Associate Developer

About the role

This position assumes exposure to and participation in all aspects of multi-faceted real estate development projects – both market-rate and affordable – from inception through construction completion and lease-up. The individual provides timely and accurate support to an in-house team of Developers, Senior Developers and Regional Vice Presidents, gains exposure to external financiers, architects, designers, engineers and contractors, and assumes most follow‑up responsibilities. Each Associate Developer simultaneously works on multiple projects in varying stages of development, requiring strong financial skills, meticulous accuracy, and effective written and oral communication.

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 large and small groups of financiers, municipalities, and community constituents to market Pennrose Properties
• Timely follow‑up of the 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 the Pennrose Properties personnel policies
• Preparing work product including components of RFP submissions, 8609 submissions, NPDS, funding applications, draw down packages and other project‑related documents with high accuracy, attention to detail, and timely delivery
• Demonstrating financial skills through the production of budgets and proformas throughout the development process
• Ensuring 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

Requirements

• BA or BS in Finance, Real Estate, Business or related field
• Master’s Degree or at least 3 years of work experience
• Valid driver’s license, insured vehicle, and ability to travel (between properties, on‑call emergencies, training, etc.)

Skills

• Solid real‑estate knowledge base
• Strong analytical ability
• Exceptional verbal and written communication skills
• Expertise in composing on‑message PowerPoint presentations
• Considerable interpersonal skills – ability to establish and maintain effective working relationships, being responsive and thoughtful
• 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, prioritizing demands, and responding with composure in a fast‑paced, high‑energy environment
• Demonstrated understanding of project proformas for both market‑rate and public housing developments
• Experience in filing applications for Low Income Housing Tax Credits, Federal Home Loan Bank Affordable Housing Program funds, and soft resources
• Proficiency in Outlook, Microsoft Office including Word and Excel
• 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

Pay

Pay range: $80,000 – $90,000 per year + bonus depending on experience.

Schedule

• Ability to work periodic flexible hours is required
• Ability to travel by plane and automobile is required
• Ability to work at property locations within or near transitional neighborhoods (with the support of PMC)
• Ability to climb stairs, take elevators, bend, squat, and reach overhead