Capital Improvement Manager

Location: Portfolio-Wide | Remote/Field with Travel Required | Atlanta, Charlotte, Dallas/Fort Worth, Denver, Orlando, or Salt Lake City preferred

Reports To: VP of Facilities Management

About Cottonwood Residential

Cottonwood Residential is a forward-thinking, fully integrated real estate company focused on the multifamily sector. We combine deep expertise in asset and property management with a commitment to operational excellence across a growing national portfolio. We don’t just manage communities — we elevate them.

About the Role

The Capital Improvement Manager is a critical role responsible for planning, managing, and delivering major capital projects across Cottonwood Residential’s entire multifamily portfolio. Reporting directly to the VP of Facilities Management, this individual serves as the central coordinator between Regional Service Managers, Regional Managers, vendors, and contractors — ensuring that capital projects are executed on schedule, within budget, and to the highest quality standards.

This role demands a hands-on leader who thrives in a fast-paced environment, brings financial discipline to every project, and has the organizational skills to manage complex multi-site capital programs from initial scope through final payment and closeout.

Key Responsibilities

Project Planning & Coordination

• Manage all major capital improvement projects across the full Cottonwood Residential portfolio from initiation through final closeout
• Collaborate closely with Regional Service Managers and Regional Managers to schedule projects and align timelines with site operations
• Lead and facilitate pre-construction meetings with vendors and contractors, ensuring all stakeholders are informed and aligned before work begins
• Develop and maintain project schedules, coordinating across multiple properties and regions simultaneously
• Provide regular status updates to the VP of Facilities Management, Regional teams, and other stakeholders throughout each project lifecycle
• Conduct final inspections to confirm work is complete, meets quality standards, and satisfies all contract requirements

Budget & Financial Management

• Manage capital projects to approved budgets and proactively identify opportunities for cost savings without compromising quality
• Prepare, review, and manage project budgets, including CAPEX tracking and cost-to-complete forecasting
• Review, negotiate, and execute contracts with vendors and contractors in accordance with company policies
• Issue and manage purchase orders for all capital projects; track PO status from issuance through payment
• Process and verify invoices, ensuring payments align with project milestones, completed scope, and contract terms
• Collect lien waivers (conditional and unconditional) from all contractors and subcontractors prior to and following final payment
• Identify and flag budget variances early, presenting solutions and change order recommendations as needed

Vendor & Contract Management

• Source, evaluate, and select qualified vendors and contractors for capital improvement scopes
• Build and maintain strong working relationships with vendors, subcontractors, and industry partners
• Ensure all contractors carry appropriate insurance and licensing and comply with Cottonwood Residential’s vendor requirements
• Hold vendors accountable to scope, schedule, and quality standards throughout each engagement

Documentation & Compliance

• Maintain complete and accurate project documentation, including contracts, change orders, schedules, POs, invoices, inspection records, and lien waivers
• Ensure all capital projects comply with local building codes, permit requirements, OSHA standards, and company safety policies
• Manage permit applications and ensure all required inspections and approvals are obtained
• Conduct and document final inspections confirming punch list completion and contract fulfillment prior to final payment

What You Bring

• 5+ years of experience managing capital improvement, construction, or facilities projects — multifamily experience strongly preferred
• Proven ability to manage multiple concurrent projects across geographically dispersed sites
• Strong financial acumen with experience managing project budgets, CAPEX reporting, purchase orders, and contract compliance
• Experience with full contract lifecycle management, including drafting, negotiating, executing, and closing out contracts
• Thorough understanding of lien waiver processes, final payment procedures, and project closeout documentation
• Excellent communication and interpersonal skills; ability to build relationships with Regional Managers, Regional Service Managers, vendors, and contractors
• Highly organized with exceptional attention to detail and strong time management skills
• Proficient in Microsoft Office Suite (Word, Excel, Outlook); experience with property management or project management software is a plus
• Ability to read and interpret construction plans, specifications, and contracts
• Willingness to travel to properties across the portfolio as required

Why Cottonwood Residential?

We don’t just manage properties — we elevate them. At Cottonwood Residential, you’ll join a culture that values innovation, collaboration, and operational excellence. You’ll work alongside a talented team of regional and corporate leaders who are invested in delivering exceptional results across a growing portfolio. We offer a competitive compensation and benefits package and are committed to supporting your professional growth.

Cottonwood Residential is an equal opportunity employer.

Cottonwood Residential has changed the industry by being one of the first apartment management companies to offer Self-Guided Tours which has redefined the customer experience. We will lean on your innovation, desire to learn, and ability to work hard to continue to improve the customer experience at our communities. Get excited to create an unforgettable experience for those who enter our doors because we can’t wait to see you welcome customers to their Home at Last!