USAA Real Estate

Director, Multifamily Development

Job Location US-TX-San Antonio
# of Openings

Company Overview

Along with its affiliate companies, USAA Real Estate invests across the risk spectrum for a global client base, managing over $36 billion in net assets under management within a diversified portfolio across North America and Europe.  USAA Real Estate provides strategic equity and debt capital, including to capitalize on the accelerating demand for technology-driven real estate assets, to meet the critical need for housing solutions, and for other market and capital structure opportunities exhibiting compelling risk-return characteristics.  For more information, visit


USAA Real Estate is the brand name that applies to its affiliates and subsidiaries, including US Equity Advisors and Square Mile Capital Management, both of which are registered with the U.S. Securities and Exchange Commission as investment advisors.

Job Description

Purpose of Job: 

An opportunity for an experienced team player to join a high-performance team and provide support on executing new and existing multifamily and senior housing ground up development projects in a significant and growing national housing development portfolio. The Director will interface with various internal and external parties and direct the sourcing, coordination, implementation, and oversight of construction management services in support of the successful execution of development plans for housing development opportunities for USAA Real Estate and its investment partners. Relocation support is available for this position.

Essential Duties:

  1. Perform and/or oversee construction management duties (e.g. due diligence, planning, permitting, contract administration, budget and schedule development, periodic reporting, managing change orders, project close-out, etc.) in support of USAA Real Estate development projects.  Actively participate in construction planning sessions, to include design meetings as well as general contractor selection.  Review and oversee construction draws and cost submittals.  Make recommendations for realigning project budgets and contingencies based on project scope changes, actual costs, and unplanned events.
  2. Assist in the marketing, identification, development, and implementation of development engagements in coordination with USAA Real Estate and/or its partners, to include assisting as requested in the implementation of comprehensive development business plans.
  3. Assist with the preparation of investment proposals, underwriting, and due diligence memos to ensure alignment with USAA Real Estate investment objectives and target rates of return.
  4. Develop and enhance relationships with development partners, and related construction service providers.
  5. Manage and/or oversee multiple development projects simultaneously, while ensuring new budget requests are met, new projects are started on time and completed projects are properly closed out, on time and on budget.
  6. Assess challenges, gather information, research, and initiate innovative solutions to streamline owner’s development management platform to drive industry-leading processes and techniques. 
  7. Manage and oversee all design and construction related legal documentation related to the execution of the project, including, but not limited to, the following agreements: General Contractor Construction Contract, Architect/Design Professional Contracts, Civil Engineer, Geotechnical Engineer, and all other consulting services agreements related to the project (roof consultant, concrete consultant, materials testing, etc.).
  8. Utilize the USAA Real Estate standard construction specifications and ensure the developers and contractors are building within the specifications outlined. Continue to modify and refine the standard specifications based on changes in construction techniques and/or building materials and practices.
  9. Monitor development execution and provide oversight of the project activities throughout the various phases of development, construction and project close out.
  10. Maintain ongoing knowledge of projects and elevate any potential issues to the housing development team and track solution implementation in accordance with management’s directions.
  11. Performs other duties as assigned.

At USAA Real Estate our employees enjoy generous benefits packages including comprehensive medical, dental and vision plans, 401k, educational and professional designation assistance, business casual dress attire and much more! Qualified applicants must successfully complete a pre-employment background and drug screen.  The above description reflects the details considered necessary to describe the principal functions of the job and should not be construed as a detailed description of all the work requirements that may be performed in the job.


USAA Real Estate Company is an Equal Opportunity and Affirmative Action Employer of Females, Minorities, Veterans and Disabled.


  • Bachelor’s Degree in Construction, Architecture, Real Estate Development, Finance or related field.
  • 7+ years of progressive experience in commercial real estate development, with at least 5 years in multifamily or senior housing development execution.
  • Strong knowledge of construction methods and materials.
  • Advanced proficiency in MS Excel and Word.
  • Willing to travel.
  • Must be willing to work on-site and show proof of COVID-19 vaccination (or request and receive an authorized exemption).
  • Qualifications may warrant placement in a different job level.

Key Competencies:

  • Attention to details and ability to execute with minimal supervision.
  • The ideal candidate will be a team player with proven leadership skills, problem solving skills, and ability to manage multiple projects and priorities simultaneously in a collaborative and respectful fashion.
  • Exceptional written and verbal communication skills. 


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