Overview
The Development Associate is the foundational role on the development team, responsible for supporting projects throughout the developments process from inception through project closeout including market research, underwriting, due diligence, zoning/entitlements, design, construction, and building turnover activities. Associate to work closely with senior team members to build financial models, track project schedules, and coordinate with internal and external stakeholders across all phases of a development project. This role requires Monday - Thursday on-site attendance at our McLean, VA Corporate Office, with Friday being a remote work day.
Compensation: $105,000 - $120,000/annually
We offer a robust Benefits Package including, but not limited to:
- Paid Time Off
- Health, Dental, Vision insurance; Life Insurance; Prescription coverage
- Tax-Advantaged Spending Accounts (HSA or FSA)
- 401(k) retirement plan with company match
Responsibilities
- Assist in obtaining entitlements, permits, and approvals from local municipalities
- Assist in the preparation of investment committee memoranda, executive summaries, and lender/equity presentations
- Assist in developing project vision, business plans and monitor project performance against business plans and financial models
- Assist with requests for proposal, contracts, and vendor contract management
- Support due diligence processes including review of title, survey, environmental reports, and zoning entitlements
- Review consultant and contractor invoices
- Build and maintain detailed pro forma financial models in Excel for prospective acquisitions and active development projects
- Support market research including comparable sales, rental rate surveys, supply/demand analysis, and demographic studies
- Track project budgets, schedules, and draw requests; coordinate with contractors and consultants
- Maintain project databases, manage document control, and organize data rooms for investors and lenders
- Prepare reporting packages for senior leadership and equity partners
- Coordinate with architects, engineers, attorneys, and other third-party consultants
- Attend site visits, public hearings, project meetings and complete other project assignments as requested
- Assist with punchlist process, project opening and project close-out tasks
- Travel as needed
Qualifications
- Bachelor's degree in Real Estate, Finance, Business, Urban Planning, Construction Management, Architecture, or related field is required
- Master’s degree preferred
- 2 – 4 years of experience in commercial real estate, investment banking, or finance is required
- Strong proficiency in Microsoft Excel; experience with Argus Enterprise a plus
- Solid understanding of real estate financial fundamentals (IRR, NPV, cap rates, debt coverage ratios)
- Excellent written and verbal communication skills
- High attention to detail and ability to manage multiple tasks simultaneously
- Self-starter with strong work ethic and willingness to learn in a fast-paced environment
- Familiarity with Yardi, MS Project and Bluebeam preferred
