The Development Associate will be responsible for supporting the affordable housing development team in all aspects of project development including: entitlements, design, financial analysis and modeling, deal memo preparation, due diligence, legal oversight, budgeting, and construction. This position is a key support position that will provide the candidate significant professional growth and exposure to all aspects of affordable housing development. This position will be based in Irvine, California.
Related California is a fully-integrated real estate firm that develops multifamily residential and mixed-use properties throughout California.
For 30 years, Related California has undertaken a range of transformational developments from best in class luxury high rise residential properties to the redevelopment of obsolete public housing, spanning a broad spectrum of urban infill, affordable, mixed-income and market rate multi-family developments. The company has a development portfolio of 16,000 residential units completed or under construction, and more than 1,300 affordable and 3,500 market rate units in pre-development.
Related California has developed more than $6 billion in assets and has a track record of consistently developing communities that exceed industry benchmarks in design, construction, sustainability and property management.
Parent Company Overview
Related Companies is a global real estate and lifestyle company defined by innovation and the most prominent privately-owned real estate firm in the United States. Formed 40 years ago, Related is a fully-integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing and sales. Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, Las Vegas, San Francisco, South Florida, Washington D.C., Abu Dhabi and London, and boasts a team of approximately 4,000 professionals. With over $60 billion in assets owned or under development, including the 28-acre Hudson Yards neighborhood on Manhattan’s West Side, The Grand and Related Santa Clara in California and The 78 in Chicago. Related was recently named to Fast Magazine’s list of the 50 Most Innovative Companies in the World.
- Assist with all aspects of the development of affordable multifamily projects: financing, entitlement/government approvals, consultant coordination, public relations, design, leasing/marketing, and construction oversight.
- Perform financial analysis and due diligence for new development opportunities, assisting in underwriting and cash flow analysis, and responding to Requests for Qualifications or Proposals.
- Assist in preparing business plans, including deal memorandums, annual operating plans, financial forecasts and strategic plans.
- Compile detailed financing applications for various municipal funding programs such as low income housing tax credits and tax exempt bonds.
- Assist in coordinating loan draws, forecasting project budgets and cash flows, and managing project deliverables.
- Research and analyses: benchmark economic activity in target markets by tracking rents, sales per square foot, operating costs, competitive supply and economic expansion activity.
- Minimize exposure and risk on various projects.
- Effectively communicate relevant project information to senior project team members.
- Minimum Bachelor’s Degree; preferably in real estate, business administration, public policy and planning.
- Strong quantitative and MS Excel, Word, PowerPoint, Project skills are a prerequisite. Experience in Adobe Suite a plus.
- Strong project management skills, results-driven, with ability to manage multiple deadlines.
- Complex thinker of high intelligence and demonstrates strong intellectual curiosity.
- Experience, knowledge, and understanding of real estate development a plus.
- Keen attention to detail.
- High energy; possessed with drive.
- Suitability to an entrepreneurial culture that places a premium on performance.
- Must be a team player, but also a self-starter that can perform with limited direction.
- Excellent written and verbal and communication skills.
Once we are finished qualifying candidates we will be in contact. PLEASE NO CALLS!
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