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Development Associate

6 hours ago

Chicago, Illinois, United States The Michaels Organization Full time

The Michaels Organization is a national leader in residential real estate offering full-service capabilities in development, property management, construction, and investment. At Michaels, our teammates strive to fulfill our promise of creating communities that lift lives – ones that jumpstart housing, education, civic engagement, and neighborhood prosperity. With this passion at the forefront of our business, Michaels teammates can be proud to be a part of the extraordinary, every day.
We are seeking a highly motivated and detail-oriented Real Estate Development Associate to join our dynamic team. The successful candidate will play a key role in managing the planning, design, and construction of military housing communities on the East Coast. This is an excellent opportunity for someone with relevant experience in real estate development, project management, or a related field, who is looking to advance their career in a fast-paced and rewarding environment.

Responsibilities

  • Leadership: Collaborate with a broader team of Investment Managers, Property Managers, and Military partners to manage multiple projects that widely vary in scope.
  • Project Management: Oversee all phases of the development process for military housing communities, from initial planning and design through construction and project completion. Work on multiple construction projects concurrently, in varying geographies, all of which may be in various stages of the development process.
  • Coordination: Collaborate with architects, engineers, contractors, and other stakeholders to ensure projects are completed on time and within budget. Prepare RFP's (Request for Proposals), RFQ's (Requests for Qualifications); manage relationships to ensure quality workmanship and adherence to project specifications.
  • Budget Management: Assist in the preparation and management of project budgets, including cost estimation, financial analysis, and reporting.
  • Regulatory Compliance: Ensure all projects comply with local, state, and federal regulations and codes, including Department of Defense design directives.
  • Site Analysis: Conduct site visits and assessments to evaluate development sites and provide recommendations.
  • Stakeholder Communication: Maintain effective communication with military officials, community leaders, and other key stakeholders throughout the development process. Interact with general partners, property managers, accountants and other third parties to ensure timely reporting in compliance with project agreements, and to resolve problems that could jeopardize the long-term viability of the development.
  • Reporting: Prepare regular progress reports for the Director of Investment Management and other senior leadership. Create, generate, and maintain monthly and quarterly reports from asset database for internal and external use.
  • Market Research: Conduct market research and analysis to support the development and investment strategy. Monitor multifamily market trends, with special attention to affordable housing, student housing, and military housing to gain an understanding of trends in the multifamily industry and performance of comparable properties.
  • Risk Management: Identify potential risks and develop mitigation strategies to ensure project success.
  • Operations: Review and analyze monthly construction draw schedules, inspection reports, marketing and lease-up reports to track asset performance against original assumptions. Prepare financial analysis and projections for assets to estimate benefits, capital adjustments, and stabilization gaps.
  • Perform other duties as assigned.

Qualifications
Required Experience:
Minimum of +2 years of relevant experience in real estate development, project management, or related field is preferred.

Required Education/Training:
A bachelor's degree with proven critical thinking skills.

Required Skills And Abilities

  • Excellent communication and interpersonal skills.
  • Proficiency in Microsoft Office Suite (Excel, Word, PowerPoint) and project management software.
  • Experience in design and familiarity with working drawings and construction (preferred).
  • Experience in all areas of Real Estate Development with an emphasis on due diligence, ground- lease terms and conditions, pre-construction, land development, infrastructure (wet and dry utilities), and Types I through V construction (preferred).
  • Proactive and able to work independently as well as part of a team. Willing to take on additional task as needed.
  • Ability to travel with occasional overnight travel to locations within California and Arizona.
  • Strong analytical skills and ability to identify issues, draw logical conclusions, and interpret results for use in decision making with limited oversight.
  • Strong organizational, multi-tasking and prioritizing skills.
  • Strong working knowledge of financial modeling.
  • Possession of a valid driver's license and an acceptable driving record.

Working Conditions
Primarily an office environment. Candidate must have the ability and acumen to travel as needed – anticipated to be 50% or less (e.g., meetings with the development team members at their offices, constriction site visits, market tours, existing asset visits, business development meetings, etc.). Occasional conference attendance and home office visits (approximately 2 per year) are encouraged, but to be approved by VP Development.

Salary Range Information
The range displayed on each job posting reflects the targeted base salary for the position. Within the range, individual pay is determined by work location and additional factors, including job-related skills, experience, and relevant education or training.

Rewards & Benefits
We know Michaels' promise of lifting lives starts with our teammates, so making sure every single teammate is happy, healthy, and set up for a successful future is important to us. As part of our team, you will enjoy a competitive wage, a comprehensive benefit package which includes Medical, Dental, Vision, prescription, etc., generous paid time off, a 401 (k) plan with a company match, and so much more. We believe in education – and in taking care of our own – so as an added incentive your children will be able to apply for the Michaels Employee Scholarship Program.

  • Help make the world a better place in a team-oriented environment.
  • Grow with our organization through various professional development opportunities.
  • Collaborate and thrive in a company culture where all are welcome

Michaels teammates make a difference in the lives of residents, colleagues, and the communities where we live and work every day. To learn more about the total rewards we offer please visit our website.

Come join our team. You're going to love it here

Salary Range
150,000.00