Development Associate

Development Associate

The Development Associate provides day-to-day management of development projects throughout design and construction. Coordinates with consultants during the due diligence and construction phase of projects, and interacts directly with equity partners, lenders, and asset management teams.

Job responsibilities include:

• Evaluating, preparing, and reviewing financial analysis of development opportunities, including creating detailed pro-forma and financial models.
• Oversight of market data analysis, preparation of narrative investment memoranda, detailed reports, and market summaries that provide insights on proposed projects.
• Assisting with consultant engagement and direction to complete project design and solve any issues to receive permits in timely manner.
• Soliciting feasibility studies and proposals from design consultants.
• Participating and managing the due diligence of development sites under contract and preparing documentation on key findings that may affect the return and financial performance of the proposed deal. Working closely with the consultant team to solve issues and permit the project in a timely manner before construction start. Reviewing and resolving title and survey matters and reviewing and marking up plans. Managing due diligence and timeline trackers.
• Identifying utility locations and coordinating will serve letters.
• Coordinating with construction team as they comply pricing to ensure budget accurately reflects development plan and conditions of approval.
• Attending hearings, municipal and neighborhood meetings. Working with consultants to prepare deliverables.
• Administering the Development and Construction Status Report (DCSR) process. Monitoring and reporting on the status and progress of proposed development pipeline project, recommending critical timelines and deadlines for tasks and activities related to the proposed transaction, and identifying and communicating issues or problems that could adversely affect closing.
• Preparing reports and updates for equity partners and lenders and coordinating with the finance team to assist with potential equity and debt sources questions.
• Tracking pre-development budgets and invoice processing.
• Coordinating closely with lender to ensure an efficient closing process by handling and organizing documents and interfacing with legal counsel.
• Maintaining keen understanding of economic activity in target markets by tracking market fundaments and actively participating in industry organizations.
• Collaborating with the development team, property management and consultants to approve floor plans, signage plan and design of the building.
• Representing ownership on day-to-day project management activities including OAC meetings and jobsite visits, including attending mock ups, box walks and FF&E installs.
• Attending recurring design and construction meetings and documenting meeting minutes and managing action item follow ups.
• Preparing project reports and budgets.
• Preparing fitness center, pool, and FF&E budgets.
• Coordinating directly with architect, contractor, counsel, and project consultants.
• Reviewing and maintaining compliance with legal transactional and permitting documents.

Qualifications

• 1-4 years of experience in real estate development, finance, construction, or architecture.
• A bachelor's degree is required in finance, business, real estate, economics, construction, architecture, or related field. Master's degree is preferred.
• Attention to detail and exceptional creative problem-solving skills.
• Proficiency in Excel and financial modeling skills, with advanced knowledge of cash flow forecasting.
• Highly motivated self-starter with strong organizational, time-management and project management skills to effectively track report and manage multiple projects and priorities where meeting deadlines is critical.
• Excellent interpersonal and relationship-management skills in order to establish, cultivate, and maintain productive relationships with brokers, institutional and equity partners, owners, lenders, and the variety of potential clients with whom Greystar does business.
• Advanced written and communication skills with professional presentation and public speaking ability.

Additional Compensation:

• Corporate Positions: In addition to the base salary, this role may be eligible to participate in a quarterly or annual bonus program based on individual and company performance.
• Onsite Property Positions: In addition to the base salary, this role may be eligible to participate in weekly, monthly, and/or quarterly bonus programs.

Robust Benefits Offered*:

• Competitive Medical, Dental, Vision, and Disability & Life insurance benefits. Low (free basic) employee Medical costs for employee-only coverage; costs discounted after 3 and 5 years of service.
• Generous Paid Time off. All new hires start with 15 days of vacation, 4 personal days, 10 sick days, and 11 paid holidays. Plus your birthday off after 1 year of service! Additional vacation accrued with tenure.
• For onsite team members, onsite housing discount at Greystar-managed communities are available subject to discount and unit availability.
• 6-Week Paid Sabbatical after 10 years of service (and every 5 years thereafter).
• 401(k) with Company Match up to 6% of pay after 6 months of service.
• Paid Parental Leave and lifetime Fertility Benefit reimbursement up to $10,000 (includes adoption or surrogacy).
• Employee Assistance Program.
• Critical Illness, Accident, Hospital Indemnity, Pet Insurance and Legal Plans.
• Charitable giving program and benefits.

*Benefits offered for full-time employees. For Union and Prevailing Wage roles, compensation and benefits may vary from the listed information above due to Collective Bargaining Agreements and/or local governing authority.

Greystar will consider for employment qualified applicants with arrest and conviction records.

Greystar is an equal opportunity employer and does not discriminate in employment on the basis of race, color, religion, sex (including pregnancy, sexual orientation, and gender identity), national origin, age, disability, genetic information, military or veteran status, or any other characteristic protected by applicable law.

Important Notice: Greystar will never request your banking details or other sensitive personal information during the interview process. Greystar does not conduct any interviews via text or messaging, and all communication will come from official Greystar email addresses (@greystar.com). If you receive suspicious requests, please report them immediately to [email protected].