Development Associate At Mill Creek Residential we are committed to building a diverse, equitable and inclusive workplace where our associates can grow and bring their whole selves to work. This starts with our recruiting and hiring process. We want you to know that we encourage you to apply if this job excites you, even if you don't meet 100% of the requirements. You may just be the right candidate for this role, or another role and make your mark at Mill Creek. The Development Associate's primary responsibility is to provide support to the Managing Director and be an integral part of the development team in assisting with the pursuit of new development, market research, site acquisition, due diligence, managing the design process, financing, and zoning & entitlements. This position is also responsible for each phase of the construction process and coordinating site specifications.
Essential Duties & Responsibilities:- Assist in the pursuit of new development, including market analysis, financial feasibility, negotiating land contracts, and preliminary due diligence.
- Create and maintain pro formas for each pursuit, pipeline, and active development including market information, operating expense data, and estimated hard and soft costs.
- Coordinate development activities with architect, engineer, landscape architects, interior designers, property managers, project managers, and the internal Mill Creek team.
- Coordinate financing activities with the Finance team, including the creation of Offering Memoranda. Financing responsibilities may include assisting the Managing Director and Finance team in negotiating and implementing Joint Venture equity agreements and loan documentation.
- Draft and assemble deal memos to the Mill Creek Investment Committee for each pipeline opportunity, at select project milestones.
- Manage the construction draw process, develop monthly project reports, and review each phase of the construction process.
- Manage third party inspections and bond releases for projects nearing completion.
- Manage development meetings, including, but not limited to, design consultant coordination, contract negotiations, and coordination of construction.
- Conduct site visits for various recurring meetings and general construction walks.
- Ensure strict compliance with plans and communicates to the Managing Director and teammates any critical issues.
- Participate in Company-provided training such as fair housing, safety, non-discrimination, and harassment prevention.
- Comply with all Company National Standards, applicable health and safety rules and regulations, as well as applicable local, state, and federal laws.
- Education and/or Experience
- Bachelor's degree required. Degree in Business, Finance, Real Estate or other related field is preferred for this position.
- Minimum of three to five years in real estate, development or finance.
- Direct multifamily development experience and knowledge of the DC Metro market is a plus.
Skills/Specialized Knowledge:- Possess an advanced knowledge of Microsoft Word, Excel and PowerPoint.
- Excellent interpersonal skills; ability to relate to others.
- Profession verbal and written communication skills.
- Strong organization and time-management skills.
- Ability to perform advanced mathematical and accounting functions.
- Must be proactive, self-directed and highly motivated.
- Must have strong leadership ability.
- Ability to conduct presentations or speak in public to large groups of people.
- About the Benefits of joining the Mill Creek Team
- Competitive compensation
- Comprehensive medical, dental and vision
- Employer sponsored short and long term disability, Life and ADD insurance 401k with employer matching
- Paid time off benefits: Vacation, Sick, Holidays
Mill Creek is an Equal Opportunity Employer
