Objective of the Role
The Construction/Development Manager reports to the CEO.
He /She is responsible for driving new development opportunities to the market. The secondary role of the Development Manager (DM) is to help oversee, manage and grow the development portfolio, thereby increasing its market capitalization.
- Evaluate new sites for acquisition and determine alignment within the Company’s overall strategy.
- Conduct physical inspections and market research studies
- Work with Asset Management to prepare a preliminary financial pro forma for the project
- Prepare a deal memorandum in requisition to acquiring the site
Design and Feasibility
- Manage design/coordination meetings and work with the Construction Team to maximize desirability, efficiency, and sustainability of a project.
- Work with the Construction Team to develop schematic site plan options reflecting potential building alternatives and develop the final project design and development drawings
- Work with the Asset Management team to raise debt and equity for projects by providing relevant information and analysis and attending lender/investor meetings
- Develop detailed financial models showing the cash flows projections, project costs, investor returns, and debt financing for projects
- Develop strategies to maximize value and minimize risk such as joint ventures, co-development, and sale lease backs
Pre-Construction and Construction
- Manage the procurement of permits, entitlements, and any other necessary documentation needed to commence development
- Asses and negotiate contract works packages during the tender process and make recommendations on pricing, project contractors, consultants and other members of the professional/technical team
- Collaborate with on-site Project Management to monitor the progress of work on site in terms of the plan and budget, review construction contract documentation, including drawings, specifications and bills of quantity to confirm that the project is built to agreed specifications. Advise on project provisions for cost overruns, construction time frames, program delays, advance payments, retentions, insurance, performance bonds etc.
- Advise on all relevant standards and regulatory approvals that should be complied with or secured
- Attend site meetings to proactively monitoring and assess project performance from a cost, time and quality perspective
- Collaborate with on-site Project Management to undertake a technical risk analysis of the Project and suggest appropriate solutions
- In conjunction with marketing department devise a marketing strategy to identify, reach and lease space to targeted clients
- Determine market rents and generate marketing brochures to distribute to potential clients
- Negotiate with clients to achieve value maximizing revenue for each project
- Report planned & executed leasing activities to appropriate Executive Management
- Asses and negotiate contract works packages with facility management companies during the tender process and make recommendations on pricing and scope of work
- Research and track latest industry trends for assigned projects.
- Drive successful implementation of development processes providing single point of project accountability
- Proactively identify any issues that may affect project execution and successful completion of the Project, and report this to the Management Team
Specific responsibilities include:
- Completing comprehensive due diligence of each prospective site (including obtaining and reviewing all soils and environmental reports, surveys, utility/ acoustical/ & other studies as necessary);
- Oversight of the entire entitlement process (including obtaining all planning/ zoning and other necessary city and state approvals, including managing EIA processes);
- Directing architects and other consultants;
- Completion of all project bidding and bid qualification;
- General Contractor selection & contracting;
- Overseeing the entire permit process;
- Directly managing the entire construction process through turnover to Operations/ mall opening, and construction close-out.
- Initiating, managing and completing property development projects in accordance with organization’s strategies.
- Negotiating with all appropriate stakeholders to ensure project achieve necessary approvals.
- Ensuring the organization is offered opportunities to present proposals for potential development projects and effectively market proposals for leasing and investment.
- Acting as the organizations representative for all building contracts. Negotiating contracts and settling disputes in accordance with organization requirements.
- Developing and implementing appropriate property management policies, systems and processes.
- Preparing detailed project strategies and plans for development projects and undertake detailed feasibility and financial analysis of prospective projects, project tracking and evaluation.
- Selecting and managing projects teams of consultant and contractors.
- Assisting with the development of business plans.
- Prepare and execute on the annual strategic business plan for each property including preparation of acquisition / disposition opportunity, objectives, sales and leasing objectives, operating budgets and capital renovation projects.
- Prepare, manage and keep all operating budgets for all company properties
- Develop and implement sales, leasing and repositioning strategies including marketing and advertising plans and tenant relations initiatives
- Complete annual valuations and quarterly reports for the properties and lead investor reporting.
- Responsible for monthly reports for each property, giving detailed analysis of the financial and physical aspects of the property.
- Review, recommend approvals / disapprovals / changes to all proposed tenant improvement expenditure and other capital expenditures of the properties.