Responsibilities

Related California is seeking a Development Associate for its Affordable Housing division. The successful candidate will be responsible for supporting the team in all aspects of their projects including: new business, entitlements, due diligence, design, contracting, financial analysis and modeling, financial applications, deal memo preparation, legal oversight, budgeting, construction, and lease-up. This position is a key support position that will provide the candidate with the opportunity for professional growth and exposure to all aspects of the affordable housing development process. This position will be based in Irvine, California.

Provide support to Vice Presidents and Project Managers throughout the development process, with a strong emphasis on the affordable housing tax credit application process.

• Assist with all aspects of the development of affordable multifamily projects: financing, entitlement/government approvals, consultant coordination, public relations, design, leasing/marketing, and construction oversight.
• Perform financial analysis and due diligence for new development opportunities, assisting in underwriting and cash flow analysis, and responding to Requests for Qualifications or Proposals.
• Assist in preparing business plans, including deal memorandums, annual operating plans, financial forecasts and strategic plans.
• Compile detailed financing applications for various municipal funding programs such as low-income housing tax credits and tax-exempt bonds.
• Assist with the closing process for real estate transactions including acquisition, construction loan closing and conversion.
• Assist in coordinating loan draws, forecasting project budgets and cash flows, and managing project deliverables.
• Research and analyses: benchmark economic activity in target markets by tracking rents, sales per square foot, operating costs, competitive supply and economic expansion activity.
• Minimize exposure and risk on various projects.
• Handle matters relating to time sensitive material and meet multiple deadlines.
• Effectively communicate relevant project information to senior project team members.
  
  
  

Compensation

• $75,000 - $100,000 / year
• Annual performance based bonus
  
  
  

Qualifications

• Minimum Bachelor’s Degree; preferably in real estate, business administration, public policy and planning.
• 2+ years of work experience in affordable housing or a similar field; experience, knowledge and understanding of real estate development a plus.
• Strong quantitative and MS Excel, Word, PowerPoint, Project skills are a prerequisite. Experience in Adobe Suite a plus.
• Strong project management skills, results-driven, with ability to manage multiple deadlines.
• Complex thinker of high intelligence and demonstrates strong intellectual curiosity.
• Keen attention to detail.
• High energy; possessed with drive.
• Suitability to an entrepreneurial culture that places a premium on performance.
• Must be a team player, but also a self-starter that can perform with limited direction.
• Excellent written and verbal and communication skills.
  
  
  

Related values diversity in backgrounds and experiences. We are proud to be an equal opportunity employer and are deliberate about the team and culture we are building. We aim to ensure competitive total compensation that is commensurate with experience, workplace geography, and market standards.

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Overview

Firm Overview

Related California, the West Coast affiliate of Related Companies, is a fully integrated real estate firm that develops multifamily residential and mixed-use properties in California.

Since 1989, Related California has undertaken a range of transformational developments from best in class luxury high rise residential properties to the redevelopment of obsolete public housing, spanning a broad spectrum of urban infill, affordable, mixed-income and market rate multi-family developments. The company has a development portfolio of more than 19,500 residential units completed or under construction, and more than 4,200 affordable and 7,300 market rate units in pre-development.

Related California has a long history of community partnership, having collaborated with more than 40 municipalities and over 30 non-profit organizations throughout California, and has successfully developed and managed a broad range of property types throughout Alameda, Contra Costa, Los Angeles, Orange, Sacramento, San Bernardino, San Diego, San Francisco and Santa Clara counties. Related California has developed more than $9.3 billion in assets and has a track record of consistently developing communities that exceed industry benchmarks in design, construction, sustainability and property management. For more information about Related California, visit www.relatedcalifornia.com.

Company Overview

Formed in 1972, Related is the most prominent privately-owned real estate firm in the United States. Headquartered in New York City, the company has offices and major developments across the world. Related owns and manages a premier portfolio of assets valued at over $60 billion, including the 28-acre Hudson Yards neighborhood on Manhattan’s West Side.

Related believes in investing in its talent and cultivates a positive, team-oriented environment where every voice is valued. Employees are encouraged to boldly take on new challenges, transcend the status quo, and demonstrate strong entrepreneurial spirit. In its relentless commitment to excellence, Related works to foster an innovative approach in its team members so that they can positively impact the communities in which they conduct business. Learn more about Related at www.related.com.