NuRock, An award winning, national real estate development, construction and management firm is looking for a dynamic Associate Development Manager who will play a key role in the future growth of their impressive portfolio.
Responsible and accountable for assisting in creating ground-up, market rate, LIHTC and affordable financed apartment opportunities in the State of Texas. This includes deal generation and coordinating all aspects of the pre-development, design, entitlement, and closing processes in addition to forming partnerships with local, state and federal entities to create high quality multifamily housing.
ESSENTIAL DUTIES AND RESPONSIBILITIES
Assist with the following:
- Pre-development process which includes, but is not limited to, market and site identification/evaluation, purchase contract negotiations, rezoning/entitlements, deal structuring and underwriting, build relationships with property management, both internal and external stakeholders
- Determine market and financial feasibility of new real estate development and investment opportunities
- Perform, coordinate and/or lead pre-development work such as preliminary architecture and site design, zoning/entitlement issues, and neighborhood and/or local government support
- Identify and cultivate relationships with local, state and federal government entities for project specific partnerships.
- Calculate financial feasibility of proposed developments including pro forma analysis, return on cost, and internal rate of return analysis that meet or exceed established threshold underwriting criteria
- Successfully generate a pipeline of profitable deals based upon annual production expectations and established investment criteria. This role will be expected to generate at least two closings per calendar year within the first two years or less from start date
- Coordinate with and distribute information to design, finance, legal, construction, property management and accounting staff when appropriate
- Other duties as assigned
QUALIFICATIONS/SKILLS & KNOWLEDGE REQUIREMENTS
- Bachelor’s degree (B.A./B.S.) or equivalent.
- 2 – 3+ years of experience.
- Must have new construction multifamily development and finance experience. Affordable housing (LIHTC) development and finance experience in addition to conventional is a MUST.
- Ability to read, write, interpret and analyze business publications, technical procedures and government regulations. Ability to write and interpret reports, correspondence and manuals. Ability to effectively present to groups of people including employees, vendors and the general public.
- Ability to work with concepts such as internal rate of return (IRR), net present value (NPV), and various other valuation metrics. Ability to apply concepts such as fractions, percentages, ratios and proportions to situations.
- Ability to solve problems and work with a variety of concrete variables in situations where only general guidelines exist. Ability to interpret instructions in written, oral, diagram or schedule form.
- Must be an experienced negotiator.
- Advanced experience with MS Office.
- Must be a team player, strong people skills and be able to multi-task while remaining flexible.