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.

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."

• 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.).

• 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.

• 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…