Remote Real Estate Development Associate | WFH

Position: Real Estate Development Associate

Are you driven by a passion for real estate development and a desire to make a meaningful contribution to communities? We invite you to explore an opportunity to join our esteemed team as a Real Estate Development Associate. This pivotal role involves collaboration with various internal stakeholders to spearhead innovative projects from conception through to completion. Our diverse portfolio includes urban mixed-use developments (residential/commercial), affordable LIHTC multifamily housing, luxury housing, and much more. As a foremost developer in the Upper Midwest, we take pride in our commitment to purposeful real estate development that addresses community needs.

Location: Greater Minneapolis/Saint Paul Area (Hybrid remote/in-person work with travel expectations of 10-15% as necessary)

Key Responsibilities

• Evaluate funding requirements to ensure the viability and sustainability of multifamily and mixed-use projects.
• Direct pre-development activities, including acquisition, environmental assessments, project conceptualization, budgeting, cost analysis, and financing strategies.
• Collaborate with team members and functional groups to create standard proposals.
• Develop financial proformas for multifamily and mixed-use projects, leveraging an array of funding sources like Federal and State Low Income Housing Tax Credits, Historic Tax Credits, New Market Tax Credits, Tax Increment Financing, and Tax Abatement.
• Organize due diligence requirements for various stakeholders.
• Formulate and manage financing packages for lenders, investors, and project stakeholders.
• Assist in the completion and submission of financing applications.
• Create pre-development and operational budgets, cash flow analyses, and reserve analyses.
• Establish overall project timelines and schedules.
• Oversee project cash flows, construction draws, and budgets throughout both pre-development and construction phases.
• Cultivate and sustain relationships with private lending institutions, government officials, and private equity investors.
• Support the management of construction draws and budgets during pre-development and construction.
• Undertake additional responsibilities as assigned.
  
  

Required Skills

• Strong financial modeling capabilities alongside proficiency with various analytical tools.
• Adaptability to shifting priorities and the ability to manage multiple stakeholder expectations.
• Proven track record of meeting deadlines in a fast-paced environment.
• Quick learner with meticulous attention to detail and a firm grasp of the broader organizational context.
• Capacity to multitask while prioritizing responsibilities; adept at working independently and collaboratively within a team.
• Exceptional verbal and written communication skills.
• Proficient in Microsoft Excel and data management.
• Willingness to work extended hours as necessary to achieve deadlines.
• A genuine passion for our mission, vision, and values.
  
  

Qualifications

• Bachelor's degree in Real Estate, Finance, or a related field.
• Experience in business development and/or research and development within the industry.
• Documented experience in assisting the development of at least six proposals for commercial and non-commercial sponsors or relevant equivalent experience.
• Familiarity with Federal and State Low Income Housing Tax Credits, Historic Tax Credits, New Market Tax Credits, and Tax Increment Financing.
• Understanding of the real estate transaction process, including land/building acquisition and the closing of debt and equity.
  
  

Career Growth Opportunities

Joining our team represents a unique chance to significantly influence various development projects. You will be empowered to enhance your skills, broaden your knowledge in real estate financing, and advance your career in a rapidly evolving sector.

Company Culture And Values

We cultivate a collaborative and inclusive work environment that values diverse perspectives and fosters innovation. Our team is committed to building communities and enriching neighborhoods, and we seek individuals who share our mission and dedication.

Compensation And Benefits

• Salary: \(75,000 - \)85,000 annually, with eligibility for bonuses. Compensation is determined by various factors, including experience and skill set.
• Comprehensive benefits package, which may include:
• Medical, Dental, and Vision Insurance
• Employer-paid short-term disability and life insurance
• Additional supplemental insurance options
• Employer-paid employee assistance program
• Fully vested 401k company match program
• Paid holidays and a competitive PTO program
• Discounts at owned establishments, including Starbucks and Hotels
  

We are proud to be an Equal Opportunity and Affirmative Action Employer. We encourage individuals from diverse backgrounds, including women, minorities, individuals with disabilities, and protected veterans, to apply.

Application Process

To be considered for this position, please complete our online application process. If you require reasonable accommodations to complete your application, feel free to reach out for assistance.

We look forward to welcoming you to our team!

Employment Type: Full-Time