Development Intern

Job Description

Development Intern | Dominium

The Tone:
This is an internship at Dominium, one of the nation’s most respected and leading affordable housing development and management companies. Dominium is actively engaged in addressing the affordable housing crisis, dedicated to creating quality, affordable homes and fostering strong communities through daily engagement with its residents. This role offers the opportunity to make a profound difference in people’s lives every day, supporting a mission that builds enduring value for residents, employees, communities, and financial partners. Interns are encouraged to challenge themselves and develop both personally and professionally within a company that values entrepreneurial spirit, developing people, a growth mindset, and execution.

The TL;DR
• Role: Internship
• Location: Not specified in listing (Dominium operates offices in Minneapolis, Atlanta, Dallas, Phoenix)
• Team: Supports Development Analysts, Associates, Developers, and Project Partners
• Mission: Plays a crucial support role across all phases of the real estate development process for affordable housing projects.
• Tech Stack: MS Office, Excel

What You’ll Actually Do
• Market and Financial Analysis: Conduct comprehensive research on local real estate trends, including pricing, supply, and demand, to identify potential investment opportunities and support the preparation of detailed market reports. This also involves assisting in the creation and maintenance of complex financial models to evaluate project profitability, encompassing income projections, return on investment (ROI) analysis, and the development of accurate cash flow projections that factor in rental income, operating expenses, and financing costs for new developments.
• Acquisition Due Diligence and Support: Support the evaluation of potential acquisitions by performing thorough due diligence, conducting property financial reviews, and comparing market values. This includes reviewing investment agreements and legal documents as part of the pre-acquisition process.
• Financing and Tax Credit Application Compilation: Assist in compiling and preparing all necessary documentation for various financing applications, ensuring full compliance with lender requirements. Additionally, support the preparation of complex tax credit applications, such as those for Low-Income Housing Tax Credits (LIHTC) or Historic Preservation, by organizing required documentation and ensuring its accuracy and completeness.
• Project Planning and Construction Administration: Help prepare and update critical construction timelines, milestone charts, and resource allocation plans to ensure projects stay on track. This also involves participating in construction administration tasks and collaborating with construction teams to maintain quality control.
• Site Visits, Reporting, and Stakeholder Coordination: Participate in regular site visits to monitor project progress, document any emerging issues, and assess overall construction quality. Furthermore, assist in generating comprehensive project status reports and facilitate clear communication and coordination among all project stakeholders to ensure smooth execution and timely completion.

The Must-Haves
• Background: Undergraduate student or recent graduate of a four-year Bachelor degree program in Real Estate, Finance, or a related field.
• Experience: Advanced knowledge and experience with MS Excel.
• Skills: Strong organizational skills to manage multiple projects, robust mathematics and analytical reasoning abilities, and the capacity to work independently with minimal supervision.
• Bonus: A GPA of 3.5 or above is strongly preferred, along with active participation in Real Estate clubs or groups.