Real Estate Development Intern (Fall 2016)
Service Term: 10-12 weeks during Fall Semester 2016: Sept – Nov.
Weekly Hours: 15-20 hrs. per week – paid at $10/hr
Location: Silver Spring, MD (near metro stop and bus station)
Who is CPDC? Community Preservation and Development Corporation (CPDC) is a leader in the affordable housing industry. We invest in real estate, people, and communities. Our mission is to develop vibrant communities through innovation and partnerships.
Over the last 26 years, CPDC has established an unparalleled reputation for revitalizing communities across the Greater Washington, DC Metropolitan Region. CPDC has offered affordable housing to over 9,000 residents across more than 25 properties (4,300 units) in Washington, DC, Virginia, and Maryland. In these communities, residents have established tenant associations, organized voter registration, improved their school performance, achieved their GEDs, improved their employability, help to establish electronic villages, and created safe and more secure communities.
Purpose: The Intern will work with the Real Estate Development team on projects that enhance the capacity and reflect the essence of planning, development, and design in accomplishing CPDC’s mission
Primary responsibilities may include:
- Conduct neighborhood analysis for current and future CPDC properties to determine new development opportunities, planning and zoning changes, property valuations, demographic and socio-economic shifts, and community development needs.
- Survey plans and initiatives in local jurisdictions in the four key areas of Baltimore, Washington DC, Richmond, and Hampton metropolitan areas to develop an overview of the redevelopment initiatives, new development areas, and changes in zoning or affordable housing goals to identify new opportunities of investment for CPDC.
- Review and analyze the LIHTC State Qualified Allocation Plans for DC, VA, and MD, in order to assist with any LIHTC applications in process.
- Work closely with one ongoing project in one of these key areas; prospective project, predevelopment project, or construction. Assist and shadow the development associate or officer on the project to help with daily needs and learn about this stage of the development process. Examples of tasks will be creating spreadsheets, looking at market research, mapping excurses, creating presentations, and attending onsite meetings.
Qualifications: College graduate student with coursework and/or experience in affordable housing development and urban planning is required. Knowledge of land use and neighborhood planning and real estate development concepts are a plus.
Supervision, Training and Support: Orientation to CPDC and its communities. Development of initial work plan and timeline with supervisor related to above tasks. Weekly meetings to review, plan, and provide coaching around various aspects of the internship experience. Participate in staff meetings, external meetings, and trainings as available and relevant to the scope of the position. Participate in an intern program feedback process.
- Witness the affordable housing development process from project selection to construction to asset management and resident engagement.
- Experience the day to day operations of a real estate development in an affordable housing corporation and understand the federal, state, and local policies and programs used in this industry and how they influence operations of a nonprofit developer.
- Gain exposure to the financing tools used in the industry, including Low-Income Housing Tax Credits (LIHTC), HUD financing products, and programs (e.g. Section 8), GSE products (e.g.’ Fannie Mae) and typical local government programs.
- Develop a working knowledge of the policies and tools that local governments use in urban planning, land use, and real property development (e.g. comprehensive plans, small area plans and affordable housing policies.
- Learn to function in a team environment and experience how the work develops through team meetings on a project, with staff, lenders, government stakeholders, and development consultants (e.g. architects and civil engineers).
Submission Instructions: send an email to email@example.com with:
- Applicant resume and cover letter that includes the College/University attending and the degree/program pursuing. Include how the internship will contribute to academic and/or professional goals.
- Include the following in the subject line of the email: Real Estate Development Intern (Fall 2016), and applicant’s first & last name – ie: Janet Smith
CPDC will be accepting submissions through early September 2016 and will review applications as received until the position is filled. Please, no phone calls.
Stay connected: For more information on other volunteer or service member opportunities visit our website: www.cpdc.org/volunteering or complete our interest form to receive opportunity updates and stay connected with CPDC Volunteer Engagement. Contact us at firstname.lastname@example.org with any questions.