SUMMARY

The Real Estate Development Associate works on all aspects of multifamily 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 affordable housing in Knoxville. This position performs financial analyses of development opportunities, pursues funding sources and closes real estate transactions. The Associate interfaces with governmental agencies (local, state and federal), lenders, equity partners, consultants, architects, contractors, and KCDC’s executive leadership. The Associate supports KCDC’s role as Redevelopment Agency for the City of Knoxville by providing economic analysis to evaluate various economic development incentives, manage existing redevelopment districts and assist the City of Knoxville on various other redevelopment initiatives.

EDUCATION AND EXPERIENCE

Bachelor’s degree in finance, economics, real estate development, or related field. Requires a minimum of three (3) years of experience in real estate development, government, non-profit agency or related field. Preference may be given to applicants with experience in multi-family housing development, HUD housing programs, or low-income housing tax credits. An equivalent combination of education and experience may be considered.

CERTIFICATES, LICENSES, AND REGISTRATIONS

Tennessee driver's license and ability to be insured under the Authority’s policy.

SUPERVISORY RESPONSIBILITIES

· The Real Estate Development Associate is not a supervisor.

DUTIES:

Conducts financial analysis of development opportunities, including the creation of detailed pro-forma and financial models.

Gathers, manages, and analyzes due diligence materials for potential development opportunities including market data, environmental reports, geotechnical reports, zoning and entitlements.

Identifies and assists in securing various funding sources to complete developments, including Low Income Housing Tax Credits, tax credit equity, tax-exempt bonds, conventional debt, Federal Housing Administration debt, Agency debt, HOME Funds, Housing Trust Funds, Community Development Block Grant Funds, Affordable Housing Program Funds, and other grants and funding sources as needed. Prepares and reviews applications for such sources.

Establishes and maintains productive relationships with lenders, equity partners, lenders, real estate owners, consultants, and representatives from various government agencies including HUD, Tennessee Housing Development Agency, City of Knoxville and Knox County, as well as other key stakeholders.

Makes sound recommendations that comply with legal requirements, regulatory conditions, and governing policies.

Monitors and reports on the status of predevelopment and construction activities for multiple projects and establishing critical timelines and deadlines for tasks and activities related to the proposed transactions, and effectively identifying issues or problems that could otherwise adversely impact closing.

TO BE EFFECTIVE IN THIS ROLE YOU WILL NEED

• Knowledge and understanding of real estate finance/development and the ability to perform financial underwriting of complex multi-family and mixed-use developments.
• Knowledge of federal, state, and local development programs and funding sources.
• Knowledge of real estate principles and the laws governing contracts and real estate transactions.
• Proficient using Microsoft Office suite.
• Ability to analyze problems, identify alternative solutions, project consequences of proposed actions and implement recommendations.
• Ability to independently create efficient project timelines and manage implementation to meet the stated schedule.
• Ability to communicate effectively, both orally and in writing, with persons of diverse ages, economic and educational backgrounds.
• Ability to establish effective working relationships with internal customers, external customers, government officials, professional subcontractors, property and business owners, real estate developers, property managers, bankers, and the general public.
• Ability to work independently and as part of a team.
• Ability to give and accept constructive feedback.

BENEFITS

Ensuring you rest from work with generous paid time off benefits

• Paid vacation with a 240-hour annual roll-over
• Paid holidays and sick days

Saving you money and preparing you for retirement

• Flexible Spending Accounts for medical and dependent care expenses
• Pre-tax insurance premiums
• 8.8% company contribution to Defined Contribution Retirement Plan
• Roth Account, a post-tax retirement savings plan
• Deferred Compensation Plan (457b account), a pre-tax retirement savings plan

Taking care of you and your loved ones

• Medical, dental, vision, and life insurance options
• Long-term and short-term disability insurance
• Free Employee Assistance Program

Helping you achieve a healthy lifestyle and work/life balance

• The Healthy Track, a comprehensive wellness program
• Remote workplace options
• Flexible work hours

Supporting your growth and advancement

• Funds available for Continuing Education Credits (CEUs)
• Tuition assistance for college coursework

Apply on site: https:jobs.kcdc.org

Job Type: Full-time

Pay: $60,000.00 - $75,000.00 per year

Benefits:

• Dental insurance
• Employee assistance program
• Flexible spending account
• Health insurance
• Health savings account
• Life insurance
• Paid time off
• Retirement plan
• Vision insurance

Experience level:

• 1 year

Schedule:

• 8 hour shift
• Monday to Friday
• No weekends

Experience:

• Real Estate Development: 3 years (Required)

Ability to Relocate:

• Knoxville, TN 37917: Relocate before starting work (Required)

Work Location: In person