Development Associate

Development Associate
Boston, MA  -  Buffalo, NY  -  New York City, NY  -  Pittsburgh, PA

Beacon Communities LLC is a mission-driven for-profit company that develops, owns, and manages affordable and mixed income housing.  We own and manage approximately 18,000 apartments across the northeast and have a proud fifty-year history of building and managing award-winning residential communities that serve a diverse cross-section of society and make enduring contributions to the cities and towns where they are located.  We are actively developing in Massachusetts, Connecticut, New York, Pennsylvania, Maryland, Ohio, and Virginia.  These developments include, among other things, the preservation and renovation of existing affordable housing, the redevelopment of distressed public housing, the adaptive reuse of historic buildings into mixed-income housing, and the new construction of Passive House certified apartment buildings for low income households.

The Development Associate will support Development Directors on development projects at various stages of development. Tasks include, but are not limited to assisting in:

(1) assessing and acquiring potential development sites and/or properties; 

(2) budgeting and financial analysis including pro-forma development and cash flow forecasts; 

(3) securing debt and equity financing including completing financing applications and supporting financing closings; 

(4) coordinating with development team members; 

(5) facilitating the permitting and construction/renovation process; 

(6) producing external communications and materials and planning events and 

(7) overall assistant project management.

FLSA Status:    Exempt
Location:    The individual in this role will be expected to regularly work on-site at any one of Beacon's Development Offices in: 

• Boston, MA (2 Center Plaza, Suite 600, Boston, MA)
• Pittsburgh, PA (429 Fourth Ave, Pittsburgh, PA)
• New York City, NY (115 Broadway, 5th Floor, New York, NY)
• Buffalo, NY (505 Ellicott Street, Suite 44, Buffalo, NY)

Essential Functions of the Position

The Development Associate, working in conjunction with senior staff, will be responsible for assisting Project Directors in the following areas:

• Identifying and researching potential sites for development and/or existing residential properties for acquisition;
• Conducting project feasibility studies, sensitivity analysis, and residual land value analysis;
• Coordinating development team members and consultants and negotiating/coordinating contracts with vendors and contractors;
• Developing and maintaining development and construction budgets, including working with design team to develop an appropriate scope of work;
• Researching financing opportunities and complete One-Stop and/or other financing applications;
• Coordinating with lenders, allocating agencies, syndicators, and equity joint-venture partners to secure necessary funding.  Coordinate with lenders and equity joint-venture partners during their due diligence, including providing necessary documentation as requested;
• Obtaining permits, including zoning and environmental approvals;
• Coordinating closing agenda items to ensure the project’s financing closes on schedule;
• Provide day-to-day project management support from project planning and financial structuring through construction completion and project close-out;
• Managing project budgets including invoice processing, requisition submittals, accounting systems, and schedule;
• Creating and maintaining detailed summaries, document files, reference materials, and other resources for individual projects and for the development team to remain organized;
• Planning and coordinating groundbreaking, ribbon cutting, and other events;
• Preparing industry or company presentations and industry award applications; and
• Providing general support to other members of the development team.

Minimum Qualifications

Education:  

• Undergraduate degree (BA or BS),

Experience:

• Exposure to financial and real estate concepts through 2+ years of relevant work experience in project management, policy, design, or financial analysis. Master’s degree in related field (real estate, business, or planning) may substitute.”

Qualifications, Abilities and Skills:   

• Some knowledge of real estate development or project-management experience;
• Some knowledge of affordable housing programs;
• Goal-oriented and able to prioritize/manage multiple tasks and projects;
• Financial and/or quantitative aptitude;
• Ability to effectively communicate (in writing and in conversation) to team members, senior management, and investors;
• Proficiency in Microsoft Excel, PowerPoint and Word.

Travel requirements:

• Some travel will be required, as our portfolio consists of assets throughout New England and the Mid-Atlantic.
   

Beacon Core Competencies required for all positions:

• Teamwork, Integrity/Ethics, Dependability, Customer Focus, Adaptability/Flexibility

Beacon Senior Project Associate Job Competencies: 

• Job Knowledge, Quality, Problem Solving/Analysis, Interpersonal Skills, Personal Organization, Productivity

Compensation:  $80,000.00 - $100,000.00 annually
Actual compensation is influenced by a variety of factors including but not limited to skills, experience, qualifications, and geographic location. 

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Benefits Overview

At the core of Beacon Communities is the talent on our teams, and we are committed to taking care of our team members so they can deliver great experiences to our residents. That is why we are proud to provide competitive compensation and comprehensive benefits that support a healthy life for you and your family when you join our team.

As a regular, full time employee at Beacon you can expect:

• Health & Wellness Benefits. We offer plans for quality medical, dental, and vision coverage to all employees regularly scheduled to work a minimum of 24 hours or more per week. HSA/FSA options are also available.
• Work-Life Balance. On top of offering 13 paid holidays per year, we have an attractive paid time off policy that includes vacation days, personal days, sick time, wellness days, summer flex time, volunteer days and early close Fridays.
• Retirement planning. We offer a 401k program with a company match.
• 100% Company-Paid Life Insurance.With affordable options to elect voluntary life, critical illness, hospital care or accidental injury coverage.
• Access to an Employee Assistance Program (EAP),Childcare & Eldercare Support, Career Development and Advancement Opportunities… and more!

Company Overview

Founded in 2004, Beacon Communities LLC is a privately-owned real estate firm that develops, acquires, invests in, and manages a wide range of multifamily housing. Beacon currently owns and manages approximately 150 properties including affordable housing, market rate housing, and mixed income-housing. Its developments range from new construction, to historic adaptive reuse, to the renovation of existing housing. 

At Beacon, we strive to make a difference in our residents’ lives. We build outstanding communities that make enduring contributions to the vitality of our cities and towns. We create communities that serve a diverse cross section of our society. Our communities are healthy and vibrant. Why? Because they are planned with care, consideration, and compassion.

Beacon Communities LLC is an Equal Opportunity Employer that seeks a diverse pool of candidates. We are committed to a policy of equal employment opportunity without regard to race, color, ancestry, national origin, religion, disability, gender, gender identity, sexual orientation, age, veteran status or other protected class. All qualified applicants are encouraged to apply. Beacon Communities LLC participates in the E-Verify program.