Development Associate

Fitch Irick Management; Charlotte (NC); On-site; USD 65,000 - 90,000; Full time

Benefits offered by this job

Health, dental, and vision insurance

Disability insurance

Life insurance & AD&D

Pet insurance

Paid time off

Company holidays & floating holiday

Employee Assistance Plan

Job summary

Fitch Irick Corporation in Charlotte, NC is seeking a Development Associate to join the Development Team. You will participate in the entire real estate development cycle, focusing on acquisition, financing, and construction for affordable multi-family housing.

You will support complex financial models, LIHTC underwriting, and coordination with developers, closing departments, and third-party providers. Travel up to 50% may be required.

Qualifications

• Bachelor’s degree in real estate, business or finance.
• Minimum of 2 years of relevant experience in affordable housing development or similar field.
• Strong financial analytical skills and advanced Excel experience.
• Familiarity with LIHTC, HUD/USDA programs is a plus.
• Strong written and verbal communication skills; project management experience is a plus.

Responsibilities

• Support the development team through acquisition, financing and construction phases.
• Assist with LIHTC applications and underwriting criteria.
• Prepare complex Excel financial models for multiple deals.
• Support closing, financing, and transition to operations.
• Monitor budgets, contingencies, and variances during construction.
• Prepare funding draws and project status reports.
• Assist with RFP/RFQ responses and community presentations.
• Collaborate with property management on lease-up of completed developments.

Skills

Financial analysis

Communication

Project management

Budgeting

Education

Bachelor’s Degree in related fields (real estate, business or finance)

Tools

Excel

Microsoft Project

Outlook

Teams

Job description

Job Details: Job Location: Fitch Irick Corporation - CHARLOTTE, NC 28209, Position Type: Full Time, Travel Percentage: Up to 50% , Fitch Irick Corporation, an industry leading affordable housing developer, is looking to expand the Development Team with a Development Associate. The ideal candidate will have a formal real estate education and/or relevant experience with a desire to learn more about the development process and a passion for working within a collaborative team in creating affordable housing.

WHAT YOU'LL BE DOING| THE ROLE

The Development Associate will be involved in the entire Real Estate Development cycle, including acquisition, financing, and construction and will work on tasks related to the development of affordable multi-family housing. This individual will support the real estate development team in accomplishing various goals and objectives with regards to applications, preconstruction, design, financial underwriting, permit coordination, construction oversight, asset reporting, and project transition to operations.

Responsibilities include:

• Support Developers with project assessments and report on initial feasibility related to financing, marketability, operational and physical viability.
• Research applicable Qualified Allocation Plans and related materials for underwriting criteria and competitive point-scoring criteria
• Assist with development and operational underwriting including the preparation of complex Excel financial models
• Support Developers and Closing Department in execution of acquisition, construction, and permanent financing
• Assist Developers with a variety of development activities including but not limited to, monitoring, and coordinating development/design activities; coordinating with general contractors, architects, and other third-party providers; coordinate transition to operations
• Monitor development budgets during construction to review contingency, budget adjustments, and potential savings/overages
• Prepare complete and successful applications for LIHTC and other funding sources
• Setting meetings and coordination of agendas
• Assist in the preparation and submission of project funding draws
• Support the preparation of responses to RFP’s and RFQ’s and other presentations to the public, community organizations, and governmental entities
• Collaborate with property management on lease-ups for completed developments
• Coordinate project close-out process
• Coordinate submission of due diligence for Equity Installments
• Prepare regular reports on project status, activity and progress related to both funding goals and construction timelines
• Work on numerous transactions at any given time while maintaining development budgets, timelines, and reporting; Detail and process oriented
• Manage, file & organize project documents
• Special projects as needed and directed

WHAT YOU BRING| THE PERSON

Education, Certifications/ Licenses, Related Experience, and preferred skills

• Bachelor’s Degree in related fields (real estate, business or finance)
• Minimum of 2 years of relevant experience, preferably in affordable housing development, but similar experience in a related field will be considered.
• Strong financial analytical skills including Excel spreadsheet creation and maintenance.
• Familiar with the Low-Income Housing Tax Credit (LIHTC) program, Tax Exempt Multifamily Bonds and knowledge of HUD / USDA programs is a plus
• Advanced Excel experience
• Strong financial acumen
• Microsoft products including Project, Outlook, Teams, etc.
• Exceptional verbal and written communication skills
• Project management experience is a plus

Travel Requirements

This position is primarily in an office setting with the occasional need for travel

WHAT’S IN IT FOR YOU| THE BENEFITS

• Mission-Driven Work: Contribute to providing affordable housing and making a difference in communities.
• Comprehensive Benefits:
  • Health, dental, and vision insurance.
  • Short-term & long-term disability.
  • Life insurance & AD&D coverage.
  • Pet insurance.
  • PTO
  • Paid company holidays & floating holiday of choice.
  • Employee Assistance Plan for you and your family.
• Culture of Growth: Enjoy a workplace that celebrates milestones, rewards high-quality work, and offers professional development opportunities.