Project Manager of Development
Cleveland, OHApply Now
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NRP Investments, LLC is currently seeking a Project Manager of Development in the Cleveland Office.
Under the direction of the Director of Project Management, the Development Project Manager (PM) bridges the expectations and efforts of all parties involved in the predevelopment and development processes for multifamily market rate and affordable developments, leading the project team to a financial closing. The PM executes micro tasks along the critical path of development, but addresses projects from an increasingly macro perspective.
The PM works with various specialists to help them execute their tasks so that they are not adversely affecting target dates for tax credit applications, closings and groundbreakings. Specifically, this position affects relationships with staff of project partners, consultants (including design, environmental and other), attorneys, NRP development staff, NRP construction staff, lending institutions, project engineers, project architects and municipal officials.
To accomplish this job successfully, an individual must be able to perform, with or without reasonable accommodation, each essential function satisfactorily. Reasonable accommodations may be made to help enable qualified individuals with disabilities to perform the essential functions.
• Ensures that colleagues on the development team are completing and effectively prioritizing their project-related tasks in a timely manner, according to the established project timeline and associated milestones.
• Understands and leverages relationship with debt, equity and gap financing institutions toward benefiting NRP’s economic interest in projects.
• Displays a working knowledge of how development budget line items are quantified and what biggest threats are to each budget line.
• Completes Low Income Housing Tax Credit and related funding applications; manages relationship with the Housing Finance Agencies
• Approves and signs off on all soft cost vendor payments.
• Develops effective relationship with attorneys, lenders, equity providers, appraisers, environmental consultants, market study firms, etc. to negotiate fee and scope of services in the assembly of development teams.
• Works with other members of the Design & Entitlements team on the engagement of the design team; negotiates fee and scope of service with same.
• Leads communications with title including timely review of title commitments and identification and resolution of acceptable title clouds, etc.
• Secures information/deliverables needed for various closing checklists.
• Coordinates and procures builders risk and general liability insurance for partnership.
• Assists Director of Project Management and Finance Team with creation of development budgets for future projects.
• Communicates with Director of Project Management by providing project information to be shared with Executive Management on status of project timeline and critical path items.
• Coordinates, in conjunction with the Horizontal Design and Entitlements Manager and Vertical Design Manager, all variances and site plan approvals for all development projects.
• Effectively represents NRP and project partnerships as needed in public meetings.
SKILLS & ABILITIES
Education: Graduate degree preferred or Bachelor’s degree plus relevant experience
Experience: 2-5+ years of real estate development experience; experience with LIHTC preferred