Development Associate, Construction Admin (Dallas, TX)

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 35 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.

The Investment Ownership 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 include responsibilities related to one or more of the following development disciplines:

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

Essential Functions & Responsibilities

Investment Ownership

• Proactively manage construction-related risks with a forward-looking approach, identifying schedule and budget risks in advance.

• Track and provide support to the construction team with permitting, inspections, certificate of occupancy, owner acceptance of units, and other milestones to support timely project delivery.

• Coordinate with cities and JHAs regarding development agreements, cost-sharing agreements, reimbursement agreements, and any other required agreements/documents.

• Act as a central point of contact for ownership-related construction administration matters.

• Review and evaluate construction change orders for scope, cost, and schedule impacts.

• Serve as the owner and primary steward of the development budget during construction.

• Review and submit accurate and timely construction funding draw requests to lenders and investors.

• Plan and manage retainage releases, final draws, and equity installments in accordance with loan documents and partnership agreements.

• Support project closeout activities, including final inspections, punch lists, retainage release, and transition to property management and Investment Ownership.

• Coordination and oversight of LIHTC inspections, corrections, responses, and compliance requirements.

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

• Review and approve unit/amenity finishes and community programming.

• Support for refinance and disposition analysis, due diligence, and closings

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

• Maintain clear and consistent communication with internal teams (development, asset management, construction) and external partners (property management, consultants, financial partners).

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