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The NRP Group is currently seeking a Development Associate in its Mid-Atlantic Regional Office to expand its affordable housing development work.
The Development Associate will be responsible for supporting The NRP Group’s affordable housing development in the District of Columbia, Maryland, and Virginia. The Development Associate will participate in and contribute to the full range of real estate development activities but have a particular focus on sourcing new affordable housing projects, securing all forms of affordable housing finance, and directing project zoning and entitlement approval processes. The role is an ideal fit for an entrepreneurial person with a passion for development. The ideal candidate is a self-starter, can work independently, and has a passion and drive for affordable housing. The individual will learn the development process from start to finish with rapid growth and autonomy for the right individual. Basic understanding of real estate financial modeling is a plus. Most importantly is a strong intellectual curiosity and desire to learn, an appreciation for the formation and maintenance of relationships both internally and externally, and strong communication skills.
Underwrite potential affordable housing projects using all key forms of affordable housing finance (Low-Income Housing Tax Credits, tax-exempt bonds, subordinate debt, operating subsidies, and so on)
Review and maintain understanding of all relevant state and local funding programs and policies, including state Qualified Allocation Plans, state/local subordinate debt programs, state/local operating subsidy programs, and emerging affordable housing debt programs from private companies
Collaborate with project team to prepare timely submission of LIHTC and related funding applications to the relevant state agency.
Assist with the public approvals process for proposed developments.
Collaborate with internal and external team members to create compelling development proposals in response to Request for Proposals for development sites.
Collaborate with team members to formulate a strategy for each project, make recommendations on future project pursuits, and assist with the creation of development budgets for future projects.
Attend local industry networking events, meetings and training seminars to solidify relationships with policy makers, brokers, peers, and keep abreast of changes / opportunities.
Build and maintain partnerships with a wide range of external entities, including but not limited to partner developers, non-profit organizations, local and state government agencies, consultants, and other third-party professionals.
Bachelor’s degree with at least three years of affordable multifamily development experience
Demonstrable experience underwriting affordable housing projects
Excellent communication skills with experience presenting to a diverse audience
Highly organized and efficient within a multi-tasking environment
Self-disciplined and hard working in a fast-paced, fast-changing, self-managing environment
Preference for individual with:
Advanced training or education, such as the National Development Council’s Housing Development Finance Professional certification
Experience with affordable housing development in Maryland and/or Virginia
Members of underrepresented communities are encouraged to apply.