Real Estate Development Associate
Real Estate Development Associate
Job Status: Full Time, Salaried, Exempt
Job Site: Preference for Corvallis or Springfield offices (negotiable), with some travel
**Note: all staff are currently working from home due to COVID-19. A home office set-up stipend and monthly internet contribution are in place for the duration of required telework. DevNW is currently evaluating our longer term telework policy, and may go to a hybrid model. This position would need to live within our service area to be within easy reach of real estate project sites.**
Job Salary: $58,000 – $80,000
Benefits: Medical, dental and vision insurance; a deferred compensation retirement plan that includes an employer match (eligibility for the plan begins after one year of employment); paid vacation, sick leave, and holidays; optional alternative schedule of 5/8s, 4/10s, or 4/9s+4.
Supervisor: Director of Real Estate Development
DevNW is committed to creating a diverse workforce to strengthen our organization and is proud to be an Equal Opportunity Employer. The individual differences, life experiences, knowledge, innovation, self-expression, and talent that our employees invest in their work helps shape the culture here at DevNW.
We strive to hire a workforce representative of the communities we serve. Studies have shown that women and people of color are less likely to apply for jobs unless they meet every one of the qualifications listed. In recruiting for our team, we are most interested in finding the best candidate for the job and welcome the unique contributions that you can bring in terms of education, culture, ethnicity, race, sex, gender identity and expression, nation of origin, age, languages spoken, veteran’s status, color, religion, disability, sexual orientation and beliefs.
If you meet key qualifications for the job, and believe you would be the best fit, we would encourage you to apply; please use your cover letter or introduction email to explain how you will accomplish parts of the job for which you have less experience. If you are unsure whether you meet the qualifications of this position, please feel free to contact us.
DevNW is a regional nonprofit community development organization and member of the NeighborWorks® Network. We have offices in Springfield, Corvallis, Salem, and Oregon City, Oregon, and serve a six-county area with a mission to build vibrant communities by empowering individuals, families, small businesses, and neighborhoods. We provide a range of programs and services that create affordable housing; promote economic stability and opportunities for low-income people; and build thriving, inclusive neighborhoods. DevNW is dedicated to deconstructing the racist and discriminatory systems that have led to vast inequalities in housing, asset/wealth building, and small business development in our communities.
Purpose of the Position:
DevNW’s real estate development team builds residential, commercial, and mixed-use projects in both suburban and rural communities. DevNW is recruiting for the position of Real Estate Development Associate.
A DevNW Development Associate is responsible for overseeing and assisting the Director of Real Estate Development with driving all aspects of project management related to the DevNW real estate development portfolio. Responsibilities will include: conducting feasibility analysis; writing applications for and securing land use approvals and project financing; coordinating the services of other development professionals; negotiating agreements; and the management of multiple projects/staff/consultants/schedules simultaneously. Projects will include new construction and acquisition/rehab of multifamily housing, single family housing, community facilities, and mixed-use projects.
The Development Associate works closely with the Director of Real Estate Development, the Real Estate Development Finance Specialist, as well as other DevNW staff and programs, including: Asset Management, the Community Engagement and Healthy Communities Program, the Homeownership and Homeownership Preservation Programs, and Accounting Department. The position requires considerable initiative, independent judgment, a high level of technical skills, and skilled collaboration with a variety of public and private organizations.
Typical Examples of Work:
The Development Associate may perform any or all of the following duties, directly and/or indirectly through the work of other staff as well as through contracts for professional services. This list is illustrative and does not include all of the specific tasks the employee may be expected to perform.
- Oversee due diligence process for prospective properties;
- Conduct feasibility and other financial analysis;
- Facilitate the closing process for acquisitions, project funding, and property disposition;
- Coordinate, participate in, and/or lead development team meetings with partners, such as city planners, general contractors, engineers, architects, legal, etc.;
- Manage land-use applications, including compiling application materials, coordinating the project team, and leading the submission process;
- Manage LIHTC and other public funding applications, including compiling application materials, coordinating the project team, and leading the submission process;
- Assist the Director of Real Estate Development in overseeing active construction projects, including managing project schedules;
- Coordinate project completion timelines and handoff with asset management staff, property management staff (rental projects), and homeownership/real estate sales staff (ownership projects).
