The Development Associate will be responsible for supporting the affordable housing development team in all aspects of project development including: entitlements, design, financial analysis and modeling, deal memo preparation, due diligence, legal oversight, budgeting, and 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, California.

Firm Overview 

Our Client is a full-service real estate firm that has developed over 18,000 units of quality affordable and market-rate multifamily and mixed-use residential properties in California since its inception in 1989. Our Client California’s developments range from urban infill, affordable, mixed-income and market rate multifamily developments, and are designed, built and managed to the highest standards regardless of the income level served. Our Client prides itself on its track record of consistently developing best-in-class communities that represent industry benchmarks in design, construction, sustainability and property management.

Parent Company Overview

Our Client is one of the largest and strongest privately owned real estate firms in the United States. Formed 45 years ago, Our Client is a fully integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing and sales.  The company’s existing portfolio of real estate assets owned or under development, valued at over $60 billion, is made up of best-in-class mixed-use, residential, retail, office, trade show and affordable properties in premier high barrier-to-entry markets.

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

• $85,000 – $110,000 / 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.

Contact Kipp Gillian | Gillian Executive Search | kgillian(at)gessearch.com | 866-600-0437 x 1