Vice President of Multifamily Development

Company: EYA, LLC
Location: Bethesda
Posted on: April 10, 2021

Job Description:

Position Summary:

EYA, a premier residential developer in the Washington D.C. Metropolitan Area, is seeking a Vice President of Multifamily Development in Bethesda, MD. In this position, you will be responsible for managing and executing all aspects of our multifamily rental development business. You will work side-by-side with our acquisition and development team with a focus on delivering a development portfolio of multifamily and mixed-use projects through inception, design, entitlement, construction, marketing, lease-up, and asset management. The VP of Multifamily Development will work with a development analyst, development associate, or development manager and EYA's multifamily construction team to fulfill their responsibilities.

EYA is well known as the DC Region's pre-eminent urban infill townhouse developer. While we have maintained and grown our leadership in the townhouse sector, over the past 10 years EYA has created a successful multifamily business line spanning wood-frame, podium and high-rise construction types. Our multifamily development pipeline includes both merchant build and long-term hold opportunities and ranges from suburban TOD to downtown core. The pipeline also includes several mixed-income projects with regional housing authorities.

EYA has completed over 1,000 multifamily units and has over 1,000 more units in our pipeline in the District, MD, and NOVA. EYA broke ground on our most recent multifamily development in January of 2022 and have one to two closings projected in each of the next two years. We aim to deliver approximately one new multifamily start per year in the DC region.

We are looking for a skilled real estate leader with strong a business acumen and deep multifamily development experience. This is an incredible opportunity to be part of an award-winning company focused on innovative and complex urban-infill development.

Responsibilities:

• Refine and drive EYA's multifamily business plan objectives, including pipeline execution milestones.
• Assist acquisition team in new site and property acquisition and analysis.
• Perform due diligence tasks with respect to zoning, environmental risk, land use regulations, and other potential barriers to development.
• Lead underwriting on new and existing multifamily projects, including market research and competitive positioning.
• Manage pre-development budgets and schedules to ensure execution of overall pipeline and project-specific business plans.
• Collaborate across government agencies to secure entitlements and permits.
• Prepare investment committee memos. Lead JV equity negotiations. Support construction and permanent loan originations and closings.
• Manage JV partnerships and lender relationships.
• Negotiate and manage professional service agreements with owner's consultants.
• Lead multi-disciplinary teams through the project design process and lead decision-making regarding product, positioning and value engineering.
• Represent owner during construction phase and work in tandem with multifamily construction staff to ensure design intent, budget, and schedule.
• Lead property branding and marketing efforts with consultation from EYA's marketing team.
• Represent owner during lease-up and direct external property management to ensure absorption and rent goals.
• Perform asset management functions during duration of EYA's ownership.
• Report out to EYA Management Team on key multifamily business metrics.
  Qualifications:
  
  
  • 8+ years of experience managing full-lifecycle multifamily development projects (at least 3 full-lifecycle projects).
  • Master's in real estate or MBA with Real Estate focus. Engineering or Architectural degree preferred, but not required.
  • Advanced proficiency with Microsoft Excel and excellent financial modeling skills.
  • Excellent research skills and aptitude to understand the dynamics of various locations, submarkets, economic conditions and financial markets.
  • Exceptional written and verbal communication skills.
  • Excellent interpersonal and relationship building skills.
  • Excellent organizational skills and attention to detail, with the ability to prioritize and manage multiple projects simultaneously.
  • A willingness to work flexible hours and in a collaborative, team-based environment.
  • Strong sense of personal motivation, responsibility and drive.
    About EYA:
    
    EYA was established in 1992 with the vision of building innovative urban neighborhoods to the highest standards. The company has made its name and reputation by creating high quality, lifestyle friendly, residential communities throughout the Washington Metropolitan Area. EYA was selected as America's Best Residential Builder in 2002 and 2009 and its neighborhoods have earned over 200 other local and national awards. EYA has served as the master developer for a number of large mixed-use projects and public-private partnerships throughout the region and delivers approximately 200 to 300 townhomes and 200-300 multifamily units annually. Since our inception, EYA has developed, built, and sold more than 5,000 homes in more than 40 communities. Go to to learn more about EYA's development projects and capabilities.
    
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Keywords: EYA, LLC, Bethesda , Vice President of Multifamily Development, Executive , Bethesda, Maryland