Real Estate Development Associate

2 weeks ago

Silver Spring, United States Montgomery Housing Partnership Full time

MHP is seeking a **REAL ESTATE** **DEVELOPMENT ASSOCIATE **to support daily activities and ensure the proper workflow for the residential development projects administered in the company.
**Who we are**: MHP is an active and growing non-profit organization founded in 1989 that develops, acquires, rehabilitates, and builds quality apartment homes to meet the growing need for affordable housing in the Washington D.C. region. MHP's community-based projects and programs include providing affordable rents, developing educational programs for residents to develop skills that expand their opportunities and balance their lives, and implementing neighborhood revitalization efforts in neighborhoods where affordable housing is located.

The Real Estate Developer Associate (DA) assists a Project Manager (PM) or Senior Project
Manager (SPM) whose responsibility it is to ensure the long-term viability of residential developments by assisting with managing all aspects of development including assessing acquisition opportunities, structuring financing, hiring and managing consultants and advisors, managing budgets and draws, and closing out projects to turn over to the third-party property management firm and MHP’s Asset Management Department. Projects may be renovations or ground-up development. Depending on their abilities, the DA may also be responsible over time for managing a project on their own. The Developer Associate reports to the Vice President of
Real Estate or a Senior Project Manager. Depending on workload a DA may assist more than one
SPM or PM.

**Description (the DA will assist the PM or SPM in the functions below)**:

- Project Administration and Closing_: Assemble and manage the development team including design and construction consultants. Negotiate contracts and coordinate team throughout the development process. Coordinate property acquisitions and closings with funders and attorneys. Manage permitting and approval process with municipal officials, legal counsel and architects. Coordinate community and resident processes. Negotiate consultant, lender and contractor agreements. Prepare reports required for board, internal management, founders and investors.
- Project Construction, Monitoring & Closing_: Closely monitor the construction process and push projects to finish on time and within budget. Work with project team to resolve financial and other issues that arise during this period. Assure compliance with tax credit, bond and other agreements. Assist accountants in preparing cost certifications. Provide asset management team with financial closing summary and work with asset management team in addressing any tax
- related or post-closing financial or building performance concerns. Coordinate marketing and lease-up with property management to assist in ensuring that occupancy and financial goals and restrictions are met.
- Other Duties:_ Update company real estate documents periodically to make sure documents are current, and to take advantage of project learnings. Perform additional activities as assigned.

DESIRED QUALIFICATIONS:

- Demonstrated interpersonal and technical skills including:

- Highly skilled in design and use of Excel spreadsheet, word processing and presentation software.
- Strong writing and verbal communication skills.
- Critical thinking and negotiating skills.
- Good organizational and time-management skills.
- Strong ability to work in and with teams.

Education/experience requirements: Undergraduate degree with a focus in finance, public policy or affordable housing. Master’s degree in related field is preferred, but not essential.

One to two years’ work experience in residential development, either affordable or market rate housing, or a related area a plus.

The goal of the position is to gain enough experience and expertise to become a Project Manager, managing two projects concurrently after approximately two to three years.

**Job Type**:Full-time
**Compensation**:Salary will be based on relevant experience. MHP offers a competitive benefits package including medical programs, flexible spending accounts, 403(b) retirement matches, and paid time off.

Pay: From $60,000.00 per year

**Benefits**:

- 401(k)
- Flexible schedule
- Paid time off
- Professional development assistance

Schedule:

- 8 hour shift
- Choose your own hours
- Day shift
- Monday to Friday

**Experience**:

- real estate financials: 1 year (preferred)
- LIHTC: 1 year (required)
- Financial modeling: 1 year (required)

Ability to Commute:

- Silver Spring, MD 20904 (preferred)

Work Location: In person

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