Real Estate Development Associate

Company Profile

Our Client is an industry leader in creating transformative developments that shape communities, promote sustainability in the built environment, and provide long-term value for the people they impact. Their portfolio includes over $3 billion in real estate development, delivering more than 10,000 housing units, 1.5 million square feet of commercial property, and 700 acres of developed land.

Position Overview

The Development Associate will report to the Director of Affordable Housing and play a lead role in the execution of affordable focused multifamily developments across the full real estate development lifecycle. This role requires direct experience managing transactions from site control through stabilization.

The Associate will be responsible for underwriting, application preparation, financial closing coordination, consultant management, construction oversight, and permanent conversion for affordable multifamily projects. Strong familiarity with state Qualified Allocation Plans (QAPs), investor and lender requirements, and public financing sources a plus.

Specific Duties and Responsibilities

• Lead and execute LIHTC applications, including financial modeling, narrative preparation, scoring strategy, and coordination with consultants.
• Manage the development process from site acquisition through lease-up and stabilization.
• Coordinate and close equity, construction debt, permanent financing, soft funds, and bond issuances (as applicable).
• Prepare and maintain detailed development budgets, sources and uses statements, and multi-year operating pro formas.
• Oversee due diligence including zoning analysis, environmental review, title and survey review, and utility coordination.
• Manage architect, engineer, legal, cost consultant, and other third-party consultants through design and permitting phases.
• Represent ownership in construction meetings; monitor schedule, budget, change orders, and draw process.
• Coordinate with state housing finance agencies and ensure compliance with QAP requirements and regulatory agreements.
• Lead preparation and submission of funding applications, including local, state, and federal gap financing.
• Support investor reporting, cost certification, and placed-in-service documentation.
• Represent the company at public hearings, neighborhood meetings, and governmental proceedings.
• Facilitate project turnover to asset management and property management teams.

Qualifications

• Bachelor’s degree in finance, real estate, urban planning, engineering, construction management, or related field.
• Minimum three (3) years of direct development experience, including full-cycle execution of at least one completed transaction - LIHTC experience a plus.
• Exposure to 9% and/or 4% LIHTC structures, bond financing, and layered capital stacks a plus.
• Strong financial modeling and underwriting skills.
• Working knowledge of construction budgeting, scheduling, and cost control.
• Familiarity with state housing agency processes and regulatory compliance requirements.
• Ability to manage multiple projects and stakeholders simultaneously.
• Advanced proficiency in Excel and MS Office Suite.