Development Associate

About Capital A Housing:Capital A Housing is a young and rapidly growing developer of income-restricted affordable, workforce, mixed-income, and naturally affordable housing. Organized as a Texas social benefit corporation, "Cap A" is a for-profit company, but aims to develop projects tailored for exceptional value to their communities through innovative design that integrate into urban contexts and provide high quality of life. Cap A is a frequent collaborator with local non-profit organizations and local governments. While its projects have thus-far been located in Austin, Cap A is actively pursuing opportunities in surrounding communities.Position Overview:Under direction from the Director of Pre-Development, the Development Associate will support real estate development efforts primarily serving as the project manager for affordable housing and mixed-income housing projects through the pre-development process. Primary responsibilities include performing economic analysis, underwriting, submitting funding applications, risk management, due diligence, and managing external consultants involved during the design development process.This position is designed for candidates with experience managing LIHTC development projects from conception to financial closing/permitting as a developer, including candidates who have assisted extensively in such project management and are ready to take on the lead project management role. Experience with design, the construction phase of projects, and post-completion compliance and asset management is not required but will be considered as an additional qualification. Familiarity with the LIHTC underwriting and financing process is a firm requirement, preferably in Texas.The Development Associate will work in Capital A Housing's Austin office and will work with other employees of Capital A Housing and will have the opportunity to work with employees of other Hexah family of companies employees to gain a wide range of experience in the development process.Duties and Responsibilities:Support business development staff and coordinate activities with outside professionals;Assist with site selection and manage initial due diligence and feasibility analysis for potential development;Assist with underwriting efforts for development projects;Perform financial analysis and modeling, verification of income and expense assumptions, and evaluation of capital structures and financing;Maintain familiarity with the federal LIHTC program, Qualified Allocation Plans, and other funding;Prepare tax credit applications and coordinate responses to the state agency;Assist in the preparation of funding applications, performing closing due diligence, circulating documentation to debt & equity financing, and providing updates to capital partners asSolicit proposals and manage services provided by design professionals and consultants. Oversee preparation of feasibility reports and constructionParticipate in communication with Construction Staff and Contractors. Assist in the confirmation of development costs, establishment of construction budgets, and finalizing construction;Coordinate preparation of monthly payment applications and draws; andOther development-related tasks as needed and directed by the director of pre-development.Reports to the Director of Pre-Development; duties often coordinated with other employees;Required Experience and Qualifications:Bachelor's degree is required;Real estate development or finance experience;At least one year of LIHTC development finance experience is required, no exceptions;Ability to independently construct LIHTC pro-formas and development budgets compliance with the Texas Qualified Allocation Plan, no exceptions;Strong quantitative aptitude with an extremely high level of attention to detail and a strong sense of personal responsibility and ownership of work product;Excellent personal and organizational skill;Ability to summarize complex issues and opportunities into succinct and actionable points;Solid understanding of economic and business environments;Highly driven and hard working with high standards for themselves and others;Demonstrated interest in a career focused on real estate development and/or affordable housing;Desire to work in a transaction-based environment where requirements and tight deadlines are often dictated by deal flow;Highly resourceful and comfortable working in an unstructured, entrepreneurial environment;Highly proficient in MS Excel (advanced proficiency required), Word, and PowerPoint, as well as Google suite;Evidence of solid research, writing, and group presentation skills.Benefits:As a member of our team, you will be part of a firm deeply rooted in the Austin community, where our principals actively contribute to city commissions and nonprofit boards, and advocate for sustainable development. If you are ready to challenge the status quo and contribute to a more equitable future, we invite you to apply and grow with us.Additionally, Capital A Housing is part of the Hexah family of companies. As such, we offer a competitive benefits package which includes:Health and Wellness BenefitsMedical, Dental, Vision InsuranceWorker's Compensation InsuranceDisability InsuranceHealth Savings AccountWork-Life BalancePaid time offPaid company holidaysParental LeaveRetirement Benefits401kUp to 3% company matchingOngoing LearningLicensing CE requirementsProfessional Learning

Created: 2025-01-15