Development Associate, Acquisitions & Development

ITEX Property Management LLC•Houston, TX

1h•Onsite

About The Position

Founded in 2002, ITEX Group is a privately held real estate investment, construction, and property management firm. We construct, own, and operate apartment communities across Texas, Louisiana, Alabama, and Colorado, with a focus on providing safe, quality, and well-maintained homes for our residents. Our team is the foundation of our success, and we are committed to building a workplace where people grow, contribute, and are recognized for their hard work. The Development Associate plays a vital role in identifying, vetting, and progressing viable deal opportunities within ITEX’s development and acquisition pipeline. This position focuses on site selection, market research, policy compliance, initial due diligence, and financial administration—ensuring proposed deals meet strict qualification criteria, budget expectations, and timeline milestones through predevelopment and closing. This role requires a strong understanding of site-selection mechanics, key target markets, state housing policies—especially the Texas Department of Housing and Community Affairs (TDHCA) Qualified Allocation Plan (QAP) as well as other states—and initial feasibility. The ideal candidate will utilize mapping and market software, evaluate competitive scoring sites, maintain development budgets, process check requests, and manage due diligence materials for lenders, investors, and internal committees.

Requirements

Bachelor's degree in Real Estate, Finance, Business Administration, Urban Planning, or a related field.
1-3 years of experience in real estate development, acquisitions, project coordination, or market analysis.
Proficiency with mapping, market research, and site-selection platforms (e.g., CoStar, Google Earth, municipality-specific web tools).
Strong computer proficiency, including advanced skills in Microsoft Office (Excel, Word, PowerPoint).
Familiarity or willingness to quickly gain expertise with state agency’s QAPs and 4% and 9% Low-Income Housing Tax Credit (LIHTC) framework.
Excellent organizational, communication, and problem-solving skills.

Nice To Haves

Direct familiarity with TDHCA rules, QAP scoring mechanisms, and Texas affordable housing markets.
Prior experience managing real estate due diligence (floodplain verification, crime statistics, zoning verification, environmental reports, title, and survey reviews).
Experience handling project budgets, accounts, check requests, and vendor invoices.
Familiarity with creating investment memos, reviewing operating statements, or utilizing project management tools such as Microsoft Project or Procore.
Experience with Argus and/or Yardi is a plus.

Responsibilities

Site Selection & Mapping Analysis: Utilize mapping tools, market research platforms, and municipal databases to locate, evaluate, and rank competitive scoring sites in target markets.
QAP Compliance & Policy Review: Read, abstract, and apply a strong working knowledge of the state agency’s QAP and other program rules to evaluate sites for scoring advantages, threshold requirements, and potential disqualifiers.
Initial Due Diligence & Risk Screening: Conduct preliminary site evaluations to verify environmental, municipal, and geographical feasibility—ensuring prospective deals do not have prohibitive site constraints.
Target Market Research: Research key target markets to evaluate competitive properties, analyze market supply and demand trends, and identify expansion opportunities aligned with ITEX’s goals.
Project Administration & Budgeting: Create and maintain project development budgets, track project expenses, review and process check requests, and manage vendor/consultant invoicing.
Predevelopment Support: Assist with predevelopment workflows, including gathering due diligence documents, tracking project timelines, and supporting the application filings.