Development Associate (Dallas, TX & San Diego, CA)

About The Company

Built on a foundation of integrity, respect, and commitment, JPI stands out as one of the most active real estate developers and builders in the nation. For more than 3 5 years, JPI has designed and developed communities with best-in-class homes and amenities. JPI is committed to data-driven management and continuous improvement. Its team of experts utilizes data - including unparalleled market research, proven business processes, and proprietary models - to ensure that every decision is strategic, focused, and produces exceptional multifamily communities with the best risk-adjusted returns. More than just great communities, JPI is focused on leaving a lasting impact on the communities where we build and is continually committed to "Building What Matters." JPI operates as a subsidiary of Sumitomo Forestry, which is recognized as one of the largest home builders in the United States.

About the Job.

JPI has two exciting opportunities for a Development Associate to join our Development team located in Dallas, TX and San Diego, California.

The Development Associate is expected to engage in any or all of a broad range of responsibilities across the real estate development and construction project lifecycle. The position demands independent technical input and decision-making in relation to JPI projects. The role will typically be responsible for one or more of the following development disciplines :

• Development Planning
• Land Acquisition and Entitlement
• Financial Modeling
• Project Close
• Investment Ownership

Essential Functions & Responsibilities

Development Planning

Define underwriting standards and ensure compliance across all projects.

Incorporate market-based inputs and projections into planning and underwriting.

Monitor project underwriting compliance to ensure adherence to established standards.

Develop and analyze project and investment KPIs and benchmarks for performance evaluation.

Track and report on project and investment performance.

Provide feedback to refine strategy and underwriting processes based on performance data.

Land Acquisition

Source land opportunities and track systematically.

Build and maintain broker relations.

Conduct site searches and review land deals for initial feasibility.

Screen land at a macro level, including sub-market analysis and ranking.

Perform zoning and code analysis to assess regulatory fit.

Screen land at a micro level, focusing on site-specific factors.

Ensure business plan alignment with acquisition targets.

Conduct entitlement feasibility analysis.

Apply the rule-of-thumb analysis for quick viability checks.

Coordinate proposals for internal committee reviews.

Administer hard cost questionnaires for cost estimation.

Entitlement

Secure zoning and entitlement approvals.

Submit applications for bonds and tax credits.

Establish community programming to support entitlements.

Manage entitlement projects, including mapping, hearings, and CEQA compliance as required.

Financial Modeling

Perform initial underwriting for new deals

Provide underwriting deal updates to keep stakeholders informed.

Analyze rents and comparables for market positioning.

Prepare presentation packages for committee presentations.

Run capital scenarios to optimize financing.

Finalize underwriting models for deal closing

Perform reforecast modeling to update projections.

Generate quarterly investment reporting.

Conduct sale and refinance analysis to evaluate exit strategies.

Project Close

Prepare board packages for land and overall project approvals and conduct board reviews.

Secure easements as required.

Close capital arrangements, including public / private partnerships and site tours.

Manage due diligence for land and development projects.

Prepare closing statements and loans for land and development projects.

Handle capital documents for land and development projects.

Facilitate closing calls for land and development projects.

Prepare closing exhibits.

Oversee post-closing services.

Investment Ownership

Oversee property build processes, including monthly funding requests and AHJ compliance requirements.

Construction owner's rep support

Evaluate and respond to PCO requests and RFIs requiring owner input.

Supporting the management of project budgets and construction finance close-outs.

Oversight of LIHTC inspection and compliance requirements.

Supporting the Investment Ownership team with investor communications, including site tours and quarterly updates.

Analyze rents and comparables for market positioning.

Prepare presentation packages for committee presentations.

Run capital scenarios to optimize financing.

Generate quarterly investment reporting.

Conduct sale and refinance analysis to evaluate exit strategies.

Review and approve unit / amenity finishes and community programming.

Manage due diligence for land and deals.

Oversee lease-up and leasing operations, including rent strategy and approvals.

Develop asset management business plans.

Review & reporting for project-level monthly financials.

Support for refinance analysis, due diligence, & closings

Market & submarket fundamentals research, including touring comparables, monitoring demographic trends, & evaluating data from various third-party sources.

Support for retail space leasing & tenant build-out when applicable.

Non-Essential Duties and Responsibilities :

Other duties as assigned

Education, Work Experience, & Physical Requirements

A Bachelor's Degree in Business, Finance, Urban Planning, Accounting, Real Estate, Engineering, Math, or a related field is required. Graduate degree and / or relevant professional certifications encouraged.

Demonstrated experience in entitlements, executing development opportunities, working with capital partners, market analytics, asset management, property operations, and strong negotiation skills.

Minimum of 2 years' experience in Real Estate development , including significant multifamily development experience.

Why work for us?

We have a 35-year track record of developing multifamily communities with responsibility, accountability, and integrity. Our stated purpose is to :

Transform Building

Enhance Communities

Improve Lives

JPI has an ambitious and exciting vision for how we will achieve this, which makes for a positive and dynamic work environment, with many opportunities for personal development and growth. As well as our highly competitive offering of compensation and benefits, we are committed to :

Transformative careers in a transformative company

Comprehensive training and development

Promotion from within at all levels of the organization

Borderless Careers, based on performance, potential, and personal ambition

Industry Recognition

NMHC - #1 Fastest Growing Developer; #2 Fastest Growing Building; #8 Largest National Developer; # 11 Largest National Builder

Real Page - Most active multifamily developer in DFW for the past 8 years

Dallas Business Journal Best Places to Work - 2023

Dallas Business Journal - Largest DFW Real Estate Developers - #11

JPI offers associates a comprehensive benefits package with competitive salaries and more, including :

Competitive Bonus Program

4 Weeks PTO for All New Associates (Pro-Rated by Hire Date)

11 Holidays and 8 Early Release Days

Medical, Dental, Vision, and Life Insurance

401(k) with Company Match (Up to 5% Match)

Health Savings Account

Flexible Spending Accounts (Dependent & Medical Reimbursement)

Paid Parental Leave

Paid Volunteer Time

Tuition Assistance

Phone Reimbursement

Associate Referral Bonuses