DUTIES & RESPONSIBILITIES:
The Development Associate will report to the Senior Director of Development and will require close interaction with senior management and collaboration with members of Portfolio and Asset Management, Property Management, Leasing, Acquisitions and Due Diligence departments, as needed. Primary responsibilities are described below. Individuals are expected to be self-starters, with 2-4 years prior real estate experience, and are expected to be able to perform some tasks with limited oversight.
Provide overall support to the Senior Director of Development in order to manage the broad aspects of project development, including feasibility, acquisitions, finance, design, construction, zoning/land use and leasing including:
Select, manage, and oversee Architecture and Consultant teams on various predevelopment, development and construction projects. C
Negotiate professional service agreements with Consultants and AIA contracts with architects and general contractors.
Work with public officials, their staff and the community to obtain zoning approvals, permits and entitlements required to design, develop and construct projects.
Perform analyses to support concept development and feasibility of significant value-add projects for existing assets.
Ensure smooth integration and on-time, on-budget delivery of projects.
Prepare monthly project draw funding, job close-outs, development cost tracking, and account reconciliations.
Create and maintain comprehensive project budgets, cash flow projections, and project schedules in conjunction with project team and track ongoing project financial performance. Assist in the evaluation and underwriting of complex “value-add” development scenarios.
Compile, review, and interpret applicable market data that is relevant to and supports our development program.
Prepare internal updates on development activities (as may be required) for reporting purposes.
Prepare, coordinate and track payment of invoices with accounting department as well as outside vendors and joint venture partners.
2-4 years of relevant real estate development experience.
An understanding of the primary aspects of commercial real estate is required.
Experience with the entitlement process and zoning related matters.
Experience with ground up multi-family design or construction.
Strong knowledge of project budgeting and ability to create Excel models and perform detailed financial analysis.
High degree of proficiency with pro forma and cash flow analysis.
Detail oriented, well-organized, high-energy, positive attitude. Excellent analytical and creative problem solver.Strong collaborative team player.
Possess excellent oral, written and organizational skills.
Must be highly motivated, efficient and willing to work hard to meet deadlines with a high level of accuracy.