Development Associate

The Development Associate supports the Development Manager and broader SRM Development team by assisting with site acquisition, due diligence, financial modeling, budgeting, consultant coordination, and project management. This role also contributes to JV investor relations, construction loans, and the seamless transition of projects from development into operations. Strong organizational, analytical, and communication skills are essential for success.

Job Duties & Responsibilities

Market & Site Analysis

• Analyze demographic, economic, and competitive data to inform site acquisition and overall market feasibility studies.
• Support the Acquisitions team in sourcing and evaluating potential land and building opportunities.

Budgeting & Financial Modeling

• Assist in assembling and maintaining project budgets, including soft costs and consultant fees, and contribute to cost control reviews (CCRs).
• Prepare and update pro forma financial models with market comparables to support underwriting by the Project Finance Team and Managing Principals.
• Generate monthly cash flow and budget‐vs‐actual reports for internal teams and external clients.

Consultant & Meeting Coordination

• Schedule, attend, and record minutes for development and Owner–Architect–Contractor (OAC) meetings; distribute follow‐up actions as requested.
• Manage document control and coordinate with development consultants to ensure adherence to scope, schedule, and budget.

Due Diligence & Document Management

• Support acquisition due diligence by gathering and organizing technical reports, title work, zoning and land‐use documentation, and environmental assessments.
• Compile, archive, and maintain both digital and hard copy project files in compliance with SRM standards.

Investor Relations, Construction Loan & Funding Applications

• Assist Development and Investor Relations teams with preparation of equity documents, contracts, and investor communications.
• Assist in managing the construction loan closing process, coordinating with legal, finance, and lending institutions.

Construction Management & Project Close‑Out Support

• Provide development related oversight, coordination and reporting during construction management phase.
• Support project transition to Asset Management/property management by assembling close‐out documentation and ensuring continuity of the business plan.

Reporting & Communication

• Prepare concise internal and external reports, presentations, and data summaries.
• Provide regular updates on project status, budget, and schedule to Development Manager and project stakeholders.

Special Projects & Team Collaboration

• May lead or support special development initiatives and team‐wide process improvements.
• Collaborate with SRM teammates across Acquisitions, Finance, Construction, and Asset Management to uphold best practices.

Required Skills & Experience

• Bachelor’s degree in Real Estate, Business, Finance, Urban Planning, or a related field.
• 2–4 years of experience in real estate development, project management, or a related field.
• Strong analytical and financial skills, including proficiency in Excel for financial modeling, budgeting, and reporting.
• Excellent organizational and project coordination skills with the ability to manage multiple priorities and deadlines.
• Strong verbal and written communication skills with the ability to collaborate effectively with internal teams and external partners.
• Proficiency in Microsoft Office Suite and general document management systems.
• Strong problem-solving skills and the ability to adapt to evolving project needs.

Preferred Skills & Experience

• Experience supporting mixed-use, multifamily, commercial, or affordable housing development projects.
• Familiarity with development management software.
• Exposure to equity funding sourcing, construction loan closing, and JV investor relations.

Physical Requirements: This position is an office-based role that will require frequent sitting and computer use.

Travel: 0-10%

The annual salary range for this position in the Greater Seattle area is $90,000 - $120,000, depending on experience. SRM offers a comprehensive benefits package that includes medical, dental, and vision coverage, paid time off, a retirement savings plan, and professional development opportunities.