Real Estate Development Associate

Overview

We have an immediate opening for a Real Estate Development Associate to assist the team in all aspects of affordable and mixed income housing acquisition, and development (LIHTC, AHTF, etc.) primarily in New Jersey. Our ideal candidate should exercise sound judgment and exceptional attention to detail to contribute to all phases of a deal. Highly driven and works well within ambiguity. Ability to multitask and prioritize appropriately in a constantly changing environment and act with a sense of urgency and accountability.

About Foya Development:

Foya Development (formerly Adenah Bayoh and Companies) is a minority, female owned real estate development company that specializes in affordable and mixed-income housing. Since 2014, Foya Development has acquired and/or developed more than 300 units of affordable and market rate units across Essex County. We also have a strong pipeline of affordable rentals as well as affordable homeownership projects in the pipeline. This company’s work provides hands-on expertise across all multifamily disciplines, including acquisitions, development, design, construction, energy and sustainability, property management and as well as community impact.

Foya’s primary mission is to provide high quality housing in underserved communities, at prices that residents of those communities can afford. With a long-term commitment to our residents, communities and partners. At Foya, we value; empathy, ambition, innovation, personal growth, a can do attitude and determination. We stand out by:

• Listening to the community, which often includes our friends and families – more than 40% of the residents in our developments knows us personally.

• Developing and preserving quality affordable housing in an innovative and cost effective manner

• Creating better neighborhood outcomes.

• Creating economic opportunities in the form of meaningful participation in construction activities.

Primary Responsibilities:

• Compile due diligence information including financial, market, site, and regulatory data.

• Order and review third-party reports, including plans and environmental reports, highlighting key issues relevant for internal and external stakeholders.

• Coordinate and assist on presentations for community meetings, including but not limited to council, planning and zoning boards.

• Manage and control project pro forma analysis including budgets, schedule and timing assumptions.

• Complete applications and documentation necessary for project requisitions, sale contracts and municipal, county or state subsidies.

• Review and provide insights on project schedule delays, cost overruns, contracts and other issues related to the overall project.

• Actively participate in contract negotiation and review of legal documentation for each project.

• Participate in the review of budgets, assumptions, and pro-forma analysis.

• Assist internal team members and external consultants through conceptual design and entitlements leading to construction documents.

• Perform, coordinate, and lead pre-development work such as preliminary architectural and engineering issues, zoning issues, local government, and community support.

• Prepare project narratives and defend project assumptions for senior level review.

• Required Skills & Experience

• Bachelor’s Degree in related field, advanced degree preferred.

• 3-5 years of experience in real estate development and/or construction, preferably multifamily.

• NJHFMA, LIHTC HOME and 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.

•

Salary and Benefits

Job Type: Full-time-Exempt

Pay: $90,000.00 – $120,000.00 per year

Benefits:

• Project equity

• Life insurance

• Dental insurance

• Flexible schedule

• Health insurance

• Paid time off

• Vision insurance

Schedule: This is a full-time exempt, salaried position. The position is primarily M-F but will occasionally require evening and weekend work and hours in excess of 40 hours per week. The work schedule may be adjusted as needed to accommodate busy seasonal times.

COVID-19 considerations:

We work remotely as necessary

Start Date: As Soon As Possible

Location: Essex County

Application Process:

Please send your resume/CV and a cover letter describing your relevant experience and interest in the role, to HR@foyagroup.us