Development Associate

DEVELOPMENT ASSOCIATE

Company Background: Beacon Communities LLC is a mission-driven for-profit company that develops, owns, and manages affordable and mixed income housing.  We own and manage approximately 18,000 apartments across the northeast and have a proud fifty-year history of building and managing award-winning residential communities that serve a diverse cross-section of society and make enduring contributions to the cities and towns where they are located.  We are actively developing in Massachusetts, Connecticut, New York, Pennsylvania, Maryland, Ohio, and Virginia.  These developments include, among other things, the preservation and renovation of existing affordable housing, the redevelopment of distressed public housing, the adaptive reuse of historic buildings into mixed-income housing, and the new construction of Passive House certified apartment buildings for low income households.

General Statement of Duties: The Development Associate will be responsible for working closely with and assisting Development Directors and senior staff on projects throughout all stages of development.  The Development Associate will assist with (1) assessing potential development sites and properties; (2) budgeting and financial analysis, including pro-forma development and cash flow forecasts; (3) securing debt and equity financing, including completing financing applications and supporting financial closings; (4) coordinating with development team members; (5) facilitating the permitting and construction/renovation process; (6) generating Request for Proposal responses and producing other external communications materials; and (7) overall project management.

Through this role, the Development Associate will gain a nuanced working understanding of affordable housing development and preservation by supporting multiple diverse projects through the full development process.  The Associate will benefit from Beacon’s culture of learning and development and a supportive atmosphere that rewards independent thinking and encourages personal growth.  Beacon looks to hire people with the potential and drive to grow over time into more senior positions.

Supervision Received:  Reports to President or Vice President of Beacon Communities Development (along with project-related supervision from multiple Development Directors)

Supervision Exercised: No supervisory duties required.

FLSA Status: Exempt

Location: The associate will be a part of project management teams based out of our Pittsburgh, Albany, and Boston offices.  The associate should live close enough to one of the offices to be in the office twice a week.

Essential Functions of the Position:  The Development Associate, working in conjunction with senior staff, will be responsible for assisting Development Directors and the development team in:

• Identifying and researching properties and sites for acquisition and development;
• Conducting project feasibility studies;
• Negotiating contracts with development team members;
• Coordinating development team members and consultants;
• Developing and maintaining development and construction budgets;
• Working with design teams to develop architectural programs and scopes of work;
• Researching financing opportunities and completing tax credit and other financing applications;
• Coordinating with lenders, agencies, syndicators, and joint-venture partners to secure funding;
• Obtaining permits, including zoning and environmental approvals;
• Coordinating closing agenda items to ensure the project’s financing closes on schedule;
• Providing day-to-day project management support from inception through close-out;
• Managing project budgets;
• Creating and maintaining summaries, project files, reference materials, and other resources for individ­ual projects and for the development team to remain organized;
• Planning and coordinating groundbreaking, ribbon cutting, and other events; and
• Preparing industry or company presentations and industry award applications.

Minimum Qualifications

Education: Undergraduate degree (BA or BS)

Experience: Exposure to financial and real estate concepts through 2+ years of relevant work experience in project management, policy, design, or financial analysis.  Master’s degree in related field (real estate, busi­ness, or planning) may substitute.  

Qualifications, Abilities and Skills:  

• Some real estate development or project management experience;
• Some knowledge of affordable housing programs;
• Demonstrated success prioritizing and managing multiple tasks and projects;
• Financial and/or quantitative aptitude;
• Ability to effectively communicate (in writing and in conversation) to team members, senior manage­ment, and investors;
• Familiarity with (or proficiency in) a second language spoken by many of our residents is desirable but not required (for example, Spanish or Mandarin); and
• Proficiency in Microsoft Excel, PowerPoint and Word.

Travel requirements:  Some travel will be required, as our portfolio includes assets throughout New England and the Mid-Atlantic.

Beacon Core Competencies required for all positions:

Teamwork, Integrity/Ethics, Dependability, Customer Focus, Adaptability/Flexibility

Beacon Project Associate Job Competencies:

Job Knowledge, Quality, Problem Solving/Analysis, Interpersonal Skills, Personal Organization, Productivity