Real Estate Development Associate

Terra Group

Coconut Grove, FL

Salary Estimate: Confidential

Employment Type: Full Time

Work Place: Office

Experience Required: 1+ to 2 years

Education Required: 4 Year College

Job Description

General Responsibilities

 

  • Support the Vice President of Development with executing the company’s development project pipeline from inception to completion.
  • Responsible for, under the guidance of the VP of Development, managing phases of multiple development projects which includes, but is not limited to:
  • Coordinate consultants and internal team members to develop and collect applicable documents in conjunction with obtaining entitlements and required building permits.
  • Assist in collecting and assembling information required for underwriting proposed deals involving existing assets and potential acquisitions. Work with acquisition team to create financial models to underwrite project costs, revenues, and returns.
  • Interface with internal stakeholders to define project requirements and constraints and obtain input on design and budgets.
  • Assist in the preparation of budgets, schedules, and execution strategy for projects including entitlements, design development, and building permit approvals.
  • Identify project risks, develop risk mitigation and contingency plans, and implement action plans to reduce or eliminate project risks.
  • Manage due diligence efforts, create due diligence checklists, organize due diligence files, and ensure all due diligence is performed within allotted timeframe and per contractual requirements; Collaborate with finance team on due diligence efforts
  • Coordinate market research and comparable studies with finance, leasing, sales and marketing teams
  • Assist in the selection and management of the design team and preparation of drawings for initial budgeting and scope definition, development of site and building design detailed drawings, etc.
  • Track progress of each project against goals, objectives, approved budgets, approved timelines. Report status and variances in coordination with accounting. Create action plans and adjust as required to meet objectives, budget and schedule.
  • Develop project schedules and track against milestone dates and original dates
  • Create and maintain development schedule for deliverables required by construction and design team.
  • Internal team coordination - Operations, Marketing, Construction, Asset Management, IT, Accounting
  • Manage project proformas - budgets, schedule, timing, market assumptions, underwriting assumptions
  • Responsible for project cost management to ensure all stay within budget
  • Create pre-development budgets and project cash flows in collaboration with the finance team and construction team
  • Update monthly development reports for distribution
  • Run and oversee minutes for all consultant project meetings, including but not limited to architect/owner/contractor meetings prior to construction start; ensure clear action items are defined and followed up on after each meeting
  • Coordinate branding and marketing efforts
  • Responsible for securing permits and permit coordination
  • Works closely with legal counsel to negotiate and execute consultant agreements
  • Manage all consultant contracts for compliance with schedule of values and terms (with the exception of marketing which will be managed by the marketing department)
  • Attends work as scheduled to support the ongoing success of the company
  • Other duties, responsibilities and special projects as assigned

 

Competencies

 

  • To perform the job successfully, an individual should demonstrate the following competencies:
  • Synthesizes complex or diverse information; Collects and researches data; Uses intuition and experience to complement data; Designs workflows and procedures
  • Generates creative solutions; Translates concepts and information into images; Uses feedback to modify designs; Applies design principles; Demonstrates attention to detail
  • Develops project plans; Coordinates projects; Communicates changes and progress; Completes projects on time and budget; Manages project team activities
  • Identifies and resolves problems in a timely manner; Gathers and analyzes information skillfully; Develops alternative solutions; Works well in-group problem solving situations; Uses reason even when dealing with emotional topics
  • Assesses own strengths and weaknesses; Pursues training and development opportunities; Strives to continuously build knowledge and skills; Shares expertise with others.
  • Works within approved budget; Develops and implements cost saving measures; Contributes to profits and revenue; Conserves organizational resources
  • Responds promptly to customer needs; Responds to requests for service and assistance; Meets commitments
  • Focuses on solving conflict, not blaming; Maintains confidentiality; Listens to others without interrupting; Keeps emotions under control; Remains open to others' ideas and tries new things
  • Listens and gets clarification and probes for underlying messages; Responds well to questions; Able to read and interpret both written and oral information
  • Balances team and individual responsibilities; Exhibits objectivity and openness to others' views; Gives and welcomes feedback; Contributes to building a positive team spirit; Puts success of team above own interests
  • Looks for ways to improve and promote quality; Demonstrates accuracy and thoroughness
  • Shows respect and sensitivity for cultural differences
  • Treats people with respect; Keeps commitments; Works with integrity and ethically; Upholds organizational values
  • Follows policies and procedures; Completes administrative tasks correctly and on time; Supports organization's goals and values; Benefits organization through outside activities
  • Displays willingness to make decisions; Exhibits sound and accurate judgment; Supports and explains reasoning for decisions; Includes appropriate people in decision-making process; Makes timely decisions
  • Prioritizes tasks effectively; Uses time efficiently; Plans for additional resources; Sets goals and objectives; Organizes or schedules other people and their tasks; Develops realistic action plans
  • Approaches others in a tactful manner; Reacts well under pressure; Acts with unyielding integrity and ethics in business transactions; Treats others with respect and consideration regardless of their status or position; Follows through on commitments; Refuses to misrepresent himself or herself for personal gain
  • Demonstrates accuracy and thoroughness; Applies feedback to improve performance; Monitors own work to ensure quality. Completes work in timely manner; Strives to increase productivity
  • Adapts to changes in the work environment; Manages competing demands; Changes approach or method to best fit the situation; Able to deal with frequent change, delays, or unexpected events
  • Ensures work responsibilities are covered when absent; Arrives at meetings and appointments on time
  • Follows instructions, responds to management direction; Takes responsibility for own actions; Keeps commitments; Commits to long hours of work when necessary to reach goals; Completes tasks on time or notifies appropriate person with an alternate plan
  • Volunteers readily; Undertakes self-development activities; Seeks increased responsibilities; Takes independent actions and calculated risks; Looks for and takes advantage of opportunities; Asks for and offers help when needed
  • Meet challenges with resourcefulness; Generates suggestions for improving work; Develops innovative approaches and ideas; Presents ideas and information in a manner that attracts a positive response from colleagues
  • Ability to identify and define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables

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