Development Associate (Real Estate)

DRW•Chicago, IL

3d•$85,000 - $120,000

About The Position

Convexity Properties, a DRW company, is a full-service real estate firm, investing in and developing unique retail, residential, commercial and mixed-use properties. Our team seeks challenging projects that will benefit from our agility, high standards and expertise as we work to uncover new purposes and unlock additional value. As a Development Associate, you’ll assist in coordinating complex real estate development projects in the commercial, residential and hospitality sectors. You’ll be involved in organizing due diligence, design and construction phases throughout the entire lifecycle of a project, including budget planning, vendor management, cost management and change management. The opportunity to join the Convexity Properties team is unique because: We have no outside investors or third-party capital. We are long-term owners and investors of real estate. We aren’t beholden to timing mandates to place capital or sell assets. Decisions are made exclusively on market fundamentals. We operate in a fast-paced environment, and we move quickly. Our diverse experience, particularly with projects that have predevelopment and entitlement complexity, coupled with our access to capital, allow us to move quickly and achieve superior risk-adjusted returns. We have the flexibility to take calculated risks, such as acquiring sites without entitlements in-place. We are relationship oriented. Convexity has built long-term relationships with its partners and consultants. We can leverage these relationships to act quickly when needed and they create opportunities for personal growth and development.

Requirements

3-5 years of directly related development and project management experience in the real estate industry, preferably with mixed use commercial, hospitality or residential projects
Previous experience working on urban projects
Strong initiative and motivation to drive projects to completion
Vendor management experience
High level of proficiency with Microsoft Office suite, in particular MS Project and Excel
Strong problem-solving and issue resolution abilities
Excellent written and verbal communication skills
Strong organizational and time management skills and are highly detail oriented
Bachelor’s degree in construction management, architecture, engineering, urban planning or similar area of study
Ability to travel within the U.S. approximately 40% of the time (2-3 days/week)

Nice To Haves

Experience developing project proformas and financial statements
Experience working on luxury high-rise residential projects

Responsibilities

Track and organize a wide variety of project tasks, schedules and deliverables from design through post-construction, with an emphasis on the core construction phases
Manage the work of external service providers identified through competitive RFP selection process (architects, engineers, general contractors, FF&E procurement agents, designers, specialty consultants, etc.)
Assist in contract negotiations with external service providers, manage financial and scope changes to negotiated terms, and ensure compliance with project deliverables and work standards
Liaise with municipal authorities to understand local requirements and gain necessary approvals and permits
Assist in preparation of project budgets, prepare monthly draw requests and provide regular reporting on project financials
Help team to manage project schedule to meet weekly, monthly and overall project milestones
Provide regular project updates to internal and external project resources and senior management; identify issues and develop contingency plans as needed
Interact with acquisitions team to assist in determining viability of prospective projects
Assist in the review of design and bid documents to ensure scope of work is aligned with project financial objectives and requirements
Assist in managing the project close-out process to a successful completion
Travel to project sites as needed