Real Estate Development Associate (Commercial/Hotel/Retail/Land/Property – Site Acquisition Support) Job at HRMC (St Louis)

Job Description

The Development Associate is responsible for researching, compiling and managing data and identifying key insights utilized by the development team in the strategic decision making for Drury Hotel sites. The work will span all functional areas of the development team process including strategic research/analysis, market feasibility, site acquisition, zoning/entitlement and asset management. The Development Associate will utilize research to make recommendations to the development team on site acquisition targets and zoning/entitlement strategies across a variety of projects/markets. This person will be given increasing levels of responsibility for various markets/projects providing the opportunity for growth and advancement within the development department.

Job Responsibility

Identify, gather, analyze and compile market reports outlining hotel demand generators to determine feasibility for new hotel development (i.e., leisure activities, universities, hospitals, office parks, convention centers, airports, residential density)
Locate and analyze data for competitive hotels in target markets and monitor news/updates for planned/future hotel competition
Run demographics reports for target markets and identify general trends in growth and income levels
Monitor real estate listings, auction.com, foreclosures, and mergers for potential development opportunities
Research zoning codes (i.e. use, density, parking, heights, setback, and signage) and assist in obtaining approvals/entitlements
Compiling traffic counts, researching highway plans, and identifying proposed short/long term changes that may impact a market/site
Research impact fees, development costs, and historical construction costs in support of new hotel/renovation budget preparation
Analyze historical Drury Hotel performance data and new market competitor data and develop initial project budgets and proformas
Compile sale comparables and summarize land values and tax rates
Prepare market reports and exhibits for real estate/investment committee deliverables
Identify key insights from data and make recommendations to the development team on market focus, site selection/acquisition, project cost and hotel performance assumptions and zoning/entitlement strategy
Coordinate/track due diligence tasks
Support development team with hotel sales
Travel with the development team to review markets and sites

Requirements

Strong data research, analysis and organization skills
Experience in cost analysis, financial analysis, project management and negotiation encouraged
Knowledge of real estate and development business encouraged
Must be able to work in a collaborative team environment, take direction from others, solve problems, and think critically
Strong work ethic with the ability to focus on multiple tasks to deliver accurate, complete assignments
Demonstrates a positive attitude when handling a variety of daily tasks and challenges
Displays persistence in overcoming obstacles with a can-do mentality
Must be flexible in approach to tasks recognizing alternatives and improvements to achieve acceptable solutions
Basic Microsoft Office program skills are required including knowledge of Outlook, Word, Excel, and Power Point
General business, finance and real estate acumen preferred
Comfortable presenting to groups
Minimum of Bachelor’s Degree (Preferred emphasis in business, economics, legal, finance, or real estate)
Two or more years professional experience or an advanced degree, preferably in real estate development, brokerage or management with experience in negotiations, sales and relationship building preferred
Hotel industry experience a plus
Valid driver’s license and proof of insurance required
Fluency in English, spoken and written
Must be able to provide proof of eligibility to work in the U.S.
This is an on-site position
it is not remote or hybrid
You must reside within a reasonable commuting distance to the St. Louis area or be willing to relocate prior to your start date

What we offer

Paid Time Off (PTO) and Paid Holidays
401K Savings Plan (% matching)
Health, Dental, and Vision Insurance Plans
Other Insurance (Critical Illness, Accident Protection, Basic Life, Supplemental and Dependent Life, and Long and Short-Term Disability)
Flexible Spending Accounts (FSA)

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Real Estate Development Associate (Commercial/Hotel/Retail/Land/Property – Site Acquisition Support)

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Job Responsibility

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