Development Associate - Affordable

The Related Group, has enhanced skylines with iconic developments characterized by innovative design, enduring quality, and including living. From luxury high-rise condominiums to more affordable developments, the Related Group’s distinctive brand of culture, design, and lifestyle-infused properties continues to revitalize urban neighborhoods. Related offers competitive compensation, excellent benefits, and a work environment that encourages everyone to be their authentic selves. The Affordable Division, is looking for a Development Associate.  We have a self-manage do culture, therefore we expect you to work on difficult technical projects while also leveraging your existing expertise and experience to help Related extend its present practices and capabilities through business development.

The Development Associate role and responsibilities include but are not limited to the following list:

·To arrange for or conduct market studies and feasibility analysis for acquisition properties and surrounding market areas to confirm and justify the feasibility of such proposed projects.

·Review local ordinances to verify approval requirements, development restrictions and quantify all impact, permits, and other development fees.  Determine deadlines for any proposed increases to the same.  

· Understand entitlements and permitting process for assigned projects, communicate and project that process and schedule to the VP and through bi-weekly staff agendas, and ensure the project maintains proposed schedule in coordination with VP.  Communicate and/or mitigate any changes in entitlement schedule accordingly.

· Complete due diligence checklists and ensure the status of all material diligence items are documented and understood by the VP, and any open items are resolved or communicated to RD President before the due diligence period expiration.

·Facilitate and/or coordinate through consultants the preparation of applications for all required approvals.

·Assist the VP to timely procure all regulatory, investor, lender, and internal approvals required for the development of the project.

·In coordination with VP and Investments Director, prepare all proforma operating statements, construction and operating budgets, and such other financial documentation as may be necessary to support and justify the economic feasibility of such projects.  It will be Development Associate’s responsibility to maintain accuracy and update accordingly all of these statements, and to ensure coordination and communication of such updates with the VP, and board through staff meeting updates.

·In coordination with VP, Investments Director, RD President, and Capital Markets team, develop offering materials execute all necessary measures to secure equity investment and construction debt financing.  Respond to all requests for information from the same.

·In coordination with the VP, procure all necessary services of attorneys, engineers, architects, surveyors, land planners, and other professionals for the analysis, design, engineering, and construction of all assigned projects to be best-in-class and executed at budget.

·Review the progress of construction documents and identify areas inconsistent with budget assumptions and design intent. Implement in a timely fashion, all contract document modifications and permit applications for (VP approved) post groundbreaking changes to the work.  Assemble design team/consultant proposals for additional work or services.  Prepare detailed cost breakdown for VP’s presentation of upgrade request from the RD President, lender, and equity partner.

·Timely procure proposals and permits for VP approval of all Owner controlled items including, but not limited to low voltage, signage, security, FF&E, and artwork.

·Review proposed and actual construction and design change orders on other RD projects and ensure that precautions are taken to avoid them in the future.

·Maintain orderly project files keeping the same current so that the same may be reviewed by all having access to the same.

·Before GC contract negotiation work with the VP and Construction Sr VP to establish project milestone turn dates to achieve the earliest possible operating revenue ground break, and adjust the pre-opening checklist for VP review, and establish all necessary activity dates to achieve a successful building turnover and opening.

·Monitor the progress of general contractors in coordination with the Project Construction Manager (“CM”) and identify and communicate status and, in particular, areas of concern to the VP. 

·Communicate construction status in bi-weekly staff meeting agendas.  In coordination with VP and CM, monitor adherence to schedule and quality standards by the general contractor in all facets of construction.

·Visit the projects monthly or as otherwise directed by the DM and ensure that the plans are being adhered to, desired quality is being achieved and the schedule is maintained.

· Assist TRG Management in their premarketing phase and ensure that the pre-opening checklist is progressing on schedule.

· Monitor TRG lease-up and operational reporting and track the same against proforma and report the results to the DM and record in Staff Agendas.

· In coordination with TRGM and VP, ensure the property is maintained to RD standards at all times; review TRGM operational budgets and coordinate with on-site management and Regional Managers as needed to ensure successful operation of the property.

· Support the DM in the asset management responsibilities and prepare certifications and documentation for ultimate sale.

· Coordinate and cooperate with other employees of RD and its subsidiaries or affiliates, as may be required in the evaluation analysis, acquisition, sale, development, construction, financing, management, or operation of such projects or properties, or in the raising of equity capital for such projects or properties, as RD may desire or direct.

·Such other duties may be necessary and appropriate to advance the interests of RD, and its subsidiaries or affiliates.

Education and Qualifications:

• 3 years of Real Estate Finance experience preferred.
• Bachelor’s degree in Real Estate Development, Construction, Engineering or related field
• A Master’s degree in Real Estate Development will be a plus.
• Architectural Background preferred  

Benefits as a Related Employee:

• Base Salary + Performance Bonus.
• Medical, dental, vision, legal services, flexible spending account.
•  Employer Match Commuter Benefits.
• The benefits package includes 100 percent employer-paid life and disability insurance.
• Employer Matching 401k.
• Upward Mobility
• Employee Engagement and Wellness programs.
• Company-paid Vacation, Sick, Personal, and Holiday Time.
• Opportunities for Professional Development and Tuition Reimbursement.

The Related Group is proud to be an Equal Opportunity Employer.

We are a Drug-Free Workplace.