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

Description

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

Requirements

• 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

Benefits

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

Training + Development

Interview process

Visa Sponsorship

Security clearance