Development Associate (Dallas, TX & San Diego, CA)

Overview

Supports multifamily development from planning & acquisition through financing & asset management.

Key Responsibilities

• underwriting
• due diligence
• closing
• entitlement
• financial modeling
• reporting

Tasks

-Prepare closing exhibits. -Perform zoning and code analysis to assess regulatory fit. -Supporting the management of project budgets and construction finance close-outs. -Monitor project underwriting compliance to ensure adherence to established standards. -Manage due diligence for land and development projects. -Oversee post-closing services. -Prepare board packages for land and overall project approvals and conduct board reviews. -Source land opportunities and track systematically. -Develop asset management business plans. -Manage entitlement projects, including mapping, hearings, and CEQA compliance as required. -Secure easements as required. -Facilitate closing calls for land and development projects. -Secure zoning and entitlement approvals. -Evaluate and respond to PCO requests and RFIs requiring owner input. -Review and approve unit/amenity finishes and community programming. -Apply the rule-of-thumb analysis for quick viability checks. -Coordinate proposals for internal committee reviews. -Handle capital documents for land and development projects. -Prepare closing statements and loans for land and development projects. -Build and maintain broker relations. -Market & submarket fundamentals research, including touring comparables, monitoring demographic trends, & evaluating data from various third-party sources. -Prepare presentation packages for committee presentations. -Conduct sale and refinance analysis to evaluate exit strategies. -Perform initial underwriting for new deals -Provide feedback to refine strategy and underwriting processes based on performance data. -Define underwriting standards and ensure compliance across all projects. -Establish community programming to support entitlements. -Generate quarterly investment reporting. -Oversight of LIHTC inspection and compliance requirements. -Oversee property build processes, including monthly funding requests and AHJ compliance requirements. -Track and report on project and investment performance. -Perform reforecast modeling to update projections. -Manage due diligence for land and deals. -Administer hard cost questionnaires for cost estimation. -Supporting the Investment Ownership team with investor communications, including site tours and quarterly updates. -Screen land at a micro level, focusing on site-specific factors. -Review & reporting for project-level monthly financials. -Oversee lease-up and leasing operations, including rent strategy and approvals. -Run capital scenarios to optimize financing. -Develop and analyze project and investment KPIs and benchmarks for performance evaluation. -Conduct site searches and review land deals for initial feasibility. -Analyze rents and comparables for market positioning. -Submit applications for bonds and tax credits. -Screen land at a macro level, including sub-market analysis and ranking. -Ensure business plan alignment with acquisition targets. -Conduct entitlement feasibility analysis. -Incorporate market-based inputs and projections into planning and underwriting. -Finalize underwriting models for deal closing -Provide underwriting deal updates to keep stakeholders informed. -Support for retail space leasing & tenant build-out when applicable.

Requirements

• 2+ years
• real estate
• bachelor's
• multifamily
• entitlements
• negotiation

What You Bring

-Minimum of 2 years’ experience in Real Estate development, including significant multifamily development experience. -A Bachelor’s Degree in Business, Finance, Urban Planning, Accounting, Real Estate, Engineering, Math, or a related field is required. Graduate degree and/or relevant professional certifications encouraged. -Demonstrated experience in entitlements, executing development opportunities, working with capital partners, market analytics, asset management, property operations, and strong negotiation skills. -Support for refinance analysis, due diligence, & closings

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Benefits

-Health Savings Account -Comprehensive training and development -Associate Referral Bonuses -Dallas Business Journal Best Places to Work – 2023 -Tuition Assistance -11 Holidays and 8 Early Release Days -Medical, Dental, Vision, and Life Insurance -Phone Reimbursement -401(k) with Company Match (Up to 5% Match) -Flexible Spending Accounts (Dependent & Medical Reimbursement) -Paid Parental Leave -4 Weeks PTO for All New Associates (Pro-Rated by Hire Date) -Close capital arrangements, including public/private partnerships and site tours. -Land Acquisition and Entitlement -Competitive Bonus Program -Paid Volunteer Time

About Jpi

-Became a national force in multifamily real estate after growing from a regional developer. -Headquartered in Irving, Texas, and was acquired by Sumitomo Forestry America in December 2023. -Executes Class A projects that include garden‑style, wrap‑podium, high‑rise, senior and student living. -Provides end‑to‑end services such as development, construction, asset management, and investment capital management. -Focuses on key Sunbelt markets—Texas, Arizona, California, Florida—and select northeast metros. -Develops luxury multifamily communities, mixed‑use towers, and senior‑living sites.

Sector Specialisms