Development Associate- Senior Living

Development Associate- Senior Living Hybrid • Evergreen Real Estate Group - Chicago, IL 60661 Quick Apply Overview Salary Range $80,000.00 - $95,000.00 Salary Position Type Full Time Education Level 4 Year Degree Category IL Leasing License NOT Required Quick Apply Description Position Title: Development Associate- Senior Living Department: Evergreen Senior Living (ESL) Reports To: Development Manager (ESL) Location: Chicago,IL (Hybrid), with periodic travel to Ohio project sites FLSA Status: Exempt Salary Range: $80,000-$95,000 + Bonus Job Summary Evergreen Real Estate Group is scaling a pipeline of 4% LIHTC Affordable Assisted Living (AAL) communities across Ohio under the Green Oaks brand. Each deal is a ground-up development financed with tax-exempt bonds, 4% LIHTC equity, and layered gap sources. Evergreen Senior Living (ESL) is seeking a Development Associate to support every phase of these deals — financial modeling, funding applications, due diligence, closing, and construction-period execution. The Development Associate works under the direction of the Development Manager, building deal-level analysis and organization that keeps each project moving, with growing exposure to investors, lenders, and agencies. Key Responsibilities Financial Modeling & Underwriting Support the development proforma for each deal, updating and maintaining the model under the Development Manager's direction from initial underwriting through application, closing, construction, and conversion Help run sources and uses, sensitivity analysis, and structuring scenarios Funding Applications & Public Finance Assist in preparing 4% LIHTC and tax-exempt bond applications to OHFA and other state housing finance agencies, plus gap funding applications Coordinate third-party reports — market studies, appraisals, environmental, and other diligence — to application and lender timelines Due Diligence & Closing Maintain due diligence checklists across lender, investor, and operator workstreams; help review and summarize key documents (loan documents, LPA, PSA, operating agreements) so the team can act on them Support the closing process: help coordinate counsel, lender, syndicator, and operator; keep the model current; assemble closing packages Investor & Lender Communication Help prepare equity and debt packages and assist in responding to investor and lender underwriting questions Support construction-period reporting to investors, lenders, and agencies, including draw support and conversion deliverables Help prepare internal analysis and reporting — pipeline updates, deal memos, and investment committee materials Predevelopment & Project Support Support market research, demand analysis, site due diligence, and zoning and entitlement work, including meetings with local governments Keep deal files organized and current on shared systems so anyone on the team can find what they need Education & Experience Bachelor’s degree in real estate, finance, urban planning, business, or a related field 2-3 years of experience in real estate development, real estate finance, or a related analytical role; exposure to LIHTC or ground-up development a plus Exposure to state HFA applications, tax-exempt bond executions, or LIHTC equity closings a plus but not required; senior housing exposure also a plus Technical & Physical Skills Strong Excel modeling skills; able to update and maintain a development and operating proforma with guidance from senior team members Able to read, question, and summarize deal documents Other Requirements Periodic travel to Ohio project sites for site visits, agency meetings, closings, and community openings Skills Strong written communication for investor, lender, and agency audiences Organized and reliable across many parallel workstreams Work Environment & Physical Demands