Real Estate Development Associate (Commercial / Hotel / Retail / Land / Property - Site Acquisi[...]

Overview The Employer is HRMC, partnering with Drury Development Corporation, a privately held family-owned real estate development company that owns, develops, designs and builds Drury Hotels. For over 51 years, the Drury family of companies has operated with values of hard work, fair prices, dedication and honesty, and currently owns and operates over 150 hotel properties in 27 states. The company is vertically integrated with over 100 employees actively developing and building over 1,000 new Drury hotel rooms at a time, nationwide. A collaborative in-house team of developers, architects, engineers, interior designers, construction managers, legal support, and finance professionals works to deliver high-quality hotels at fair and honest prices. Basic Function The Development Associate is responsible for researching, compiling and managing data and identifying key insights used by the development team in strategic decision making for Drury Hotel sites. The role spans the development process across strategic research/analysis, market feasibility, site acquisition, zoning/entitlement and asset management. The Development Associate will use research to make recommendations on site acquisition targets and zoning/entitlement strategies across various projects/markets, with increasing levels of responsibility and opportunity for growth within the development department. "Become part of our collaborative, growth-oriented development team." Working Relationships Reports to a Director of Development and supports other members of the development team including Development Managers. Collaborates with departments throughout the company including architecture, construction, engineering, design, legal, finance, and accounting. May assist Director or Manager in leading multi-department projects or lines of effort. Supports Development Managers and Directors in the hiring and management of external resources (consultants, engineers, etc.). General Job Duties Identify, gather, analyze and compile market reports outlining hotel demand generators to determine feasibility for new hotel development (e.g., 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 growth and income trends. Monitor real estate listings, auction sites, foreclosures, and mergers for potential development opportunities. Research zoning codes (use, density, parking, heights, setback, signage) and assist in obtaining approvals/entitlements. Compile traffic counts, research highway plans, and identify proposed short/long term changes impacting a market/site. Research impact fees, development costs, and historical construction costs to support new hotel/renovation budgets. Analyze historical Drury Hotel performance data and new market competitor data to 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 on market focus, site selection/acquisition, project cost and hotel performance assumptions, and zoning/entitlement strategy. Coordinate/track due diligence tasks (environmental, survey, geo-tech, zoning). Support development team with hotel sales (coordinate marketing efforts, manage closing checklists, resolve varied issues, etc.). Travel with the development team to review markets and sites. General Knowledge, Skill, and Ability 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. Ability 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. Positive attitude when handling a variety of daily tasks and challenges. Persistence in overcoming obstacles with a "can-do" mindset. Flexibility in approach to tasks, recognizing alternatives and improvements to achieve solutions. Basic Microsoft Office skills (Outlook, Word, Excel, PowerPoint). General business, finance and real estate acumen preferred. Comfortable presenting to groups. Education and Experience Minimum of Bachelor’s Degree (preferred emphasis in business, economics, legal, finance, or real estate). Advanced degrees are advantageous. Two or more years of 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 is 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. Company Benefits 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) Note for External Posting Sites: This posting is managed by HRMC on behalf of Drury Development Corporation. Applicants who meet core qualifications should complete HRMC’s online application prior to scheduling interviews. HRMC’s Search Team will assess credentials. #J-18808-Ljbffr Freshworks Inc.