Associate - Development, Affordable Housing

Tishman Speyer creates vibrant destinations and dynamic environments that inspire innovation and connected communities. As a diversified developer, operator, and investment manager of top-tier real estate in 33 markets across the globe, our business choices are driven by the belief that real estate should unlock human potential. Tishman Speyer's diversified portfolio spans market rate and affordable residential communities, premier office properties and retail spaces, industrial facilities, and mixed-use campuses. We create state-of-the-art life science centers through our Breakthrough Properties joint venture, and foster innovation through our strategic proptech investments. By combining global perspective with local expertise, and a personalized approach, we are able to anticipate our customers' evolving needs. We were the first real estate company to introduce asset-wide amenity services through our ZO platform, and the first traditional real estate company to create its own flexible space and coworking brand, Studio. Since our founding in 1978, Tishman Speyer has acquired, developed, and operated 522 properties, totaling 218 million square feet, with a combined value of over $129 billion (U.S.). Tishman Speyer currently has approximately $68 billion in assets under management, including iconic properties such as Rockefeller Center in New York City, The Springs in Shanghai, TaunusTurm in Frankfurt, and Mission Rock in San Francisco. Summary of the Position: This individual will join as member of the Affordable Housing team in New York, primarily responsible for supporting the development team on active affordable housing development projects. The Associate will collaborate with teams across our core functions, including: portfolio management, asset management, capital markets, accounting, design and construction, and leasing. Tishman Speyer has a development pipeline of over 2,200 units of affordable housing, of which nearly 600 units will be financed and in-development by the end of 2024. The individual will work directly on development of these assets, assisting on all aspects of financial closings, and supporting pre-development efforts for the remaining phases of Edgemere Commons-a 10-acre master planned affordable housing community on the Rockaway Peninsula, Queens. Key Responsibilities: Support the Affordable Housing development team throughout all aspects of the development process including acquisitions, entitlements, design, construction and financing / capital markets activities Support pre-development activities including all-phases of design drawings from schematic design through construction documentation, working with internal design & construction colleagues, and external architect and engineering consultants Lead financial modeling and analysis to evaluate the economic viability of proposed scenarios using ROC calculations, NPV, IRR, and promote waterfalls Draft investor communications and reporting including conducting investor tours, responding to questions and preparing monthly, quarterly and annual project updates, and reports Monitor construction progress, budgets, and costs to ensure projects stay on schedule and within budget Manage the construction loan draw process and lender reporting Assist in preparing and presenting memos, analyses and recommendations to senior management Stay up to date with industry trends, market conditions, and regulatory changes in order to identify potential opportunities and risks to the project. Maintain industry comps and competitive project data Underwrite future development opportunities to help formulate development strategy and assist with financing for future development Collaborate in a dynamic team environment and interact with senior management and departments across the company Foster relationships with management teams, internal and external stakeholders, and consultants Skills & Qualifications: 3-5 years of experience in an analytically rigorous Real Estate or Finance environment Experience with affordable housing finance, LIHTC, and New York City and State housing agencies (HPD, HDC, HFA, HCR) a plus Unwavering attention to detail and accountability Excellent written and oral communication skills Proficient in MS Office suite, including advanced Excel and PowerPoint skills Experience with complex financial modeling Self-driven, proactive, and able to work independently while thriving in a collaborative team environment Strong project management and creative problem-solving skills The ability to work effectively with both peers and senior executives in a highly entrepreneurial, team-oriented environment Evident passion for real estate development and desire to build a career on the principal side The base compensation range for this role is $110,000 to $130,000. This role is also eligible for a discretionary annual bonus, as well as access to our comprehensive medical, dental, and vision insurance, life and disability insurance, 401(k) plan (with matching contributions), wellness benefits and all other benefits afforded to full-time Tishman Speyer employees. This base range reflects a number of factors including, but not limited to, relevant experience, skill sets, and/or licensure required of an individual in this particular role. The base range is also specific to members of Tishman Speyer's New York team, as we've considered factors specific to this geography. Tishman Speyer is deeply committed to creating and maintaining a diverse workforce which promotes different views and perspectives. We expect our leaders and employees alike to champion diversity and inclusion practices. Tishman Speyer has several employee affinity and interest groups that provide employees opportunities to develop professional relationships across the business and identify opportunities for development and advancement. We are proud to be an Equal Opportunity Employer and treat all applicants for employment equally based upon job-related qualifications and without regards to race, color, age, sex, sexual orientation, gender identity, gender expression, marital status, military or veteran status, national origin, disability, religion, or any other characteristics protected by law. Tishman Speyer is an equal opportunity affirmative action employer and administers all personnel practices without regard to race, color, religion, sex, national origin, sexual orientation, gender identity or expression, disability, protected veteran status or military status, or any other category protected under applicable law. Tishman Speyer is committed to taking affirmative steps to promote the employment and advancement of minorities, women, persons with disabilities and protected veterans. Please click here to review all EEO policies, notices, and relevant posters. Please click here to review E-Verify Information. Disability Assistance - Tishman Speyer is committed to being an Equal Opportunity Employer and offers opportunities to all job seekers, including job seekers with disabilities. If you are a qualified individual with a disability or a disabled veteran, you may request a reasonable accommodation if you are unable or limited in your ability to use or access the Company's career webpage as a result of your disability. You may request reasonable accommodations by sending an email to

Created: 2024-11-05