40 Court Street
About POAH: Preservation of Affordable Housing, Inc., or POAH, is a non-profit developer committed to preserving and developing affordable & mixed-income rental housing around the country. Based in Boston, with branch offices in Chicago & Washington, DC., POAH currently owns and manages approximately 10,000 affordable rental homes for families, seniors and the working poor in 11 states and the District of Columbia.
POAH’s reach is national in scope, and its pursuit of the preservation mission is empowered by a focus on the business bottom line. Its strong reputation has resulted from a demonstrated ability to craft complex financial transactions, tackle tough multi-family projects, and close deals that preserve the affordability of ‘at risk’ properties. The organization and its leaders are at the forefront of policy and legislative discussions around housing preservation, affordable housing finance and regulatory reform.
About the Opportunity: POAH is seeking a Boston-based Development Associate to join its Real Estate Development group consisting of members with diverse interests and backgrounds. Development Associates assist Project Managers in the oversight of two or more developments simultaneously, participating in project “life” from acquisition to completion of construction and lease-up, including financial analysis, design and construction, and transfer of the completed project to the property management function. This entry level position provides an exciting opportunity participate in all phases of project execution while gaining an in depth understanding of the real estate development process. POAH fosters an environment that values individual professional growth within the framework of a supportive, team-based approach. Some of the Development Associate’s specific and essential tasks may include:
- Gathering the appropriate materials for financing applications, and organizing the submission process for said applications.
- Managing and updating development proformas.
- Assembling the due diligence required for construction and permanent loan conversions and managing the associated closing checklists.
- Collaborating with all appropriate parties, be they lawyers, lenders, or investors, to ensure the success of a project.
- Submitting monthly funding requisitions to lenders while a project is in construction in a timely and efficient manner, and monitoring the actual and anticipated project sources and uses over the construction period.
- Tracking and flagging issues and follow-up actions of each deal in development, and working with Project Managers to remain informed and up-to-date.
Experience & Knowledge
Candidates for this position should possess a Bachelor’s Degree, preferably in economics, business, mathematics, urban planning or another related field. Real estate development experience is preferred, but not required. Job on-boarding and training will be provided.
Candidates should have demonstrated ability to:
- Be a part of a team with diverse interests and backgrounds;
- Communicate effectively in person and in writing with colleagues and external partners representing a wide range of disciplines and backgrounds (e.g. financial, legal, regulatory, design/construction, and property residents);
- Perform spreadsheet analyses;
- Manage and effectively prioritize simultaneous and competing activities and demands;
- Remain organized, be detail-oriented and meet deadlines, and
- Take initiative and exemplify motivation to work towards POAH’s prescribed mission.
- Ability to travel
- Ability to attend periodic evening meetings
Salaries are competitive and commensurate with experience. Benefits include health, dental, life and disability insurance and 401k with company match.
POAH is an Equal Opportunity Employer committed to diversity in the workforce.
Click here to apply: http://tiny.cc/Dev0919
Applicants must include cover letter and resume.