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VP of Residential-New Markets

Los Angeles, CA

Property ManagementRegular Full-Time

overview

Edgewood Logo

Edgewood Properties, a leader in Real Estate development, is seeking a VP of Residential-New Markets.

Since its founding in 1992, Edgewood Properties has established itself as a leading real estate development, construction and property management company.  Based in New Jersey, the Company is on a course of growth leading to activities all across the nation.  Edgewood Properties was created and is owned and managed by real estate entrepreneurs who bring a hands-on approach to all projects it develops, leases and manages.

With the company’s continued growth outside of the NJ area, this position is responsible for managing all phases of opening new multi-family rental communities, primarily outside of the New Jersey area. Lead all initiatives as it relates to new development/lease-up activity in Florida, California and any new markets Edgewood Properties enter. Identify new opportunities and conduct market surveys and analyses to determine feasibility of new developments. Be a market expert and familiar with market comps. Assist in determining unit mixes, floor plans and amenity programming based on targeted demographic of our renter. Work closely with Ownership, Design, Construction and Marketing to manage all aspects of bringing a new community on line. This includes setting rents, overseeing marketing and ensuring absorption and leasing goals are realistic and all targeted milestone dates are met.

This position will be based out of California, but travel would be required as new markets are identified for development.

responsibilities

  • Lead all operation efforts as it relates to opening new multi-family rental communities.
  • Determine who the targeted renter and renter profile is prior to preparing the proforma, taking into consideration who the comps are.
  • Review all floorplans and blueprints to ensure all applicable and desired design elements, amenities, work areas, and clubhouse functions are captured by the architects.
  • Propose unit mixes and amenity programming based on market research and our targeted renter profile.
  • Review all mechanical and engineering designs with the VP of Residential Maintenance prior to actual build out.
  • Prepare Proforma of anticipated annual rents and expenses.
  • Conduct market research/analyses and determine who the comps are; set and position community and rents accordingly against the competitors.
  • Manage and coordinate all marketing and advertising efforts by working alongside the marketing team.
  • Prepare lease-up plan and leasing goals which are realistic based on absorption schedule from Construction.
  • Ensure all targeted milestones and leasing & occupancy goals are met.
  • Collaborate with Construction, Engineering, Design, Marketing, Accounting and Maintenance to manage all aspects of bringing a new community on line.
  • Responsible for conduction of interviews, hiring and training of all personnel at each lease-up property.
  • Prepare first year lease-up budget for each new community.
  • Responsible for all project coordination as it pertains to each lease-up.
  • Ensure website is updated with lease-up information and maintained accordingly.
  • Lead Lease-Up asset team meetings with all functional groups and create meeting agenda and update minutes.
  • Organize press releases as it pertains to each lease-up as applicable.
  • Organize and execute all event planning such as:
    • Community Grand Opening and Ribbon Cutting Ceremony
    • Marketing/Promotional events
    • Special broker and open house events

qualifications

  • proven experience in customer and market research
  • relevant product and industry knowledge in luxury multi-family residential experience in Florida and California
  • experience with Proforma and budgets creation
  • experience opening at least 5 luxury lease-ups, preferably in the California and Florida markets
  • knowledge of California and Florida housing laws and requirements
  • talent management experience as it relates to recruitment, hiring and training of staff
  • prior minimum 5 years’ experience in a senior executive level with an established multi-family property management company, owner or operator.
  • bachelor degree required
  • must possess great organization skills and ability to prioritize work
  • must possess great business acumen
  • must possess ability to read and interpret architectural drawings
  • experience in all aspects of developing and maintaining marketing strategies as it pertains to lease-ups

For immediate consideration, please apply online at www.edgewoodproperties.com/careers.

In return, we offer competitive compensation, along with comprehensive benefits, including medical and dental and vision benefits, life insurance,

a 401(k) with company match and a corporate team environment with opportunity of advancement. Also includes on-site company fitness gym, discounts on housing and home appliances.  

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, or protected veteran status.