Renovation Project Manager - Los Altos, CA, US

Firm Summary: · Interstate Equities Corporation (IEC) is a vertically integrated real estate investment firm specializing in value-add multifamily properties in the Bay Area, Southern California (including Ventura County, Los Angeles, and San Diego) and Seattle markets. We focus ...

Job description

Firm Summary:

Interstate Equities Corporation (IEC) is a vertically integrated real estate investment firm specializing in value-add multifamily properties in the Bay Area, Southern California (including Ventura County, Los Angeles, and San Diego) and Seattle markets. We focus on creating value through strategic repositioning and property management. IEC Property Services Corporation, our in-house property management company, strives to deliver exceptional customer service while executing property business plans. Founded in 1981, IEC has a proven track record of over 43 years and continues to grow by acquiring new communities and offering development opportunities to our team members.

Position Summary:

IEC is looking for an energetic, skilled project manager to join our team and execute exciting, transformative renovation projects at various apartment communities throughout California and Washington State.

The Renovation Project Managers are responsible for the comprehensive oversight of interior unit renovations, larger exterior value-add construction projects, and infrastructural capital projects for vintage apartment communities throughout Southern California. This position requires a thorough understanding of construction processes, strong leadership abilities, and excellent project management skills. The Project Manager ensures that all phases of these multifaceted projects are executed efficiently, within budget, and to the highest standards of quality and safety.

The role involves extensive coordination with various stakeholders, including architects, engineers, subcontractors, suppliers, tenants, and property management to deliver successful projects that meet all specifications and regulatory requirements while minimizing disruption to residents and ensuring their satisfaction. The portfolio will consist of properties located in Northern California and Seattle Washington region.

Additionally, the Project Manager will work closely with construction administrators, handle light accounting tasks, and collaborate directly with the asset manager for each property to ensure seamless project execution and alignment with investment goals.

Duties and Responsibilities:

• Project Tracking: Analytically track multiple concurrent projects against the budget
• Field Work: Spend 25-50% of the time on-site with overnight stays in Washington State.
• Scope Development: Collaborate with Asset Management to develop clear project scopes and renovation specifications, including working with interior and exterior designers to develop design concepts
• Quality Assurance and Accountability: Confirm work is being completed consistent with company quality standards, budgets, and timelines
• Vendor Management:
  • Obtain and filter vendor bids
  • Recommend and qualify contractors (references, licenses, insurance, etc.)
  • Negotiate terms (scope/cost/payment/schedule)
  • Prepare contracts
  • Research and identify new subcontractors to maintain competitive pricing
• Project Inspection:
  • Inspect projects for progress, timing of completion, costs to complete, and quality control
  • Meet with contractors to discuss scope discrepancies, change order requests, trouble spots, etc.
• Coordination Meetings: Initiate coordination/kick-off meetings with Asset Management and Property Management to establish staging details, sequence, schedule, scope, resident correspondence, etc.
• Regulatory Compliance: Manage enforcing agencies and meet with city inspectors/representatives as necessary to coordinate project efforts
• Record Keeping: Maintain organized records of project bid costs using corporate tracking tools. Notify Asset Management of upcoming capital needs and timing
• Communication: Provide regular updates to community associates and Asset Management
• Minutes and Notetaking: Document meeting minutes and distribute them to relevant stakeholders
• Reporting: Prepare detailed reports and updates for management, summarizing project status, issues, and progress
• Unit Evaluation: Evaluate unit conditions, document non-spec items to be replaced, walk unit renovations, and complete punch-walks with contractors
• Capital Projects:
  • Assist in developing scopes of capital projects and budgets for new acquisitions at the direction of the Acquisition team
  • Include immediate repair/deferred maintenance items, value-add renovations, and reserve items/on-going repairs over the investment hold period
  • Annually prepare 2-3 year capex projections 
• Minimize Downtime: Schedule and supervise to minimize unit interior downtime during renovations
• Additional Duties: Perform other duties as assigned

Qualifications:

• Bachelor's degree preferred but not required
• Strong Microsoft Office skills
• 10 years of project management experience (renovation/real estate projects preferred)
• Prior experience completing tenant improvements and/or capital improvement projects (preferred)
• Strong communication ability, both verbally and in writing. Ability to write reports, business correspondence, and procedures. Ability to effectively present information and respond to questions from supervisors, peers, vendors, and government agencies.
• Open to travel locally and regionally
• Valid driver's license

Compensation:

• Salary Range $140,000 - $170,000 depending on experience
• Annual Discretionary Performance Bonus

IEC offers a competitive compensation package including:

• Company paid healthcare premiums at 100%, specifically for the employee, with options to buy up
• 401(k) Plan, with 4% company match
• Flexible Spending/Health Savings Accounts
• Company paid Life Insurance and Long-Term Disability Insurance, specifically for the employee, with options to buy up
• Paid Time Off
• Company Paid Holidays
• Employee Assistance Plan
• Employee Discounts
• Commuter Benefit