The Company

Lowe is a private real estate investor, developer and manager. Founded in 1972 by Chairman Robert J. Lowe, the company is owned by active and retired employees. Over the past 50 years, Lowe has acquired, developed or managed over $32 billion of real estate assets. Lowe maintains offices in Los Angeles, Oakland, San Diego, Irvine, Denver, Seattle, Washington, DC, and Charleston, SC. Lowe uncovers and delivers value beyond what might be expected from a traditional real estate company. We value collaboration and partnership with others, welcoming new ideas and perspectives. Lowe is committed not to a single service, property type or location, but to mastering the process of building value in real estate. We develop, we invest, and we manage. We create hotel, multifamily, retail, and office properties. Often, we get the opportunity to combine all of these skills to create a new mixed-use environment. Through our foundation of steadfast values and innovative real estate services we strive to build value by creating meaningful experiences that connect people and place. We tailor our approach to the needs of each asset and the goals of each partner and find opportunity in solving complex challenges. 

Job Overview

The Washington, DC office is seeking candidates for a Development Manager role to oversee the day-to-day management of a multifamily rental to condominium conversion project in Washington, DC.  The Development Manager will work closely with, and report to, the Senior Vice President of Development and the Executive Vice President of the DC office.  The PM responsibilities will include, but not be limited to, onsite management of the building renovations, coordination and management of the design, sales, and marketing teams, resident communications, and oversight of post-closing warranty claims.

Primary Duties

• Serve as the primary point of contact for the design team and all project consultants.
• Manage the design team through the preconstruction phase.
• In collaboration with the design team, identify and contract with all contractors to perform the renovation.
• Work with the Lowe development team and the branding consultant to rebrand the building. This will include managing the creation of a website and all sales collateral to be used by the sales team.
• Manage all third-party consultants to ensure that the team is meeting the approved business plan goals with respect to design scope, budget, and schedule.
• Maintain a detailed project budget to be updated monthly with actual costs to ensure the project is the approved budget is maintained.
• Oversee the buildout of the model units and onsite sales center.
• Serve as the daily point of contact for the onsite sales team for the duration of the unit sellout, ensuring that the Owner can quickly and effectively respond to buyer feedback
• Serve as the daily point of contact for existing unit residents and assist the management team with tenant communication, including the coordination of tenant move-outs.
• Serve as the Owner’s representative for all unit buyers, ensuring an outstanding customer service experience from move-in through all service requests and warranty claims that may arise.

Finance and Accounting

• Budgets and Schedules
  • Coordinate with the analyst teams to assemble and update detailed development budgets, financial proformas and all supporting data in accordance with the approved business plan.
  • Generate, maintain, and update project schedules.
  • Coordinate with the asset management team and third-party property managers to generate, maintain, and update project operating budgets and revenue projections.
• Accounting
  • Review and approve invoices and coding for entry into Yardi and on time payment.
  • Monitor invoice and payment issues.
  • Coordinate with accounting team on creation and prompt distribution of monthly draw package to Ownership and lenders.
• Insurance
  • Coordinate with Risk Manager to ensure insurance requirements are being fulfilled.

Reporting and Compliance

• Prepare monthly reports and participate in monthly Project update calls/meetings.
• Organize and lead relevant recurring calls/meetings with development team, consultants and Ownership.
• Ensure that the project is in compliance with all relevant project documents including Joint Venture Agreements and Development Management Services Agreements.
• Manage both outside and in-house legal counsel as necessary regarding all Project legal issues.

• Bachelor's degree required.
• 2 - 5 years of experience working in a real estate development environment, preferably a developer, investor, or asset manager with an emphasis on multi-family. Condominium experience is preferred but not required.

•  Experience and knowledge of large-scale commercial development including:

  • Underwriting & Financial pro forma development.
  • Consultant selection and coordination.
  • Understanding of, and ability to coordinate with, various community stakeholders.
  • Ability to achieve the highest quality results in all Project aspects.
  • Ability to lead decision-making processes related to Project visioning, execution, and financial analysis.
• Strong organizational, written and oral communication skills.
• Project management, design, and/or development management experience and skills involving development projects of significant size, complexity, and of institutional quality.
• Ability to function independently and work collaboratively with other members of the development team as necessary.
• Ability to exercise good judgment and interface with all types of people diplomatically and tactfully.
• Energetic self-starter with strong work ethic and highest level of integrity.
• Ability to develop accurate and effective budget projections.
• Ability to prioritize and handle multiple tasks while meeting established deadlines.
• Excellent written and oral communication capabilities which demonstrate appropriate interpersonal and team-building skills in interfacing with internal and external client, consultant and public/private relationships and residents.
• General familiarity of the full cycle of horizontal and vertical development process, including entitlements, design, marketing, financing, construction, marketing & branding, and leasing matters for project of institutional size and quality.
• Proficiency with Microsoft Word, Excel, Outlook, and PowerPoint, and Smartsheet.
• Must possess financial analysis skills, be proficient with budgeting, real estate financial modeling, scheduling, and have effective negotiating skills.
• Proven success and passion for building and sustaining strong relationships with team members, partners, consultants, community stakeholders and governmental authorities.
• Effective communication skills, both written and oral.

Compensation: $125,000 - $175,000 annually, plus eligibility for annual bonus. We offer a competitive benefits package for full-time, regular team members, which includes group medical, dental, vision, life, and disability benefits, as well as critical illness and accident insurance. Additionally, we offer participation in pre-tax flexible benefits plans that include healthcare and dependent care reimbursement, as well as an employee assistance program. We also offer paid vacation, paid sick time, paid holidays, and are proud to provide participation in a 401(k) plan with a company match.