Senior Development Associate at Knoxville's Community Development Corporation (KCDC)

Knoxville, Tennessee, United States -

Full Time

Start Date

Immediate

Expiry Date

13 Jan, 26

Salary

0.0

Posted On

15 Oct, 25

Experience

5 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Financial Analysis, Real Estate Development, Construction Management, Funding Sources, Market Data Analysis, Regulatory Guidance, Environmental Reports, Zoning Regulations, Communication Skills, Problem Solving, Project Management, Microsoft Office, Construction Plans Review, Procore Software, Affordable Housing Development, Stakeholder Engagement

Industry

Individual and Family Services

Description

Description The Senior Development Associate works on all aspects of both single- and multi-family real estate development from concept design through lease-up while helping to further Knoxville’s Community Development Corporation’s (KCDC’s) mission to provide the highest quality, financially sustainable, affordable housing in Knoxville. This position works closely with the Director of Real Estate and Development to perform financial analyses of development opportunities, pursue funding sources, close real estate transactions, perform ownership driven design direction, review construction plans for accuracy and thoroughness, and monitor construction processes under the direction of the Director of Real Estate and Development. The Sr. Associate interfaces with governmental agencies (local, state and federal), lenders, equity partners, consultants, architects, contractors, and KCDC’s executive leadership as needed to meet specific project goals. Additionally, the Sr. Associate supports KCDC’s role as Redevelopment Agency for the City of Knoxville by providing input on and analysis of various economic development opportunities as requested from time to time by executive leadership. All activities support Knoxville’s Community Development Corporation’s mission, strategic goals, and objectives. ESSENTIAL DUTIES AND RESPONSIBILITIES The position duties and responsibilities listed below describe the general nature and scope of work. Other responsibilities, duties, and skills may be required and assigned, as needed. Perform financial analysis of development opportunities as requested, including the creation and maintenance of detailed financial models. Gather and analyze due diligence materials for potential development opportunities including market data, regulatory guidance, environmental reports, geotechnical reports, zoning regulations and entitlements. Provide assistance in securing various funding sources to fund developments, including allocations of Low Income Housing Tax Credits (LIHTC), LIHTC equity, tax-exempt bonds, conventional debt, Federal Housing Administration debt, HOME funds, state and national Housing Trust Funds, Community Development Block Grant funds, Federal Home Loan Bank Affordable Housing Program funds, and other grants and funding sources as needed and applicable. Interface with lenders, equity providers, contractors, architects, consultants, and representatives of various government agencies including HUD, the Tennessee Housing Development Agency, the City of Knoxville and Knox County, as well as other key stakeholders to advance project specific goals and needs. Monitor and report on the status of predevelopment activities for multiple projects, establishing timelines and deadlines for critical path tasks and activities related to the proposed transactions, while proactively identifying issues or problems that could otherwise adversely impact closing and construction timelines. Engage with construction processes for multiple concurrent developments, liaising with construction contractors, architects, and project consultants to ensure the timely delivery of quality projects in line with project budgets and company goals. Coordinate with internal project teams to ensure effective asset hand-off to operational staff, incorporate findings from Asset Management staff, and proactively educate internal stakeholders on projects. Actively research and grow the team’s combined knowledge surrounding the implementation of various Federal, State, and Local housing and community development programs. Identify opportunities to increase efficient, thorough internal communication with operational, administrative, and finance teams. Requirements KNOWLEDGE, SKILLS, AND ABILITIES Knowledge and understanding of finance and real estate development and the ability to perform financial analysis of residential and mixed-use developments. Knowledge of federal, state, and local development programs and funding sources. Knowledge of fundamental real estate principles and best practices surrounding contracts and real estate transactions. Proficiency with the Microsoft Office suite. Proficiency in reviewing construction plans Familiarity with Procore Construction Management Software Ability to navigate and provide value through input on all elements of the construction process from an ownership perspective, including RFI review, submittal review, PCO and Change Order review, and draw package review. Ability to analyze problems, identify solutions, and forecast consequences of proposed actions while navigating contingencies surrounding alternative courses of action as necessary to maintain project goals in the presence of uncertain results. Ability to advise on, maintain, and achieve attainable project timelines. Ability to communicate effectively, both orally and in writing, with people of varying ages, economic and educational backgrounds as well as internal and external project partners. Ability to give and accept constructive feedback. EDUCATION AND EXPERIENCE Bachelor’s degree in finance, economics, real estate development, or related field. Requires a minimum of four (4) years of experience in real estate development, construction management, or related field. Preference may be given to applicants with experience in affordable housing development. An equivalent combination of education and experience may be considered.

Responsibilities

The Senior Development Associate is responsible for financial analyses of development opportunities and monitoring construction processes. This role involves interfacing with various stakeholders to ensure project goals are met while supporting KCDC's mission for affordable housing.