The Senior Development Associate will be responsible for supporting the affordable housing development team in all aspects of their projects including entitlements, design, financial analysis and modeling, deal memo preparation, equity and debt sourcing, due diligence, legal oversight, budgeting, construction. This position is a key support position that will provide the candidate significant professional growth and exposure to all aspects of affordable housing development. This position will be... more details
Responsibilities The Senior Development Associate will be responsible for supporting the affordable housing development team in all aspects of their projects including entitlements, design, financial analysis and modeling, deal memo preparation, equity and debt sourcing, due diligence, legal oversight, budgeting, construction. This position is a key support position that will provide the candidate significant professional growth and exposure to all aspects of affordable housing development. This position will be based in Irvine/Los Angeles, California. Responsibilities Assist with all aspects of a development: financing, entitlement / government approvals, consultant coordination, public relations, design, leasing / marketing, and construction oversight. Perform financial analysis and due diligence for new development opportunities, assisting in underwriting and cash flow analysis, and responding to Requests for Qualifications or Proposals. Assist in preparing business plans, including deal memorandums, annual operating plans, financial forecasts and strategic plans. Compile detailed financing applications for various municipal funding programs such as low income housing tax credits and tax exempt bonds. Assist in coordinating loan draws, forecasting project budgets and cash flows, and managing project deliverables. Research and analyses: benchmark economic activity in target markets by tracking rents, sales per square foot, operating costs, competitive supply and economic expansion activity. Minimize exposure and risk on various projects. Effectively communicate relevant project information to senior project team members. Travel to and participate in external project-related meetings, as needed. Compensation $95,000 - $125,000 / year Annual performance based bonus Qualifications Experience in affordable housing is preferred. Minimum Bachelor’s Degree; Master’s Degree; preferably in real estate, business administration, public policy and planning. 2 to 6 years of relevant experience Strong quantitative and MS Excel, Word, PowerPoint, Project skills are a prerequisite. Experience in Adobe Suite a plus. Strong project management skills, results-driven, with ability to manage multiple deadlines. Complex thinker of high intelligence and demonstrates strong intellectual curiosity. Experience, knowledge, and understanding of real estate development a plus. Keen attention to detail. High energy; possessed with drive. Suitability to an entrepreneurial culture that places a premium on performance. Deal instinct and owner mentality. Self-motivated with strong work ethic and desire to work in a fast-paced environment. Must be a team player, but also a self-starter that can perform with limited direction. Excellent written and verbal and communication skills. Related values diversity in backgrounds and experiences. We are proud to be an equal opportunity employer and are deliberate about the team and culture we are building. We aim to ensure competitive total compensation that is commensurate with experience, workplace geography, and market standards. For information about how we use your personal information, including information submitted for career opportunities, please review our Privacy Policy at https://www.related.com/privacy-policy. #TRC #LI-JF1 Overview Formed in 1972, Related is the most prominent privately-owned real estate firm in the United States. Headquartered in New York City, the company has offices and major developments across the world. Related owns and manages a premier portfolio of assets valued at over $60 billion, including the 28-acre Hudson Yards neighborhood on Manhattan’s West Side. Related believes in investing in its talent and cultivates a positive, team-oriented environment where every voice is valued. Employees are encouraged to boldly take on new challenges, transcend the status quo, and demonstrate strong entrepreneurial spirit. In its relentless commitment to excellence, Related works to foster an innovative approach in its team members so that they can positively impact the communities in which they conduct business. Learn more about Related at www.related.com. Related Beal is a fully integrated real estate firm that operates in Boston and the surrounding region. By leveraging a national real estate platform with expertise across all asset classes, Related Beal has developed, and continues to develop, some of the most recognized buildings in the area including The Clarendon and One Back Bay, 100 Arlington, Lovejoy Wharf, Converse World Headquarters, The Beverly, Congress Square, and the Quinzani Bakery site in the South End. Related Beal is currently undertaking the transformational Channelside mixed-use development. Related Beal has also expanded its platform to include the pursuit of affordable housing opportunities. Learn more about Related Beal at www.relatedbeal.com. Firm Overview Related California, the West Coast affiliate of Related Companies, is a fully integrated real estate firm that develops multifamily residential and mixed-use properties in California. Since 1989, Related California has undertaken a range of transformational developments from best-in-class luxury high rise residential properties to the redevelopment of obsolete public housing, spanning a broad spectrum of urban infill, affordable, mixed-income and market rate multi-family developments. The company has a development portfolio of more than 19,500 residential units completed or under construction, and more than 4,200 affordable and 7,300 market rate units in pre-development. Related California has a long history of community partnership, having collaborated with more than 40 municipalities and over 30 non-profit organizations throughout California, and has successfully developed and managed a broad range of property types throughout Alameda, Contra Costa, Los Angeles, Orange, Sacramento, San Bernardino, San Diego, San Francisco, and Santa Clara counties. Related California has developed more than $9.3 billion in assets and has a track record of consistently developing communities that exceed industry benchmarks in design, construction, sustainability, and property management. For more information about Related California, visit www.relatedcalifornia.com.
