Multifamily Development Associate – Fort Worth, TX
Title: Multifamily Development Associate
Compensation: Based on Experience and Qualifications
Reports to: Multifamily Partner
The Development Associate will hold a key position in the company. This individual will be responsible for assisting and managing components of projects in our multifamily/mixed-use development pipeline; from initial pursuit to the disposition of the assets for Trademark, with oversight by our development team. The person chosen will enjoy a significant amount of autonomy and be expected to live up to high personal and professional standards. The candidate should understand the financial aspects of the development process and learn the Trademark methodology.
Essential duties and responsibilities include, but are not limited to, the following:
Strategic Development & Innovation:
- Work with the development team and ensure that the development checklist and processes are followed.
- Performs a variety of organizational tasks, including but not limited to, preparation and distribution of correspondence, calendar and scheduling, and meeting coordination.
- Assist and manage each development through its various approval stages; working closely with all consultants, construction, and property management throughout this process.
- Establish and maintain community, political, and vendor relationships.
- Work with the development team to write reports to internal committees, investors, lenders, and partners.
- Management of the entitlement process (permitting, zoning, etc.), including responsibility for obtaining permits necessary to start a project on time.
- Interface with marketing, contractors, consultants, City/County officials, and other governmental entities.
- Conduct design review meetings with all design consultants.
- Manage the multifamily schedule.
- Conduct due diligence in the form of data gathering and interpreting market information.
- Analyze and recommend value engineering opportunities.
- Finalize site and building design and pricing/sub-bids.
- Refine development budgets, schedules, and market assumptions for the financial modeling.
- Site planning for yield analysis.
- Review and approve monthly invoices from consultants and vendors.
- Assist in obtaining tax abatements and other available incentives.
- Negotiate easements and other on and off-site issues.
- Underwrite development opportunities.
- Assist and coordinate recertification of surveys, geotechnical reports, and environmental reports, as required. Develop relationships with Lender inspectors.
- Track and complete post-closing issues as required.
- Work with the development team to maintain project proformas with a minimum of monthly updates to project assumptions, strategies, and both actual and re-forecast spending.
- Assist in the Construction process, start to finish.
- Finalize pricing/ bids into the schedule of values as the basis for contract amount.
- Attend weekly job meetings and monitor job progress.
- Maintain City relationships through the construction process.
- Assist and facilitate owner decisions promptly.
- Negotiate utility connections, relocations, and costs.
- Review and approve sub-contractor buy-out recommendations.
- Review and process monthly draw, forecast, and contractor pay applications.
- Update the Development Cost Summary monthly.
- Conduct post-construction lesson learned discussion.
- Produce monthly variance and cost reports, approve updates and then ensure they are loaded into the system.
- Assist in the project handover – collaborate closely with Asset Management and Property Management to ensure a smooth and seamless transition of the project to an operating occupied asset including the development of a detailed commissioning plan and responsibility matrix.
- Walk the construction site on a regular basis, attend Owner-Architect-Contractor (OAC) meetings, and assist in clarifications and change orders from the job site in conjunction with the Multifamily Partner.
- Bachelor’s Degree required; specifically, in Construction Management, Finance, Engineering, Real Estate Development, or a related design/planning field with appropriate experience. MBA or equivalent experience preferred.
- Minimum of 2 years of experience in the development of multifamily/mixed-use projects.
- Travel to development projects is required.
- This individual should be familiar with the development, construction, and lease-up processes, and have a working knowledge of the financial analysis side of the real estate business.
- Strong analytical and problem-solving skills with the ability to collect, manage, and analyze information.
- Versatility; a willingness to do what is required for the success of the project.
- Characterized as a self-starter, detail-oriented, organized, and disciplined.
At Trademark, we recognize that our strength is directly linked to the quality and skills of our diverse associates. We approach our business as learners and not knowers, and we equip our employees with the tools and training needed to succeed professionally. Trademark provides a highly collaborative work environment that encourages interaction and learning across teams and senior leadership.
Trademark Property Co is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status, medical condition or any other characteristic protected by law.