Job Description
SUMMARY
The Real Estate Development Fellow will work with HHDC leadership on special projects involving areas of Real Estate Development, Acquisitions, Preservation and Asset Management. This is a full-time paid internship that provides a unique opportunity to gain hands-on experience in the real estate industry, mentorship from our executive staff, exposure to the intricacies of deal negotiations and property management and networking opportunities to build valuable industry connections. This role will focus on evaluating the real estate market, research, and monitoring market conditions and trends pertinent for making sound investment decisions and focus on providing asset management and consulting services to stakeholders in affordable housing. The successful candidate will work closely with leadership and may work as part of a cross-functional team to analyze and evaluate affordable housing properties, portfolios, transactions, and organizations.
ESSENTIAL JOB FUNCTIONS include the following. Other duties may be assigned.
- Assist VP of Development and VP/AVP of Acquisitions and Asset Management, in all aspects of the affordable housing development process.
- Support all development functions including market analysis, site selection, financial analysis, lender and investor due diligence, architectural and engineering design, entitlements, construction, on-going monitoring, owner sworn statement and draws.
- Assist in analyzing multifamily developments utilizing Low-Income Housing Tax Credits LIHTC and other affordable housing programs to determine project feasibility.
- Assist in land acquisition, including preparation of LOI’s and purchase contracts with legal counsel, gathering of due diligence materials and tracking of contract timelines.
- Assist in securing the financial resources necessary to undertake various transactions, including preparing applications for tax credits, soft funding resources, and responses to Requests for Qualifications/Proposals.
- Assist in the financial closing with lenders and investors by gathering, reviewing and creating necessary due diligence items.
- Assist in the preparation of materials necessary for municipal and neighborhood meetings.
- Other duties as assigned.
WORKING ENVIRONMENT
This job operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines.
Position experiences interruptions, need for frequent shifting priorities, and deadlines.
PHYSICAL DEMANDS
The physical demands are representative of those that must be met by an employee in an office setting to successfully perform the essential functions of this job: talking, hearing, walking, sitting, standing, stooping, kneeling or crouching, reaching, handling; carrying and lifting objects, using office and computer equipment (visual contact and keyboard manipulation) as well as the telephone system.
Travel required to prospective developments and for meetings in the community.
Regular, predictable attendance is an imperative job function. Evening and weekend work may be required as job duties demand.
MINIMUM QUALIFICATIONS
- Bachelor’s or master’s degree in a related field (Real Estate, Finance, or Design Disciplines such as Architecture or Urban Planning).
- Demonstrated interest in mission-driven real estate development, affordable housing, and/or community economic development.
- Strong quantitative, financial analysis and Excel modeling skills are preferred.
- Must have excellent analytical skills, be detail oriented, have good business sense, and be able to work on numerous projects concurrently and prioritize workload independently.
- Have proven effective interpersonal and customer service skills.
- Excellent communication, collaboration and presentation skills required.
- Strong proficiency in Microsoft Excel, Word, and other relevant software.
SUCCESS FACTORS
- Is ethical, responsible, and dependable and fulfills obligations.
- Is able to build relationships with peers, among leadership and across the organization.
- Exercises sound judgments in stressful situations in order to solve problems quickly and efficiently.
- Demonstrates flexibility and adaptability.
Job Tags
Full time, Contract work, Work at office, Shift work, Afternoon shift,