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Development Associate

Salary
Competitive
Employment
Full Time
Work Place
Office
Real Estate Field
Location
Austin
 TX
Postal Code
78757
Country
United States

This job is no longer active.

Description


At Madhouse, our people are our greatest differentiator and competitive advantage. We are all united in delivering the best communities possible for our residents. We’re proud to be a close-knit team that values integrity, teamwork, and growth. We offer a flexible, fun, and collaborative work environment. As a member of the Real Estate team, the Development Associate will report to the Vice President of Development and Development Manager(s).

Primary Responsibilities (Include but Not Limited to)

  • Assist in locating and evaluating properties for acquisition, rehabilitation, or development of both affordable and market-rate opportunities.
  • Assist in the negotiation of land purchases including drafting Letters of Intent and Earnest Money Contracts.
  • Assist with the development of budgets and timelines for the various stages of acquisition and development.
  • Assist in coordinating with project consultants during the due diligence process including architects, engineers, appraisers, market analysts, surveyors, title companies, etc. as necessary.
  • Assist with the review of due diligence materials related to each project being developed.
  • Provide administrative support related to the preparation of housing tax credit applications, become familiar with the state's Qualified Allocation Plan and the corresponding timelines and deadlines associated with the tax credit application process.
  • Assist in the oversight of the construction process to assure that timelines are being followed; plans and specifications are being adhered to and assist with the preparation of monthly draw expenditure requests. Assist with the coordination between the contractor and the management company to ensure the orderly and efficient transfer of buildings from construction to resident status.
  • Assist in working with all necessary public officials and neighborhood groups in markets being considered for development. Assist with public presentations and prepare corresponding marketing materials.
  • Assist in responding to lenders and syndicators on project related due diligence requirements throughout the development process.
  • Assist in the preparation of development reports to provide the status of current projects to senior Madhouse staff.
  • Assist in financial underwriting for potential transactions. Perform market analysis for potential transactions.
  • Assist in ensuring that all state required reporting deadlines are met.
  • Review property management reports to ensure that assets are being run efficiently within budget and occupancy level goals.
  • Visit properties within the current portfolio to monitor physical conditions and resident satisfaction. 
  • Assist in the asset management of the portfolio.
  • Assist with the preparation of 10% tests, Carryover Allocation packages, cost certifications, 8609’s and certified audits.

Knowledge, Skills, and Abilities

  • Acts as an expert in each Texas market, with a strong knowledge of competitive communities, the development pipeline and other economic drivers that could impact performance.
  • Knowledge of public and private housing finance programs and related compliance requirements, including HUD, HOME, Section 8, IRS Section 42 and other programs.
  • Engages in frequent verbal and written communication with internal and external parties which may include, lenders or equity investors and their representatives, outside counsel, agencies, special servicers, and potential investors.
  • Working experience with Limited Partnership agreements, loan documents, regulatory agreements, service agreements, or other legal documents relating to conventional and affordable real estate transactions.
  • Ability to understand, and to seek explanation of, complex written regulations from various government agencies. 
  • Strong technical and analytical skills, as well as an understanding of accounting and financial principles.
  • Ability to work with large databases and datasets for extraction and conversion into useful business information.
  • Organizational skills with the ability to manage multiple projects simultaneously.
  • Ability to cope with deadline pressures.
  • Highly self-motivated with the ability to work effectively in a fast-paced environment.
  • Leadership and excellent verbal, written, and interpersonal communication skills are required to effectively manage complex assets and relationships.
  • Ability to write memos, reports, presentations, and business correspondence.
  • Ability to interact with all levels of management, work within a casual team environment, and work independently.
  • Strong negotiation and presentation skills.
  • General understanding of real estate practices.
  • Ability to solve unstructured problems.
  • Understands the value of team approach and effectively uses teamwork to improve results.
  • Proactive, takes initiative, thinks creatively, and drives projects to completion.

Qualifications

  • Bachelor's Degree in Business Administration, Accounting, Finance, Economics, Real Estate Development, or related field work experience required.
  • Master’s Degree from accredited four-year college or university is a plus.
  • 2-4 years of real estate development experience with a proven record managing varied project tasks.
  • Experience related to LIHTC/affordable housing is a plus.
  • Excellent working knowledge of software programs Microsoft Excel, Word, and Teams; Microsoft Access and Project skills is a plus.

Compensation

  • $50,000-$65,000 base
  • Bonus structure

What Madhouse Offers

  • 100% Employer Sponsored Health, Dental, and Vision insurance.
  • Retirement Plan with 3% Company Match.
  • Paid Time-Of including (8) paid holidays, sick days, and volunteer time off.
  • Year-End Bonuses.
  • Monthly cell phone reimbursement.
  • Collaborative, fun, and relaxed environment. Casual dress code most days.
  • Employer sponsored opportunities for learning and growth, professional memberships, professional certifications, and CEU’s.
  • Career Advancement & Growth.
  • Bring your pet to work.
  • Company Events & Social Activities.
  • Giving Back to the Community.

Summary

  • Hours: Full-time, Regular
  • Location: Austin, Texas; Corporate Office
  • Work Hours/Week: 40hrs with Flexible Work Environment
  • Employment Type: Permanent
  • Required Travel: 20% (1-2 times a month)

How To Apply

  • Please send a cover letter and resume.
  • Open until filled.

 

 

Madhouse is an equal opportunity employer and does not discriminate on the basis of race, color, religion, age, sex, sexual orientation, gender identity, national origin, veteran, disability status, or any other legally protected status.

 

Job Sector


 

Experience


2+ to 5 years


This job is no longer active.

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