Development Associate
UDR
Professional Area:
Real Estate Development
Experience:
3-5 years
Contact person:
Shantel Holland
Phone:
720.348.7653
Email:
shholland@udr.com
Location:
Highlands Ranch, CO
GENERAL SUMMARY OF DUTIES: Analyze the profitability of potential deals, work with third-party consultants to coordinate the due diligence and design process, and gathers and analyzes relevant market data. Manage the creation of financial analysis, modeling, and support for the Company’s new business development activities in the real estate industry. Coordinate with the development director and construction management staff in the management of developments in the pre-construction, construction and close-out stages as required. This may include assisting with aspects of the construction project such as design, budgeting, operations, approval processes and public relations.
SUPERVISION RECEIVED: Reports directly to the Vice President – Development or Director – Development
SUPERVISION EXERCISED: The Development Associate will co-supervise any staff that is required to support ongoing development activities. This may include accounting staff, interns, construction support staff or analysts.
ESSENTIAL FUNCTIONS: Investigate potential apartment sites in selected markets and commence negotiations for those sites deemed appropriate by the development team. Analyze the financial feasibility of such proposed projects by gathering and reviewing proformas and construction costs and relevant market data to create the appropriate product design and instigate the entitlement process as required by local jurisdiction. Oversee third-party consultants involved in the due diligence process during the design and development stages of the project by providing specific direction to produce a design that maximizes the economic benefit of the developed property. Assist members of the development team to guide the due diligence process in the acquisition of land for development including pursuit of appropriate entitlement to allow for the construction of the desired product. Coordinate and assist in managing budgets and reporting on progress during the pre-construction and construction stages in conjunction with the appropriate construction project manager. Coordinate with the operations team to ensure construction schedule complements lease-up timeframes and requirements. Prepare and distribute periodic development reports including monthly Job Cost Reports to senior members of the team. This will require budget review and coordination with accounting and construction. Perform other duties as assigned or as necessary. Requirements
PERFORMANCE REQUIREMENTS: Knowledge of organizational policies and procedures, fiscal management, and office management techniques. Ability to apply policies and procedures to solve everyday and/or complex company issues. Ability to think conceptually and translate concepts into practical applications solutions and decisions. Ability to demonstrate and execute practical and effective solutions to problems. Must have a strong work ethic, integrity, and good business acumen. Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to apply concepts of basic algebra, geometry, and statistics. Monitors and ensures compliance with regulatory requirements, federal, state, and local laws and organizational standards. Identifies and reports potential risk areas and supports the problem resolution. Knowledge of fiscal management and office management techniques with strong skills regarding spreadsheets, word processing and database applications. Strong experience and demonstrated aptitude with MS Excel, and some experience with MS PowerPoint, and business intelligence tools. Ability to process computer data and to format and generate reports. Ability to create, compose, and edit written materials. Excellent verbal and written communication skills. Ability to write reports, business correspondence, and procedure manuals. Ability to effectively present information to and respond to questions from management or team members. Ability to establish priorities and coordinate work activities. Practices proper safety techniques in accordance with Company, community, and departmental policies, procedures, and standards, and immediately reports any mechanical or electrical equipment malfunctions, associate/resident/visitor injuries or accidents, or other safety issues to the appropriate individual(s).
EDUCATION AND EXPERIENCE: Bachelor’s Degree in business, architecture, or related field required. Master’s Degree in planning, real estate development, architecture, business, or engineering preferred. Minimum of two years’ experience as a project manager in real estate development. Minimum of three years’ experience within the real estate industry. Demonstrable experience with and knowledge of project management (was public approval) processes related to real estate, entitlements, development and/or construction; could include entitlements, zoning and affordable housing. Must have and maintain a valid driver’s license unless otherwise noted.