Associate Developer

This position assumes exposure to and participation in all aspects of multi-faceted real estate development projects – both market-rate and affordable - from inception through construction completion and lease-up.  This individual is responsible for timely and accurate support to an in-house team of Developers, Senior Developers and Regional Vice Presidents.  This individual will gain exposure to external team of financiers, architects, designers, engineers and contractors.  Most follow up will be their responsibility.  Each Associate Developer simultaneously participates in multiple projects in varying stages of development.  This position demands strong financial skills, meticulous accuracy in all work and effective written and oral communication. 

Pay range: $70,000 - $80,000/year + bonus potential depending on experience.

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• Financial modeling to determine the economic feasibility of a project 
• Drafting, editing, assembling, and finalizing - under the direction of the Team Leader - multiple, professional RFPs and RFQs 
• Participation in building strong public private partnerships 
• Working with municipalities to ensure good communication 
• Preparation  of professional Powerpoint presentations for both large and small groups of financiers, municipalities, and community constituents for the purpose of marketing Pennrose Properties to groups that could be potentially skeptical and occasionally adverse 
• Timely follow-up of land-development approval process 
• Coordination of legal matters as directed by the Team Leader 
• Working knowledge of all site-control documentation, loan agreements, equity documents, and partnership agreements 
• Coordination of architectural and engineering matters under the direction of the Team Leader for proposed developments 
• Creation of realistic project schedules 
• Development of realistic project budgets 
• Interfacing with contractors and other professionals to build proposed developments 
• In-depth involvement in coordinating the lease-up of completed developments with full flow of information concerning limiting criteria 
• Maintenance of calendars 
• Scheduling and coordinating the logistics for all development meetings 
• Complying with all provisions of the Pennrose Properties personnel policies 

Performance Metrics :

• Work product including components of RFPs submissions, 8609 submissions, NPDS, funding applications, draw down packages and other project related documents is prepared with high level of accuracy, attention to detail and delivered on a timely basis.  
• Demonstrated financial skills through the production of budgets and proformas for throughout the development process.  

• Project development goals are met within established timeframes.  
• Organized and systematic management of project development checklists, scheduled (employing technology tools) to close within established time and within the budget.  

Required Education and Experience: 

• BA or BS in Finance, Real Estate, Business or related field is required 
• Master’s Degree or at least 3 years of work experience is required 
• Solid real-estate knowledge base 
• Strong analytical ability 

• Exceptional verbal and written communication skills 
• Expertise in composing on-message PowerPoint presentations  
• Considerable inter-personal skills including the ability to establish and maintain effective working relationships with others; being both responsive and thoughtful 
• Discretion in handling confidential information 
• Demonstrated organizational skills, including the ability to set priorities in concert with the development team  

• Ability to work independently 
• Demonstrated ability to work under pressure exercising sound judgment, prioritizing demands and responding with composure to a fast-paced environment with high-energy leadership 
• Demonstrated understanding of project proformas for both market-rate and public housing developments 
• Experience in filing applications requesting Low Income Housing Tax Credits, Federal Home Loan Bank Affordable Housing Program funds and soft resources 
• Proficiency in Outlook, Microsoft Office including Word and Excel 

• Demonstrated punctuality and respect for other’s time 
• Accuracy – with an attention to detail -  and speed in task execution 
• Strong work ethic and exceptionally high work standards 
• Maturity, good judgment and professionalism 
• Requires a valid driver’s license, an insured vehicle, and the ability to travel (between properties, on-call emergencies, training, etc.) 

Working Conditions: 

• Ability to work periodic flexible hours is required. Ability to travel by plane and automobile is required. 
• Ability to work at property locations within or near transitional neighborhoods – again with the support of PMC. 
• Ability to climb stairs, take elevators, bend, squat and reach over head.