Development Associate (Affordable Housing/LIHTC)

Lincoln Avenue Communities; Santa Monica (CA); Hybrid; USD 120,000 - 135,000; Full time

Benefits offered by this job

Performance bonuses

Medical/dental/vision coverage

401(k) with match

Relocation assistance

Generous PTO and holidays

Job summary

Lincoln Avenue Communities (LAC) is seeking a Development Associate for our Santa Monica headquarters to expand access to quality affordable housing nationwide. You will work across LIHTC transactions, underwriting, deal structuring, and portfolio transitions, gaining meaningful experience from concept to close in a collaborative environment.

This early-career role requires strong financial modeling, LIHTC financing knowledge, and the ability to partner with deal teams, capital partners, and

Qualifications

• Bachelor's degree in business, finance, real estate, development, or related field.
• 2+ years of affordable housing development experience with LIHTC.
• Background in real estate investment banking, private equity, or real estate development.
• Strong Excel investment modeling and presentation skills.

Responsibilities

• Work with deal teams to execute complex LIHTC transactions including 4% LIHTC structures.
• Assess market dynamics, financial feasibility, and structure transactions.
• Collaborate with capital partners, consultants, and internal teams to drive deals.

Skills

LIHTC knowledge

Tax-exempt bonds

Syndication experience

Financial analysis

Excel modeling

Relationship building

Independence

GenAI proficiency

Education

Bachelor's degree in business/finance/real estate

Tools

Investment presentation experience

Job description

About Lincoln Avenue Communities

Welcome to Lincoln Avenue Communities (LAC), a leading, mission-driven real estate private equity firm dedicated to strengthening communities through the development and preservation of affordable housing.

As a vertically integrated developer, investor, and long-term operator, we deliver sustainable, high-quality homes to lower- and moderate-income individuals, seniors, and families across 32 states. Our growing portfolio—more than 200+ properties and 35,000+ homes—reflects our commitment to long-term impact, operational excellence, and resident well-being.

LAC is proud to be recognized as an industry leader, recently ranked No. 1 on Affordable Housing Finance’s 2025 AHF 50 list of top developers. Our approach combines strategic investment, thoughtful design, and community partnerships to deliver housing solutions that foster stability, opportunity, and resilience.

The Opportunity

Lincoln Avenue Communities is seeking a Development Associate to join a talented team of real estate professionals focused on expanding access to quality affordable housing across the country. This is a compelling opportunity for an early-career affordable housing professional who is energized by complex transactions, motivated by mission-driven work, and eager to build deep technical expertise within a stable, growing platform with a strong national pipeline.

What makes LAC unique is the level of exposure our Development team members receive. As an Associate, you will play an active role in advancing projects from initial concept through closing, gaining meaningful experience across the full lifecycle of LIHTC and affordable housing transactions, including underwriting, deal structuring, execution, rehabilitation, construction, and portfolio transition. Rather than being siloed in one part of the process, you will develop a well-rounded understanding of how complex affordable housing deals come together.

This role is highly collaborative and offers direct exposure to the people, decisions, and partnerships that move transactions forward. You will work closely with Originations and partner regularly with Asset Management, Construction, Legal, Finance, senior leadership, and third-party consultants to support successful outcomes across the portfolio.

This role is based in our Santa Monica Headquarters. This is a hybrid role, with an expectation of being in the office at least 4 days a week.

What You'll Contribute To

• Work with deal teams to execute on a variety of complex transaction types spanning LIHTC new construction, re-syndications and acquisitions, with a focus on 4% LIHTC structure.
• Work closely within deal teams to assess market dynamics, determine financial feasibility, and structure complicated transactions.
• Work with internal teams, capital partners, and consultants to drive transactions forward throughout the full deal lifecycle.
• Assist in capital structuring to include obtain debt and equity financing, including LIHTC, Tax-exempt bonds, FHA and Agency debt, and other forms of subordinate or gap financing as needed.
• Maintain up-to-date pro-formas that accurately reflect the project budget and financing plan.
• Establish close relationships with key agency staff members, government officials, community members, and state HFAs.
• Assist with the training and mentoring of analysts who support the Associate role.
• Help create and execute successful business plans from start to finish, ensuring high quality investments and best practices.

What You Bring

• Demonstrated experience or knowledge of public and private affordable housing funding resources and subsidy programs, including LIHTC, tax-exempt bonds, and syndication process; ability to combine financing tools to leverage housing funds creatively.
• Numbers-oriented with strong analytical skills who can evaluate complex data and provide solutions. Adept at modeling and thinking through investments and the impact of decisions through the investment process on financial outcomes.
• Detail and process-oriented.
• Self-starter with the ability to work independently while also being comfortable interacting with and presenting to senior management and external parties.
• Aptitude for creating strong internal and external relationships. Must be a strong collaborator among peer groups within the company, and with counterparties.
• Passionate and aligned with the company's double bottom line mission: generating risk-adjusted returns and managing great, stable communities for our residents.
• Ideally, this person brings experience with execution at the granular development & transaction level
• Ability to utilize GenAI tools to optimize workflows, improve efficiency, and enhance overall productivity while maintaining accuracy, quality, and sound judgment.
• Perform other duties as reasonably assigned.

Education And Experience

• Bachelor's degree in business, finance, real estate, development, or related field with demonstrated performance and leadership in school is required.
• 2+ years of experience in affordable housing development, with a strong working knowledge of LIHTC transactions and processes is required.
• Background in real estate investment banking, private equity, or with a for-profit real estate developer and owner/operator required.
• Highly proficient in investment analysis using Microsoft Excel models and investment presentation experience.

Benefits

The expected base salary for this role is $120,000 - $135,000. This represents the current target and is subject to change. To determine starting pay, we carefully consider a variety of factors, including primary work location and an evaluation of a candidate’s skills, experience, market demands, and internal parity. Our comprehensive total rewards package offers more than just a salary. Benefits include:

• Additional compensation offered in the form of performance-based bonuses, including semi-annual supplemental bonuses for high-performing employees
• Full medical, dental, and vision coverage for you and your dependents
• 401(k) plan with employer matching and immediate vesting
• Life and disability insurance
• Relocation assistance
• Generous PTO, holidays, and sick time
• Lunch provided daily
• On-site gym facility
• Paid parental leave
• Employee referral incentives
• Significant firm investment in individual and team-oriented growth
• Fun company and team-building events
• Continuous learning and development opportunities