Assist the Development Team with all aspects of real estate development including, but not limited to: deal sourcing, financing, entitlement, government approvals, consultant coordination, public relations, design, Project management, construction oversight, and leasing/marketing,
• The Development Associate should develop a knowledge of all potential development sites in the market and devise a plan for pursuing them.
• The Development Associate is responsible for quickly developing preliminary information relative to a potential site such as the quality and location, development trends in the submarket, the location of comparable apartment sites, impact fees and real estate taxes,
• Perform financial analysis and due diligence for new development opportunities, assisting in underwriting and cash flow analysis, and responding to Requests for Qualifications or Proposals.
• Research and analyses: benchmark economic activity in target markets by tracking rents, sales per square foot, operating costs, competitive supply and economic expansion activity.
• Prepare financial packages, including deal memorandums, annual operating plans, financial forecasts and strategic plans.
• Working with the Investment Deal Team(s) to review due diligence information and feasibility analysis of potential acquisitions.
• Assist in negotiating and drafting contract terms and scope with design consultants and contractors.
• Responsible for the day-to-day management of development projects including the oversight of project contractors and consultants.
• Responsible for maintaining project timeline, ensuring milestones are met on time and within budget.
• Provide reports related to project status to Senior Development Staff, Investments Deal Team and other stakeholders.
• Assist Senior Development Staff in securing the appropriate approvals, certifications, permits, etc. from city and other government agencies as required.
• Manage project documents including discretionary and non-discretionary approvals, agency releases/declarations/determinations, easements, covenants, tract maps, construction documents, A/E design and engineering plans and specifications, contracts/change orders, closeout documentation.
• Assist in coordinating loan draws, forecasting project budgets and cash flows, and managing project deliverables.
• Tracking and reporting project status to investors, lenders, and joint venture partners
• Assist with monthly construction progress reporting including but not limited to schedules, applications for payment, etc.
EDUCATION/EXPERIENCE REQUIREMENTS: (including certification, licenses, etc.)
• Bachelor’s degree in Real Estate Development, Design/Architecture, Construction or related major. Advanced Degree preferred.
• Minimum of two years' experience in real estate development and/or construction with demonstrated knowledge of real estate development and construction process including a focus in project management.
• Must have experience with financial valuations and evaluations of property.• Must show prior experience and success derived from taking initiative, managing business as a leader and understanding the quantitative side of business.
- Project Management
2+ to 5 years
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