Development Associate

Job Description

Job DescriptionAbout Us

"Inspired by Spaces, Empowered by People." At Enclave, we don't just build structures; we cultivate environments where our partners, team members, and communities flourish. Our very name reflects our essence - creating distinct spaces that inspires growth and success. As a unified real estate investment firm, Enclave brings together exceptional development, construction, and property management expertise to specialize in multifamily, industrial, and commercial developments across the Midwest and Mountain West.

Our Growth Story: Since our founding in 2011, we've expanded to over 250 team members, completing more than 150 projects and managing assets exceeding $1.75 billion. Our rapid growth is a testament to the innovative and collaborative spirit that drives everything we do. For six consecutive years, Enclave has been recognized as one of the 50 Best Places to Work. This accolade reflects our commitment to fostering an environment where everyone feels valued, supported, and inspired to excel.

About the Role Development Associate

The Development Associate is responsible for assisting the Development team with a wide range of responsibilities related to the development process. This includes assisting Developers with market analysis, updating of budgets and pro-formas, coordinating internal reporting, supporting leasing activities, and monitoring overall deal pipeline, among other responsibilities.

Position Logistics

• Primary Work Location: St Louis Park, Enclave Headquarters
• Work Environment: On-Site
• Work Schedule: Monday - Friday | 8 am - 5 pm (with flexibility)
• Work Type: Full Time (40 hours/week)

Who We're Looking For

• Market Analysis: Conduct in-depth market and sub-market analysis to assess supply, demand, market rents, and absorption trends, using a mix of cutting-edge tools and data sources to drive key development decisions.
• Project Management: Play a pivotal role in updating and refining project details across multiple platforms, ensuring seamless information flow for successful development outcomes.
• Investment Memos: Craft impactful, data-driven Investment Committee memos to guide high-stakes investment decisions, distilling complex information into actionable insights.
• Investor Communications: Draft investor-focused memorandums, highlighting project financials and market dynamics to secure buy-in and support.
• Utility Coordination: Collaborate with utility companies to secure essential service agreements and rebates, ensuring smooth project execution and cost efficiency.
• Leasing Strategy: Coordinate leasing efforts, working directly with brokers and potential tenants to drive strategic space utilization and long-term success.
• Entitlement Support: Assist in preparing and presenting development plans to city officials, providing the necessary reports and data to navigate the entitlement and permitting process.
• Due Diligence: Support due diligence by reviewing purchase and sale agreements, loan documents, and operating agreements, summarizing key terms for internal stakeholders.
• Financial Analysis: Apply strong analytical skills to evaluate the economic and financial performance of industrial and multifamily real estate projects, identifying key trends and opportunities.
• Feasibility Studies: Conduct feasibility studies and financial analyses on potential development and value-add investments, helping to identify profitable growth opportunities.
• Contract Review: Assist with the preparation of RFPs and contractor bids, reviewing consultant and construction contracts to ensure alignment with project goals.
• Deal Management: Maintain and update detailed information on each deal, ensuring all systems and reports reflect current project statuses.

We're Seeking Individuals Who Are:

• Analytical & Data Driven - Strong ability to interpret market data, financial models, and investment performance metrics to support development decisions.
• Detail Oriented & Organized - Manages multiple projects, keeps meticulous records, and ensures reports and memos are accurate and insightful.
• Proactive & Resourceful - Takes initiative in coordinating with various stakeholders, identifying market opportunities, and problem-solving challenges in real estate development.
• Strong Communicator - Able to craft clear and concise investment memos, investor reports, and presentations for internal and external stakeholders.
• Collaborative & Team-Oriented - Works seamlessly with developers, brokers, city officials, investors, and other teams to drive successful real estate projects.
• Financially Savvy - Understands underwriting, feasibility studies, and deal structuring for industrial and multifamily developments.

Qualifications

• Bachelor’s degree in civil engineering, Construction, Urban Planning, Finance, Real Estate or related field OR 2-4 years of overall experience in development or real estate
• Experience within industrial real estate sector, ideally with development and leasing
• Excellent interpersonal communication skills, including heavy telephone and email communication; ability to professionally communicate and build effective relationships with internal and external customers
• Well organized and adaptable, with the ability to manage multiple projects and work well under pressure
• Intermediate to advanced knowledge of Microsoft Excel with experience creating analytical models and real estate development financial forecasts

Culture & Total Rewards ApproachWhy Join Enclave?

When you become part of Enclave, you join a team of trailblazers in the real estate, construction, and property management industry. Our collaborative and fun-loving culture encourages you to thrive both professionally and personally. Our Core Values define what we say and do.

• Care For Each Other: We value people for who they are and take pride in our relationships with team members, clients, and partners
• Do The Honorable Thing: We are committed to upholding the highest standards in our words and actions.
• Be Empowered: We encourage true autonomy, which results in team members who are remarkably inspired and high-performing.
• Promote Innovation: We constantly reach further and don't accept the status quo to bring the best service and product to the marketplace.

Total Rewards Approach

Our salary ranges are established based on a combination of market data, internal equity, and the unique characteristics of our organization such as our size, revenue, and industry. Within the range, individual pay is determined by multiple factors including job-related skills, experience, and relevant education or training.

We offer comprehensive health, dental, and vision insurance plans, a 401k retirement plan with company match, and company-paid life and disability insurance. Here's what else you can look forward to:

• Work-Life Balance: Enjoy Paid Time Off (PTO), paid holidays, and dedicated volunteer time, ensuring you have the time to recharge and give back to the community.
• Professional Growth: Be part of a company that values your development, offering a culture that supports learning, innovation, and career progression.
• Additional Perks: Take advantage of our Health Savings Account (HSA), Flexible Spending Account (FSA), supplemental voluntary benefits, paid maternity/paternity leave, and more! Enclave supports your overall well-being and financial security.

Join Enclave and be part of a dynamic team that's shaping the future of real estate, construction, and property management. With us, you'll find more than just a job - you'll find a place where your contributions matter, your growth is supported, and your potential is limitless. Together, we'll create spaces that inspire and empower.

Enclave provides equal employment opportunity to all individuals regardless of their race, color, creed, religion, gender, age, sexual orientation, national origin, disability, veteran status, or any other characteristic protected by state, federal, or local law.