Director of Residential New Development
Piscataway, NJ
Property ManagementRegular Full-Timeoverview
Edgewood Properties, a leader in Real Estate development, seeking a Director of Residential Operations.
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.
We're currently seeking a Director of Residential New Development for our multi-family portfolio of properties, with at least 5 years of industry experience.
As the Director of Residential New Development, role will oversee all phases of identifying new markets, properties and opportunities as well as opening new multi-family rental communities; lead all initiatives as it relates to new development/lease-up activity of approximately 15,000 units in the pipeline. This includes obtaining approvals, overseeing construction and the lease-up of the units.
Be a market expert and familiar with all markets we operate in; we are in NJ, FL, CA and PA. Assist in determining unit mixes, floor plans and amenity programming based on targeted demographic of our renter. Work closely with Ownership, Design, Construction, Maintenance and Marketing to manage all aspects of bringing a new community on line; includes setting rents, overseeing marketing and ensuring absorption and leasing goals are realistic and all targeted milestone dates are met.
responsibilities
- Lead all operation efforts as it relates to a new development/lease-up.
- Collaborate with Ownership, Construction, Engineering, Marketing, Accounting and Maintenance to manage all aspects of bringing a new community on line.
- Review all floorplans and blueprints to ensure all applicable and desired design elements, amenities, work areas, and clubhouse functions are captured by the architects.
- Review all mechanical and engineering designs with the VP of Residential Maintenance prior to actual build out.
- Determine who the targeted renter and renter profile is prior to preparing the proforma, taking into consideration who the comps are.
- Prepare Proforma of anticipated annual rents and expenses.
- Conduct market research and determine who the comps are and set and position community and rents accordingly against the competitors.
- Manage and coordinate all marketing and advertising efforts with the marketing team and Director of Marketing.
- 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 by working with the Director of Residential Operations.
- Prepare first year lease-up budget for each lease-up.
- Responsible for all project coordination as it pertains to the lease-up.
- Lead weekly Lease-Up asset team meetings with all functional groups and create meeting agenda and minutes.
- Organize press releases as it pertains to lease-ups as applicable
- Organize and execute event planning such as:
- Residential Rental Communities Grand Openings and Ribbon Cutting Ceremonies
- Marketing/Promotional events
- Special broker and open house events
qualifications
- experience in all aspects of developing and maintaining marketing strategies as it pertains to lease-ups
- experience with land use approvals
- proven experience in customer and market research
- relevant product and industry knowledge in luxury multi-family residential experience
- experience with Proforma and budgets creation
- experience opening at least 5 luxury lease-ups
- knowledge of NJ housing laws and requirements
- talent management experience as it relates to recruitment, hiring and training of staff
- prior minimum 10 years’ experience in a senior executive level with an established multi-family property management company, owner or operator
- must possess great organization skills and ability to prioritize work
- must possess great business acumen
- must possess ability to read and interpret architectural drawings
The successful candidate will undergo a background check and drug screen.
In return, we offer competitive compensation, along with comprehensive benefits, including medical and dental and vision benefits,
life insurance, a 401(k) and a corporate team environment with opportunity of advancement.
Also includes on-site company fitness gym, discounts on housing and home appliances.
For immediate consideration, please apply online at www.edgewoodproperties.com/careers.
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, or protected veteran status.