Development Manager - Chicago - CRG

Description

About Us

Clayco is a full-service, turnkey real estate development, master planning, architecture, engineering, and construction firm that safely delivers clients across North America the highest quality solutions on time, on budget, and above and beyond expectations. With $7.6 billion in revenue for 2024, Clayco specializes in the "art and science of building," providing fast track, efficient solutions for industrial, commercial, institutional, and residential related building projects.

About CRG

CRG is a privately held real estate development and investment firm with deep expertise in industrial, office, student housing, land, and data center assets. Since 1993, we've developed over 220 million square feet across 12,500 acres, representing more than $14 billion in value. The firm serves clients and investors from headquarters in Chicago and St. Louis, and regional offices in Seattle, Los Angeles, Phoenix, Philadelphia, and Atlanta. CRG manages $2.3 billion in real estate assets across institutional joint ventures and four fund vehicles with over $500 million in AUM. As part of Clayco, a nationally recognized, vertically integrated real estate and construction enterprise, CRG combines the strength and scale of an industry leader with the agility of an entrepreneurial platform.

The Role We Want You For

The Development Manager is responsible for overseeing the full lifecycle of ground-up student housing development projects, from site identification and underwriting through entitlements, design, financing, construction, and delivery. This role works cross-functionally with acquisitions, design, construction, finance, and asset management teams to execute projects that align with the company's investment strategy, brand standards, and financial objectives.

The Specifics of the Role

• Manage multiple student housing development projects simultaneously from concept through stabilization
• Coordinate due diligence activities including market studies, zoning analysis, environmental reports, and site feasibility
• Lead entitlement and approval processes with municipalities, universities, and community stakeholders
• Oversee project schedules, budgets, and critical milestones to ensure timely and cost-effective delivery
• Prepare and refine detailed development budgets, pro formas, and sensitivity analyses
• Partner with finance and capital markets teams to support debt and equity sourcing
• Monitor development costs and cash flows throughout the project lifecycle
• Manage and collaborate with architects, engineers, designers, and consultants to ensure brand consistency and market-appropriate design
• Coordinate closely with construction management teams to align design intent, budget, and constructability
• Review and approve plans, specifications, change orders, and major cost items
• Oversee interior design and FFE implementation
• Serve as a primary point of contact for joint venture partners, consultants, lenders, and public officials
• Support university outreach and public-private partnership initiatives when applicable
• Present development updates and investment materials to internal leadership and external partners
• Analyze student housing market trends, competitive properties, and enrollment data
• Assist in defining unit mix, amenity packages, and pricing strategy to maximize project performance
• Collaborate with leasing and operations teams to ensure a smooth transition from development to operations

Requirements

• Bachelor's degree in Real Estate, Finance, Business, Design, Architecture, Engineering, or a related field
• 4–8+ years of experience in real estate development, preferably with student housing or multifamily projects
• Proven experience managing ground-up development projects exceeding $50MM+ in total cost
• Strong understanding of zoning, entitlements, construction processes, and design, development and finance
• Advanced proficiency in Excel and real estate financial modeling
• Excellent project management, communication, and negotiation skills

Some Things You Should Know

• This position is based in Chicago, IL.
• We work on creative, complex, award-winning, high-profile jobs across the United States.
• The pace is fast

Why Join Clayco and CRG?

• Join a mission-driven, entrepreneurial team backed by Clayco's national platform.
• Gain visibility and impact at the highest levels of leadership.
• Be a part of landmark real estate projects across the U.S.
• Work in an innovative culture that values speed, integrity, and excellence.
• 2025 Best Places to Work – St. Louis Business Journal, Los Angeles Business Journal, and Phoenix Business Journal. 2025 ENR Midwest – Midwest Contractor (#1).
• 2025 ENR Top 100 Design-Build Firms – Design-Build Contractor (Top 5).
• 2025 ENR Top 100 Green Contractors – Green Contractor (Top 3).
• 2025 ENR Top 25 Data Center Builders – Data Center Contractor (Top 3).
• RE Journals: 2023 Developer of the Year.
• RE Journals: #1 Midwest Developer (2020 & 2021), Top 4 Midwest Developer (2022–2024).
• Industrial Influencer (2021, 2022 & 2024).
• Multifamily Influencer (2023 & 2024).
• Crain's Chicago Business, NAIOP, , Student Housing Business, , Connect CRE, RE Journals: Award-winning leadership and rising stars across multiple disciplines.

Benefits

• Discretionary Annual Bonus: Subject to company and individual performance.
• Comprehensive Benefits Package Including: Medical, dental and vision plans, 401k, generous PTO and paid company holidays, employee assistance program, flexible spending accounts, life insurance, disability coverage, learning & development programs and more

Compensation

• The salary range for this position considers a wide range of factors in making compensation decisions including but not limited to: Education, qualifications, skills, training, experience, certifications, internal equity, and location. It is not typical for an individual to be hired at or near the top of the range for the role and compensation decisions are dependent on the facts and circumstances of each case. The Clayco Nationwide salary range for this position is approximately $110,000 - $140,000 +/- annually (not adjusted for location).