The Development Associate is involved in all aspects of the development of new multi-family rental projects throughout California. The Development Associate, while reporting to the SVP of Development, is expected to operate with a high level of independence throughout a project’s execution and is responsible and accountable for bottom line results.
Under the guidance of the SVP of Development, the Development Associate is responsible for managing all phases of multiple development projects which includes, but is not limited to:
- Market analyses, including geographical and financial feasibility of real estate markets
- Site identification and underwriting, including financial modeling and risk/reward pro forma analyses of new development opportunities
- Site specific due diligence, including, but not limited to contract negotiations, entitlement risk, environmental and geotechnical risk, soft cost and impact fee budgeting, product design and construction budgeting
- Perform, coordinate and / or lead pre-development work such as preliminary architectural and engineering issues, zoning issues, local government and community support
- Build, coordinate and lead internal team members and external consultants through conceptual design and entitlements leading to construction documents and project monitoring.
- Prepare and submit financing packages including: construction and permanent financing, and equity syndication or other appropriate funding sources
- Coordinate with other Carmel departments including Construction, Finance and Residential Services in order to successfully deliver projects
The ideal candidate is a self-starter with excellent written, verbal and analytical skills. The successful candidate must have a working knowledge of multi-family real estate development with a focus on development, finance and construction. Candidates must demonstrate the ability to lead and motivate others through influence and working with strong personalities. Being able to work independently, entertain numerous projects at once, and remain organized are also key attributes.
- Graduate degree in Business Administration, Finance or Real Estate. Graduate degree in Business, Finance or Real Estate highly preferred.
- 3-5 years experience in the multi-family development
- Strong analytical skills and able to multi-task in a constantly changing environment
- Strong verbal, written and interpersonal communication skills
- Well-rounded functional background including finance, acquisitions, development, marketing, construction and management
- Proven negotiating and influencing skills
- Experience in and in-depth knowledge of one of the major California metro areas: Bay Area, Greater Los Angeles, Orange County or San Diego
- Skills with MS office, including Power Point, Outlook and advanced knowledge with Excel are expected.