Real Estate Development Associate
Company: Enterprise Community Partners
Location: Silver Spring
Posted on: November 24, 2022
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
- 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
- Assist and coordinate other Enterprise Community Development
functions including design/construction management, property
management and resident services throughout the development and
- Assist with the preparation of debt and equity financing
- 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
- 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
- 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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