Development Associate- Senior Living

Evergreen Real Estate Group; Chicago (IL); Hybrid; USD 80,000 - 95,000; Full time

Benefits offered by this job

Hybrid schedule

Travel to Ohio project sites

Job summary

Evergreen Real Estate Group in Chicago is hiring a Development Associate for Senior Living to support every phase of 4% LIHTC projects in Ohio. You will build and maintain deal-level models, assist with funding applications, due diligence, and closing processes while coordinating with lenders, investors, and agencies.

You will contribute to financial modeling, sources and uses, and offer strong written communication across multiple stakeholders on a hybrid schedule with periodic travel to Ohio

Qualifications

• Bachelor’s degree in real estate, finance, urban planning, business, or a related field.
• 2-3 years of experience in real estate development, real estate finance, or a related analytical role.
• Exposure to LIHTC, tax-exempt bonds, or ground-up development is a plus.
• Experience with LIHTC equity closings or state HFA applications is a plus but not required.

Responsibilities

• Support the development proforma and update the model from underwriting through closing and construction.
• Run sources and uses, sensitivity analysis, and structuring scenarios.
• Assist in preparing 4% LIHTC and tax-exempt bond applications and coordinate third-party diligence.
• Maintain due diligence checklists and summarize key documents for the team.
• Prepare equity and debt packages and respond to investor and lender questions.
• Support construction-period reporting to investors, lenders, and agencies.

Skills

Excel modeling

Written communication

Organization

Travel readiness

Education

Bachelor’s degree in real estate, finance, urban planning, business, or related field

Job description

Position Title: Development Associate- Senior LivingDepartment: Evergreen Senior Living (ESL)Reports To: Development Manager (ESL)Location: Chicago,IL (Hybrid), with periodic travel to Ohio project sitesFLSA Status: ExemptSalary Range: $80,000-$95,000 + BonusJob SummaryEvergreen Real Estate Group is scaling a pipeline of 4% LIHTC Affordable Assisted Living (AAL) communities across Ohio under the Green Oaks brand. Each deal is a ground-up development financed with tax-exempt bonds, 4% LIHTC equity, and layered gap sources. Evergreen Senior Living (ESL) is seeking a Development Associate to support every phase of these deals — financial modeling, funding applications, due diligence, closing, and construction-period execution. The Development Associate works under the direction of the Development Manager, building deal-level analysis and organization that keeps each project moving, with growing exposure to investors, lenders, and agencies.Key ResponsibilitiesFinancial Modeling & UnderwritingSupport the development proforma for each deal, updating and maintaining the model under the Development Manager's direction from initial underwriting through application, closing, construction, and conversionHelp run sources and uses, sensitivity analysis, and structuring scenariosFunding Applications & Public FinanceAssist in preparing 4% LIHTC and tax-exempt bond applications to OHFA and other state housing finance agencies, plus gap funding applicationsCoordinate third-party reports — market studies, appraisals, environmental, and other diligence — to application and lender timelinesDue Diligence & ClosingMaintain due diligence checklists across lender, investor, and operator workstreams; help review and summarize key documents (loan documents, LPA, PSA, operating agreements) so the team can act on themSupport the closing process: help coordinate counsel, lender, syndicator, and operator; keep the model current; assemble closing packagesInvestor & Lender CommunicationHelp prepare equity and debt packages and assist in responding to investor and lender underwriting questionsSupport construction-period reporting to investors, lenders, and agencies, including draw support and conversion deliverablesHelp prepare internal analysis and reporting — pipeline updates, deal memos, and investment committee materialsPredevelopment & Project SupportSupport market research, demand analysis, site due diligence, and zoning and entitlement work, including meetings with local governmentsKeep deal files organized and current on shared systems so anyone on the team can find what they needEducation & ExperienceBachelor’s degree in real estate, finance, urban planning, business, or a related field2-3 years of experience in real estate development, real estate finance, or a related analytical role; exposure to LIHTC or ground-up development a plusExposure to state HFA applications, tax-exempt bond executions, or LIHTC equity closings a plus but not required; senior housing exposure also a plusTechnical & Physical SkillsStrong Excel modeling skills; able to update and maintain a development and operating proforma with guidance from senior team membersAble to read, question, and summarize deal documentsOther RequirementsPeriodic travel to Ohio project sites for site visits, agency meetings, closings, and community openingsSkillsStrong written communication for investor, lender, and agency audiencesOrganized and reliable across many parallel workstreamsWork Environment & Physical DemandsThis role is based at Evergreen’s corporate office in Chicago on a hybrid schedule, with periodic travel to Ohio for site visits, agency meetings, closings, and community openings. Evergreen Real Estate Group provides reasonable accommodations to enable qualified individuals with disabilities to perform the essential functions of this role.