Senior Development Associate

The Michaels Organization is a national leader in residential real estate offering full-service capabilities in development, property management, construction, and investment. At Michaels, our teammates strive to fulfill our promise of creating communities that lift lives – ones that jumpstart housing, education, civic engagement, and neighborhood prosperity. With this passion at the forefront of our business, Michaels teammates can be proud to be a part of the extraordinary, every day. 

Individual is responsible for assisting the Division Regional VP and Vice President of Development in the project management of a series of multi-family projects through the development lifecycle; which includes but not limited to relationship management, lead generation, land control, legal entitlement, project design, internal reporting, cost accounting and budgeting, financing and underwriting, construction, marketing/leasing, project opening and ongoing operations.

1. Lead Generation/Business Development

• Maintain and expand a network of consultants, leveraging past project relationships and attending regional professional events to uncover new business opportunities and assist in the company’s pipeline growth.
• Review and summarize incoming RFPs, site acquisition opportunities, and potential partnerships
• Generate a “Go/No-Go” analysis for new deals to review with VP/Regional VP of Development and submission to the Michaels Go/No-Go Review Committee
• If the Deal Committee responds favorably to above, tour site with Regional Vice and/or Vice President and/or attend initial project meeting with potential stakeholders and respond with LOI for site or RFQ/RFP response

2. Development Project Management (once deal progresses past A and for already commenced projects) Candidate must be able to run assigned deals approximately 75% independently from supervisor(s)

• Specifically, Candidate will be responsible for:
• Creating initial project and maintaining ongoing organizational management of Project Folders and documents for internal & external stakeholders
• Creating predevelopment budget and securing a financial sizing/feasibility analysis of from Michaels Residential finance team
• Populating a new opportunity in Bluebird and assisting VP of Development with the required submission for initial Investment Committee (“IC”) meeting presentation.
• Attending IC meetings and help VP/Regional VP to deliver any requisite follow-up information/meetings required by IC after initial approval
• Along with Project Accountant, managing pre-development cost accounting & budgeting in Job Costs, reviewing and approving invoices within IC approval amounts
• Scheduling and leading regular project calls with development and construction teams for assigned projects
• Assisting in project design coordination and contract/proposal management with Architect, Engineers, General Contractor, & other consultants
• Collaborating with VP of Development and design team and land use counsel on local entitlements and State Permits, when applicable
• Working alongside Green Consultant(s) to employ sustainable design initiatives as required by code, land use/site control agreements, and/or funding
• Working collaboratively Urban Practice Owner Representative team to secure progress pricing at each design milestone and with the GMP construction agreement development and execution
• Coordinate with property management and leasing teams to develop operating budgets and rent assumptions for new development

3. Financing and Investor Relations

• Assist VP/Regional VP of Development and VP of Capital Markets team with information for RFPs and/or offering memos required to secure project debt and equity commitments
• Collaborate with VP of Capital Markets to structure financing and compile competitive funding applications for LIHTCs and other subsidy sources of financing
• Along with legal team, manage loan closing due diligence and the requisite contractual document completion

4. Construction & Delivery

• Participating on OAC calls and attend in-person Monthly Site Visit/Draw meetings/site walks
• Working closely with Owners Representative to track and administer signatures on potential Change Orders and Approval of Change Orders to the GMP hard construction contract
• Managing “soft” professional cost and FFE Change Management Log – input monthly draw expenses, track & manage estimated future costs & savings
• Assisting and reviewing Monthly Draw Submittals with Accounting, Development & Construction Team
• As required, creating monthly draw reports to financial institutions, equity partners and company executives
• Liaising with VP of Leasing in the Project “creative process” including project branding, logo development, & website “splash pages”
• Management of FF&E Vendors & Delivery Schedule, & Assist Owner Representative Punch Lists
• Coordinating Move-In Strategy/execution with Construction and Operations team.
• Facilitation of payables & FF&E vendors after project delivery by working with the management company to effectively transfer accounts into operations.
• Facilitating project closeout by ensuring O&M manuals and as-built plans and surveys are received
• Leading efforts of permanent loan conversion with lenders

5. Additional Duties

• Participation in select Industry & Regional market education & networking
• General and other various project management tasks to advance Project delivery, including garnering community and political support and stewardship of Projects
• Assist with Project schedule & production of predevelopment budget tracking reports to ensure continued compliance with project IC approvals
• Facilitates financial decisions by working with Developers to ensure delivery of projects in a timely manner via the construction draw or check request process
• Facilitation of payables after project delivery by working with the management company to effectively transfer accounts into operations
• Analyze financial data and present business unit forecasted monthly predevelopment “cash use” and yearly reports and analysis for Michaels Residential accountants
• Commencing with respective Project lease-up, manage marketing & leasing analysis and tracking, ensuring adequate report to projects’ financial partners
• Participation in monthly Regional Development calls and company-wide meetings, assisting with reporting
• Assist development teams with requisite community engagement process
• General and other various project management tasks advance Project delivery, including garnering community and political support and stewardship of Projects

Required Experience: 

Project management, strong real estate fundamentals, fundamental understanding of real estate and business contracts, accounting, finance, budget management and reporting, working in team environment. Candidate should have strong interpersonal and communication skills; experience in effectively communicating key data and information to development team members and executives. Keen analytic, organization and problem-solving skills.

Candidate is expected to have 4-10 years of development experience.

Required Education/Training: 

Minimum of a BA or BS; and/or experience in a relative field. Masters level education is encouraged.

Required Skills and Abilities: 

• Self-starter with the ability to work independently while leveraging an established development platform
• Detail oriented and drive to always be on top of their areas of responsibility
• Excellent interpersonal skills and ability to manage up and down
• Excellent verbal and written communication skills
• Collaborative, respectful, and transparent approach with all stakeholders
• Superior desire to meet commitments/deadlines
• Ability to manage several projects simultaneously through high energy, flexibility and excellent organizational skills

Salary Range Information

The range displayed on each job posting reflects the targeted base salary for the position. Within the range, individual pay is determined by work location and additional factors, including job-related skills, experience, and relevant education or training.

Rewards & Benefits

We know Michaels’ promise of lifting lives starts with our teammates, so making sure every single teammate is happy, healthy, and set up for a successful future is important to us.  As part of our team, you will enjoy a competitive wage, a comprehensive benefit package which includes Medical, Dental, Vision, prescription, etc., generous paid time off, a 401 (k) plan with a company match, and so much more.  We believe in education – and in taking care of our own – so as an added incentive your children will be able to apply for the Michaels Employee Scholarship Program. 

• Help make the world a better place in a team-oriented environment.

• Grow with our organization through various  professional development opportunities.

• Collaborate and thrive in a company culture where all are welcome

Michaels teammates make a difference in the lives of residents, colleagues, and the communities where we live and work every day.  To learn more about the total rewards we offer please visit our website. 

Come join our team. You’re going to love it here!