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Real Estate Development Associate

Company: Enterprise Community Partners
Location: Silver Spring
Posted on: November 24, 2022

Job Description:

Enterprise is a national nonprofit that exists to make a good home possible for the millions of families without one. We support community development organizations on the ground, aggregate and invest capital for impact, advance housing policy at every level of government, and build and manage communities ourselves. Since 1982, we have invested $54 billion and created 873,000 homes across all 50 states - all to make home and community places of pride, power and belonging.Join us at enterprisecommunity.org.Working at EnterpriseAt Enterprise, you'll be part of a diverse, committed team making a difference every day. You will collaborate with some of the smartest minds and biggest hearts in our field. You'll be empowered to drive systems change and take bold steps to advance racial equity. And you will find a career home where you're valued and supported in your growth journey.Enterprise offers career opportunities in our offices across the country with anexceptional benefits package.Job Description SummaryThe ECD Development Department specializes in acquiring, rehabilitating, and developing multi-family housing with the goal of developing and preserving sustainable affordable housing. The properties owned and operated by ECD have robust resident services to assist residents in achieving their life goals.

Working with two or more Development or Senior Managers. Each is responsible for three to six developments in various stages. The Associate will support these team members, taking direction from them and assisting them throughout all phases of development including planning, resident engagement, design, entitlements, financing and closing to achieve successful completion, lease-up and close-out. Other responsibilities will include preparing responses to requests for proposals (RFPs), bids and other solicitations, and reporting. The Associate is expected to work effectively with internal and third-party members of a development team including architects and engineers, attorneys, construction managers, property managers and leasing agents.Job Description

  • Conduct research and market analysis related to new business opportunities, acquisitions, and development.
  • Prepare pro forma financial analysis of properties for development or acquisition/redevelopment as applicable.
  • Prepare pro forma development budgets and property operating budgets under the direction of a Development Manager.
  • Refine and update financial models throughout the development process.
  • Prepare proposal materials for responses to RFPs and solicitations for bids.
  • Solicit consulting proposals for due diligence services and summarize/ evaluate the responses.
  • Attend site visits to properties being considered for acquisition. Assist the Development Manager with due diligence including preparing comparable property reports, rent roll and resident file analysis and review of third-party due diligence reports.
  • Assist and coordinate other Enterprise Community Development functions including design/construction management, property management and resident services throughout the development and construction process.
  • Assist with the preparation of debt and equity financing applications.
  • Support the team in closing on debt and equity financing. Assist with the collection and distribution of construction and financing documents, and due diligence documents required by lenders and investors in connection with refinancing and/or financial closing. Manage the closing checklist(s).
  • Attend construction progress meeting.
  • Analyze progress against development schedules and update schedules as needed.
  • Prepare internal and external development reports.
  • Support community development planning efforts working closely with the team, community residents and partners.
  • Prepare presentations for meetings with residents, other critical stakeholders, and government officials.
  • Assist in obtaining building permits and other public approvals.
  • Maintain a working knowledge of financing sources commonly used for affordable and workforce housing developments as well as the general state of the capital markets.
  • Assist development and senior staff with special projects.
  • Perform other duties as assigned.Minimum Qualifications:
    • Bachelor's degree in Real Estate, Business, Finance, or related field; master's degree preferred or any combination of education and experience.
    • Three to five years of related work experience.
    • Proficient computer skills in MS Word and Excel including experience with financial analysis using Excel or similar spreadsheet program is required. Experience with GIS software and PowerPoint are each a plus.
    • Strong communication skills with ability to clearly express ideas, thoughts, and concepts verbally and in writing. Excellent grammar, editing and proofreading skills.
    • Experience conducting research and analysis.
    • High degree of initiative with ability to seek out relevant information. Ability to work proactively, solve problems, and take responsibility for moving tasks forward.
    • Strong organizational skills and ability to coordinate and prioritize tasks and meet deadlines.
    • Ability to work some evening and weekend hours as needed.
    • Ability to work in a hybrid environment.

Keywords: Enterprise Community Partners, Silver Spring , Real Estate Development Associate, Accounting, Auditing , Silver Spring, Maryland

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