Senior Associate, Development (Affordable Housing)
Fully Remote Fort Lauderdale, FL Development
Job Type
Full-time
Description

Fairstead is a vertically integrated real estate company specializing in affordable and mixed-income housing. Since 2014, Fairstead has acquired and/or developed more than $4 Billion of multifamily property across the country, and today owns a portfolio of 16,500 apartments in 18 states. The company’s comprehensive platform provides hands-on expertise across all multifamily disciplines, including acquisitions, development, design and construction, energy and sustainability, property management and social services.


Fairstead’s primary mission is to provide high quality housing to all regardless of income, and to make our stakeholders feel “Right at Home.” We accomplish this through an empathetic and innovative approach, and by utilizing our interdisciplinary platform as an investor, developer, owner, and operator. Fairstead provides hands-on expertise across all multifamily disciplines, including acquisitions, development, design, construction, energy, sustainability, property management and social services.

With a long-term commitment to its residents, communities, and partners, the Fairstead team stands out by:

  • Listening to and understanding the needs of its residents, communities, partners, and stakeholders alike
  • Developing and preserving high quality affordable housing in an innovative and sustainable fashion
  • Creating a positive social and environmental impact within the properties and communities it serves

Fairstead’s Core Values

  • Empathy
  • Innovation
  • Entrepreneurship
  • Determination
  • Integrity

Position Description:


Assist the group in all aspects of affordable and mixed income housing acquisition, rehabilitation, and development (Section 8, LIHTC, etc.) in core markets across the US.

  • Make impactful contributions to analysis that will inform the firm’s investment decisions
  • Contribute on all phases of a deal and understanding of a project from sourcing through stabilization.
  • Compile due diligence information including financial, market, site, and regulatory data
  • Order and review third-party reports, including plan and cost reviews and environmental reports, highlighting key issues with relevant internal and external stakeholders for clarity and refinement.
  • Analyze and compare complex partnership agreements and cash flow waterfalls
  • Coordinate and assist on presentations for community meetings and governmental approvals
  • Manage and control project pro forma analysis including budgets, schedule, timing, and underwriting assumptions
  • Complete applications and documentation necessary for debt and equity financing, project requisitions, property purchase and sale, and government subsidy renewal
  • Support detailed analyses of project schedule delays, cost overruns, productivity, contracts, change orders and other issues related to design and construction
  • Actively participate in contract negotiation and review of legal documentation for each project
  • Validate and defend budgets, assumptions, and pro-forma analysis
  • Build, coordinate and lead internal team members and external consultants through conceptual design and entitlements leading to construction documents
  • Coordinate with appropriate personnel including team analysts, clerical support, and others
  • Perform, coordinate, and lead pre-development work such as preliminary architectural and engineering issues, zoning issues, local government, and community support
  • Prepare investment packages for senior level review
Requirements
  • Bachelor’s Degree in related field, advanced degree preferred.
  • 3-5 years of experience in real estate development and/or construction, preferably multifamily.
  • LIHTC and Section 8 development experience highly preferred.
  • Strong quantitative, financial analysis and modeling (excel) skills.
  • Exceptional research and writing abilities.
  • Exceptional written and verbal communications skills.
  • Strong project management skills and follow-through
  • Ability to multi-task and prioritize appropriately in a constantly changing environment and act with a sense of urgency and accountability.
  • Highly driven and values entrepreneurialism; works well within ambiguity.
  • Exceptional attention to detail
  • Sound judgement
  • Some travel required
  • Full COVID-19 vaccination required