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Development Associate (Real Estate)

Chicago

Convexity Properties, a DRW company, is a full-service real estate firm, investing in and developing unique retail, residential, commercial and mixed-use properties. Our team seeks challenging projects that will benefit from our agility, high standards and expertise as we work to uncover new purposes and unlock additional value.

As a Development Associate, you’ll assist in coordinating complex real estate development projects in the commercial, residential and hospitality sectors.  You’ll be involved in organizing due diligence, design and construction phases throughout the entire lifecycle of a project, including budget planning, vendor management, cost management and change management.

 

The opportunity to join the Convexity Properties team is unique because:

  • We have no outside investors or third-party capital.
  • We are long-term owners and investors of real estate. We aren’t beholden to timing mandates to place capital or sell assets. Decisions are made exclusively on market fundamentals.
  • We operate in a fast-paced environment, and we move quickly. Our diverse experience, particularly with projects that have predevelopment and entitlement complexity, coupled with our access to capital, allow us to move quickly and achieve superior risk-adjusted returns. We have the flexibility to take calculated risks, such as acquiring sites without entitlements in-place.
  • We are relationship oriented. Convexity has built long-term relationships with its partners and consultants. We can leverage these relationships to act quickly when needed and they create opportunities for personal growth and development.

What you’ll do: 

  • Track and organize a wide variety of project tasks, schedules and deliverables from design through post-construction, with an emphasis on the core construction phases
  • Manage the work of external service providers identified through competitive RFP selection process (architects, engineers, general contractors, FF&E procurement agents, designers, specialty consultants, etc.)
  • Assist in contract negotiations with external service providers, manage financial and scope changes to negotiated terms, and ensure compliance with project deliverables and work standards
  • Liaise with municipal authorities to understand local requirements and gain necessary approvals and permits
  • Assist in preparation of project budgets, prepare monthly draw requests and provide regular reporting on project financials
  • Help team to manage project schedule to meet weekly, monthly and overall project milestones
  • Provide regular project updates to internal and external project resources and senior management; identify issues and develop contingency plans as needed
  • Interact with acquisitions team to assist in determining viability of prospective projects
  • Assist in the review of design and bid documents to ensure scope of work is aligned with project financial objectives and requirements
  • Assist in managing the project close-out process to a successful completion
  • Travel to project sites as needed

What’s needed:

  • 3-5 years of directly related development and project management experience in the real estate industry, preferably with mixed use commercial, hospitality or residential projects
  • Previous experience working on urban projects
  • Strong initiative and motivation to drive projects to completion
  • Vendor management experience
  • High level of proficiency with Microsoft Office suite, in particular MS Project and Excel
  • Strong problem-solving and issue resolution abilities
  • Excellent written and verbal communication skills
  • Strong organizational and time management skills and are highly detail oriented
  • Bachelor’s degree in construction management, architecture, engineering, urban planning or similar area of study
  • Ability to travel within the U.S. approximately 40% of the time (2-3 days/week)

Bonus points for:

  • Experience developing project proformas and financial statements
  • Experience working on luxury high-rise residential projects

 

The annual base salary range for this position is $85,000 to $120,000 depending on the candidate’s experience, qualifications, and relevant skill set. The position is also eligible for an annual discretionary bonus. In addition, DRW offers a comprehensive suite of employee benefits including group medical, pharmacy, dental and vision insurance, 401k (with discretionary employer match), short and long-term disability, life and AD&D insurance, health savings accounts, and flexible spending accounts.

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