Development Associate - Mid-Atlantic

TRL Systems, Inc.; Arlington (VA); On-site; USD 70,000 - 100,000; Full time

Benefits offered by this job

Competitive compensation

Medical, dental and vision

Disability and life insurance

401k with company match

Paid time off

Job summary

Mill Creek seeks a Development Associate to support the Managing Director and the development team across pursuit, market research, site acquisition, due diligence, design, financing, and entitlements.

You will assist with each phase of construction, coordinate with consultants and internal teams, and help ensure compliance and timely project milestones. Strong communication, leadership and analytic skills are essential.

Qualifications

• Bachelor’s degree required; degree in business, finance or real estate preferred.
• 3–5 years’ experience in real estate, development or finance.
• Direct multifamily development experience is a plus and DC Metro market knowledge.

Responsibilities

• Assist in pursuit of new development including market analysis and due diligence.
• Create and maintain pro formas for pursuits, pipeline and active development.
• Coordinate development activities with architects, engineers and internal teams.
• Coordinate financing activities and prepare Offering Memoranda.
• Draft deal memos for Investment Committee at milestones.
• Manage construction draw process, monthly reports and construction phases.
• Oversee third party inspections and bond releases toward project completion.
• Lead development meetings and design consultant coordination.
• Conduct site visits for recurring meetings and construction walks.
• Ensure compliance with plans and communicate issues to leadership.
• Participate in company training on fair housing, safety and non-discrimination.

Skills

Microsoft Word

Microsoft Excel

Microsoft PowerPoint

Leadership

Public speaking

Time management

Communication

Education

Bachelor's degree in Business/Finance/Real Estate or related field

Job description

The Development Associate’s primary responsibility is to provide support to the Managing Director and be an integral part of the development team in assisting with the pursuit of new development, market research, site acquisition, due diligence, managing the design process, financing, and zoning & entitlements. This position is also responsible for each phase of the construction process and coordinating site specifications.

Essential Duties & Responsibilities

• Assist in the pursuit of new development, including market analysis, financial feasibility, negotiating land contracts, and preliminary due diligence.
• Create and maintain pro formas for each pursuit, pipeline, and active development including market information, operating expense data, and estimated hard and soft costs.
• Coordinate development activities with architect, engineer, landscape architects, interior designers, property managers, project managers, and the internal Mill Creek team.
• Coordinate financing activities with the Finance team, including the creation of Offering Memoranda. Financing responsibilities may include assisting the Managing Director and Finance team in negotiating and implementing Joint Venture equity agreements and loan documentation.
• Draft and assemble deal memos to the Mill Creek Investment Committee for each pipeline opportunity, at select project milestones.
• Manage the construction draw process, develop monthly project reports, and review each phase of the construction process.
• Manage third party inspections and bond releases for projects nearing completion.
• Manage development meetings, including, but not limited to, design consultant coordination, contract negotiations, and coordination of construction.
• Conduct site visits for various recurring meetings and general construction walks.
• Ensure strict compliance with plans and communicates to the Managing Director and teammates any critical issues.
• Participate in Company-provided training such as fair housing, safety, non-discrimination, and harassment prevention.
• Comply with all Company National Standards, applicable health and safety rules and regulations, as well as applicable local, state, and federal laws.

Education and/or Experience

• Bachelor’s degree required. Degree in Business, Finance, Real Estate or other related field is preferred for this position.
• Minimum of three to five years in real estate, development or finance.
• Direct multifamily development experience and knowledge of the DC Metro market is a plus.

Skills/Specialized Knowledge

• Possess an advanced knowledge of Microsoft Word, Excel and PowerPoint.
• Excellent interpersonal skills; ability to relate to others.
• Profession verbal and written communication skills.
• Strong organization and time-management skills.
• Ability to perform advanced mathematical and accounting functions.
• Must be proactive, self-directed and highly motivated.
• Must have strong leadership ability.
• Ability to conduct presentations or speak in public to large groups of people.

About the Benefits of joining the Mill Creek Team

• Competitive compensation
• Comprehensive medical, dental and vision
• Employer sponsored short and long term disability, Life and ADD insurance401k with employer matching
• Paid time off benefits: Vacation, Sick, Holidays