- Other specific projects as assigned or developed
The Development Associate does not currently supervise other staff or interns but may in future as the team expands; frequently manages subcontracts for professional services.
Job-Specific Experience, Knowledge, Skills and Abilities:
Any combination of education and experience that would likely provide the required knowledge and skills is qualifying. Examples might include: a masters’ degree with major course work in areas such as finance, business, real estate, planning, community development, public policy, or a related field, plus 1-2 years of professional work experience; or a bachelor’s degree with related course work and 2-4 years of full time professional work experience in project coordination and/or real estate development.
Demonstrated knowledge of:
- All phases of real estate development from concept development to project implementation for both multifamily rental and homeownership projects
- Public and private sources of affordable housing financing including, but not limited to, LIHTC, HOME, USDA Rural Development, CDBG, and a variety of other public and private sources
- Typical operating expenses for multifamily rental properties
- The principles and practices of project and risk management
- Methods for assuring project progress and costs are on schedule and within budget
- The relationship among project financing, project construction standards, and the ability of the owner to maintain the asset over a long period of time.
The ability to:
- Manage multiple projects efficiently and well, including tracking details, actions steps, deadlines, people, and budgets across multiple projects at any given time;
- Effectively coordinate and communicate with development teams that include other DevNW employees, consultants, architects, engineers, builders, public and private sources of financing , and local and state government officials
- Evaluate site conditions, develop alternative project concepts, and develop conclusions about project feasibility
- Create complex spreadsheets for the financial modeling, forecasting, and analysis of real estate development projects
- Negotiate and manage agreements and contracts
- Visit and navigate active construction sites
- Create and maintain manual and computerized filing and record-keeping systems.
General Knowledge Skills and Abilities:
- Commitment to the ideals of equity, asset building, economic justice, and creating economic opportunities for low- to moderate-income families;
- Effective and creative problem solving;
- Communicate information clearly and accurately in writing, by phone, face-to-face, in public, and before public bodies
- Establish and maintain effective relationships with individuals and groups
- Ability to thrive in a job that is fast-paced and varies from one day to the next
- Willingness and ability to adapt quickly as program and organizational needs evolve;
- Ability to work independently and as a member of a close-knit team, with equal ease;
- Proficient in Microsoft Office suite applications including Word, Excel, and Outlook.
- Ability to work some evening and weekend hours; travel to other locations in Oregon; and travel out of state for training and/or conferences for periods up to a week (once a year or less).
- Must have valid Oregon driver’s license and ability to be covered by organizational insurance in order to use company vehicles for work travel, and/or must have reliable transportation, auto insurance and maintain a valid driver’s license (mileage reimbursement provided for work travel in own vehicle).
- Ability to use a computer, keyboard (or adaptive equipment) and associated software for word processing, spreadsheets, databases, email and calendar/scheduling programs.
To Apply: Submit an application package consisting of your resume and introductory email or cover letter no later than 5:00 p.m., April 30, 2021, to: . Applications will be reviewed as they are received, and the position will be open until filled; priority will be given to applications received before 5:00 p.m., April 30, 2021.
DevNW is an Equal Employment Opportunity Employer. All qualified persons are encouraged to apply. Applications for employment will be considered without regard to race, color, national or ethnic origin, religion, gender, gender identity, sexual orientation, marital status, age, disability, and any other characteristic protected by applicable law.
Studies have shown that women and people of color are less likely to apply for jobs unless they meet every one of the qualifications listed. We are most interested in finding the best candidate for the job, and that candidate may be one who comes from a less traditional background. If you meet key qualifications for the job, and believe you would be the best fit, we would encourage you to apply; please use your cover letter to explain how you will accomplish parts of the job for which you have less experience. If you are unsure whether you meet the qualifications of this position, please feel free to contact us.
DevNW values diversity and supports a positive, welcoming environment where all of our employees can thrive. We strive to hire a workforce representative of the communities we serve, understanding a diverse workforce strengthens our organization.