Economic Development Jobs in Tennessee (NOW HIRING)

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. All activities must support Knoxville’s Community Development Corporation’s mission, strategic goals, and objectives.

ESSENTIAL DUTIES AND RESPONSIBILITIES

The position duties and responsibilities listed below describe the general nature and scope of work. Other responsibilities, duties, and skills may be required and assigned, as needed.

• 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.
• Performs other related work as necessary.

KNOWLEDGE, SKILLS, AND ABILITIES

• 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.

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

• Requires a valid driver’s license and the ability to be insurable under the Authority’s automobile insurance plan at the standard rate.

PHYSICAL DEMANDS

• The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
• To perform this job successfully, the employee is frequently required to remain in a stationary position. Daily movements include sitting; standing; reaching and grasping; operating computers and other office equipment; moving about the office; and attending onsite and offsite meetings. The employee must be able to exchange information in person, in writing, and via telephone. The employee must occasionally transport up to 25 pounds.