully.
• Energetic self-starter with strong work ethic and highest level of integrity.
• Ability to develop accurate and effective budget projections.
• Ability to prioritize and handle multiple tasks while meeting established deadlines.
• Excellent written and oral communication capabilities which demonstrate appropriate interpersonal and team-building skills in interfacing with internal and external client, consultant and public/private relationships and residents.
• General familiarity of the full cycle of horizontal and vertical development processes, including entitlements, design, marketing, financing, construction, marketing & branding, and leasing matters for projects of institutional size and quality.
• Proficiency with Microsoft Word, Excel, Outlook, and PowerPoint, and Smartsheet.

Qualifications

• 2 - 5 years of experience working in a real estate investment or development environment, preferably a developer, investor, or asset manager preferably with some retail experience.
• Must possess financial analysis skills, be proficient with budgeting, real estate financial modeling, scheduling, and have effective negotiating skills.
• Proven success and passion for building and sustaining strong relationships with team members, partners, consultants, community stakeholders and jurisdictional authorities.
• Effective communication skills, both written and oral.

Education

• Bachelor's degree required.

Compensation:  $150,000 – 175,000, 15% - 20% bonus target. We offer a competitive benefits package for full-time, regular team members, which includes group medical, dental, vision, life, and disability benefits, as well as critical illness and accident insurance. Additionally, we offer participation in pre-tax flexible benefits plans that include healthcare and dependent care reimbursement, as well as an employee assistance program. We also offer paid vacation, paid sick time, paid holidays, and are proud to provide participation in a 401(k) plan with a company match.