Development Associate

Development Associate

At Madhouse, our people are our greatest differentiator and competitive advantage. We are all united in delivering the best communities possible for our residents. We're proud to be a close-knit team that values integrity, teamwork, and growth. We offer a flexible, fun, and collaborative work environment. As a member of the Real Estate team, the Development Associate will report to the Vice President of Development and Development Manager(s).

• Assist in the data collection required to locate and evaluate properties for acquisition, rehabilitation, or development of both affordable and market-rate opportunities.
• Provide administrative support in the negotiation of land purchases including drafting Letters of Intent and Earnest Money Contracts.
• Assist with the drafting of preliminary budgets and timelines for the various stages of acquisition and development.
• Assist in coordinating with project consultants during the due diligence process including architects, engineers, appraisers, market analysts, surveyors, title companies, etc. as necessary.
• Assist with the preliminary review of due diligence materials related to each project being developed.
• Provide administrative support related to the preparation of housing tax credit applications, become familiar with the state's Qualified Allocation Plan and the corresponding timelines and deadlines associated with the tax credit application process.
• Provide administrative support in the oversight of the construction process; including assisting with the preparation of monthly draw expenditure requests and the coordination between the contractor, prime subcontractor and accounting team to ensure the orderly and efficient monthly project funding.
• Provide administrative support on public presentations and prepare corresponding marketing materials in markets being considered for development.
• Provide administrative support in responding to lenders and syndicators on project related due diligence requirements throughout the development process.
• Assist in financial underwriting for potential transactions. Perform market analysis for potential transactions.
• Provide administrative support t in ensuring that all state required reporting deadlines are met by updating team calendars with pending deadlines.
• Provide administrative assistance to the asset management team by inputting monthly and annual operating figures.
• Provide administrative support with the preliminary drafts of 10% tests, Carryover Allocation packages, cost certifications, 8609's and certified audits.

• Engages in frequent verbal and written communication with internal and external parties which may include, lenders or equity investors and their representatives, outside counsel, agencies, special servicers, and potential investors.
• Ability to understand, and to seek explanation of, complex written regulations from various government agencies.
• Strong technical and analytical skills, as well as an understanding of accounting and financial principles.
• Ability to work with large databases and datasets for extraction and conversion into useful business information.
• Organizational skills with the ability to manage multiple projects simultaneously.
• Ability to cope with deadline pressures.
• Highly self-motivated with the ability to work effectively in a fast-paced environment.
• Leadership and excellent verbal, written, and interpersonal communication skills are required to effectively manage complex assets and relationships.
• Ability to write memos, reports, presentations, and business correspondence.
• Ability to interact with all levels of management, work within a casual team environment, and work independently.
• General understanding of real estate practices.
• Ability to solve unstructured problems.
• Understands the value of team approach and effectively uses teamwork to improve results.
• Proactive, takes initiative, thinks creatively, and drives projects to completion.

• Bachelor's Degree in Business Administration, Accounting, Finance, Economics, Real Estate Development, or related field work experience
• Excellent…