Associate Developer

This position involves exposure to and participation in all aspects of multi-faceted multi-family real estate development projects, primarily affordable with occasional market-rate projects, from inception through construction completion and lease-up.

Responsibilities

• Financial modeling to determine the economic feasibility of a project
• Drafting, editing, assembling, and finalizing—under the direction of the Team Leader—multiple professional RFPs and RFQs
• Participation in building strong public-private partnerships
• Working with municipalities to ensure good communication
• Preparation of professional PowerPoint presentations for financiers, municipalities, and community constituents
• Timely follow-up of land-development approval process
• Coordination of legal matters as directed by the Team Leader
• Working knowledge of all site-control documentation, loan agreements, equity documents, and partnership agreements
• Coordination of architectural and engineering matters under the direction of the Team Leader for proposed developments
• Creation of realistic project schedules
• Development of realistic project budgets
• Interfacing with contractors and other professionals to build proposed developments
• In-depth involvement in coordinating the lease-up of completed developments with full flow of information concerning limiting criteria
• Maintenance of calendars
• Scheduling and coordinating the logistics for all development meetings
• Complying with all provisions of Pennrose Properties’ Operations and Human Resource Policies

Performance Metrics

• Work product (including components of RFP submissions, 8609 submissions, NPDS, funding applications, draw-down packages, and other project-related documents) is prepared with a high level of accuracy, attention to detail, and delivered on a timely basis
• Demonstrated financial skills through the production of budgets and proformas throughout the development process
• Project development goals are met within established timeframes
• Organized and systematic management of project development; checklists scheduled (employing technology tools) to close within established time and budget
• Ability to manage and accomplish tasks within set delivery parameters
• Strict attention to detail and ability to thrive in minutiae

Requirements

• BA or BS in Finance, Real Estate, Business, or related field (required)
• Master’s Degree preferred or 3 years of equivalent experience performing at the Associate Developer level
• Solid real-estate knowledge base
• Strong analytical ability
• Exceptional verbal and written communication skills
• Expertise in composing on-message PowerPoint presentations
• Considerable interpersonal skills, including the ability to establish and maintain effective working relationships
• Discretion in handling confidential information
• Demonstrated organizational skills, including the ability to set priorities in concert with the development team
• Ability to work independently
• Demonstrated ability to work under pressure, exercising sound judgment and prioritizing demands in a fast-paced environment
• Demonstrated understanding of project proformas for both market-rate and public housing developments
• Experience in filing applications requesting Low Income Housing Tax Credits, Federal Home Loan Bank Affordable Housing Program funds, and soft resources
• Proficiency in Outlook, Microsoft Office (Word, Excel); Microsoft Project experience is a plus
• Demonstrated punctuality and respect for others’ time
• Accuracy—with attention to detail—and speed in task execution
• Strong work ethic and exceptionally high work standards
• Maturity, good judgment, and professionalism
• Meeting management understanding, including application of Outlook calendar programs and preparing agendas to achieve desired outcomes
• Experience with, or understanding of, Application Scoring; understanding of QAP and scoring sites is desirable
• Valid driver’s license, an insured vehicle, and the ability to travel (between properties, on-call emergencies, training, etc.)

Working Conditions

• Ability to work periodic flexible hours
• Ability to travel by plane and automobile
• Ability to work at property locations within or near transitional neighborhoods
• Ability to climb stairs, take elevators, bend, squat, and reach overhead

Pay

$75,000 - $80,000/year + bonus depending on experience