What are the responsibilities and job description for the Development Associate position at Lotus Company?
Background
Lotus Company is a venture capital and real estate development company with close to $1B of projects in the pipeline. We are seeking to grow our development team with the addition of a Development Associate (“DA”) who has experience in project management, permitting and entitlements, working with budgets and vendors, and participating in a development team.
The ideal candidate will have experience with the multifamily development process and have a passion for creating great places and actively contributing to the development of quality assets.
Job Description
The Development Associate will be focused on multifamily projects, both market rate and LIHTC, currently in the pre-development process. The DA will be responsible for overseeing the day-to-day development activities of their assigned projects including execution of due diligence, entitlements, design, permitting, partner reporting, oversight of construction management and administration, and project transition to asset management operations. They will work closely with various stakeholders, including architects, contractors, and government agencies, to ensure the successful completion of real estate ventures.
Responsibilities
The Development Associate’s responsibilities shall include assisting with the following:
- Coordinating the Permitting and Entitlement process
- Overseeing the Construction process and associated documentation
- Creating Pro formas, budget management, and partner reporting
- Coordinating FF&E and interior selection, procurement, and installation
- Reviewing and editing contracts, as directed by senior management
- Project feasibility, market, and value analysis
- Implementation of project vision
- Team coordination
- Interfacing with public entities and regulatory agencies
10. Coordination of project close out and transition to operations
Required Experience
- Minimum of two years related work experience as an analyst, or development associate in the multi-family industry is preferred
- Experience creating and adjusting development pro formas
- Understanding of working components of contracts, with the ability to negotiate elements
- Strong working knowledge of Microsoft Office products (Word, Excel, PowerPoint, Outlook, etc.)
- Experience in interfacing with general contractors, senior management, architects, engineers, city planning staff, and regulatory agencies
- Must be proactive, well organized, possess an attention to detail, project and goal focused, results oriented, accountable, and collaborative/team oriented
- Strong organization and presentation skills required
- Must be willing to travel to job sites in Utah and the Intermountain West as well as other locations as duties require
Required Education
Bachelor’s degree in business, finance, or real estate.
Compensation and Benefits
Job Type: Full-Time
Pay: Up to $90k DOE, with discretionary bonus
Location: 215 S. State St., Floor 13, Salt Lake City, UT
Benefits:
• Health, dental, and vision insurance
• Paid Time off
• Gas and vehicle mileage reimbursement for job-related travel
• Benefits Condition: 30-day waiting period
Salary : $85,000 - $90,000
