Senior Development Analyst

DEVCO MANAGEMENT COMPANY LLC•Saint Louis Park, MN

1d•$90,000 - $120,000•Remote

About The Position

DevCo Residential Group is hiring for a Full-Time Senior Development Analyst OR Development Associate to join their collaborative Midwest team. This role is remotely based but centrally located in Minneapolis, MN, with the option for the hire to be physically located in the internal Midwest geography (the states of Indiana, Ohio, Wisconsin, Missouri, or Kansas). A satellite office in Minneapolis, MN is available for local individuals who prefer to work there. The Senior Development Analyst/Development Associate will be responsible for supporting the region’s Development Manager and Development Associate(s) on new project underwriting, due diligence, design and entitlement, financing, construction draw management, and lease up support related tasks. DevCo Residential is a family of companies including DevCo Preservation (Development), DevCo US Construction, and HNN Communities. It is a privately held real estate investment company with almost 40 years of experience, founded in 1994. The company and its affiliates develop, own, and manage over 14,000 affordable and market rate apartment units throughout the United States. Headquartered in Bellevue, Washington, DevCo is one of the largest providers of affordable housing in Washington State. Together, they professionally develop, build and own multi-family affordable apartment communities, prioritizing quality. DevCo Residential Group’s mission is to develop, construct and manage high-quality multifamily housing that provides stability, fosters growth and delivers long-term value to residents and stakeholders. Their vision is to be a leading developer, builder and manager of quality multifamily housing throughout the western US. Their values include Quality, Commitment, Teamwork, and Integrity.

Requirements

Outstanding organizational and administrative skills, including ability to draft agendas, track action items, and manage complex schedules and checklists.
Excellent analytical, interpersonal, writing, and research skills.
Self-motivated, resourceful and proactive.
Ability to work independently, effectively prioritize, and multi-task under pressure.
Understanding of the tax credit, real estate, and construction industry.
Experience in building and manipulating complex financial models.
Understanding of accounting principles, financial statements, and budgets.
Strong work ethic, desire to learn and take on responsibility.
Treats people with respect; Keeps commitments; Inspires the trust of others; Works with integrity and ethically; Upholds organizational values.
Focuses on solving conflict, not blaming; Maintains confidentiality; Listens to others without interrupting; Keeps emotions under control; Remains open to others' ideas and tries new things; Handles sensitive and confidential information in a professional manner.
Works efficiently to meet deadlines.
Approaches matters objectively, utilizes creative problem-solving.
Displays willingness to make decisions; Exhibits sound and accurate judgment; Supports and explains reasoning for decisions; Includes appropriate people in decision-making process; Makes timely decisions.
Identifies and resolves problems in a timely manner; Gathers and analyzes information skillfully; Develops alternative solutions; Works well in group problem solving situations; Uses reason even when dealing with emotional topics.
Demonstrates accuracy and thoroughness; Looks for ways to improve and promote quality; Applies feedback to improve performance; Monitors own work to ensure quality.
Bachelor’s Degree in Real Estate, Finance, or related field.
Availability to travel as needed.
Proficient using MS Office Suite (Word, Excel, PowerPoint, and Outlook).
Excellent written and verbal communication skills.
Must be able to speak, read and write English in a manner sufficient to carry out duties.
Successful completion of background check and drug screen required.
Must be legally qualified to work in the U.S. meeting I-9 guidelines.

Nice To Haves

Previous real estate development, finance, or asset management experience strongly preferred.

Responsibilities

For future project opportunities, research and provide analysis on competitiveness under the applicable Qualified Allocation Plan (QAP) and other subsidy (TIF, soft loans, etc.) guidelines.
Prepare initial financial models for new developments.
Work with the Development Manager and external partners to draft internal Offering Memorandums for Investment Committee.
Create and maintain detailed project schedules utilizing internal project management systems.
Utilize online, internal and external resources to gather market research.
Work with Transaction Team and assist in due diligence by collecting, reviewing, and summarizing property reports as well as other due diligence documents.
Establish a positive working relationship with project team members.
Preparation of Request for Proposals from lenders and investors.
Maintain monthly pipeline and construction to conversion reporting.
Complete project operating, capital, and construction budget forecasting.
Preparation of tax credit, bond, and other financial, regulatory, or subsidy applications.
Support 8609 issuance process and post-closing state-agency requests (such as LURAs and compliance documents).
Assist with project loan/equity closings, conversions and equity installments.
Prepare construction draws.
Assist Preconstruction in the design and entitlements process.
Attend in-person project meetings (neighborhood meetings, public hearings, etc.).
Attend Owner, Architect, Contractor (OAC) meetings virtually.
Draft closing memorandums.
Additional duties as assigned.

Benefits

100% company paid medical benefits for employee coverage.
100% company paid dental and vision benefits for employee coverage.
Healthcare and dependent care flexible spending accounts.
Company paid life insurance, AD&D and long-term disability benefits for employee coverage.
Best-in-class voluntary insurance benefits.
Pre-tax and Roth 401(k) programs with a company match equal to 100% of the first 4% contributed by the employee.
Discretionary bonus programs.
Eligibility for a 30% housing discount consideration.
Employee assistance program (EAP) with 24/7 counseling service.
Company-sponsored industry training and certifications.
3 weeks of paid time off each year.
Up to 12 paid holidays each year.