Multifamily Development Associate
2 weeks ago
About the Role
D.R. Horton, Inc., the largest homebuilder in the U.S., is seeking a Development Associate - Multifamily to join its Operations Department. The successful candidate will be responsible for various tasks related to the direct development of assigned projects, assisting the Managing Director.
Key Responsibilities
- Source and underwrite development opportunities to identify potential projects.
- Prepare pro-formas and financial projections for potential development projects, analyzing market information, operational expense data, and estimated hard and soft costs.
- Conduct field investigations, including creating rent studies, analyzing the immediate neighborhood, and summarizing land sales and multifamily apartment sales in the area.
- Manage zoning, entitlement, and permitting activities to ensure compliance with regulations.
- Perform underwriting process, including analysis of market information, operational expense data, and estimated hard and soft costs.
- Establish project timeline and spending forecasts to ensure timely completion.
- Compile components for investment packages and present development opportunities to stakeholders.
- Coordinate with construction personnel to meet budget and timing targets.
- Work with third-party consultants on construction plans, entitlements, and financing.
- Strategize with third-party property management companies to maximize returns during lease-up.
- Support the Development team in running the disposition process, including preparing properties for sale, creating financial evaluations, selecting brokers, negotiating purchase and sale agreements, and working with buyers from due diligence to close.
- Establish and maintain communication and progress with local officials, brokers, consultants, and other stakeholders.
- Participate in decision-making processes regarding product, mix, parking, and design.
Education and/or Experience
- Bachelor's degree in Finance, Accounting, Economics, or a related field from a four-year college or university.
- Three to five years of related experience and/or training.
- Proficient in advanced Excel financial modeling.
- Proficient in Adobe.
- Ability to apply common sense understanding to carry out instructions furnished in written, oral form, or via DRH applications.
- Proficiency with MS Office and email.
- Registered planner or engineer.
- Experience with multifamily municipalities and entitlements preferred.
- Medical, Vision, and Dental.
- 401(K).
- Employee Stock Purchase Plan.
- Flex Spending Accounts.
- Life Insurance.
- Vacation, Sick, Personal Time, and Company Holidays.
D.R. Horton, Inc. is a Fortune 500 company and the largest homebuilder in the U.S. We are a publicly traded company on the New York Stock Exchange, founded in 1978. We offer an excellent benefits package and are looking for enthusiastic attitudes and team players to join our success.
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