HELP WANTED: Development Associate

OVERVIEW:

The Development Associate will report directly to the Vice President of Development and
support the Development Team with managing multiple phases of the real estate development
process (e.g., site selection, due diligence, financial analysis, budgeting, contract negotiation,
site acquisition, investment package creation, and permit processing) for affordable and market
rate apartments, self-storage facilities, and other real estate opportunities. The Development
Associate should be prepared to actively support the Development Team on current and
pipeline development deals in a substantial way that positively impact projects. Benefits include
employee health insurance, life insurance, 401(k) with match, and paid time off.


QUALIFICATIONS:

  •  Bachelor’s degree in Business Administration, Finance, or Real Estate preferred
  •  Graduate degree in Business Administration, Law, Finance or Real Estate preferred
  •  Excellent interpersonal, written, and verbal communication skills
  •  Knowledge of Low income Housing Tax Credits preferred
  •  Accurate, detail oriented, dependable, and punctual
  •  Ability to deal with difficult, sensitive, and confidential issues
  •  Ability and willingness to travel

EXPERIENCE:

  •  2+ years’ experience in multifamily development strongly preferred
  •  Experience in tax credit multifamily housing is preferred

RESPONSIBILITIES:

  •  Perform market research, demographic studies, apartment database reviews, and competitive analysis
  •  Perform site selection for apartments, self-storage, and other development opportunities.
  •  Compare and contrast the Qualified Allocation Plans of various states
  •  Coordinate and participate in multifunctional teams to analyze existing market conditions, unit mix, property and unit amenities and features, rental rates, and operational expenses at given properties
  •  Develop a matrix of key competitors including property locations, specific amenities, and pricing in strategic markets and submarkets
  •  Participate in the preparation of pre-development budgets and schedules for proposed projects from the initial phases including land contract negotiation, entitlements, and building permit approvals to the commencement of construction
  •  Research all relevant financial assumptions for underwriting including items such as all permitting fees, impact fees, taxes, etc.
  •  Creation of financial models
  •  Perform due diligence for partners and lenders
  •  Participate in the preparation of LIHTC and other funding applications
  •  Assist the Development Team in preparing and presenting investment packages
  •  Participate in consultant meetings through pre-development and development stages
  •  Participate in meetings with municipalities, neighborhood groups, design teams, and public hearings throughout the entitlement process
  •  Assist in managing projects under construction to ensure adherence to development policies and procedures
  •  Assist in the transition of the projects from development to construction and construction to management
  •  Other duties as assigned

 

All responses and resumes should be directed to Jenny Banks, jbanks@realamericallc.com
 

Posted in: LIHTC